Starting S24

Starting S24 - limited liability company registered by Internet within 24 hours ("Company 24")

Amendments to Polish Commercial Companies Code, which enter into force on 1 January 2012, enable submitting application for registering a limited liability company via Internet.

The information necessary to register a limited liability company to a new mode are:

1. The application of registration,
2. The limited liability company articles of association - only standard of limited liability company articles can be used,
3. The list of shareholders.

These documents will be prepared on electronic forms provided by Internet and signed by an electronic signature.

Registration request, a standard of limited liability company agreement together with a shareholders list will be sent electronically to the court. Application for establishing limited liability company will be recognized by the court within one day (this is why these entities are called as “companies 24”).

Another important change to simplify the registration of a limited liability company is the fact that the companies 24 are formed without the obligation to use a notarial deed. Nevertheless, any further change of limited liability company articles of association require a form of a notarial deed. Another important difference is that the initial capital of the company is not covered before the registration. After registration shareholders have to make cash contributions into the company initial capital within seven days from the registration date.

Please note that the new mode of creation and registration of companies 24 applies only to limited liability companies.