Since January 1, 2012, amendments to the Commercial Companies Code have enabled entrepreneurs to register a Polish limited liability company via online system “S-24” (KSH ст.157, 158, §11, 12, ст.167 §4). This enables establishment and registration of a company within 72 hours.
Required steps to set up a company in Poland using “S-24” system:
- Fill out a standard template of articles of association and sign it with a digital signature. The selected option allows a user to create an electronic signature and sign documents in the system.
- In case of a limited liability company established with standard article of association, the initial capital can be contributed only in cash.
- Companies that are registered via “S-24” system must cover the initial capital within 7 days from the date of its entry to the register.
- “S-24” system makes it impossible to modify the standard form of articles of association prior to registration of a new company in the National Court Register.
The benefits of online registration are lower operational costs, procedure simplicity and much quicker registration process. The application is expected to be processed within 2 - 3 days (the registry courts process the registration applications during business hours only).
The successful processing of application allows the entity to start their business activity in a formal way.