Running a company in the form of a limited liability company in Poland entails the obligation to prepare the financial statements for the financial year. The obligation to prepare the financial statement, its elements and main principles are analysed by Paweł Dyrduł, associate lawyer from Polish law firm KG Legal Kiełtyka Gładkowski Professional Partnership with its registered office in Krakow.
KG Legal prepared a presentation about financial statements – obligations of Polish limited liability comapnies. The presentation includes characteristics of the limited liability companies, mandatory elements of the financial statements obligation, features of a good report and other useful information.
Liquidation of a brach can be conducted in two different procedures:
For more information please watch our You Tube video presentation
or you can read it HERE
Bearing in mind the universality of international transactions and the risks that entrepreneurs face, the letter should pay attention to risk-reducing methods offered by banks. Paweł Dyrduł, associate lawyer from the law firm KG Legal Kiełtyka Gładkowski Professional Partnership based in Krakow, discusses the instrument of the letter of credit as a form of payment as well as the form of limiting the risk involved with transactions.
The essence of international trade
Progressive globalization has imposed on domestic companies – even on local ones – relationships with other international companies. Examples of such a connection, which may be either direct or indirect, include: competition with foreign entities, adaptation of manufactured products to international standards, the use of developed and implemented technological and management solutions.
An international commercial transaction is a transaction involving a cross-border element, so it comes down to transactions between entities based in different countries. Foreign trade can be considered in two perspectives: narrow and broad. In the narrow sense, the subject of foreign trade is material goods. Broad sense includes, for example, current and assets and credit turnovers, purchase of goods and intangible services.
Everyone has a right to obtain information on the activities of the Polish Ministry of Justice. It relates to the functioning of the Polish judicial system and explanation of Polish regulations in the scope foreseen in the legal provisions. This issue has been fully regulated by the Act on Access to Public Information, as well as by the Order No. 197/14/BM of the Minister of Justice dated 18 December 2015 on making public information available.
This mechanism is very useful for the purposes of pursuing a variety of cross border cases, particularly related to international legal issues. The information is delivered in the Polish language, upon the relevant application.
