Family foundations in Poland. Part II

Abstract

Polish entrepreneurs have been waiting for a legal act for at least a dozen years will facilitate the succession process understood as taking over responsibility for management by subsequent generations, respecting the assumption that not every successor will be interested in this solution. Such a legal act is the Act of January 26, 2023 on family foundations, which entered into force on May 22, 2023.

The issue of introducing into the Polish legal system regulations allowing the creation of private foundations in the form of family foundations was the subject of a lively discussion, mainly in the family business sector, including on the forum of non-governmental organizations representing them in the last dozen or so years. The above-mentioned enterprises and the non-governmental organizations representing them drew attention to the lack of legal regulations in the Polish legal system that would effectively support the initiation and implementation of the succession process, including the formula of establishing the family foundation

Keywords: family fudations in Poland, fundations, family funds, new foundations in Poland, family assets, public foundations, private foundations, second sector, third sector