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Company Formation in Poland

By 1 February 2022October 31st, 2022One Comment

In this article, our colleague from Gurcan Partners Poland Office, Att. Marta T. Czermińska will mention Company Formation in Poland. Which steps must be taken? What are the differences in the process for foreigners? 

 

Company Formation in Poland

 

In this article, we mention how to set up a company in Poland and what to do after company registration in Poland. Poland is one of the most developed Central-Eastern Europe Countries. Poland attracts quite high foreign direct investment.

One another advantage of Poland is quite low inflation. In December 2018, the inflation rate was 3,16 % (The Source: Poland Statistical Office)

 

Gurcan Partners is a proffesional law and consultancy firm, located in Warsaw. We provide tailor-made incorporation services in Poland. You can make a online appoitment below or contact us via email or phone.

 

Why is Good to Doing Business in Poland?

  1. Strategic Geographical Locations (7 Borders with Germany, Czech Republic, Lithuania, Ukraine, Belarus, Slovakia and the Russian province of Kaliningrad Oblast)
  2. Stable Banking Sector and Currency
  3. Skilled and Good Educated Work Force
  4. Low Labor Cost (Minimum Wage is 480 Euro in July 2018)
  5. Growing economy
  6. Unlike other Central European countries, Poland has a crowded domestic market (Population of Poland is almost 38 Million)

Company Types in Poland for Foreign Investors 

The Polish Commercial Law allows forms of business activity similar to forms in other European countries. It’s possible for foreign investors to set up the following types of business entities:

1) Commercial companies:

a) Corporations: limited liability company  (LLC) and joint-stock company;

b) Partnerships: general partnership, limited liability partnership, limited partnership, a partnership limited by shares.

2) Brach of a Foreign Company

Commercial companies and branches of foreign companies need to be registered in the Register of Entrepreneurs of the National Court Register.

One of the types of corporations, Limited liability company (LLC), in Poland, called, Spółka z ograniczoną odpowiedzialnością” (sp. z o.o.) is the most popular form of conducting business in Poland by foreign investors.

It is a form suitable for small and large size activities. It has legal personality.

 

The minimum share capital required to register a limited liability company
(LLC:sp. z o.o.) is 5,000 PLN (about 1200 Euro).

 

A limited liability company has obligatory the Management Board (minimum one person). The company can have just one founder (shareholder). Liability of shareholders is limited (lack of liability for the company’s obligations with personal assets).

 

Gurcan Partners provides full service for Company Formation in Poland with the professional team and experience. Please contact us.

We will back to you within 24 hours.

@: [email protected]

or call us

+48  22 153 03 60 (English)

 

Company Formation in Poland Step by Step

 

A) Consulting with a local expert

Before making any decision or action it’s highly recommended to consult a legal expert to discuss specific problems and to the best solutions. Please get in touch with us.

 

B) The Decision on the Legal Form of Your Company

One of the basic decisions that need to be taken before the registration of the company is the choice of legal form. The limited liability company (LLC) is the most popular commercial company in Poland, also for foreign investors.

Our team will consult you during all the procedure and direct to you for the most suitable company form in Poland.

 

 C) Choosing the Company Name

Before registration, check if someone does not use the chosen name. The name also must be sufficiently different from the names of other companies on the same market. It may be a name in a foreign language. The name shall include a designation of the legal form.

We check all the options for you before all Company Formation in Poland.

So far we have assisted over 400 companies. Check out our experiences.

D) Choosing the Location and the Business Address

The next step is to choose a place of business. It’s possible to register the company in a virtual office. This is a cost-effective option. Virtual Office is a very popular and cost-effective option rather than to rent an office at the beginning. 

 

Gurcan Consultancy provides a virtual office in Poland for your company.

Please contact us: [email protected]

or Call Us

+48  22 153 03 60 (English)

 

E) The Articles of Association or Statue (The Form of a Notarial Deed)

The Articles of Association or Statue is the basic document of a company. It must be made in the form of a notarial deed. It shall contain:

  1. The name of the company and its registered office
  2. The description of the nature of business – determination of the company’s business on the basis of the Polish Classification of Activities (PKD)
  3. The amount of share capital with the number of shares that one shareholder can hold
  4. The number and a nominal value of the shares subscribed for by each member
  5. The duration of the company (if it’s established for a defined period of time).

Additional provisions in the agreement may apply to such matters as the method of representation. Our team will design all obligatory documents according to your preferences.

 

F) Registration in the Register of Entrepreneurs of the National Court Register

Establishment of the company must be reported to the registry court within six months from the date of the company’s agreement, otherwise, is dissolved. The procedure is very formalized. An application consisting of forms must be completed in Polish. Our team provides legal services in 13 Languages.

Depending on the type of company, additional documents should be attached to the application. For example, for the LLC registration, documents confirming the appointment of board members will be needed.

Duties After Company Setup in Poland

(Post Incorporation Works)

 

Incorporation in Poland is just a first step. However, it is quite important to complete all obligatory steps must be taken after incorporation. It is a reason why it is so important to work with lawyers and accounters. We have accounters in our team besides lawyers to help you during all steps.

The company should provide the tax office with the supplementary data within 21 days of the day the company was registered (NIP-8 form, signed by members of the Management Board).

In some cases, it can be required to register the company as a VAT taxpayer. VAT taxpayers, at least 7 days before the first VAT transaction, should apply for registration as a VAT taxpayer before they start to deliver goods or provide services.

If the company intends to hire employees it’s also obligatory to notify  ZUS (The Social Insurance Institution).

 

Opening Bank Account  in Poland

Every business entity must have an account at one of the Polish Banks. As for capital companies, opening a bank account should be your next step after signing The Articles of Association. In the case of companies – partnerships, opening a bank account is possible after the company’s entry in the Register of Entrepreneurs of the National Court Register.

The required documents are a passport or ID card (in the case of citizens of the European Union, an ID card should suffice).

Usually, it’s possible to complete all formalities in English and banks have an English version of an online banking platform. However, sometimes it is very complicated to open a bank account in Poland for your company. Our team will assist you during the all procedure opening bank account in Poland.

If you are thinking of starting a business and setting up a company in Poland please feel free to contact us.

 

Gurcan Partners is ready to help you during the all process of the Company Formation in the Poland. Please contact us.

[email protected]

or Call Us

+48  22 153 03 60 (English)

 

Check out Gurcan Journal for more articles in 13 languages. Schedule your online meeting below.
To read our other articles:
  1. Company Formation in Germany
  2. Company Formation in Europe
  3. Company Formation in the Czech Republic
  4. Company Formation in Hungary
  5. Company Formation in Serbia
  6. Company Formation in Estonia
  7. Company Formation in Kuwait

 

Gurcan Partners
Company Formation in Poland

Att. Marta T. Czermińska

Gurcan Partners Warsaw Office

@: [email protected]

 

All rights reserved. All rights of Company Formation in Poland article belong to Gurcan Partners. The author has no responsibilities from the information in this article. This article is prepared just to inform.

Contact Us

Please contact us via email. We endeavor to respond within 24 hours.

@: [email protected]

M: +48  22 153 03 60 (English)

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