How to set up a company in Poland?

Fintech Harbor Consulting | How to set up a company in Poland?
Reviewer: Bohdan Popovchenko
Reviewer: Illia Ivanko
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Poland is famous not only for the footballer Lewandowski or the incredible «barszcz biały». Poland is one of the countries that have long become friendly for doing business.

Setting up a company in Poland: Key factors to consider

Having asked the question of how to set up a company in Poland, it is worth considering the main key points, such as:
  1. choosing the most optimal business form/structure;
  2. development of a business plan for the future company, taking into account the chosen form of business;
  3. finding a company name and registering a trademark (if necessary);
  4. fulfilment of requirements regarding the minimum authorised capital;
  5. searching for an office to conduct business;
  6. consideration of tax/accounting requirements depending on the chosen form of business activity of the enterprise;
  7. employment of employees in accordance with labour legislation;
  8. obtaining licenses and permits (if necessary);
  9. opening a bank account.
Fintech Harbor Consulting | How to set up a company in Poland?

Options for setting up and carrying out business in Poland

When looking for an answer on the Internet to the question “how to open a company in Poland”, you should focus on what form of ownership you want to choose for your future business. Among the existing forms of economic activity, the following can be distinguished:
  1. Individual entrepreneur (Jednoosobową Działalność Gospodarcza);
  2. Limited Liability Company (Spółka z Ograniczoną Odpowiedziądąą, often abbreviated Sp. z o.o.);
  3. Partnership;
  4. Joint-stock company (Spółka Akcyjna – S.A.);
  5. Branch or representative office;
  6. Subsidiary company;
  7. Cooperative (Spółdzielnia);
  8. Purchase a ready-made company.

Legal Requirements and Documentation

A general overview of the legal requirements and required documentation is as follows:
  1. Choose the structure (form) of your business, depending on what economic activity you plan to conduct.
  2. Find available company name for registration.
  3. Prepare the charter or partnership agreement.
  4. Choose an office – the official address in Poland, where official company correspondence can be sent.
  5. Decide on the size of the authorized capital for limited liability companies and joint-stock companies.
  6. Before registration, you should prepare the national and foreign passports of the shareholder/ director, as well as confirmation of the address of registration of the shareholder and director (for example, a utility bill receipt), their contact details (phone number/email address), which must be entered in the company register. In addition, if the shareholder or director has a tax number in Poland (PESEL), this document must also be prepared and added to the general list of documents.
  7. Register your company in the National Court Register through a notary or electronically.
  8. Obtaining a tax identification number (NIP) and a statistical identification number (REGON) from the local tax office.
  9. Issuance of permits and licenses for conducting business.
Fintech Harbor Consulting | How to set up a company in Poland?

Steps in setting up a company in Poland

Setting up a company in Poland includes the following stages:
  • Stage 1 — choosing the form of ownership of the enterprise
  • Stage 2 — preparation of the charter and authorized capital
  • Stage 3 — filing an application with the National Court Register
  • Stage 4 — registration of the REGON/NIP number
  • Step 5 — opening a bank account.
  • Step 6 — registration with the State Treasury Service: registration of the tax number and registration as a VAT payer (if any)
  • Step 7 — business insurance
  • Step 8 — production of a company seal.

What is the cost of opening a company in Poland

The cost of registering a business in Poland is formed individually depending on the client’s requirements. The services of a notary, a translator if necessary, and possible official fees are paid separately. In addition, companies are also required to pay a minimum share capital.

Open a company in Poland: Useful tips

Company incorporation in Poland is available to all foreigners with some special features. The company’s owner must be of legal age, and have a valid foreign passport, the validity of which is at least 18 months from the date of submission of documents to the relevant authorities.
Fintech Harbor Consulting | How to set up a company in Poland?

Open a business bank account

To open a bank account, an individual will need:
  • personal presence at a bank branch;
  • a foreign passport or ID card. It should be noted that some banks do not accept a passport without biometrics;
  • PESEL number (if available);
  • the phone number of the Polish mobile operator.
    If you plan to operate as a sole proprietor, such an account will be sufficient.
    If you open an account for a company, additional conditions appear:
  • the personal presence of one of the shareholders of the company is required;
  • the account can be opened in euros, PLN, pounds, or francs;
  • original passports of all shareholders and managers of the company are required;
  • originals and copies of founding documents must be provided.
Before visiting a bank branch, you should definitely check the conditions for opening an account in the selected bank.

Create a trusted profile or electronic signature

In Poland, an electronic signature is considered a Trusted profile (Profil zaufany) in ePUAP. Elektroniczna Platforma Usług Administracji Publicznej is an electronic platform for public administrative services in Poland.
To create a trusted ePUAP profile, you need to:
  1. register on the ePUAP website by entering your first name, last name, PESEL, email address and password. There you can also choose a nickname that will be used to log in to the site.
  2. follow the link to activate the account, which will come to the e-mail.
  3. after successful registration on the ePUAP website, select the service “Create a trusted profile” (Utwórz profil zaufany).
  4. choose a method of identity verification: through a verification point, through a bank, or the mail. If you choose “confirmation point”, you need to specify the place, date and time of your visit. If you choose “bank”, you need to have an account in one of the partner banks of ePUAP (in particular, PKO BP, ING or Aliorze) and pay PLN 1.
  5. activate the trusted profile by entering the activation code received through the confirmation point or the bank.
If everything is done correctly, now you have a Trusted profile in ePUAP which can be used during the process of opening a company in Poland.

Choose the appropriate PKD code

The rules for opening a business, in particular setting up a company in Poland, do not look too complicated and confusing. This abbreviation is a collection that systematizes socio-economic activities carried out by entrepreneurs in Poland, regardless of the size/model of their business.

Conclusion

Don’t ask how to open a company in Poland or how to open a company branch in Poland, contact a good legal advisor. You have an idea for a future business, and FINTECH HARBOR CONSULTING team knows how to bring this idea to life – set up a company in Poland.
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