As of 1st of March 2020, a new company will be available for everyone wishing to conduct business activities in Poland. The simple joint stock company (prosta spółka akcyjna – PSA) is getting a lot of attention and currently being introduced as a perfect tool for all the start-ups emerging on the market.
The most popular form of a company in Poland currently is the limited liability company (spółka z ograniczoną odpowiedzialnością – sp. z o.o.) which obviously is quite old as a concept and sometimes very hard to adjust to the modern ways of doing business.
The PSA is supposed to be the missing link between the flexible partnerships and formalised capital companies. The relevant provisions on the simple joint stock company provide for a handful of novelties not available for a regular joint stock company such as: shares in exchange for work and services and no nominal value of shares. Additionally, there are a lot of conveniences allowing flexible withdrawing and obtaining funds and generally running the company. Speaking of funds, basically no funds are needed to start a PSA.
The new model seems very attractive and tries to overcome many of the inconveniences related to running a limited liability company or a joint stock company. If it will be successful and popular, only time will tell.