Basics of incorporation a company in Poland
It is very profitable for shareholders to establish a company in Poland, since it opens entry to new marketplaces, and you can do business on preferential terms. Poland has been a permanent member of the EU for 17 years. Compared to 2019, the country's economy has grown significantly and is today considered one of the 5 fastest growing economies on the planet.
Poland is attractive for investors, because a lot of rich other investors come to its territory, with whom it is profitable to sign contracts there.
Poland is attractive not only because of its advantageous territorial position, but also because of the constantly growing economic environment. Throughout the previous few years, Poland has become the clear leader in the production of medicines and treatments among all EU countries. The IT sphere and energy are also developing very rapidly.
What formats of companies exist in Poland?
International investors have the opportunity to establish a firm in Poland, choosing one of four types of legal entities:
- Limited Liability Company (sp. z o.o)
- Co-partnership (S.A.)
- Co-ownership (SP.K)
- Individual Entrepreneur
What are the key characteristics of a Polish Limited Liability Company (sp. z o.o)?
- This type is most often chosen by SME
- Least joint stock is 5000 zlotys (€1200), to be completely paid up
- Least amount of executives is one
- No limits on overseas shareholders
- Yearly bills to be arranged and conducted at firm headquarters
What are the key characteristics of a Polish Co-partnership (S.A.)?
- Most often this form is used by larger firms to attract more capital
- Least joint stock 100,000 zlotys (€24,000), minimum 25% to be paid up
- Two-layer structure encompassing directors and executive boards
- At least 8% of yearly revenues to preserve financing (up to top one third of joint stock)
- Yearly accounts and unbiased inspection needed
What are the key types of Co-ownership in Poland?
There are four key types of Co-ownership according to Polish commercial regulation:
- Registered Partnership (all associates have the same and limitless liability)
- Limited Partnership (several associates have restricted liability)
- Trade Association (a few allowances concerning partner liability)
- Company Limited by Shares (comprises partners and investors)
What are the key characteristics of an individual entrepreneur company?
- The easiest and least-controlled type of company
- Common form for SME
- Has the complete responsibility for all debts and obligations
- Revenues are regulated by Polish income tax at special ratios
How simple is it to hire workforce in Poland?
In recent years, Poland has seen not only economic growth but also an improvement in the joblessness situation. Despite the fact that many highly skilled workers have relocated to more developed EU countries, Poland is still famous for its well-trained personnel. If you have any questions about how to organize a firm and hire team in Poland, you can easily get an answer from us.
And what about the law?
Poland managed to get rid of the long bureaucratic procedures of the socialist era, and now it is a progressive country with a developed legal system. Back in 2004, the country reduced the level of taxes for firms to create a favorable environment for its development. There are no problems with the repatriation of profits. However, inexperienced investors in the Polish system may find it somewhat difficult to understand the issues of law and audit. To do this, we recommend hiring qualified professionals and consultants. You can do it with us.
How about financial aid?
Poland needs overseas shareholders to come to its territory. That's why you can easily get start-up grants that cover 25% of your costs, and in some special economic zones as much as 50%. Part of the aid also comes from the EU.
How to open a corporate bank account in Poland?
As you have already understood, Poland is a strategically important country of the EU and the whole world. That is why the leading financial institutions are opening their branches in Warsaw. In principle, you can open a corporate account in almost any financial institution. But everywhere there are pitfalls. That is why you will need the professional help of consultants. We may assist you with this.
Where it is possible to obtain more data on founding a firm in Poland?
The best consultant for those who intend to open a firm in Poland is our company. We may offer you a ready-made company, with all the paperwork and bank accounts. All our processes are controlled by the Warsaw headquarters. Your request will take no more than 24 hours until you receive your finished firm. Get in touch with us for more information and our best consultants will help you.