Poland Company Formation
For many years, Poland has been one of the most preferred destinations for foreign investment. The country boasts with the most developed economy in the CEE region and holds the leading positions in terms of GDP.
According to the 2018 ranking of the US News & World Report, Poland came in the 3rd place among the most attractive 20 countries for investment. The World Bank predicts that the Polish economy will stay in good condition despite several negative factors in the region.
Best sectors to incorporate a company in Poland
The most attractive business sectors to invest money in Poland are:
- aviation and automotive sectors
- food industry
Also, the Polish government provides aid to foreign businesspeople whose activities deal with renewable energy, environmental protection, training, logistics.
Poland company formation: a simple way to launch a business in the EU
Setting up a company in Poland gives tremendous opportunities for business activities on the EU territory. Also, Poland has the most favorable conditions for entrepreneurs if compared to other EU member states. The national government does all it can to encourage foreigners to invest in the country's economy.
Special Economic Zones – the best environment for a company in Poland
One of the ways the government uses to attract businesspeople is by offering them special terms, for example, in the Special Economic Zones (SEZ). Those entrepreneurs who decide to register a firm in one of the fourteen SEZ may enjoy income tax exemption and exemption from a real estate tax. Plus, they will get all kind of organizational support from the SEZ administration.
Steps required for a Polish company formation
Before starting the registration procedure, you need to choose the type of legal entity. Foreign investors can select from various kinds of legal entities, including:
- Limited Liability Company
- Limited Partnership
- Joint Stock Company
- Joint Stock Limited Partnership
Each one of them has its peculiarities in terms of registration and operational processes. But the general procedure is alike.
To register a firm in Poland, you must go through the following procedures:
- Conclude the Articles of Association. The document should be made in the national language and must contain information about your Polish company, including its name and the names of shareholders, types of activities the company intends to perform, and some other data.
- Make a record in the National Court Register (KRS). You can get a printed application form at any court or download a digital copy on the website of the Ministry of Justice.
- Get the statistics number or REGON. The National Statistics Agency provides the number.
- Get NIP and VAT numbers from tax authorities. Note that there are several exceptions and not every company needs to register for VAT purposes. Make sure you check that.
- Register at the Social Insurance Office. This step can be done within one week after your company starts working. You may send the required documents either by regular mail or email.
Be aware that there are some differences in company incorporation in Poland for entrepreneurs coming from EU member states and other countries. However, the conditions for running a business are the same for all nationalities.
Contact us for more details about incorporating a firm in Poland. We will be glad to assist you with any legal issues you face when entering the Polish market and working there.
Note that the Polish legislation does not require a foreigner to be present for company formation in Poland. A legal advisor can do the routine job for you. He or she will develop Articles of Association, translate all the documents and file them to the appropriate state bodies. This is a perfect way to save your time.