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DR PATRYK FILIPIAKATTORNEY-AT-LAW
SetUpYour StartUp
A Model Case:• 1 or more founders having an idea forbusiness (Founders)• 1-2 IT associates (IT)• Business model based on n...
Seed Phase:• Self-employment for one Founder• Civil Partnership for more than one FounderSetUpYour StartUp
Self – Employment (Private Enterprise):PROS:• Central Record and Information about EconomicActivity (CEIDG)• Cheap and eas...
Civil Partnership (CLP):• Agreement not an entity• CLP is not a separate entrepreneur (partnersare!)SetUpYour StartUp
CLP – Estate:• Assets belong to partners – joint estate• Joint estate is separated form personalestates of partners• Joint...
CLP – Managing:• Generally management and representationbelong to all partners (no corporate bodies)• Rules may be altered...
CLP – Liability:• Partners are liable for debts toward 3rdParties• Joint liability• Right of recourse• Can’t be altered in...
CLP – Taxation:• CLP – no legal capacity in tax law apart fromVAT• PIT – on Partners’ level• Simplified accountancySetUpYo...
SetUpYour StartUp
SetUpYour StartUpTypical solution:• Limited Liability Company – „Ltd.” (spółka zograniczoną odpowiedzialnością)Special cor...
SetUpYour StartUpLTD. – Estate:• As a legal entity it has its own estate• Fully separated from shareholders’ estates• Mini...
SetUpYour StartUpLTD. – Managing:Ltd. is managed by:• Board of Directors, Management Board(usually Founders) – manages and...
SetUpYour StartUpLTD. – Liability:• Corporate Veil• Liability of members of the Board ofDirectors: In case of bankruptcy ...
SetUpYour StartUpLTD. – Taxes:• Double taxation (CIT & PIT): Company level (Company Income Tax –19%) Shareholders level ...
SetUpYour StartUpSpecial Vehicles:• Advantages:combining corporate veil and singulartaxation• Problem:upcomming legislatio...
Thank you!Dr Patryk FilipiakAttorney-At-Lawp.filipiak@filipiakbabicz.comIŁŁAKOWICZÓWNY 7/260-789 POZNAŃT: + 48 61 2224 383...
DR PATRYK FILIPIAKATTORNEY-AT-LAW
SetUpYour StartUp
SetUpYour StartUpWays to achieve the goal:• The decision on relocating thecompany’s seat abroad under Polishlaw• Share dea...
SetUpYour StartUpWays to achieve the goal:• The decision on relocating thecompany’s seat abroad under Polishlaw• Share dea...
SetUpYour StartUp• The decision on relocating thecompany’s seat abroad under Polishlaw• What about EU Law?
SetUpYour StartUpAsset Deal:• The direct transfer of individual assets,i.e. real estate, machinery, receivables,etc. (the ...
SetUpYour StartUpShare Deal:• In case of legal entities it is alsopossible to acquire all majority ofshares (the "share de...
SetUpYour StartUpEU Cross-Border Merger:• Companies and limited joint-stockpartnerships may conduct a crossborder mergers ...
Thank you!Dr Patryk FilipiakAttorney-At-Lawp.filipiak@filipiakbabicz.comIŁŁAKOWICZÓWNY 7/260-789 POZNAŃT: + 48 61 2224 383...
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Patryk Filipiak: Set Up Your Start Up - presentation - 130604

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Set up a startup in Poland in a legal Perspective.
Relocating the company abroad (to EU member or USA)

Published in: Business, News & Politics
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Transcript of "Patryk Filipiak: Set Up Your Start Up - presentation - 130604"

  1. 1. DR PATRYK FILIPIAKATTORNEY-AT-LAW
  2. 2. SetUpYour StartUp
  3. 3. A Model Case:• 1 or more founders having an idea forbusiness (Founders)• 1-2 IT associates (IT)• Business model based on new technologies(mostly internet, mobile apps etc.)• First round of Financing (seed/startup)SetUpYour StartUp
  4. 4. Seed Phase:• Self-employment for one Founder• Civil Partnership for more than one FounderSetUpYour StartUp
  5. 5. Self – Employment (Private Enterprise):PROS:• Central Record and Information about EconomicActivity (CEIDG)• Cheap and easy to setup and manageCONS:• No limited liability• Tax – Personal Income Tax (PIT) flat (19%) orprogressive (18% and 32%)SetUpYour StartUp
  6. 6. Civil Partnership (CLP):• Agreement not an entity• CLP is not a separate entrepreneur (partnersare!)SetUpYour StartUp
  7. 7. CLP – Estate:• Assets belong to partners – joint estate• Joint estate is separated form personalestates of partners• Joint estate – special legal regimeSetUpYour StartUp
  8. 8. CLP – Managing:• Generally management and representationbelong to all partners (no corporate bodies)• Rules may be altered in PartnershipAgreementSetUpYour StartUp
  9. 9. CLP – Liability:• Partners are liable for debts toward 3rdParties• Joint liability• Right of recourse• Can’t be altered in Partnership AgreementSetUpYour StartUp
  10. 10. CLP – Taxation:• CLP – no legal capacity in tax law apart fromVAT• PIT – on Partners’ level• Simplified accountancySetUpYour StartUp
  11. 11. SetUpYour StartUp
  12. 12. SetUpYour StartUpTypical solution:• Limited Liability Company – „Ltd.” (spółka zograniczoną odpowiedzialnością)Special corporate vehicles:• Limited Liability Company Limited Partnership - „sp. zo.o. sp.kom.” (spółka z ograniczonąodpowiedzialnością spółka komandytowa)• Limited Liability Company Limited Joint- StockPartnership – „sp. z o.o. SKA” (spółka z ograniczonąodpowiedzialnością spółka komandytowo-akcyjna)
  13. 13. SetUpYour StartUpLTD. – Estate:• As a legal entity it has its own estate• Fully separated from shareholders’ estates• Minimum share capital: 5.000 PLN• Estate comes generally from: Shareholders’ contributions (cash orcontribution in kind) Economic activity
  14. 14. SetUpYour StartUpLTD. – Managing:Ltd. is managed by:• Board of Directors, Management Board(usually Founders) – manages andrepresents Ltd. on daily basis• Shareholders’ Meeting – makes mostimportant or strategic decisions• Supervisory Board (generally optional) –supervise actions of Board of Directors
  15. 15. SetUpYour StartUpLTD. – Liability:• Corporate Veil• Liability of members of the Board ofDirectors: In case of bankruptcy toward 3rd parties For unlawfull actions toward Ltd.
  16. 16. SetUpYour StartUpLTD. – Taxes:• Double taxation (CIT & PIT): Company level (Company Income Tax –19%) Shareholders level (Personal Income Tax– 19%)
  17. 17. SetUpYour StartUpSpecial Vehicles:• Advantages:combining corporate veil and singulartaxation• Problem:upcomming legislation changes
  18. 18. Thank you!Dr Patryk FilipiakAttorney-At-Lawp.filipiak@filipiakbabicz.comIŁŁAKOWICZÓWNY 7/260-789 POZNAŃT: + 48 61 2224 383E: office@filipiakbabicz.comWWW.FILIPIAKBABICZ.COM
  19. 19. DR PATRYK FILIPIAKATTORNEY-AT-LAW
  20. 20. SetUpYour StartUp
  21. 21. SetUpYour StartUpWays to achieve the goal:• The decision on relocating thecompany’s seat abroad under Polishlaw• Share deal• Asset deal• Cross-border mergers
  22. 22. SetUpYour StartUpWays to achieve the goal:• The decision on relocating thecompany’s seat abroad under Polishlaw• Share deal• Asset deal• Cross-border mergers
  23. 23. SetUpYour StartUp• The decision on relocating thecompany’s seat abroad under Polishlaw• What about EU Law?
  24. 24. SetUpYour StartUpAsset Deal:• The direct transfer of individual assets,i.e. real estate, machinery, receivables,etc. (the "asset deal")• Key issues of the asset deal transaction
  25. 25. SetUpYour StartUpShare Deal:• In case of legal entities it is alsopossible to acquire all majority ofshares (the "share deal")• Key issues of the share dealtransaction
  26. 26. SetUpYour StartUpEU Cross-Border Merger:• Companies and limited joint-stockpartnerships may conduct a crossborder mergers in EU• Important: the condition is that atleast two are subject to the laws ofdifferent Member States
  27. 27. Thank you!Dr Patryk FilipiakAttorney-At-Lawp.filipiak@filipiakbabicz.comIŁŁAKOWICZÓWNY 7/260-789 POZNAŃT: + 48 61 2224 383E: office@filipiakbabicz.comWWW.FILIPIAKBABICZ.COM
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