Limited liability company
This Private Limited company is the most popular company in Poland. Its structure has many advantages, but unfortunately it has too many disadvantages.
• low minimum capital - the minimum capital required to establish a disregarded entity is 5k. zł. It consists of shares brought by individual shareholders. Shares may, but need not be equal, and the minimum value of one share can not be lower than 50 zł.
• NIP and REGON stock - NIP and REGON numbers are assigned an LLC automatically by a court in a few days after its registration in the National Court.
• the possibility of registration of LLC over the Internet - there is a simplified procedure for establishment of LLC. It is suitable but only for companies with standard terms of the agreement the company.
• exclusion of liability of their personal wealth - the liability of shareholders is limited only to the size of contributions. This means that in practice the partners do not have to pay the debts of the LLC.
• an opportunity to establish a disregarded entity - Beneficial for entrepreneurs starting a business on a larger scale, to lead the company individually in a form that limit the economic risk.
• no load ZUS and grand - if you have a minimum of one shareholder in respect of shares held you do not pay ZUS.
• detailed information on settlements with contractors and employees - conducting a full accounting enables the continuous monitoring of arrears from customers, payments to suppliers, salaries and settlements with the authorities.
• complex procedure of registration company- The write-off of a notary agreement of LLC contribution by the shareholders contributions to the share capital company setting up a bank account, set up bodies of the company, registration in the register of entrepreneurs (KRS), and registration of a company in the tax office and ZUS needs to be done. Only after all these steps is the company fully prepared to do business.
• agreement company in the form of a notarial act - not only the agreement of LLC, as well as its every change requires a notarial deed. The exception is a contract company over the Internet.
• double-taxation profit of LLC (At the level of the shareholders and the company). Private Limited company. It is the payer of income tax (CIT). In addition, if the shareholders derive from the company's income in the form of dividends if they are subject in addition to income tax on natural persons (PIT).
• the obligation to conduct a full accounting by the company with the company is powerful, precise, complex and consists of a thoroughly formalized system of recording economic events.
• high cost of bookkeeping company - Accounting for a full accounting is time consuming and requires knowledge, because in the market there is a relatively high price for the service provided by the accountancy offices.
• detailed verification of corporate account - you can not pay with a company account for private spending, because it will be mapped in settlements with the person who made it. Each impact on the account and withdraw from the account must be documented.
• obliged to submit annual financial reports - every year to the registry court (and the IRS) must submit financial statements and the activity report of a disregarded entity.