This is not the end of a good news for innovative entrepreneurs. After the introduction of the tax incentive in January in the form of an IP Box, it is time for another, last piece from the “100 changes for companies” package. We are talking about Simple JSC, which is to combine the best features of the limited liability company with the advantages of a joint-stock company. A simple joint-stock company is a response to postulates of startups, which indicated a number of problems limiting their development, including difficulties in starting a business, raising capital or liquidating a company in case of failure.
Easy and simple
The main goal of PSA is to eliminate existing barriers and speed up registration process. The company can be set up in 24 hours via the Internet (traditional registration method will also be possible). The electronisation also covers running the business (resolutions taken by e-mail or during video-conferencing). Another important feature is the reduced minimum capital – 1 zloty and the freedom to dispose of the company’s funds. Other advantages include: simplified and flexible structure of the company’s bodies, freedom in determining the types of shares and operating principles of the company, no public company status and, in case of failure, simplified liquidation or dissolution of the company without liquidation.
The project has just been adopted by the Council of Ministers but at the earliest, Simple Joint-Stock Company will be available in the first quarter of 2020.