Liquidation of the company in Poland

1. What liquidation involves
2. Liquidation procedure
3. Mandatory element – ​​liquidator

What liquidation involves

Compared to company registration in Poland, the liquidation process is much more complicated and expensive. The cost of such a procedure is determined by the fact that the liquidation begins after the act of liquidation of the company is opened at the meeting of the founders.

Meetings must be held only in the presence of a notary public. The deed is drawn up only at a Polish notary. If at least one of the founders does not speak Polish, the act must be translated by a sworn translator. You can act by proxy.

If you can still try to register the company yourself, it is almost impossible to liquidate the company on your own, since many specialists from the field of law and accounting must be involved in this process.

The liquidation of the company may be due to several reasons:

• The company could be open for a certain period from the very beginning
• The company could fulfill the goals for which it was created
• The founders of the company want to liquidate the company for personal reasons
• The court can order liquidation if the company or its owners violate the law

Liquidation procedure

So, the first step is the adoption of a resolution (uchwala o likwidacji spolki) that a decision has been made to liquidate the company. It is certified by a notary public. Then the accountant must prepare a balance sheet (bilans otranie likwidacji), which will show the situation with the company’s funds at the current moment. The period for preparing the balance sheet is 15 days.

The second step is to notify the court of the decision to liquidate the company and make changes to the state register – KRS. Next, the name “in the process of liquidation” is added to the name of the company. The entire liquidation process can last from several months to several years.

The third step is to notify the Judicial and Economic Herald (Monitor Sadowy I Gospodarczy) about the dissolution of the company, while publicly inviting all creditors to present their claims. Creditors have 3 months to submit their claims to the company.

After fulfilling all obligations, the company can be closed: a final balance is drawn up – a liquidation report, which is approved by the founders’ meeting; unsold property is shared between owners; and another statement is made in the state register that the company is liquidated.

It is also necessary to submit a liquidation report to the tax service. The final liquidation of the company takes place at the moment of its exclusion from KRS.

Mandatory element – ​​liquidator

Before starting the liquidation, it is necessary to choose the person who will be responsible for the entire procedure – the liquidator. This person visits the administration of state and municipal structures, and communicates with counterparties. These can be lawyers or liquidation specialists. If such persons are not found, the members of the board will be responsible for liquidation.

If you have decided to liquidate the company in Poland, the specialists of the law firm “Prikhodko and Partners” will be happy to help you go through this process as quickly and without problems as possible.