Following the entry into force of the Family Foundations Act, which allows families planning for succession to protect their assets from fragmentation and to keep the family business running efficiently in subsequent generations, we filed an application on behalf of one of our clients to register Poland's first family foundation.
We did this within one hour of publication of the Act's implementing regulation! A DZP team comprising Marek Świątkowski, Michał Klimowicz, Bartosz Saładyk and Joanna Fasula from the Corporate and M&A Practice advised on the optimum legal structure for the family foundation, while Joanna Wierzejska and Grzegorz Sprawka from the Tax Practice provided tax support. Our advice also involved the preparation of statutes setting out the principles which will be the basis for the foundation's future operations and take into account all the needs of future beneficiaries.
“We are delighted to have been able to support our client in the process of setting up the first family foundation in Poland. We are convinced that the use of the new operating format will help develop the business and secure the assets of our client's family.” said Marek Świątkowski, Partner in the Corporate and M&A Practice.