Company registration in Poland - COREDO

Company registration in Poland

Poland, situated in the central part of Europe, is a sizable country and a member of the European Union. Despite its EU membership, the official currency remains the Polish zloty (PLN). Polish legislation is generally favourable to foreign investors, although there are still some existing restrictions.

The Polish economy is actively developing and holds considerable promise. Remarkably, economic indicators have exhibited steady growth for 28 consecutive years, marking a record achievement within the European Union as of 2019. The country’s GDP and quality of life continue to rise steadily. The local economy is based on mechanical engineering, the coal industry, metallurgy, textile and chemical industries, services, and agriculture. Additionally, there is active development in renewable energy, tourism, and the IT sector.

 

ADVANTAGES OF REGISTERING A COMPANY IN POLAND

Naturally, the primary advantage of business registering in Poland lies in the country’s favourable geographical location and well-established transit routes connecting Western and Eastern Europe. Additional advantages of the jurisdiction encompass:

  • Stability of the economy and political climate.
  • Developed modern infrastructure.
  • The opportunity for duty-free trade with EU countries.
  • Highly qualified yet relatively inexpensive personnel.
  • The opportunity for preferential tax conditions.
  • Relatively quick company registration.

TYPES OF BUSINESS ORGANIZATION AVAILABLE IN POLAND

The array of organizational and legal forms for businesses in Poland is diverse, though not all options are accessible to foreign citizens. The most popular among non-residents are:

  • Sp.z.o.o — closed limited liability company, similar to an LTD. It requires only one founder, and the minimum number of shareholders is one, with no maximum limit. The minimum authorised capital must be 5000 PLN or about 1200 EUR.
  • S.A. — public limited liability company. Popular among medium and large businesses, it demands a minimum authorised capital of 100,000 PLN or about 23,800 EUR, and only one founder is required for registration.
  • Partnerships. According to Polish law, various types of partnerships can be registered, including full, professional, limited, and limited liability partnerships. Establishment requires a minimum of two partners, who can be either individuals or legal entities.

Foreign companies also have the option to open branches and representative offices in Poland. Activities of Sp.z.o.o and S.A. with foreign capital in Poland are regulated by the Commercial Code and the Law on Companies with Foreign Participation of 1991. These documents were amended and supplemented in 1996.

Furthermore, Poland features 6 special economic zones (SEZs) where foreign companies can enjoy special tax benefits and more convenient conditions for doing business.

 

FEATURES OF COMPANY REGISTRATION IN POLAND

When registering a business in the Republic of Poland, founders need to gather a set of documents, including personal details of founders and shareholders, constituent documents, and a memorandum, all certified by a notary. It is also essential to find and rent a local office for an official legal address and open an account at a local bank. Once the company is successfully registered in the National Court Register, founders must promptly submit information about the final beneficiaries to a special register within 7 working days. Additionally, within 21 working days, details about the company’s bank account and accountant must be forwarded to the tax authorities at the place of registration.

It is worth noting, that despite the seemingly straightforward registration process, foreign citizens often encounter unexpected bureaucratic challenges and nuances that can be difficult to navigate independently. To avoid unnecessary complications during the company registration in Poland, we recommend seeking assistance from COREDO managers. They possess a thorough understanding of Polish legislation and extensive experience in the local legal field.

OUR SERVICES

To facilitate the registration of a trading company in Poland, COREDO offers a comprehensive package of services, which includes:

  • Assistance in preparing the necessary documents for registering a new company in Poland (available for both in-person and remote registration).
  • Provision of a legal address with correspondence services for one year.
  • Registration with all relevant authorities and obtaining tax and identification numbers.
  • Submission of an application for VAT registration.
  • Filing of mandatory tax returns and an application to Central Register of Ultimate Beneficiaries.
  • Consultation on the selected area of business activity.
  • Payment of government fees associated with company registration.

The following services are not included in the COREDO package and will incur additional costs:

  • Opening a bank account – €2,000 + VAT.
  • Registration and acquisition of a PESEL number (internal identification number for a member of the company’s board of directors), and activation of EPUAP (state platform for communication with government agencies) – €350 + VAT.
  • Obtaining an electronic signature – from €250 + VAT.
  • EORI number – €200 + VAT.
  • Corporate documents (extract from the commercial register and articles of association, certified by apostille) – €350 + VAT.
  • Social insurance payment (ZUS) – approximately €400. Note: These fees will not apply if the company structure includes a minimum of two founders.

Cooperation with COREDO in registering a business in Poland offers several advantages, including the expedited processing of necessary documents and the option for remote registration, eliminating the need for the personal presence of the director and founder.

To initiate the registration process, the client must provide:

  • Three preferred company names.
  • Identity documents of the company’s director(s) and shareholder(s) – a scan or photo of the passport and ID/driver’s licence (both sides).
  • Proof of residential address for the director(s) and shareholder(s) issued within the last 3 months.
  • A completed and signed KYC form.
  • A description of the planned business activity, detailing the goods and services the company intends to offer.

To register a company in compliance with legal requirements, additional information and/or documents may be requested, which the client must provide promptly.

COST OF SERVICES AND PROCESSING TIME

Service package cost: €1,800 + VATNote: The price may vary depending on the specific circumstances.

The estimated timeframe for company registration is 5-15 working daysNote: The duration of the service may vary depending on the specific case.

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