When a Polish asset — real property, a share in a Polish company, or a plant — is held through a foreign entity, the collateral picture has two distinct layers. The first layer is the Polish register: what encumbers the asset locally, who holds the mortgage, what enforcement notices are filed. The second layer is the foreign holding vehicle: who controls it, whether it is solvent, and whether the foreign entity itself is pledged or encumbered elsewhere. Both layers must be read together before any lending or acquisition decision.
- What the Polish registers show
- Mortgages, enforcement notices, and ownership entries on Polish real property are disclosed in the Land and Mortgage Register (Księga Wieczysta). Access is electronic and public. Source: ekw.ms.gov.pl · verified 2026-08-13
- What the Polish registers do not show
- Pledges over shares in the foreign holding entity, insolvency proceedings opened abroad, and beneficial ownership registered in a foreign UBO register are outside Polish register scope. Source: KW Act (1982, as amended) · verified 2026-08-13
- Foreign entity layer
- The structure of the foreign holding vehicle must be verified through the register of its incorporation jurisdiction. Availability, cost, and access conditions vary by country. No single Polish source covers this.
- Collateral gap
- A mortgage on the Polish asset may be unencumbered while the shares in the foreign owner are pledged to a third-party lender. That pledge does not appear in any Polish register.
What this report covers
The report maps both layers systematically. On the Polish side, it extracts the current KW entry, lists all mortgage creditors, notes enforcement notices, and checks the National Court Register (KRS) for any Polish intermediate entity. On the foreign side, it identifies the incorporation register of the holding vehicle, obtains the available ownership and encumbrance data from that register, and states explicitly what that register does not disclose.
The collateral angle is maintained throughout. Each finding is assessed against the question: does this affect the value or enforceability of the security? Where a finding cannot be assessed without legal qualification, the report names the finding and stops. Assessment is not included — that is the boundary between a factual report and legal advice.
The Polish asset layer — what the registers show
Polish real property is identified by a KW number. Every KW entry is divided into four departments. Department II shows the current owner — in this scenario, the foreign entity. Department III lists limited rights, enforcement notices, and pre-emption rights. Department IV lists mortgages: creditor, amount, currency, and rank. All four departments are publicly accessible without registration.
A Polish limited liability company (sp. z o.o.) holding the asset appears in KRS. KRS discloses the registered address, management board, share capital, and — since 2016 — the list of shareholders with share values. If the shareholder is a foreign entity, KRS records the foreign entity's name and registration number but does not extend the search into the foreign register.
| Register | What it shows | What it does not show | Access |
|---|---|---|---|
| Księga Wieczysta (KW) | Owner, mortgages, enforcement notices, limited rights | Pledges over shares in the owner entity; foreign encumbrances | Public, electronic, free |
| KRS | Polish company structure, shareholders, share capital | Foreign shareholder's internal structure; foreign insolvency | Public, electronic, free |
| Rejestr Zastawów (Pledge Register) | Registered pledges over movable assets and rights under Polish law | Pledges registered abroad; security interests not filed in Poland | Public, fee-based per query |
| Krajowy Rejestr Zadłużonych (KRZ) | Polish insolvency and restructuring proceedings | Foreign insolvency proceedings; proceedings filed but not yet entered | Public, electronic, free |
| CRBR (UBO register) | Beneficial owners of Polish legal entities | Beneficial owners of the foreign holding entity | Public, electronic, free [see note below] |
CRBR records the beneficial owner of the Polish entity in the chain — not of the foreign holding vehicle. If the Polish asset is owned directly by a foreign company, CRBR contains no entry for that foreign company. The beneficial owner of the asset, viewed through the foreign layer, is invisible to Polish registers.
The foreign entity layer — structure and limits
The foreign holding vehicle must be traced through the register of its incorporation jurisdiction. The availability of information differs substantially across jurisdictions. Some registers disclose shareholders and share pledges in structured form. Others disclose only the registered address and directors. A small number disclose nothing beyond the entity's existence.
The report identifies the applicable register, states what that register discloses at the time of query, and states what it does not disclose. Where the foreign register requires a national identifier, a declaration of legitimate interest, or a locally-recognised electronic signature, the report describes that access condition and the method used to satisfy it. Where the access condition cannot be satisfied by a foreign requester without a local intermediary, that fact is stated explicitly.
| Jurisdiction type | Typical disclosure | Typical gap |
|---|---|---|
| EU member state with public company register | Directors, registered capital, sometimes shareholder list | Share pledges; UBO register closed or access-restricted post-CJEU C-37/20 |
| EU member state — UBO register | Beneficial owner name, nationality, percentage | Access may require demonstrated legitimate interest; varies by member state |
| UK (Companies House) | Shareholders (PSC register), directors, filing history, charges register | Accuracy of PSC data not verified by Companies House |
| Offshore / low-disclosure jurisdiction | Entity name, registered agent, sometimes directors | Shareholders, beneficial owners, and encumbrances typically not disclosed |
The report does not assume a jurisdiction in advance. The foreign holding vehicle is identified first from the KRS or KW entry. The applicable register is then determined from that identification. The scope of the foreign-layer search is confirmed in writing before work begins.
The limit of what the sources allow
Polish registers are complete for Polish-law encumbrances. They do not extend to the foreign holding vehicle. A clean KW entry — no mortgages, no enforcement notices — does not mean the asset is unencumbered in an economic sense. If the shares in the foreign owner are pledged, a creditor of the foreign entity may enforce against those shares and, through them, against the Polish asset. That pledge is invisible to every Polish register.
Foreign registers have their own ceilings. Where a register does not disclose share pledges, the report states that the register does not disclose them — not that no pledge exists. Where a UBO register is closed to foreign requesters following CJEU C-37/20, the report states the access condition and the result of the access attempt. A negative result in a register that does not disclose the relevant field is not a clean result: it is a gap.
The ceiling of what the sources allow is stated before payment. If the foreign holding vehicle is incorporated in a jurisdiction where the relevant register does not disclose shareholders or encumbrances, the report will say so. The scope confirmation sent before the order is accepted includes a description of that ceiling for the specific jurisdiction identified.
What is included at each tier
| Tier | Price (EUR) | Included | Not included |
|---|---|---|---|
| Signal | €710 | KW extract (all four departments); KRS extract for any Polish intermediate entity; KRZ check (Polish insolvency register); Rejestr Zastawów check; identification of the foreign holding vehicle's jurisdiction and applicable register; statement of what that register discloses and does not disclose | Extraction of data from the foreign register; CRBR beneficial owner check; sanctions screening; document translation |
| Standard | €1,500 | Everything in Signal; extraction of available data from the foreign holding vehicle's register (shareholders, directors, capital, filing history, charges where disclosed); CRBR check for any Polish entity in the chain; consolidated collateral map showing Polish and foreign encumbrances side by side | Foreign UBO register query (requires separate legitimate-interest declaration); sanctions screening; legal qualification of findings; translation of foreign-language documents beyond a summary |
| Extended | €3,400 | Everything in Standard; foreign UBO register query where access is available; sanctions screening against EU, US OFAC, and UN lists for all identified principals; document translation summary (EN) for foreign-register extracts; written gap analysis identifying each point where the source chain breaks and why | Legal advice on enforceability; title opinion; assessment of foreign-law security interests; representation in any proceeding |
All three tiers are delivered as a structured written report in English. Delivery is by email to the address provided at the time of order. Typical turnaround: Signal in five business days; Standard in eight business days; Extended in twelve business days. Turnaround is confirmed in the scope confirmation sent before work begins.
Where the sources disagree
Cross-layer discrepancies are a separate finding, not a footnote. If KRS records the foreign entity as the sole shareholder of a Polish sp. z o.o., but the foreign register records a different shareholder at the entity level, that discrepancy is stated as a finding. It does not resolve itself by assuming one register is correct.
Discrepancies between the KW ownership entry and the KRS shareholder list are also recorded. A KW entry may still name a previous owner if the transfer has not yet been registered. A KRS entry may record a share transfer that has not yet propagated to KW. Both dates — the date of each register entry — are included in the report.
Frequently asked questions
Can a Polish mortgage be enforced if the foreign owner becomes insolvent?
The report establishes whether a mortgage exists, who holds it, and its rank. Enforceability in an insolvency scenario involves legal qualification that is outside the scope of this report. The report will identify any Polish or foreign insolvency proceedings that are publicly recorded at the time of query.
Does the report cover the beneficial owner of the foreign entity?
At Standard tier, the report extracts what the foreign company register discloses — typically directors and shareholders of record. At Extended tier, a query is made to the foreign UBO register where access is available to a foreign requester. Where the UBO register is closed or requires conditions that cannot be met, the report states that and describes the access attempt.
What if the foreign entity is incorporated in an offshore jurisdiction?
The Signal tier identifies the jurisdiction and states what the applicable register discloses. If the register discloses only the registered agent and entity name, that is what the Signal tier returns — together with a clear statement that shareholders and encumbrances are not disclosed by that register. Standard and Extended tiers proceed on the same basis: the scope confirmation before the order describes the ceiling for that specific jurisdiction.
Is the report translated into English?
The report itself is written in English at all tiers. Source documents from Polish registers are summarised in English. At Extended tier, foreign-language register extracts are summarised in English. Full certified translation of source documents is not included at any tier and is arranged separately on request.
How is the order placed?
Send the KW number or KRS number of the Polish entity, the name of the foreign holding vehicle if known, and the tier required to info@kordeckipartners.com. A scope confirmation is returned within one business day describing the applicable registers, the ceiling of disclosure for the identified foreign jurisdiction, and the confirmed turnaround. Work begins after the scope confirmation is accepted.
Disclaimer: This report is a factual compilation from official registers and public sources. It is provided for informational purposes only, does not constitute legal advice, and contains no legal qualification of the facts established. KORDECKI & Partners assumes no liability for actions taken or not taken based on this material. For advice regarding your particular situation, please contact info@kordeckipartners.com.