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Establishment of LLC

Minimum capital

 

Minimum capital amounts to 5.000 PLN (about €1.250). LLC can be registered in the National Register Court when the management board submits the statement that the whole share capital is contributed. In the case when the capital is contributed in cash it should be paid on the company’s bank account. The contributions may be paid in cash or in kind. The value of contributions does not have to be estimated by an expert. Non-cash contributions, similar to cash contributions have to be contributed before the registration of a company.

 

Shareholders

 

The number of shareholders is not limited. It can be either natural person or legal person (other company). However, it may not be established solely by another single-member limited liability company.

 

Management board

 

Management board consists of one or a number of natural persons, who can be, but not necessarily should be, shareholder or a proxy of shareholder in case the shareholder is the legal person. Management board is elected by the General Assembly with exception of instances mentioned in an agreement. If the only shareholder is the only member of management board at the same time, all of his/her resolutions must have a form of notary deed. They are optional, if the capital is not larger than 500 000 PLN and the number of partners is not higher than 25.