The Sakhashchyk family reorganizes their business in Poland
They transferred part of their companies and assets to a family foundation. What this form of ownership is and what it offers, journalist Vadim Syakhovich explained in his channel .
Valery Sakhashchyk. Photo: Nasha Niva
The Sakhashchyks' construction business operates in Poland and Germany. One of its main companies, Sahaty, acts as a contractor and general contractor. CUD Development is responsible for the development direction, building its own residential complexes. Currently, its portfolio includes two projects: Osiedle Racławicka in Mszczonów and Zakątek Chmielna in Żyrardów.
In July, noticeable changes began in this business. As Vadim Syakhovich writes, the Sakhashchyks registered two new companies — CUD Budownictwo and CH. The first will also be engaged in contracting work and, together with Sahaty and CUD Development, joined Grupa CUD. According to the group itself, it now has about 300 employees.
At the same time, the ownership structure also changed. The majority owner of the new CUD Budownictwo became the family foundation (Fundacja rodzinna) Fundacja S. CUD Development, which previously belonged in equal shares to Valery and Aleh Sakhashchyk, was also re-registered under it.
Why the Sakhashchyks need a family foundation
Fundacja rodzinna (family foundation) appeared in Polish legislation in 2023. Its main purpose is to create the possibility of preserving family businesses during the transition from one generation to the next. The founder predetermines the rules for managing assets and payments to family members, which allows relatives to receive income without mandatory participation in company management.
Experts Anatol and Lidia Razhkovy from ALG Legal explain other advantages of this business form.
If dividends are received directly by an individual, after the corporate income tax, there is also a tax upon payment of money to the owner. A family foundation allows delaying this second stage and retaining the funds received within the structure for reinvestment.
For example, the foundation can invest them in real estate, securities, or shares of other companies. Tax at the foundation level arises when funds are paid to beneficiaries. Special tax benefits apply to the founder and their closest relatives.
Another feature is that assets transferred to the foundation are no longer the personal property of its founder. This, to some extent, protects them from personal creditors. However, as experts emphasize, the protection is not absolute. The foundation may be liable for certain obligations that arose before its creation, as well as for alimony payments.
According to experts, although the changes in the companies' structure became visible this summer, the Sakhashchyks must have started preparing for the creation of the family foundation much earlier. In Poland, only one District Court registers such foundations. Due to the large number of applications, the process takes about 12-14 months. Therefore, the current changes are most likely the result of a reorganization initiated last year.