On June 13th, 2019 Polish parliament passed a law introducing a new type of company – a ‘simple joint-stock company’.
It is supposed to be a response to the needs of the market. In particular, the new type of the company was planned as the optimal solution for start-ups.
According to our preliminary opinion, it will also be an interesting solution for foreigners starting a business in Poland.
A simple joint stock company will be the third capital company in the Polish legal system – apart from a limited liability company and a joint-stock company.
The minimum share capital of this type of company is only PLN 1,00 (!).
The formalities related to its establishment have been minimized.
The provisions provide for the possibility of using the electronic model of the company’s agreement, as well as concluding it in a traditional way.
Although the new law is to come into force only on March 1st 2020, we will present some interesting possibilities provided by the regulation in the coming weeks.