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Company Formation in Poland
Forcompany formation in Poland contact us now. The procedure in this case includes drafting the articles of association, as well as drafting other documents required when starting a company in Poland, such as specimen signatures, affidavits and special forms. Some public notary procedures are also required for company formation in Poland. Also a Polish registered office is needed for receiving mail and tax purposes. Accountancy for company registration in Poland is also compulsory. The investors have the opportunity to choose from varioustypes of Polish structures.
Many entrepreneurs decided to invest in Poland choose a Sp. z o.o. (Limited Liability Company)as thesturture most suited for their business purposes. Like in many jurisdictions, including in Estonia where the limited liability company is named OU, this type of business structure is the most popular in Poland. As a particularity, the incorporation of a SP.z.o.o requires a minimum share capital of 5000 PLN, divided into non-transferable shares. At least one shareholder, one director and a registered office are necessary for company formation in Poland. The liability of its members is limited by their contribution to the capital.
If the investors have a higher capital and want a business that can increase its capital by registering its shares at the Stock Market, they can incorporate a Polish S.A. (Spolkaakcyjna - Joint-Stock Company). In order to do so, it is necessary to provide at least 50.000 PLN for this type of company formation in Poland. The liability of its members is limited by the contribution to the capital.
Other forms of entities are the partnerships where it is compulsory for at least two parties to join in order to set it up. There are several types of partnerships in Poland such as the general partnership (where all the partners are liable for the entities actions equally and can split the profits among them) and the limited partnerships (formed by a general partner and a silent partner who has to deliver capital and has his/her liability limited by that contribution)
Starting a company in Poland requires at least one shareholder and one director are required for company formation in Poland and it is compulsory to have a registered office for the respective company.
Company registration in Poland can be performed by a legal representative who is appointed by power of attorney. Before starting the process, it is mandatory to open a bank accountwhere the initial capital is deposited. This procedure might require the presence of the company’s founder, but it is also possible that the foreign investor finds a bank in his own country that can help him open a bank account at the Central Polish Bank without the necessity to travel to Poland.
VAT deductions. Company registration in Poland for VAT is only mandatory if the company performs activities in a field that is subject to VAT. The required documents for company registration for taxes in Poland are the articles of association, or the company charter, the statistical number, the REGON certificate, an excerpt from the National Court Register and the bank certificate.
After obtaining the NIP, the entrepreneur must register at the Social Insurance Institution and at the National Labor Inspectorate.
The Chief Sanitary Inspectorate has to be notified regarding the incorporation of the company in Poland by submitting a notification containing the type, objectives and address of the newly formed business.
Economy in Poland is rather flourishing, especially due to its private business sector. The Polish government encourages foreign investments in Poland by signing Double Tax Treaties with a large number of countries and by offering a wide range of incentives for entrepreneurs who decide to come from abroad and start a company in Poland.
In 2008, there were registered more than 21,000 foreign companies in Poland, according to the Polish Statistical Office. When it comes to attractiveness, Poland is the eighth country in a top of preferences of foreign investors. The main industries in Poland are auto, coal mining, chemicals, shipbuilding, food processing, beverages and textiles. It is estimated that 36% of the foreign capital is invested in manufacturing. The other main sectors that attract capital to Poland are financial services, transports, logistics and data transfer. Polish agriculture is an area that begins to represent an increasingly more attractive investment opportunity. Also, due to the high growth of Polish economy in recent years, the real-estate market is another area that cought the investors' attention. Germany is the main investor when it comes to company formation in Poland.
Michał Gawlak is an experienced business consultant, specialized in corporate and tax law. He has helped many local and foreign investors open companies in Poland.
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