Łukasz Śliwiński | In Principle
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Signing of financial statements will get easier
Work is in progress on a bill amending the Accounting Act and other acts to make it easier to sign financial statements. This is good news for companies with multiple-member management boards.
Opening business in Poland—partnerships vs companies
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)
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
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.
Broader applicability of obligation to state address for correspondence
Amendments to the National Court Register Act which came into force on 15 March 2018 make it compulsory to register addresses for correspondence of persons associated with Polish companies with the National Court Register.
Changes to rules on participation of foreign undertakings in trade in Poland
new provisions, corporate, M&A
A new law that comes into force on 30 April 2018 combines two acts regulating the operations of foreign businesses in Poland into one, and at the same time makes certain changes.
Important changes affecting companies registered in Poland
already in force, corporate
On 15 March 2018, the Act of 26 January 2018 amending the National Court Register Act and certain other acts came into force. Some of its provisions will come into force subsequently successively up until 1 March 2020.
Liquidation of branches of foreign undertakings—proposed amendments
new provisions, corporate
Under proposed changes, the procedure for liquidation of branches of foreign undertakings would become easier and would also comply with EU law. Thus after several years of uncertainty and disagreement on this topic, Polish law should return to the position approved by the Supreme Court in 2007.
Duties of the management board concerning company financial reports
What are the possible consequences for failure to comply with these duties, and can the management board assert as a defence that the authority approving the financial reports has failed to reach a decision?
The scope of authority of the representative of a foreign undertaking in a Polish branch
National Appeals Chamber, corporate
Can the scope of authority of the representative of a foreign undertaking in a Polish branch be limited in practice to comply with the principal’s expectations?
Delegation of supervisory board members of a limited-liability company
A member of the supervisory board of a limited-liability company may be delegated to act as a member of the company’s management board. How should this be handled effectively, and what should be expected?
Legal consequences of improper selection of the auditor to examine a company’s financial statement
It sometimes happens in practice that auditors proceed to examine a company’s annual financial statement before they are formally selected by the competent authority of the company. Can this practice have negative consequences?