Company Registration in Poland
Every businessperson is continuously looking for new opportunities to develop their business. And moving to a foreign market may be the right decision. In general, there are two main reasons why investors decide to set up companies abroad:
- to get access to the new markets;
- to cut costs.
Poland seems an ideal choice to satisfy both needs. The country enjoys an excellent geographical position which opens unique opportunities for doing business on the EU markets and in the neighboring East European countries. The Polish government offers many incentives to foreign businesspeople to encourage them to invest in the country. In particular, the rules to incorporate a firm are quite simple.
Company Registration in Poland: quick procedure to start a business on the EU market
There are several types of legal entities available for foreigners in Poland. These are:
- Limited Liability Company
- Limited Partnership
- Joint Stock Company
- Joint Stock Limited Partnership
Each one of them has its peculiarities, advantages, and downsides. To make a choice, check the national legislation to learn all the nuances of running a business in the country.
No matter which type of a company you select, there are several steps to follow for Poland companies registration.
1. Conclude the Articles of Association. This is a so-call statute of your organization. It should describe your company's objectives and scope of activities, provide information about the shareholders and members' responsibilities and include some other data. Note that the document should be made in Polish.
2. Make a bank deposit. The Polish legislation requires to have a certain amount on a company's bank account before it starts working. The sum depends on the type of legal entity. Thus, to incorporate a JSC be ready to show the proof of having 100,000 zlotys on the deposit. For an LLC, 5,000 is enough.
3. Register the company in the Poland company register (National Court Register). This step can be done with a hard copy received in a selected court or with an online form available on the website of the Ministry of Justice. Make sure you pay the fees before applying.
4. Get a REGON number. Once you get the notification from the National Court Register, you will have 14 days to apply for the REGON number in the National Statistics Agency. Find the office responsible for the area where your company is located.
5. Get NIP and VAT numbers. These numbers are tax authorities’ jurisdiction. However, not every company needs the VAT number. It all depends on the scope of activities your firm will provide.
6. Register company in Poland Social Insurance Office. You can do this a week after your company starts working. Both, printed and digital application forms are allowed.
Apparently, the whole registration procedure is time-consuming and stressful. The good news is that a foreigner is not always obliged to submit the documents personally or even be present in Poland to do that. A lawyer appointed by a power of attorney can do all the job for you. In fact, an experienced consultant won't need much time to go through the incorporation procedure.
Our team has been providing professional services to foreign investors for many years. We know how to register a company in Poland quickly and are ready to assist you with any issue that you encounter on the Polish market.