publication date: January 10, 2023

In cooperation with external colleagues specializing in the tax law of UK dependent countries (mainly the Cayman Islands), KIELTYKA GLADKOWSKI has developed favorable structures of business forms that limit the risk of investing private American funds in technology companies from Eastern Europe.

On the one hand, the current investment phenomenon consists in the need to:

1/ reduce the risk of the political situation, which is a solution provided by establishing a company in Poland;

2/ reduce tax costs, which can be achieved by setting up an additional structure, for example in the Cayman Islands (tax and regulatory friendly);

3/ provide for the owners of the companies solutions for tax residency outside of Poland (like, for example, in the Netherlands – in tax friendly jurisdiction).

We have experience in negotiating consultancy agreements between Polish and Ukrainian and US companies.

Our team has available model texts of Articles of Association of Cayman exempt companies.

We also assist in online registration of limited liability companies in Poland.

We have ready-made solutions and a portfolio of American investors, and that is why KIELTYKA GLADKOWSKI reaches out to technological Polish and Ukrainian companies that:

1/ either would like to create a joint venture with an American IT company to develop software for it;

2/ or go abroad with their own technologies or software by co-financing with a private equity fund.

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publication date: January 09, 2023

The Digital Services Act, known as DSA, is the Regulation (EU) 2022/2065 of the European Parliament and of the Council of 19 October 2022 on the digital single market and amending Directive 2000/31/EC.

It concerns three groups of entities. The first of them are the Internet users themselves, i.e. a great number of people who use this tool for various purposes. This legal act is intended to improve their security and the availability of information in the processes of purchasing specific products related to the Internet, primarily information about the sellers themselves. The constitution of the Internet is also intended to influence the transparency of content moderation rules. Another goal is to correctly and understandably inform Internet users about advertisements and sponsored content that can be encountered at every step when using the Internet. Users will have defined and facilitated ways to report illegal content, goods or services on online platforms. If the content posted by the user himself is removed for specific reasons, he will be informed about it and will have the opportunity to challenge such a decision.

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publication date: January 05, 2023

US regulators are warning banks about the risks associated with the cryptocurrency market. In the first jointly issued communication, the US Federal Reserve, the Federal Deposit Insurance Corporation and the Currency Control Office draw attention to the lack of proper regulation of digital currencies, misleading information and high exposure to financial fraud. The joint warning from financial institutions comes two months after one of the world’s largest cryptocurrency exchanges declared bankruptcy.

In a joint statement, the U.S. Federal Reserve, the Federal Deposit Insurance Corporation and the Currency Control Office stress that they are closely monitoring the activities of banking organizations related to cryptocurrencies.

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publication date: January 04, 2023

The Polish Act on open data and re-use of public sector information of August 11, 2021 defines the principles of data openness, the rules and procedure for sharing and transferring public sector information for re-use and entities that provide or transfer this information, as provided for in Art. 1 of this Act. Notwithstanding the fact that this act implements Directive (EU) 2019/1024 of the European Parliament and of the Council of June 20, 2019 on open data and re-use of public sector information into the Polish legal order (Journal of Laws EU. L. of 2019, No. 172, item 56), these provisions were introduced into the Polish legal order to increase the amount of public data that can be used, for example, to conduct analyses, research or for the purposes of artificial intelligence solutions, including for business and industry or crisis modelling.

The act replaced the previous act on re-use of public sector information of 25 February 2016. The scope of the subject matter of the act includes above all the rules of free sharing of information from the public sector, with specified exceptions as well as the mode and manners of transferring such information for re-use, modified rules for sharing information for state museums, self-government museums, public libraries, research libraries, pedagogical libraries and archives, rules and procedure for sharing research data produced or collected as part of scientific activities financed from public funds and re-use of public sector information, in particular having the characteristics of a work or the subject of related rights.

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publication date: January 04, 2023

THE TERM “ONLINE INTERMEDIATION SERVICES”

Undoubtedly, “online intermediation services” is an increasingly popular key term in Polish and EU legislation, which has recently been enriched with the Regulation of the European Parliament and of the Council on the single market for digital services (Digital Services Act) and amending Directive 2000/31/EC, which in this issue is of significant importance within the framework of the so-called new “Internet Constitution” created in the European Union as part of the Digital Single Market policy.

The term “intermediary services” can be colloquially understood as Internet services, in the form of a website, used to mediate between the entrepreneur and the consumer.

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