Liquidation procedure of a branch of a foreign entrepreneur in Poland

Liquidation of a branch of a foreign entrepreneur is proceeded on the basis of the provisions of liquidation contained in the Commercial Companies Code. The first step is to proceed with the entry procedure for the opening of liquidation, when the name of the company is expanded by the phrase ‘in liquidation’. At this stage, the most diligent part is to show the representation before the National Court Register and collect all statutory documents of the parent company. Next, financial documents should be collected in accordance with the Accountancy Act, as the procedure affects the financial period and liquidation settlements and furthermore, the announcement in Court and Economic Journal (Monitor Sądowy i Gospodarczy) needs to be published in order to call creditors to file their claims against the company. The last phase is the deletion of the entity from the National Court Register.