SMALL EQUITY IN A COMPANY – BIG PROBLEMS, ESPECIALLY FOR THE MANAGEMENT BOARD MEMBERS
For many limited liability companies in Poland, the end of the calendar year is the end of the financial year and the time when the accounts are closed.
REMOTE WORK IN THE LABOUR CODE
On 1 December 2022, the lower house of the Polish Parliament adopted a draft law amending the Labour Code and other acts and introducing remote working as a permanent solution into the Polish labour law system.
REMOTE WORK IN THE LABOUR CODE: the key points of the new draft Act
On 19 May 2021, a new draft Act amending the Labour Code Act, the Vocational and Social Rehabilitation and Employment of Persons with Disabilities Act and the Employment Promotion and Labour Market Institutions Act was announced. The main objective of the new draft law is to introduce the provisions on remote work into the Labour …
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The provision of security for corporate loans by Polish subsidiaries – legal challenges
It is standard practice in corporate financing for financial institutions to request that the borrower’s subsidiaries provide security. The management boards of such subsidiaries frequently ask themselves whether providing security in a situation where the company they represent does not use the financing directly is permitted.
Typical security for corporate financing in Poland
When providing financing to corporate clients, banks require that the borrower, and frequently also companies from its group, offer security in case the liabilities are not repaid on time. This article presents instruments under Polish law that are most commonly used by Polish and foreign financing entities to secure their claims against corporate borrowers.
The use of electronic signatures in employee documentation in Poland
At a time when so many employers have decided to introduce the remote working solution, maintaining the traditional employee documentation has become quite a challenge.
COVID-19: changes in the operation of companies in Poland
Due to the COVID-19 pandemic, some of the regulations essential to the operation of companies have been amended. Deadlines for filing information on the beneficial owner with the Central Register of Beneficial Owners and deadlines for preparing and approving financial statements have been extended. In addition, solutions enabling companies’ governing bodies to operate on a …
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Central Register of Beneficial Owners – new corporate obligations in Poland
Central Register of Beneficial Owners (Centralny Rejestr Beneficjentów Rzeczywistych). Pursuant to Polish Money Laundering and Terrorist Financing Act of 1 March 2018 entities specified in the provisions of the Act, including limited liability companies, will be obliged to submit information on the beneficial owners of such companies to the Central Register of Beneficial Owners. New …
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