Business activity regulation in Poland
The Polish Company Act consists of several separate Acts that govern how companies are incorporated and operated in Poland. The Companies Act, the Accounting Act, the Act on the National Court Register provide the governing laws, along with the Commercial Companies Code and the Act of Freedom of Economic Activity.
Poland allows foreign individuals to conduct business activities under the same rights as Polish citizens. This rule applies to
foreign investors from the EU and EEA member states, foreigners who have obtained a
residence permit or a work permit in Poland. Foreigners from other countries are subject to operating only certain types of companies in Poland. Our
Polish company formation experts can help you with detailed information if you want to know everything about the legislation applicable to
foreign investors in Poland.
Types of Polish companies
According to the Polish Company Act, there are several
types of companies that can be
incorporated in Poland:
- sole proprietorship;
- civil partnership;
- registered partnership;
- limited partnership;
- professional partnership;
- joint-stock partnership;
- joint-stock company.
Apart from these business forms, foreign investors can also open
branches or
subsidiaries in Poland. Our
team of company formation agents can offer you detailed information about each
type of company.
Requirements for Polish companies
Polish companies are required to have management bodies. The Board of Directors makes important decisions and supervises the management of the company. The Board can appoint members of the executive board.
Polish limited liability companies are required to have a Board of Directors of the initial share capital exceeds 500,000 PLN and the company has more than 25 shareholders. Companies in Poland must have a
bank account opened in their name in order to deposit the necessary
minimum share capital required for incorporation. Our
company formation specialists can offer you more information about the minimum share capital for each
type of Polish company.
Companies in Poland may choose to terminate their activities voluntarily (voluntary liquidation) or they may be forced by a Court decision to cease functioning (Court liquidation).
Company dissolution and liquidation are specific processes that should be handles by
company formation representatives in Poland.
Legal entities are also required to follow the steps for
VAT registration in Poland, when applicable for the category of goods they provide.
As far as the reporting and auditing requirements are concerned, a local team of
accountants in Poland can provide details.
