Company Formation and Registration in Poland
Today there are more and more reasons for company registration in Poland. This is transparent legislation, a lot of skilled workers, a common time zone with the European Community, an educated, civilized, and democratic society. In terms of the size of the economy in Europe, Poland is ranked 6th place in terms of GDP and is one of the most stable and rapidly developing countries. In addition, it is quite easy to open a business, even for foreigners.
Registration of a company in the Polish court registrar (Krajowy Rejestr Sądowy) can take from several days to 2 weeks, and making changes to an established company – 3-4 months.
Why do you need to incorporate a company in Poland?
The Polish business registration is simpler than it might seem at first glance. Participation in the board or the position of director of a Polish citizen is not required. There are no territorial or cultural barriers; air, rail, and road communications are well established. With the S24 electronic system, you can open your company remotely.
Registration of an LLC does not require a large authorized capital (usually at least 5,000 Polish zlotys or 1,200-1,250 Euros). It is not mandated to deposit funds into a bank account. The owner can apply for a residence permit after 6 months of the company’s activity and permanent residence for living in Europe after 5 years from the date of getting a residency. Businesses can get a European loan at low rates, they range from 3.5-5.5% in euros. There are also subsidies for small and medium-sized firms.
Benefits of Fintech Harbor Consulting among registration companies in Poland
If you want to carry out company registration in Poland, you cannot do without qualified legal assistance. For example, the company’s name must be unique (it must have the designation Sp. z o.o.). Our experts will help you check if other companies have similar names in the register. Some offices enlist firms with similar titles, which is not allowed. Because of this, the registrar may return the submitted documents. In addition, a company with a name similar to yours may have a registered trademark and prevent you from using your name. In some cases, it will require compensation for damages.
Fintecharbor.com consultants will advise you on choosing the enterprise form and the intricacies of organizing a business in Poland. By the way, when starting your enterprise, the most common form is LLC (Spółka z ograniczoną odpowiedzialnością). An LLC can be registered by one or a group of founders. Only then is it possible to do a full economic activity under the leadership of an elected board of directors consisting of one or more individuals.
Key facts of company formation in Poland
Here are the main points to be aware of before you register a company 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.
Doing business in each country has its own peculiarities. Poland is quite loyal to foreign entrepreneurs, so company incorporation in Poland is an excellent option for opening a business abroad.
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How much does it cost for company registration in Poland?
The cost of registration a company in Poland is 1900 EUR.
Main types of companies in Poland
If you have decided to open a company in Poland, the first thing you need to decide on is the type of company. In this European country, it is possible to register:
- 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.
All of these forms of business organization are suitable for foreigners. Choosing the best one among them depends on the specific situation.
Taxation of companies in Poland
Taxation is another important issue that must be carefully studied before the registration of company in Poland. In this country, the situation with tax law is as follows:
Tax name
CIT (Corporate Incom Tax)
Value Added Tax (VAT)
Registration tax
Rate
Companies with income up to €2 million - 9%, above this amount - 19%.
Standard rate: 23%; preferential rates: 0%, 5%, or 8%.
0.5% on capital invested
Entrepreneurs who start a company in a FEZ (free economic zone), as well as when exporting certain goods and services, can count on tax benefits.
Bank account for business in Poland
As mentioned above, it is possible to open a bank account after Poland company formation. While in Europe as a whole, non-residents often face some restrictions in work, Poland is more loyal in these matters. Of course, some banks serving foreigners may be contrary to domestic policy, but finding an alternative financial institution for refusal does not leave a problem.
So, in order to open an account for a legal entity in a bank in Poland, a non-resident needs to:
- 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.
Poland also allows the remote opening of a corporate account. To do this, you need to scan all the documents and send them by e-mail with the appropriate application form.
Is it possible to register an offshore company in Poland?
Poland belongs to the onshore jurisdiction. This means that when incorporating a company in Poland, entrepreneurs are not fully exempt from income tax, although they can count on a preferential tax rate.
How to register a company in Poland?
When registering a company in Poland, an entrepreneur can use a special Internet portal S24. You can register a company online by filling out an electronic form. On the one hand, this is convenient. On the other hand, foreigners may encounter some difficulties, given that the registration is mainly in Polish. This option is suitable for small and medium-sized businesses with a standard charter. If there is a complicated procedure with changes in the documents, it is better to use the traditional way: a visit to a notary.
What documents do I need to register a company in Poland?
To establish a Polish company, an entrepreneur must provide:
- 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.
It is also necessary to fill out all the forms and blanks provided by the lawyer during registration.
Steps to set up a company in Poland
Company formation in Poland consists of several stages:
- 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.
Reviews
For a long time, we could not decide on the municipality of registration of the enterprise and its form. Thanks to the detailed explanation and advice, including obtaining a Poland crypto license, we managed to quickly register a company in Poland with minimal costs! We are satisfied with the cooperation.
I did not know that registering a business in Poland is so easy and profitable. Received detailed advice on all issues. Your lawyers are very experienced, you can see it right away. I will recommend you.
FAQ
What needs to be done to register a company online in Poland?
You need to go to the website https://ekrs.ms.gov.pl/ and select S24 – company registration. It is important to carefully read the information for entrepreneurs. At the bottom, you will see a “register” button as a new “utworz konto” user. When registering, you must provide an email address and a password. On the page Moje przedsiębiorstwa it is necessary to select “Dodaj” and fill out the form to be able to start your activity. Our specialists can provide you with more information on this issue.
How do I check if a company is incorporated in Poland?
If you want to make sure that business registration in Poland was successful, you should go to the official website of the Ministry of Justice of Poland https://ems.ms.gov.pl/ and then click on the red button Krajowy Rejestr.
Can I start trade in Poland?
The owners of Poland registered companies can be citizens of Poland, as well as nationals of foreign states. It is important to have the required minimum authorized capital.
Is Poland good for commerce?
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.
Can foreigners register a company in Poland?
Yes, any foreigner can open a company in Poland.
How long does it take to register a company in Poland?
Online registration takes three to five days and registration with a notary – from one to three months.
How do I set up a business in Poland?
To start a business in Poland, you need to choose its legal form, prepare a package of necessary documents and apply to a special Internet portal or a notary to obtain the appropriate documents.
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