The latest and planned changes in corporate law: Continuation of bringing companies online
15.12.2022 corporate, already in force
Over the past decade, Polish lawmakers have taken many efforts to adapt the functioning of businesses in legal transactions to the current technological realities. We have witnessed the launch of electronic registration of companies, as well as the transfer of much of the National Court Register’s activity to the web. More changes are planned for the coming years.
Holding law: Proposed amendment to the Commercial Companies Code
09.09.2021 corporate, project
On 2 September 2021, a government bill to amend the Commercial Companies Code and other acts was submitted to the Sejm for a first reading. Among other things, the bill would introduce new principles into the Polish legal system in the form of a holding companies law, regulating the cooperation between parent companies and their subsidiaries. The rules for liability of management board and supervisory board members are also to be amended, vesting broader powers in supervisory boards to make corporate governance more effective.
Amendments to the Anti Money Laundering Act
On 25 February 2021, the Polish Parliament adopted amendments to the Anti Money Laundering and Counter Terrorism Financing Act of 1 March 2018. They concern both obligated institutions and reporting of information on beneficial owners to the Central Register of Beneficial Owners. Below we present some of the changes that will have a significant impact on the performance of duties by obligated institutions and entities required to make notifications to the register.
Opening business in Poland—partnerships vs companies
10.12.2020 global mobility, corporate
Apart from the basic form of running a business, which is a sole proprietorship, foreigners can choose to start a business in the form of a partnership or company. Each of these groups includes different types of corporate forms, and their activities depend on various factors.
Opening business in Poland—natural persons (individual business activity)
10.11.2020 global mobility
Establishing individual business activity (jednoosobowa działalność gospodarcza) by one natural person is a basic form of business operation in Poland. The process of launching and operating such a business, including registration, is relatively easy. This makes individual business activity appropriate for self-employed persons, i.e. those operating independently, with little or no involvement of third parties.
Decisions taken remotely by company bodies
23.03.2020 coronavirus, corporate
Among many problems facing businesses now is efficient management and decision-making when members of the company’s governing bodies cannot appear in person at headquarters for various reasons. Technology ensures efficient communications, but the possibility for corporate bodies to take resolutions remotely has been debatable in some situations.