Business start-up costs in Poland include several fees and taxes that must be paid for the procedures of incorporation and also further taxes derived from the employer status. The first step in the process of starting a company in Poland is its proper registration. Since 1st of July 2011, new provisions of the Act on freedom of economic activity and a new application form for business registration have been established and the Central Register and Information on Business Activity has been created to simplify the procedure of setting up a company in Poland.
When you want to open a Polish company, you have to take in account the following business start-up costs in Poland:
1. Registration fees – along with an application for entry in the register of economic activities, the entrepreneur has to pay an administrative fee that has different values for legal entities or individuals.. In case the business is be subject to VAT, according to the law of stamp duty, there must be paid an additional fee.
2. The business start-up costs in Poland also include the fees and taxes associated with the choice of the company as a form of doing business. The amount of tax depends on the value of the share capital or contributions to the assets of the company.
3. For drawing up and certifying the Company Contract in Poland, the entrepreneur must address to a a public notary. The form of a notarial deed is required, for example for the agreement of a partnership. The Polish Law of 14 February 1991 establishes the amount of fees to be borne by the notary. The Regulation specifies the maximum rate of pay enjoyed by the notary for notarial actions. This leads to a difference in the level of fees depending on the particular notary.
4. The fees for opening an account are also included in the business start-up costs in Poland. These fees vary depending on the bank and, when choosing the bank institution, an entrepreneur should pay attention to the number of branches opened in Poland and the cost of individual banking transactions (for example transfers).
5. Making the company seal – this action is not complicated in Poland and the costs depend on the point of service.
6. There are also other fees and taxes that can be included in business start-up costs in Poland, even if these fiscal duties arise along with the employee status. The costs of the company are all the expenses associated with running a business. The company's income is calculated as the value remaining after deducting expenses from revenue. The most important fixed costs include:
- Expenses related to the obligation to pay salaries to employees;
- Expenses related to the payment of insurance for employees at the Social Insurance Institution;
- Expenses related to the compliance with the fiscal obligations to the State or local government, under the provisions of local taxes or fees.
Need further information about business start-up costs in Poland? Need to register a new business and you need information and assistance for company formation in Poland? Contact our company formation agents for customized advice and support.
Maciej Oniszczuk is the Managing Partner of our company. He is specialized in commercial law and has helped many businessmen set up companies in Poland.
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