15.03.2021 Company law

Launch of a simple joint-stock company (P.S.A.) on 1 July

A simple joint-stock company (P.S.A.), a new form of running a business, will be available from 1 July 2021. The Ministry of Justice denied the news about another postponement of this date.

A simple joint-stock company is a new type of company intended to facilitate starting a business by, among others, entrepreneurs with difficulties in raising large share capital. It is based on similar solutions already introduced in some EU countries. Initially, a simple joint-stock company was to be launched on 1 March 2020, but subsequent amendments to the regulations have postponed this date by over a year.

1 July 2021 is now said to be the final date for introducing a simple joint-stock company into Polish company law.

See also: How to manage business risk?

Important characteristics of a simple joint-stock company

  • No minimum share capital is required – a registered capital of minimum PLN 1 is required,
  • Share capital is only stated in the business register, not in the articles of association, what allows for the changes to be made without the need to adopt resolutions,
  • The share capital may be contributed in-kind also by performing work or services,
  • The company’s founders may choose to appoint a management board and, potentially, a supervisory board or only a board of directors combining managerial and supervisory functions,
  • No restrictions on the preference of shares,
  • Shares are digitalized,
  • Shareholders can retain control over the company.

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