Simple joint-stock company - Simple Joint Stock Company

A simple joint-stock company is a new type of company which is intended to facilitate the construction of new enterprises. They are characterized by a high degree of innovation in services or products. Its basic feature will be the simplification of all procedures. Additional benefit is the ease of raising capital through the issuance of new shares. The Act is to come into force on 1 March 2020.

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What are the characteristics of a simple joint-stock company?

Due to its specific purpose, a joint-stock company will be very different from other capital companies. For example companies such as a limited liability company and a joint-stock company. Its main objective is to facilitate the process of raising capital from investors for further development of the company. Flexibility of shaping legal relations and shares issued by the company is to contribute to investments in innovative ideas.

Features of a simple joint-stock company:

  • low amount of share capital, minimum 1 PLN to start business in the form of a simple joint-stock company,
  • very large freedom in terms of shaping shares and the rights and obligations associated with them, the possibility of building shares that are paid in exchange for work or services,
  • no obligation to hold company capital at a certain level, the company must maintain solvency vis-à-vis creditors,
  • Simplified legal form of the company by abolishing the obligation to have a founding statute – no status of a public company,
  • easy conversion of a simple joint-stock company into a joint-stock company for the purpose of public offering on the stock exchange,
  • simplified structure of the company’s governing bodies and no obligation to have a supervisory board,
  • the possibility of appointing a board of directors to conduct the day-to-day business of the company,
  • the possibility to register the company via an online form within 24 hours,
  • simplification of procedures for managing the company’s affairs by enabling the adoption of resolutions by electronic mail (e-mail) or during videoconferencing,
  • facilitating the keeping of a register of shareholders, including a register based on blockchain technology,
  • simplification of the process of liquidation of the company, in relation to other capital companies, introduced the possibility of dissolution without liquidation by taking over the assets and liabilities by the shareholder,

Simple joint-stock company – Why is this type of company needed?

A simple joint-stock company is a response to the economic transformation that has taken place in recent decades. The Polish economy has moved from an economy based on services and industry to an economy based on innovation. In order to innovate, it is necessary to introduce new technical and organizational solutions in a very short time. Many of these projects are very risky or capital-intensive.

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