The Council of Ministers adopted an amendment’s project of the Code of Commercial Companies. It gives possibility to establish a private limited company with 1 PLN capital and introduce new protection’s instruments for creditors of limited liability companies.
The reform introduces new minimum of share capital for private limited companies from the current 5 000 zł to 1 zł. As a result, the nominal value of the share is reduced from 50 zł to 1 zł.
According to the project authors, currently applicable minimum capital does not perform any guarantee functions to company’s creditors and is burden’s source for shareholders. Therefore from the company's creditor’s point of view this proposal will not lead to a deterioration of their situation.
It is expected that the new rules will come into force on 1 January 2016