Establishment of Polish LLC (Limited Liability Company) – step by step

Shareholders

Shareholder of LLC can be a natural person or legal person (another company, also LLC). However LLC can’t be founding solely by another single-member LLC.

Minimum Share Capital

The minimum share capital is 5 000 PLN, which may be pay of two kinds of contribution: in cash or non-cash. The minimum value of one share is 50 PLN. Shares may have equal or unequal value.

Management board

Management board consists of one or more of natural persons, who is generally elected by the General Assembly.

The company agreement

The company agreement of LLC, which must contain at least:

1. the name of a company and its registered seat
2. the object of the company’s activity
3. the duration of the company, if it is established for a definite time period
4. the amount of the share capital (at least 5000 PLN)
5. the number of shares (for example – 100 shares of 50 PLN each)
6. the number and nominal value of shares (nominal value of shares is at least 50 PLN) subscribed for by individual shareholder

Apart from this, the company agreement can also deal with contributions, profits and additional duties imposed on shareholders and also appointing first Management Board

Public notary

The deed must be prepared in the Polish language and sign in notary. During the signing of the agreement presence of translator is required

After that you also need:

1. concluding a contract for the lease of office space or obtaining other legal title to office space (obtaining an official address)
2. opening a bank account for the company, where can be deposited contributions to the share capital by the shareholders
3. signing the documents required for the company’s registration by each member of the Management Board – acceptance of appointment to the Management Board and declaration that the share capital has been paid in full
4. registration in the National Court Register
5. filing an additional notification to the Tax Office