Company Incorporation Poland

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Introduction to Polish Company Formation

There are generally two reasons why business investors set up companies abroad: to access new markets and to cut costs. Poland joined the EU in 2004 and scores exceptionally well on both counts. The Polish market is the largest in Central Europe – larger, in fact, than the other nine new EU members put together – and labour costs are low. Additionally, foreign investment is pouring into the country, fuelling sustained economic growth of more than 5% a year.

 

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What are the main types of Polish Company Registration?

There are four main kinds of Polish company to incorporate, as shown below:

  • Limited Liability Company (Sp. z o.o)
  • Joint Stock Company (S.A.)
  • Partnership
  • Sole Proprietor

 

    What are the main features of a Limited Liability Company (Sp. z o.o)?

    • It is the most popular format for small and medium sized companies
    • The minimum share capital is 5,000 zlotys (€1,125), to be fully paid up
    • The minimum number of directors is one
    • There are no restrictions on foreign shareholders

     

    What are the main features of a Joint Stock Company (S.A.)?

    • It is the most popular format for larger companies that wish to raise public capital
    • The minimum sharecapital of a Polish SA is 100,000 zł.  (appx EUR 25,000).  
    • On set up a minimum of 25,000 zł is required to be paid in to the company bank account and the remaining 75,000 zł is to be paid in during the timeframe as set out in the founding notary deed
    • There is a two-tier system comprising management and supervisory board
    • 8% of the annual profits should be put into a reserve fund (maximum 30% of share capital)
    • Annual accounts and an independent audit are required

     

    What are the main forms of Partnership in Poland?

    There are four main types 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?

    • This is the simplest and least-regulated form of business entity
    • It is a very popular format for small business enterprises
    • The Sole Trader has unlimited liability for all liabilities and debts
    • Profits are subject to Polish Income Tax at individual rates

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      Polish Company Formation

      How easy is it to recruit staff for those wishing to open a company in Poland

      Despite strong economic growth over the past few years, unemployment remains a serious problem in Poland with the jobless rate just short of 20%. 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 speak to one of our recruitment specialists in Warsaw.

       

      What is the Polish Company Registration 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 financial incentives available for those considering Company Incorporation in Poland?

      Poland offers a broad range of financial incentives for foreign investors:

      • Grants of up to 25% for companies setting up in Poland
      • Enhanced grants totalling 50% in Special Economic Zones
      • Further incentives are also available through EU-funded schemes

       

      How easy is it to close a Polish company?

      Please click here for further details and services on closing a company.

       

      Polish Company Registration

      And what about banking facilities?

      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 seeking Polish company formation, however, opening a bank account requires specialist advice. We are experts in the field and we can make it simple for you.

       

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      Company Name Check Service

      In Poland, company names have to be approved first to see if they are acceptable as well as available for use. They will only be rejected if they are the same or similar phonetically or in spelling of an existing company or if the name implies state ownership or sponsorship. Certain words such as Insurance, bank or group may require special permissions. Click here to fill in our form and get your name checked now…