How to Sell Your Company in Poland: A Complete Guide
Hello friends! Vitaliy here, welcome to the “Business in Poland” channel. In a recent video, we discussed how to close a company. For many of you, it was a revelation that you can not only close but also sell a company. This can be very profitable and useful for the buyer. In this article, we will talk in detail about how to “prepare” your company for sale and what practical steps you can take to make the process smoother. We will divide the information into five key points: organizing documents, managing contractors, handling partners, transferring operational activities, and transferring access.
Organizing Documents
The first thing we will discuss is organizing documents. If your company had chaos and documents scattered across different offices, it will be difficult to figure out this “mess,” especially if the company has been operating in Poland for a long time. To simplify this process, start digitizing all documents. Use, for example, Google Drive. Create a folder for accounting, and inside it, folders by months where income, expense documents, and contracts will be stored. It is important that every paper related to your company is recorded in digital format. This will not only simplify finding information but also allow you to have access to all data even if the originals are lost.
Remember that a good buyer will definitely pay attention to your financial reports for each year. If you haven’t closed the financial year yet, take care of it to hand over the company with up-to-date data. Original documents must be stored in Poland for at least five years, and you also need to transfer stamps and any important papers to the new owner. Make sure the document transfer is properly formalized, preferably with a receipt from the new owner.
Managing Contractors
The next point is managing contractors. You might rent premises, work with subcontractors, or have regular clients. It is important to notify them in advance about the new owner. This will help avoid problems when contractors conclude contracts based on their familiarity with a specific management member. If a contract is linked to your name, the new owner must also be informed that they now have the right to sign documents.
Also, pay attention to the deadlines specified in contracts. If you have an accountant contractor under contract, you should know how much longer you have to continue working with them. Usually, it is two to three months, so it is important to analyze all contracts in advance and notify contractors in writing about upcoming changes.
Handling Partners
The third point concerns handling partners. You need to know who will become the new owners of your company and ensure that the old partners agree to sell their shares. Signatures from all partners may be required in the state register, and your actions should not be blocked, especially if one management member opposes the deal. One common reason deals get delayed is lack of consent from all partners. Discuss in advance to ensure everyone agrees to the sale.
Transferring Access
The fourth point is transferring access. If you did everything correctly from the start and created a separate corporate email, the process of transferring accounts will be easier. Contact the system you used for work so that the old and new owners can jointly manage accounts. For example, if you used the ZUS system for social contributions, make sure the new owner can access the necessary information. This can save time and avoid misunderstandings.
Systems like the “Proces PL” platform require the new owner to create a new account, so provide instructions in advance to avoid problems after the sale.
Transferring Operational Activities
And finally, the fifth point is transferring operational activities. If your company is small, the new management may need detailed instructions on how current processes are carried out. Consider holding a training session for the new owner to explain all current operations and responsibilities. This will not only help with management transfer but can also increase your company’s value during sale because the new owner will confidently understand all aspects.
Conclusion
In conclusion, selling a company in Poland is a serious step that requires careful planning and preparation. Start by organizing documents, notifying contractors and partners, transferring access to systems, and clearly transferring operational activities. Each of these points will make your life much easier and will allow you to effectively sell the company and ensure its successful operation under new management.
If you have experience selling or buying a company in Poland, share your tips and opinions in the comments. Don’t forget to like and subscribe to our channel to not miss new and useful materials about business in Poland. Thank you for watching, see you next time!
