Information for pawnshops

We would like to inform you, as part of our law firm’s awareness-raising campaign, that the Consumer Pawnshop Loan Act of 14 April 2023 (Journal of Laws of 2023, item 1285) imposes additional obligations on entrepreneurs conducting a pawnbroking business, e.g. starting from 7 January 2024, entrepreneurs will need to be entered in the register of pawnshop businesses.

Entrepreneurs operating a pawnshop business may be entered in the register only after meeting a number of formal requirements. In many cases, this will require changes to the company’s operations, such as:

1. Changing the form of business to a limited liability company or a joint-stock company.
2. Increasing the company’s share capital to the minimum amounts specified in the law.
3. Paying up the share capital exclusively with funds of specific origin.
4. Fulfilling the requirements by persons being members of the management board, commercial attorneys-in-fact and members of the supervisory board.

Entrepreneurs who launched their pawnshop businesses before 7 January 2024 will be able to run them without an entry in the register only until 7 July 2024. By filing an application by 7 July 2024, the entrepreneur can continue their pawnshop business without being entered in the register until their application has been approved and closed.

The new legal provisions secure the performance of additional obligations by specifying fines for their improper fulfilment. For example, entrepreneurs who conclude a consumer pawnshop loan agreement or a sale agreement for a pawned item with a consumer without an entry in the register will be subject to a fine of up to PLN 500,000.

You are invited to find out more:

Information for pawnshops – see