By Simon O’ Connor, 24th Nov 2015
Poland is located in the of Europe giving the country easy access to over 250 million consumers. The country offers many attractive incentives for foreign directors including grants up to 50% which helps make it one of the most popular destinations in Europe for start-up companies.
The most common type of company incorporated in Poland by foreign investors is the Polish sp. z.o.o (Limited Liability Company). Incorporating a sp. z o.o in Poland can become complicated and mistakes can be costly. For this reason we do advise you outsource the process to an International Formation Agent such as Euro Company Formations. This will guarantee the process is as streamlined as possible. To get started on your company formation, we will need to following items of information from you:
Company names in Poland must be unique and distinguished from any other company name registered in the country. The National Court Register (KRS) must pre-approve and accept the chosen company name before it can be used. The name can be in any language once the Latin alphabet is used and it also must end with the suffix spólka z ograniczona odpowiedzialnoscia or the abbreviation sp. z o.o. Certain words such as “bank” and “group” will require special permission from governing bodies.
It is mandatory for all companies in Poland to have a registered office within the country. All legal company documents and correspondence should be kept at this address.
Directors & Shareholders
A minimum of one director is required to register a company in Poland. This must be an individual as corporate bodies are not permitted to stand as directors. There are no restrictions on the residency or nationality of the directors. A register of directors must be kept at the company’s registered office.
Much the same as a director, a minimum of one shareholder is required in a Polish company and there are no restrictions on the residency or nationality of the shareholder. A company can have 100 per cent foreign ownership if required.
Polish companies are obligated to arrange accounting records that must be kept at the registered office. They must also submit annual financial statements within three months following the end of the financial year. Auditing of the accounts is only required if the company exceeds a certain thresholds.
The minimum share capital is PLN 5,000 which is approximately €1,200 which must be paid in full on incorporation. The minimum share value of the company must be at least PLN 50 which is approximately €12.
Eurocompanyformations.com can assist you to register a company in Poland. We have an associate office in Warsaw to ensure your company formation process is dealt with in the quickest time possible. For more information please call us on +3531 646 1681 or email us at firstname.lastname@example.org.