Register of trust and company service providers – a reminder

by Karolina Sieraczek

11 March 2022 ​

30 April 2022 is the deadline for making an entry into the register of trust and company service providers (TCSP). TCSP activities have become regulated activities. 
 
Undertaking TCSP activities without an entry in the relevant register is subject to a fine of up to 100,000 zloty.
 

Who must register

The obligation to register applies to TCSP, that is, entities that provide services as part of which they:

1. form legal persons or organisational units that do not have legal personality
2. perform a management board member function or enable another person to perform such or similar function in legal persons or organisational units that do not have legal personality
3. provide a registered office, a business address or an address for service and other similar services to legal persons or organisational units that do not have legal personality
4. perform a function of a trustee appointed as a result of a legal transaction or enable another person to perform such a function
5. act or enable another person to act as a person who exercises the rights attached to shares for an entity other than a company listed on a regulated market subject to the disclosure requirements under EU laws or equivalent international standards. 

In particular, we recommend that shared service centres (SSC) review the scope of their services to see if they have to register.
 
Newly established TCSP will be allowed to start business only after they have been entered in the register.
 
Rödl & Partner experts will be glad to assist you with registration as well as with other statutory formal requirements to be determined on a case-by-case basis.