Poland: Setting up joint ventures

The process of setting up a JV in Poland is very similar to the M&A process described in the section on Company Acquisition. It is worth noting here that the freedom of contract principle applies in Poland, i.e. the freedom to structure the rights and obligations of the parties to the agreement. 

A JV usually takes the form of a commercial company (usually a limited liability company, discussed in the section on Company Formation). In addition to standard provisions of the articles of association, the detailed mutual rights and obligations of the participants in the JV are set out in the JV/shareholders agreement (SHA). While the SHA only binds the parties to the agreement, it allows for a very malleable and precise regulation of the relationship between the business partners. What is particularly important is that the SHA is not filed with the registration court, so outsiders do not have access to it. 

Again, in terms of setting up a Polish JV, it is difficult to find differences from other western jurisdictions.