Why choose Poland for business, and which form of legal entity is better?
Simplified forms of enterprises are not available to foreigners without European passport such as the Individual Enterprise and General Partnership, and therefore there is no tax benefits for them .
For registration or acquisition a foreign entity in Poland, the following forms of legal entities :
- LLC ( Limited Liability Company)
- OJSC (Open Joint Stock Company)
- Limited partnership - a form of legal entity long-forgotten in the CIS countries is still quite popular in Europe and Scandinavia.
Today’s post is about the most popular form of a company - Limited Liability Company, in short LLC
For registration of the company you only need a passport, in case you will be attending in person. If you decide to open a business on the basis of a power of attorney, you will need a proper notary power of attorney and signature sample witnessed by notary - for each person who will be listed as board-directors of the company (or CEO of the company). The Director of the Polish company (CEO of LLC) can operate without a salary, according to the Polish law there is no requirement of putting salary. LLC activities are regulated by the Codex of Trade Enterprises.
Despite the fact that in Poland are many licensed professions , many of them are easy to obtain.
Required minimum capital of the Limited Liability Company in Poland is 5000 PLN ( about 1,250 euro). As for a Limited Liability Company in Eurozone it’s is quite small, in comparison to another European Union countries, where required minimum capital is up to 50,000 euro.
To operate the business, you can take a full-fledged office or virtual one, depending on the needs. Prices for the virtual office with correspondence service in the centre of a city varies from 200 to 250 euro per year.
If you need an office space, the average rates per square meter start from 35 PLN per square meter, the rental rate may be lower if the space exceeds 250 square meters. According to statistics, in Warsaw, is located more than 60% of commercial space for lease from all available office space.
If you are interested in company formation in Poland, please don’t hesitate to contact us. Also if you need an office space for rent, we provide rental services for commercial properties in Warsaw.
