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Company formation in Poland
Comprehensive assistance in company formation, including banking services
How to form a company in Poland
1
Document submission
You submit to us necessary documents of the future founders and directors for the purposes of company formation in Poland and opening a bank account in Poland
2
Payment of services
Payment of our services for company formation in Poland
and/or bank account assistance in Poland
and/or bank account assistance in Poland
3
Company formation
We register a new company in Poland for you. Upon completion of the registraion corporate documents are either delivered to you or submitted to a bank for the subsequent opening of a bank account
4
Bank account opening
In case you request an assistance with a bank account, we arrange an interview at the bank for you, inform you about the date of the visit and accompany you on your way to the bank. After the bank account is opened and active you receive corporate documents of the formed company as well as the access to the bank account
Key aspects to consider prior to forming a company in Poland
Company formation in Poland is one of the most effective ways to receive a temporary residence permit in Poland for foreign citizens.
1. Founders of a company in Poland can either be resident or non-resident in Poland. Founders can be either individuals or legal entities.
2. A resident or a non-resident individual can be a director in Poland. It is not required for Polish companies to have a Polish citizen as one of their shareholders or directors.
3. One individual can be simultaneously a shareholder and a director in a Polish company if such company is registered as a Sp. z o.o. (a limited liability company).
4. There is no requirement for creating substance in Poland - no need to hire local employees or rent an office in order to establish a company in Poland or to conduct business in Poland.
5. Minimum share capital that is required to register a company in Poland as a Sp. z o.o. (a limited liability company) is PLN 5,000 around EUR 1,100.
6. Information about company founders, shareholders and directors after a company is registered in Poland is publicly available in the state corporate register.
Moreover, from 13 october 2019 onwards information about beneficial owners of a company in Poland is subject to submission to the Central Register of Beneficial Owners (CRBR - Centralny Rejestr Beneficjentów Rzeczywistych). Information has to be submitted to this register within 7 days after company formation in Poland.
Requirement concerning information about beneficial owners extends to almost every type of business-entities.
After company formation in Poland it is required to submit the following data:
Also, it is required to submit following data regarding the beneficial owners of a company in Poland:
7. We can help you register a company in Poland remotely, on the basis of a power of attorney. It is necessary for the director of the new company to travel to Warsaw for 1 day in order to open a corporate bank account.
8. It is possible to apply for a temporary residence permit in Poland after company formation in Poland under certain conditions.
2. A resident or a non-resident individual can be a director in Poland. It is not required for Polish companies to have a Polish citizen as one of their shareholders or directors.
3. One individual can be simultaneously a shareholder and a director in a Polish company if such company is registered as a Sp. z o.o. (a limited liability company).
4. There is no requirement for creating substance in Poland - no need to hire local employees or rent an office in order to establish a company in Poland or to conduct business in Poland.
5. Minimum share capital that is required to register a company in Poland as a Sp. z o.o. (a limited liability company) is PLN 5,000 around EUR 1,100.
6. Information about company founders, shareholders and directors after a company is registered in Poland is publicly available in the state corporate register.
Moreover, from 13 october 2019 onwards information about beneficial owners of a company in Poland is subject to submission to the Central Register of Beneficial Owners (CRBR - Centralny Rejestr Beneficjentów Rzeczywistych). Information has to be submitted to this register within 7 days after company formation in Poland.
Requirement concerning information about beneficial owners extends to almost every type of business-entities.
After company formation in Poland it is required to submit the following data:
- Company name in Poland
- Type of a business-entity in Poland
- Registered address of a company in Poland
- Registration number (KRS) of a company in Poland
- Tax Number (NIP) of a company in Poland.
Also, it is required to submit following data regarding the beneficial owners of a company in Poland:
- Full name
- Citizenship
- Place of residence
- Date of birth or Polish Identification number (PESEL)
- Description and type of participation in a company.
7. We can help you register a company in Poland remotely, on the basis of a power of attorney. It is necessary for the director of the new company to travel to Warsaw for 1 day in order to open a corporate bank account.
8. It is possible to apply for a temporary residence permit in Poland after company formation in Poland under certain conditions.
Cost of services
Formation of a Sp. z o.o.
Timeframe - 9 business days
Timeframe - 9 business days
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Advantages of forming a company in Poland
Attractive business-environment
- 6th place in the EU in terms of economic development
- Large logistics center for making shipments to Eastern Europe
- Strong purchasing power
- Well-developed infrastructure
- Low inflation rate
Stability and security
- Political stability
- Secure legal and justice systems
- Comprehensive protection of property rights
- Comprehensive personal security
- Investment protection
Tax benefits
- Corporate income tax rates are 5%, 9% under certain conditions
- Tax benefits for R&D
- Multiple double tax treaties
No foreign exchange controls
- Poland joined the European union which allows it to secure free capital transfer in any currency. Individuals and business-entities, either resident or non-resident in Poland may open bank accounts in Polish banks in any currency
Ease of establishing and doing business
- Minimum share capital requirement for a Sp. z o.o. is just EUR 1,100 (PLN 5,000)
- Remote company formation in Poland is available
- 100% foreign ownership of a company is available
More about Poland
Poland is located in Central Europe and has a territory of 312,679 square kilometers. The capital city of Poland is Warsaw, the largest city and the location of key government institutions.
Population of Poland amounts to around 38,5 million people, Poland is 6th largest state in the EU in regards to population.
Population of Poland amounts to around 38,5 million people, Poland is 6th largest state in the EU in regards to population.
Official currency of Poland is Polish złoty (PLN).
Polish economy is one of the most stable economies among post-soviet states and one of the fastest developing economies in the EU. There are a well-developed internal market in Poland, a flexible national currency and independence from a single-sector export, which allowed Poland to avoid the recession of late 2000s.
Export of Poland consists of machinery, furniture, food industry, clothing and cosmetics. The major trading partner of Poland is Germany.
Growth of real GDP of Poland was 5,1% in 2018 and amounted to USD 580,6 billion, which was possible due to a high internal consumption and a large amount of foreign investments.
Polish economy is one of the most stable economies among post-soviet states and one of the fastest developing economies in the EU. There are a well-developed internal market in Poland, a flexible national currency and independence from a single-sector export, which allowed Poland to avoid the recession of late 2000s.
Export of Poland consists of machinery, furniture, food industry, clothing and cosmetics. The major trading partner of Poland is Germany.
Growth of real GDP of Poland was 5,1% in 2018 and amounted to USD 580,6 billion, which was possible due to a high internal consumption and a large amount of foreign investments.
International business expands to Poland and incorporates a company in Poland primarily for:
Restricted for foreign entrepreneurs are the following sectors:
- wholesale and retail trading
- logistics
- IT
- food processing
- restaurant business
- agritech
- industrial IoT.
Restricted for foreign entrepreneurs are the following sectors:
- operational activity of airports and seaports
- telecommunications
- production, transport and storage of oil products
- creation, maintenance and modernization of military equipment and weaponry
- production, sale and transfer of natural gas and electricity
- postal services.
- Corporate income tax - Standard tax rate 19% or reduced rates from 5% up to 9% under certain conditions. Tax returns are filed on an annual basis. Advance income tax payments are made on a monthly basis
- Dividend withholding tax - 19%
- Interest withholding tax - 20%
- Royalties withholding tax - 20%
- Capital gains tax - 19%
- VAT - Standard tax rate 23% or reduced rates from 0% up to 8%, or tax exempt. Tax returns are filed on a monthly or a quarterly basis
- Personal income tax - from 17% up to 32%.
Apart from such traditional business entity types as a limited liability company (Spółka z ograniczoną odpowiedzialnością – Sp. z o.o.) and a public limited company (Spółka akcyjna – S.A.), Polish corporate law offers to establish a business as:
1. General partnership (Spółka Jawna – Sp.J.)
2. Limited partnership (Spółka Komandytowa Sp.K.)
3. Partnership limited by shares (Spółka Komandytowo-Akcyjna – S.K.A.)
4. Civil law partnership (Spółka Cywilna – Sp.C.)
5. Professional partnerhsip (Spółka Partnerska – Sp.P.)
To receive a detailed description of the company formation procedure in Poland and information about documents necessary for company formation in Poland please contact our experts.
1. General partnership (Spółka Jawna – Sp.J.)
2. Limited partnership (Spółka Komandytowa Sp.K.)
3. Partnership limited by shares (Spółka Komandytowo-Akcyjna – S.K.A.)
4. Civil law partnership (Spółka Cywilna – Sp.C.)
5. Professional partnerhsip (Spółka Partnerska – Sp.P.)
To receive a detailed description of the company formation procedure in Poland and information about documents necessary for company formation in Poland please contact our experts.
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London, EC1V 2NX
Phone: +44 20 8157 4037
Email: request@pil-services.com
