Transformation of a Polish company – why is it worth using the support of a lawyer?
Transformation of a company, which under Polish regulations requires an audit of the transformation plan by an expert auditor, usually takes experienced lawyers between 2 to 4 months. In a situation where the company's transformation can be done without examining the transformation plan, the entire procedure should normally take between 1 to 2 months. During this time, the situation of the company being transformed should be analyzed in detail, especially with regard to the assets it owns, administrative decisions obtained and contracts. Using the help of a professional also often helps to make the transformation process less cumbersome and time-consuming for business owners. Coordination of all stages of the transformation by a professional lawyer, who will ensure smooth cooperation between the accountant, notary and auditor, can be a key factor in quick completion of operations.
Transformation of a company without unnecessary problems and complications
Polish lawyers specializing in business transformation should demonstrate knowledge not only of commercial law, but also of labor law, civil law, tax law, accounting and even administrative law. Failure to take a comprehensive look at these issues can result in the transformation itself doing more harm than good to the company. A lawyer specializing in transformation will ensure, among other things, that the newly formed company has all the licenses and permits necessary to continue its operations.
You can read more about common mistakes made when transforming a company by people who have no experience in such processes in the article Transformation of a company or a partnership – issues to which special attention should be paid.
Transforming a company with the help of a professional saves money
The remuneration of a lawyer specializing in company transformations under Polish law is just one of the costs associated with transforming a company. It should be remembered, however, that although the fee of an experienced lawyer is an additional cost of the entire transformation procedure, the advice of a professional often saves costs resulting from mistakes made during the transformation procedure. The assistance of a professional also often proves essential for choosing the best and most advantageous legal form for a company.