The procedure known as transformation of companies involves changing their legal form. It is usually performed for the sake of facilitating the realization of business targets or economic conditions, as well as adjusting the legal form of the company to be most suitable for the business activity conducted.
In principle, all commercial companies and partnerships may be transformed. Once the procedure has been initiated, the company is referred to as a company under transformation. After the appropriate entry in the register is made – it is considered a transformed company.
We assist with
- preparation of transformation plans
- gathering necessary documentation
- making entries in adequate registers
- It is worth emphasizing that under the principle of continuity the transformed company takes over all obligations and rights of the predecessor (e.g. permits, licenses). Tax Identification Number (NIP – Numer Identyfikacji Podatkowej), and Industry Identification Number (REGON) also remain unchanged. Transformation of a company may prove significantly beneficial.
Apart from the, already mentioned, facilitation of achieving business goals, it also makes way to e.g. tax optimization or actions that would be unavailable in the previous form – debut on the Stock Exchange to name one.
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Did you decide to open your company in Poland?
Do you represent a large corporation, mid-sized business or its your first business step here?
For each of the above situations, several issues are very important in the entire process of forming a business in Poland.
Step 1 – Prepare a transformation plan (in writing – for evidence purposes) covering, among other things, the balance sheet of the company’s assets. A registration court commissions an expert auditor whose task is to review this plan.
Step 2 – Adopting a resolution by the management board or the partners. It is followed by declarations of intent to participate in the prospective transformed company.
Step 3 – Appointing the company’s governing bodies and the members thereof. Once the foregoing steps have been undertaken, the partnership agreement may be concluded or the company’s deed of association drafted.
Step 4 – The remaining part of the procedure is similar to registering a new company – making an entry in the National Court Register (KRS) and announcing the transformation of the company in the Court and Commercial Gazette (Monitor Sądowy i Gospodarczy).
Is there anything we can help you with?
Should you wish to discuss your company formation issues further, please do not hesitate to contact us. CGO Legal is an experienced legal partner with whom the achievement of your goals will be faster, safer and more comfortable.
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