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Poland introduces debtor registry

Poland has recently introduced another public registry related to debtors.

Poland is in the process of introducing the Register of Public Law Dues, which is desiged to provide information related to any financial liabilities of an individual or corporate entity.

With the legal foundation already in place, the registry is set to go live in the second half of 2018. The aim is to create a system whereby potential business partners, banks, etc. have comfort in terms of increased security for conclusion of contracts in business transactions; thus strengthening the rights and guarantees of creditors.

The registry will show information regarding financial dues subject to administrative enforcement irrespective of whether the creditor is a local tax office or government unit – for example: general tax, customs dues, dues in respect of social insurance contributions, dues arising from final and binding decisions or other rulings (resolutions of the municipal council), as well as final court judgments, decisions or penalty notices.

In order for such an amount to be entered into the registry, the amounts in play must exceed PLN 5,000 (approx. 1,200 euro); calculation to include associated interest.

The registry will include general data (name and surname or business name, personal identification number, tax identification number of the debtor – both natural persons and legal entities) and general data associated with the creditor, including amount due and interest pending, as well as information about the type of debt and underlying legal foundation.

Data will be available – with certain data protection and procedural safeguards – to any interested person and will be akin to a general corporate search.