Paweł Cabaj
Head of Business Development
Closing a company, merging businesses or completely withdrawing operations from Poland are time-consuming, complex processes requiring a well-considered business, legal and tax approach. Improper conduct of the liquidation or merger may generate additional costs, financial sanctions and problems with tax settlements. KR Group offers comprehensive advisory services at every stage of the process – from planning, through legal formalities, to the finalisation of the closure of operations in Poland.
Company liquidation and cessation of business – for whom?
The service of company liquidation, company merger and business exit from Poland is intended for companies operating in various sectors of the economy that are planning to cease operations, restructure, merge or sell the company. Our team of experts in law, tax and accounting analyses the individual situation of each client. We know that every company has a unique structure, tax and financial obligations. Our support enables the entire process to be carried out safely and in compliance with regulations. Our support is particularly useful for entrepreneurs who wish to exit the market efficiently, gain full control over legal and tax formalities, and protect the company’s interests during the cessation of operations in Poland.
Company liquidation and cessation of business at KR Group
The decision to exit the Polish market may be driven by various factors – from a change in business strategy and the resulting flow of capital, through market conditions to regulatory issues. Entrepreneurs face a challenge that is not only formal but also strategic, including the analysis of tax, accounting and financial risk. Regardless of the reasons, KR Group’s priority is to provide comprehensive support that will allow you to go through the entire process in a safe, effective and most commercially advantageous manner. The key is the early identification of potential risks and the preparation of an action plan that enables the efficient and lawful cessation of operations in Poland.
Company liquidation and cessation of business – KR Group offer
- Analysis of the tax consequences related to liquidation, sale or transfer of operations abroad, providing information on the most advantageous way of carrying out the company’s market exit process.
- Conduction of a tax audit aimed at identifying potential irregularities, including: review of invoices, source documentation confirming the right to deduct VAT, and documentation of intra-community/export transactions.
- Conduction of a legal audit, including: analysis of the necessary legal documentation relating to the cessation of business.
- Representation in proceedings before tax offices and other authorities.
- Preparation of the tax documentation required in the market exit process.
- Support in obtaining the necessary documents, such as: a certificate of no tax arrears and the refund of tax overpayments.
- Preparation and storage of tax documentation for all periods not covered by the statute of limitations – invoices, contracts, transfer confirmations, email correspondence with counterparties.
- Ongoing advisory services in the area of company closure, liquidation or business restructuring.
- Advisory services in the area of the transfer and sale of shares.
- Management of the liquidation process, including: negotiation of contracts with counterparties and employees, adoption of a resolution on the dissolution of the company and opening of liquidation, appointment of company liquidators, notification of the opening of liquidation to the court register.
- Taking steps aimed at settling liabilities/recovering receivables.
- Preparation of financial statements related to the closure of operations and adoption of resolutions approving the financial statements and the actions taken by the liquidators.
- Final settlements with counterparties and employees.
- Support in the process of closing accounting accounts.
- Filing an application for the removal of the company from the National Court Register (KRS).
FAQ
What does the process of liquidating a company in Poland look like?
The process of liquidating a company in Poland begins with the adoption of a shareholders’ resolution on the dissolution of the company and the opening of liquidation, and the notification of this fact to the National Court Register (KRS). The subsequent stages involve the cessation of current operations, the settlement of liabilities, the preparation of financial statements and tax settlements, and the closing of the accounting records. After all liquidation activities have been completed, the liquidators file an application for the removal of the company from the KRS.
Is it possible to sell the company instead of liquidating it?
In many cases the sale of a company can be an alternative to the liquidation of operations in Poland. Instead of carrying out the full liquidation process, the owners may decide to sell the shares to an investor who will take over the company together with its legal structure. It is also crucial to properly prepare the transaction documentation and settle any potential tax consequences of the sale of the company.
What experience does KR Group have in the area of company market exit?
KR Group has extensive experience in managing company liquidation projects in Poland and the exit of companies from the Polish market in various sectors. We approach each client individually. We know that there is no single, repeatable course of action – every situation is different. What distinguishes us is comprehensive management of the entire process, which enables us to minimise risk and reduce costs. We offer professional support at every stage of the process – from planning, through the completion of legal formalities, to the finalisation of the company closure – providing companies with a safe and effective market exit. Thanks to our experience in handling projects for international capital groups and companies operating in various industries we help carry out the entire process in an orderly manner, in compliance with regulations and safe from a tax and legal perspective.
How long does the liquidation of a company in Poland take and how long does it take to close a limited liability company?
The time taken to liquidate a company in Poland, in particular a limited liability company, depends on several factors, such as the number of liabilities, the financial situation of the company and the time taken by the National Court Register (KRS) to process applications. In practice, the process of closing a limited liability company in Poland most commonly takes from several months to over a year.
Can the liquidation period be extended?
Yes, the liquidation period may be extended if the company has, for example: unsettled liabilities or ongoing administrative or tax proceedings. This is precisely why it is worth using the support of legal advisors and accounting advisors, in order to carry out the entire company closure process efficiently, safely and correctly.
