Company Formation and Registration in Poland
Why do you need to incorporate a company in Poland?
Benefits of Fintech Harbor Consulting among registration companies in Poland
Key facts of company formation in Poland
- The company name does not need to be registered in advance. Available names can be checked with lawyers directly in the process of paperwork.
- Poland company registration can be done on a web portal or with a notary.
- The average time for an online procedure is three to five days, and offline registration takes one to three months.
- Shareholders of Polish companies can be representatives of any nationality.
- When registering a company in Poland, you must give the address of the local office.
- It is not required to have a local director. The entire board of the organization may consist of non-residents.
- The Articles of Incorporation may be the Articles of Association of the LLC or the JSC.
- Banking of the legal entity becomes available as soon as it is registered.
- Each director of a Polish company must have an electronic signature.
How much does it cost for company registration in Poland?
Main types of companies in Poland
- Limited Liability Company (Sp. z.o.o.). This organizational-legal form of a legal entity is characterized by the fact that its founders are financially responsible to the extent of the invested capital. It is very well suited for small and medium-sized businesses.
- Joint stock company (S.A.). This is a form of organization of a legal entity in which its share capital is divided between the participants through the issue of shares. Large-scale enterprises usually make the choice in favor of S.A..
- A general partnership. Unlike the previous forms, in this case, the founders are liable for obligations with all their property. On the other hand, the general partnership has its advantages. For example, it is very easy to organize. For this purpose, it is enough to agree with at least two participants.
- Limited partnership. The peculiarity lies in that its participants are liable to various degrees. It is relevant when one of the partners has a business idea and the other has the means to implement it.
Individual entrepreneur. The simplest and, because of this, the preferred form of doing business for foreigners. Among the advantages are the possibility of online registration and easy reporting. Among the disadvantages are availability only for certain categories of people and responsibility for obligations with all the property.
- Partnership. Suitable for a small list of professions, in particular, architects, doctors, lawyers, accountants, etc.
Taxation of companies in Poland
Bank account for business in Poland
- choose a suitable bank with a loyal pricing policy;
- make sure that the chosen institution works with foreigners;
- have a personal meeting with the representative of the bank;
- provide a detailed description of your company, including the type of activity, expected income level, currency to work with, availability of contracts, etc.;
- prepare a package of necessary documents;
- translate the enclosed documents into Polish and notarize the translation.
Is it possible to register an offshore company in Poland?
How to register a company in Poland?
What documents do I need to register a company in Poland?
- a passport with a long period of validity;
- an application for a license;
- information about the founders;
- Articles of Association in Polish;
- Lease agreement for a legal address;
- PESEL number.
Steps to set up a company in Poland
- The choice of the type of activity. Depending on the form of business organization will depend on the package of necessary documents and the amount of authorized capital.
- Approval of the company name. During registration, it is important to check the availability of the chosen name.
- Documents. It is necessary to create a company charter, write an application for a license (depending on the scope of business), and conclude a lease agreement for a legal address. It is also important to translate all the founders’ documents and notarize the translation.
- Contribution of minimal charter capital. This step involves opening a bank account.
- Registration in the National Court Register. After completing the procedure, the company is given a registration number, and all participants are given TIN numbers.
- Publication in the Judicial and Economic Bulletin. After official registration, information about it must be published in the official publication.
- Registration with state authorities. After the paperwork, the entrepreneur must register with the Social Insurance Office and the Polish Tax Office.
In Poland, you can choose the type of company form, the company registration cost in Poland will depend on this. Non-residents have a list of available forms of business: an analog of an LLC – (Sp. Z.o.o), a joint-stock company, a limited company, and a joint-stock limited company.
For example, obtaining a business visa for the business owner and his family members; a small statutory fund does not have to be in a bank account; VAT refund; there is an opportunity to get a loan on favorable terms. Work permits are issued after the registration of the company. Private and commercial real estate is relatively inexpensive, and their registration and purchase are quick. Registration of legal entities in Poland is a great opportunity to obtain not only permanent residence but also EU citizenship in the future.
Yes, any foreigner can open a company in Poland.