Introduction to registering a company in Poland
Registering a company in Poland is very popular because it offers increased access to new markets as well as reduced costs. Poland has been an EU member since 2004 and is home to one of the largest markets in Central Europe. The latest economic report from Organisation for Economic Co-operation and Developments (OECD) show that Poland’s economy has grown by 4.2% in 2019 securing its place as the 4th fastest developing economy in the world. Many entrepreneurs are incorporating companies in Poland in order to secure highly lucrative partnerships and contracts. For example, there are more than 100 Irish-owned companies who export to Poland, bringing in over €100,000 in sales each year.
Foreign investment is pouring in and fuelling sustained growth; Poland is currently one of Europe’s largest producers of generic pharmaceutical products and medical devices. Investment in information and communications technology is set to grow by 15% in 2019 alone and the renewable energy sector is expanding as well as the demand for engineering expertise.
Please contact us to find out more about this European economic powerhouse and register a company in Poland today.
What are the main Company Types in Poland?
There are four main kinds of business entity for foreign investors who want to incorporate a company in Poland and they are as follows:
- Limited Liability Company (sp. z o.o)
- Joint Stock Company (S.A.)
- Partnership (SP.K)
- Sole Proprietor
What are the main features of a Polish Limited Liability Company (sp. z o.o)?
- The most popular format for small and medium sized companies
- Minimum share capital is 5000 zlotys (€1200), to be fully paid up
- Minimum number of directors is one
- No restrictions on foreign shareholders
- Annual accounts to be prepared and held at company offices
What are the main features of a Polish Joint Stock company (S.A.)?
- Popular format for larger companies that wish to raise public capital
- Minimum share capital 100,000 zlotys (€24,000), at least 25% to be paid up
- Two-tier system comprising management and supervisory boards
- Minimum 8% of annual profits to reserve fund ( up to maximum one third of share capital)
- Annual accounts and independent audit required
What are the main forms of partnership in Poland?
There are four main kinds of partnership under Polish corporate law:
- Registered Partnership (all partners have equal and unlimited liability)
- Limited Partnership (some partners have limited liability)
- Professional Partnership (some concessions regarding partner liability)
- Limited Joint-Stock Partnership (includes partners and shareholders)
What are the main features of a sole proprietor company?
- The simplest and least-regulated form of business entity
- Popular format for small business enterprises
- Has unlimited liability for all liabilities and debts
- Profits are subject to Polish income tax at individual rates
How easy is it to recruit staff in Poland?
Along with the strong economic growth over the past few years, unemployment has dropped in Poland with the jobless rate just short of 8.2% (December 2016). While some of the country’s brightest young brains have been tempted to move west, taking advantage of EU membership, Poland has a large and well-educated workforce. Please contact us if you would like to discuss a company formation in Poland
What is the Regulatory Environment Like?
The stifling bureaucracy of the Communist era is long gone and Poland now has one of the most liberal economic regimes in Central Europe. Corporate income tax was lowered from 27% to 19% in 2004, reflecting the government’s wish to ease pressure on companies and attract further job-creating investment. Capital and profits can be freely repatriated. However, legal and accounting regulations are complex and local expert assistance is advised. We can help you with this, so please contact us.
Are there any Financial Incentives Available?
Poland offers a broad range of financial incentives for foreign investors including the following: grants of up to 25% for companies setting up in Poland enhanced grants totalling 50% in Special Economic Zones further incentives available through EU-funded schemes.
Can I get a Business Bank Account in Poland?
Poland is emerging as an important regional centre for the international banking community and most major financial institutions have a presence in Warsaw. Local banks are also capable of competing strongly and effectively to provide facilities for foreign investors, but opening a bank account requires specialist advice, and we are experts in the field – we’ll make it simple for you.
How can I get more information about Registering a Company in Poland?
EuroCompanyFormations.com is the prefered agent for entrepreneurs who want to register a company in Poland. We have full Polish company formation and readymade company packages that include bank account and all fees. We have an associate office in Warsaw who will ensure the Polish company setup procedure is dealt with as quickly and efficiently as possible. Please note we can also provide you with a Readymade Company in Poland complete with EU VAT number within 24 hours.
Please contact us for further details on how to register a company in Poland in the quickest possible timeframe.Contact US