As of 22 May 2023, regulations introducing the family foundation into the Polish legal order are in force. The Family Foundation Law revolutionizes the previous approach to business succession, allowing the use of modern succession mechanisms.
The act introduces a completely new entity (a family foundation) into the Polish legal order, defining its organization and principles of operation, including the rights and obligations of the founder and beneficiary. In addition, the act also regulates the taxation of the family foundation.
What are the benefits of establishing a family foundation?
There are many benefits of establishing a family foundation. Among the most important are:
- The ability to make a thoughtful succession of the family business;
- The ability to secure assets and protect them from possible future creditors;
- The ability to transfer the assets of an established family foundation tax-free;
- The ability to disburse funds without solidarity surcharge and health and insurance premiums, and favorable taxation rules;
- The ability to have a large degree of freedom in determining the rules of the family foundation and setting its goals.
SKLAW provides comprehensive support in the process of establishing a family foundation, establishing its rules of operation, developing a succession strategy in a way that best protects the interests of the founder and beneficiaries. We provide a personalized approach to the needs and comprehensive service also in the course of further operation of the family foundation.