Liquidation of a Company in Poland
Liquidation services for companies in Poland are provided by company lawyers in many cities in Poland. There are several options for the liquidation of companies that are used when closing a business in Poland and which have their own characteristics.
Voluntary liquidation of a company can be carried out on the basis of a decision of the owners of a Polish company on voluntary liquidation of a company at a general meeting of founders. The decision to liquidate the company is notarized and at the same time appointed by the liquidator of the company. Within 15 days from the date of the decision on liquidation, a liquidation balance sheet is prepared, which is approved by the general meeting of the company. After that, the court registrar (KRS) is submitted within 7 days a statement about the beginning of the liquidation procedure of the company with information about the appointed liquidators and during this period, the head of the tax service is notified of the beginning of the liquidation procedure. After that, creditors are notified of the start of the liquidation of the company through the publication of a corresponding announcement of liquidation and proposals to creditors regarding the application of claims in a special publication (Monitor Sądowy i Gospodarczy). The deadline for submitting claims of creditors is 3 months. Necessary liquidation procedures, collection of receivables, payment of obligations, sale of property and more are also performed. After that, a liquidation report is prepared and approved at the general meeting of the company and a decision is made to approve this report and close the liquidation procedure, and the location of the company’s documents is determined. Within 7 days after the approval of the liquidation report, a statement is submitted to KRS on the exclusion of the company from the register, and the registrar enters the relevant information on the liquidation in KRS. Also, a tax return on financial statements and a notice of completion of liquidation proceedings, an application to the tax office on the official form for removing a liquidated company from the register of VAT payers (form VAT-Z), and a NIP-2 declaration for notification of a change in taxpayer status are submitted to Urząd skarbowy, as well as GUS notice of termination of the company.
Suspension of the company. For this, it is necessary to submit to the state register the relevant decisions of the company’s board, applications and registration forms. The company can stop its activity for a period of up to two years, after which the activity needs to be resumed and financial statements submitted to the tax authority. During a stop, the company cannot conduct business activities.
Sale of a company - transfer and renewal. This is one of the most common ways to get rid of a company, the responsibility for its maintenance and administration. The implementation of this option is possible provided that there are people who want to buy or or get such a company for free. Demand in the market for the sale of firms is enjoyed by firms that, during their activity, had a large turnover of money in the account, who have a good credit history, or certain licenses, are VAT payers. When buying a working company, there are certain risks: problems with reporting, unpaid bills and more. And to make sure that the company is clean, it is necessary to conduct an accounting and legal audit.
Another option to get rid of the company is simply to "forget the firm." In such cases, adverse consequences arise in the form of accumulation of tax debts and other payments, penalties, arrears to contractors under contracts, and more. This approach can also lead to problems for the owner when crossing the border with the European Union, bringing to administrative, criminal or civil liability.