Company registration is often equated with a lot of work, a huge amount of documents and queues for the proverbial windows. With a view to streamlining this process, the E-Money system has been created, which enables the establishment of a limited company over the internet.
What does this process look like? What to remember and is this process actually faster and less problematic? To answer these questions we have gathered the most important information about the E-Money mode.
What is the E-Money mode?
The E-Money system was founded with a view to a quick and simplified way of registering a limited liability company. Importantly, this system assumes no need to sign a notarial deed, and the entire registration process takes place via the website. The registration procedure takes place on a ready template, which is available on the website of the Ministry of Justice:
Advantages of company registration in the E-Money mode:
- much faster process that allows you to save time (up to several months!)
- lower fees: traditional fee including a notary fee, the amount of which depends on the amount of capital; the application fee of PLN 500 and the fee for the advertisement in MSiG of PLN 100. The E-Money system strongly limits these costs, requiring the MSiG rate and the entry fee in the National Court Register (total cost approx. PLN 350).
- the process is based on a model contract, which can be a disadvantage and an advantage at the same time – the pattern cannot be changed,
Establishing a company step by step
To properly set up a company in the described mode E-Money, we must register the system of the Ministry of Justice. This is a necessary step, because the registration process requires you to have an active and valid account – only on this basis is the correctness of the application verified. Then, after registration, you must follow the steps below.
- Prepare the name of the company you are registering
- enter the company address. The system allows you to enter the company’s website.
- provide e-mail address of the registered company
- enter the data of the registry court – you will get the choice of data from the drop-down list in the system
- specify the number of partners who manage the company and branches
After completing the application, complete the remaining forms and documents, including the application for entry in the National Court Register. Next, define the subject of business of the registered company and select the appropriate PKD code. If you fill in the applications and all the steps correctly, the system will generate documents and the final application. Before you sign them, verify the data carefully, check their correctness, make corrections if necessary. Once approved, you won’t be able to make any changes, so please review them carefully at this stage.