Steps to Poland company formation
Poland attracts foreign investors with its favorable environment to do business. The country enjoys great geographical location, the market remains stable for many years, and the national government welcomes businessmen with various incentives. In addition, it is easy to transfer profits outside the country which is a strong reason to open a company in Poland.
Special Economic Zones: get better conditions for your business
Before you proceed with a company formation in Poland, you should define the region where you want to open your business. The government created Special Economic Zones (SEZ) with special terms each, including income tax exemption and exemption from a real estate tax. Currently, there are 14 zones.
To start working in a SEZ and get the mentioned taxes exemptions, an investor needs to receive a special permit. You may also count on a legal and organizational support from SEZ administrations if needed.
How to incorporate a company in Poland
There are several variants of legal entities available for foreigners willing to start their business activities in the country. Each has its own peculiarities in terms of registration and operational processes. In all cases, be ready to provide an ID or passport and an excerpt from the local company registry if you are opening a subsidiary.
To start doing business, an investor should go through certain registration procedures.
1. Draft the Articles of Association and include information about the firm’s business there. This document should be made in the state language, so you will either need the help of a reliable translator or hire a legal consultant who will take care of the translation together with other incorporation procedures.
2. Choose a type of legal entity you want to register. This can be a corporate company or a partnership. To start a corporate company incorporation in Poland (LLC or JSC), an investor should have a certain share capital in a bank and also comply with several conditions to the firm’s management team. Partnerships have different requirements.
3. Make a record in the National Court Register (KRS). An application form is available at any court or you can visit the Ministry of Justice website to get an online form. There are fees to be paid before applying. It takes two weeks for the court to review an application.
4. Get the statistics number (REGON). After receiving a notification from KRS, you have 2 weeks to attend the National Statistics Agency office and apply for the number. You should choose the office where your firm is located.
5. Receive NIP and VAT numbers from tax authorities. No charges are applied for NIP and the fee for VAT is 170 zlotys. However, you should apply for VAT only if your firm’s activities are subject to this tax. Businesses which deliver goods or services to the EU market may also get VAT-R/UE.
6. Register at Social Insurance Office (ZUS). You may do so within one week after you start running your business. There several registration options for your convenience: visit a ZUS office or send documents by mail or email.
Note that there are certain differences in Polish company formation for entrepreneurs coming from EU and other states. The whole incorporation procedure is easier for EU nationals. But once the firm is registered, the owner gets the right to work on the same conditions as everybody else at the market.
Also, to register a Poland company it is not always obligatory to be in the country personally. A legal advisor can do the routine incorporation job for you. He or she will develop Articles of Association, register the firm in the state bodies and get the necessary numbers and permits.
Opening a business in Poland is your chance to get settled in one of the most comfortable European countries.