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
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.