Polish law: get the best for your business in Poland
Poland encourages foreign investment by offering a broad local market and various incentives for entrepreneurs starting their business activities in the country. The costs of logistics, workforce, services are low in comparison to other European states. Also, the state demonstrates a stable economic growth for many years.
To get the most out of the tremendous amount of opportunities, a business owner should possess a decent knowledge of the local legislation. Another option is to hire a law firm able to provide expertise for business and assist their clients in settling the relationship with the state bodies.
Polish company law: rules for business
Several legal acts regulate entrepreneurship in Poland. The rules are the same for foreigners coming from EU and Polish citizens. Entrepreneurs from other states may operate only certain kinds of firms. A qualified Polish lawyer can provide an insight on the laws applicable to foreign entrepreneurs in Poland.
Types and requirements to settle a company
Polish laws allow opening several forms of legal entities. These are corporate firms (LLCs and JSCs) and partnerships. In addition, foreigners can also open representations of their domestic businesses.
No matter what company you want to incorporate, there are certain procedures to be followed. For instance, the firm should get a notice in the National Court Register and taxation bodies. Also, all legal entities are required to submit annual financial reports; some firms should also fulfill audit requirements.
According to the company law in Poland, each firm should have a Board of Directors, certain share capital, an account in a bank and few more attributes. Also, a firm should have Articles of Association which contain the main points about the firm’s business.
Finally, there are two ways to terminate a firm’s existence – voluntarily or upon a court’s decision. The latter cases usually happen when the firm is no longer viable for future activities or it has violated the Bankruptcy Law.
There are law firms in Poland which can provide their expertise on the local legislation and help you find the best variant to start, liquidate or dissolve your business as well as comply with all regulations while operating it. Legal experts will also help you to apply for special authorizations depending on the framework of activities a firm intends to perform.
Here are few more reasons to hire a Polish legal advisor:
- A necessity to collect debts (for example, resulted from amicable actions or litigation proceedings).
- An aspiration to find the most efficient taxation scheme for your business (for example, VAT, payroll etc.). An attorney will give you all the information whether it is possible to get a foreign tax relief for your business.
- You are interested in settling a holding company and would like to make it as quickly as possible as well as avoid potential difficulties.
No matter what kind of legal assistance you need in Poland, you can easily get it by hiring a lawyer capable of providing proper expertise on the national legislation.