The Polish legislator has introduced a new type of company – P.S.A. (Prosta Spółka Akcyjna – Simple Joint Stock Company)
Its aim is to enhance development and competitiveness of start-ups. P.S.A. as legal form easy to incorporate, run and dissolute is among others dedicated to small technological firms demanding freedom and flexibility in running business. Incorporation and running of P.S.A. is to be simpler, faster and cheaper than other companies.
Minimal amount of share capital is only 1 PLN while other types requires 5.000 PLN or 50.000 PLN. Provisions regarding P.S.A. are introducing new corporate body, board of directors, which is going to merge and perform entitlements of a management board and a supervisory board. Furthermore, there is possibility to convene shareholders’ meeting by e-mail and run the meeting without a notary. The provision enters into force in march 2020.