News from Poland | In Principle

Magdalena Świtajska from Wardyński & Partners’ Employment & Global Mobility Practice, explains types of contracts used when hiring or working in Poland.

Receivables as an asset are present everywhere in the business world. This is an asset which could be a problem for some, but at the same time an investment opportunity for others. The aim of this article is to consider how healthy and performing receivables could be used to obtain financing from investors and to discuss how non-performing claims serve as an investment in Poland.

It will probably be only months before legislation on corporate groups, also known as the holding law, enters into force in Poland. The proposal is considered to be the most sweeping change in the Commercial Companies Code in the last two decades.

Magdalena Świtajska and Aleksandra Wójcik form Wardyński & Partners’ Employment & Global Mobility Practice, explain the ways of obtaining Polish citizenship.

Many investors and their lawyers consider property restitution, or as we call it in Poland, reprivatisation, to be a purely historical phenomenon. The aim of this article is to analyse if it is true and whether restitution claims are completely irrelevant to real estate investments in Poland.

Transfer pricing is one of the focal points of taxation in Poland. The arm’s-length principle underlying transfer pricing requires related parties to provide products, services or loans to each other on terms that would have been agreed upon between independent parties. When they follow the arm’s-length principle, taxable profits recorded by each party will not be distorted by their membership in the same capital group. The arm’s-length principle must not only be followed, but also be clearly seen to be followed and this comes at the cost of compliance efforts. In this respect, three issues will be analysed below: basic compliance obligations, selected peculiarities of Polish regulations, and transfer pricing documentation for a group of companies.

While business email compromise frauds might be on the decline, businesses are increasingly impacted by ransomware and data hacks. Just in the past few months, the press have reported on a number of large-scale ransomware attacks targeting both private and public entities. The impact of the attacks is always huge: disrupted operations, leaks of trade secrets and personal data, losses to reputation.

Stanisław Drozd and Konrad Grotowski carry on explaining what to expect if you are a foreigner testifying as a witness before the Polish civil court.

Business email compromise, or BEC is a type of cyber-facilitated fraud where fraudsters compromise IT networks, intercept business communications, and by using different manipulation techniques, trick employees into making wire transfers to fraudulent bank accounts. The fraud itself is not a new creature. It is an old trick, merely conducted with the use of modern technologies.

The private rented sector in Poland is on the radar of foreign institutional investors.  Investments in residential rental properties are in vogue in Western Europe. Despite the global crisis caused by COVID-19, investors actively seek opportunities in friendly foreign markets, including Poland. The Polish market is considered promising, even though historically in Poland there has been a tradition of owning rather than renting.

Public procurement is the process by which public authorities – government departments or local authorities – purchase work, goods or services from companies in the market. Recent changes to the public procurement law brought many improvements.

The pandemic impacted a number of businesses in Poland. To prevent some of its negative consequences a moratorium on the filing of bankruptcy declarations was introduced in Polish law on 13 April 2020.