On 20 May 2014, Poland's Council of Ministers adopted changes to the country's Code of Commercial Companies concerning limited liability companies (LLC) (Spółka z ograniczoną odpowiedzialnością). The changes are aimed at improving the ease of establishment and operation of an LLC, and improve solvency and protection for creditors.
Main changes include:
- No share capital requirement, and if an LLC has share capital, the minimum is just PLN 1 (Currently PLN 5,000)
- Existing and newly formed LLC…