What Do You Need To Remember After You Bought a Ready Company?

Are you planning to buy a ready company? Buying a company that already exists will help you not only save a lot of time, but also start your business on the day of purchase.

Today, we will tell you what formalities to accomplish by deciding on such a move.

A ready limited liability company is an entity set up by a natural person or company for resale. In most cases, the company’s share capital for sale is PLN 5,000, the contract is universal and the subject of activity (PKD) – very wide.

The purchase of a ready-made company is an ideal solution for people who want to avoid the excess of formalities related to the company’s own registration (more details in the article: What benefits is the purchase of a “ready company”. Ready company is fully registered, so it has a number KRS, Regon and NIP and, optionally, VAT registration (both Polish and European).

Importantly, buying a company will allow you to start business on the day of purchase. Especially that many companies to buy have additional licenses and concessions, for example for forwarding.

Necessary formalities

Necessary formalities

However, if you have bought a company, it will be necessary to complete several formalities.

The transaction should be notified to all authorities in which the entity is registered – the court of the tax office, possibly the bank and the social security institution.

The first step should be filing in the district court with the department of the National Court Register (Krajowy Rejestr Sądowy) documents updating the company’s data in the register of entrepreneurs. I am talking here about information about changing the company’s shareholders, about the management board members representing the company or about any changes in the company’s agreement.

If the current PKD of the company does not correspond to the new industry, you can also change it.

The address, name and method of company representation can be changed, but this is not a necessity.

Changes in the tax office

We do not always have an obligation to inform about changes in the tax office. If there was only a change of shareholders and management – there is no need to report changes. However, if the company’s registered address has also changed, these changes should also be reported to the tax office – claims one of the specialists from the consulting group of the McCarthy & Taggart Group.

For data updates, a fee is only payable at the registry court. In other offices, making changes is free.