Understanding Polish Corporate Law: A Complete Guide

by | May 16, 2024 | law | 0 comments

Corporate law in Poland is a set of rules that simply outline what is acceptable and unacceptable for the companies. In general, Polish corporations can be classified into two categories such as partnership firms and commercial firms, regardless of the wide variety of company types available. Commercial enterprises are further divided into two groups: partnerships like general partnerships and limited partnerships and the second is commercial companies such as corporations with limited liability and simple joint stock companies

Where Did Corporate Law Originate

Corporate law in Poland is derived from several sources such as international agreements, business agreements and government laws. Certain laws are mentioned below:-

  • The Code for Commercial Companies
  • The Code of Civil Procedure
  • The Civil Procedure Code
  • The Corporate Reorganisation and Bankruptcy Law Act 
  • National Court Register Act
  • An Act Concerning Accounting 

How to select the proper type of business?

Selecting the most workable legal structure is one of the most important choices made before launching a company. It establishes things like the extent of responsibilities and individual accountability for the debts carried by the business or the amount of taxes and the time frame for paying them. When selecting the ideal type of partnership there are numerous aspects to take into account including:-

  • The nature of the activity
  • The manner of taxation
  • The size of the operations
  • The process of obtaining funds
  • Number of partners 
  • The extent of personal asset and capital risk liability for the business
  • The type of bookkeeping
  • The possibilities for financing a business
  • The perimeter of the business oversight. 

Through all these measures, we can reduce unnecessary taxes and boost profits while selecting the appropriate business structure. It is also essential for safeguarding assets against monetary losses.

Restructuring the legal framework of your company

There are times when firms need to restructure their organisations. Establishing a new company or closing the existing one is not necessary for this. In addition to the registration and tax numbers, the corporation keeps all of its legal rights and responsibilities. Shareholder businesses are not able to transform into partnerships, on the other hand, partnerships can transform into any sort of shareholder business.

Differences Between Capital Companies and Partnerships

  • Capital Companies with shares may have just one partner but partnerships must have two. 
  • In Commercial companies, shareholders are only liable for their investments whereas in partnerships partners are personally liable for the debts of the company. 
  • Commercial companies have the flexibility to alter the composition of their boards whereas partnerships have set membership requirements. 
  • Commercial companies that issue shares concentrate more on the financial aspect of things, partnerships emphasise the relationships between partners. 
  • Commercial companies are managed and represented by particular individuals or groups in contrast partnerships are frequently run by the partners themselves.

Why choose Niedziolka and Associates Law Firm?

Managing the legal aspects of your business might be challenging in the highly competitive world, but Niedziolka & Associates Law Firm is here to assist you in achieving your monetary goals. They focus on helping businesses similar and specialise in providing expert legal counsel. They aim to ensure proper compliance with every regulation and law, no matter at what stage your firm is developing, their team of professionals can help you navigate the complexity of Corporate law in Poland. Partnering with Niedziolka & Associates Law Firm has several advantages, one of which is the knowledge that your business is in capable hands.

Their customized strategy and extensive understanding of corporate law will enable you to protect the interests of your business and make informed judgments. Contact Niedziolka & Associates Law Firm today to begin your journey toward a successful and lawful business operation. Don’t allow legal problems to hinder you!