Newsletter

A new type of division under the Polish Companies Code: Division by Separation

The Council of Ministers is currently working on a bill amending the Commercial Companies Code and certain other acts of law (“Bill”), which implements Directive (EU) 2019/1151 of the European Parliament and of the Council of 20 June 2019 to the Polish legal system.

The family foundation on the home stretch: major assumptions of the bill on family foundations

As of the date of this Alert, the bill was submitted to the President and Marshal of the Senate for further proceedings.

The explanatory memorandum indicates that, according to estimates, nearly 830 thousand companies in Poland are family businesses which generate revenues to the overall value of PLN 322 billion per year, and thus their contribution to the GDP is at level of ca. 18%. The data gathered by Instytut Biznesu Rodzinnego [Family Business Institute] shows that approx. 57% of family businesses plan succession over the next five years.