On 1 December 2014, amendments to the rules regarding the information published in the Commercial Register came into force.
There are two significant changes:
1. Information can now be shared electronically between the court, tax office, statistical office, and the Social Insurance Institution (ZUS)
The amended system will provide the following benefits:
- Speed up the registration procedure for companies, making it easier to establish a company;
- Allow new companies to begin operating sooner;
- Reduce the number of documents required to register a company;
- Reduce registration costs;
- Easier to update the information published in the register;
2. There is now a limit to the number of classification activities which can be published in the National Court Register (KRS), in relation to the type of business a company performs:
- A company cannot register more than 10 activities according to the Polish Classification of Activity (PKD);
- A company must identify one predominant activity from the list of 10;
- All existing companies currently registered have a period of 5 years from 1 December 2014 to comply with the change and adjust the number of items published in the register (i.e. by 1 December 2019 at the latest);
- Next time a company submits an application to the registry court to amend any of it’s data after 1 December 2014, it must also include Form KRS-ZM to adjust the list of PKD items to 10 and identify one predominant PKD subclass. Non compliance will result in the court rejecting the application for entry of the other changes, thus delaying the procedure.
The new regulation will not effect the articles of association of either an existing company already registered, or a new company in process of registration, as both may include more than 10 PKD items in their articles. The limitation applies solely to the number of activities published in the KRS.
It is not clear from the wording of the regulation limiting the number of PKD activities listed, what would happen if a company was to perform activities within the list contained in its articles of association, but outside the list registered with the KRS. However, there is currently no evidence to suggest the court would impose a fine on a company under the National Court Register Act. The absence of a penalty in this regard should, therefore, allow a company to conduct business in more areas than listed in the public register without fear of incurring any legal consequences, so long as the activity falls within the scope of business stated in the articles of association