Poland company registration

DOING BUSINESS IN POLAND IN 2018

Since 2004, Healy Consultants Group PLC has supported our Clients with timely business registration from A to Z of their business in Poland.

We can provide the following services to both individual entrepreneurs and multinational conglomerates, including: i) Poland business registration, ii) license advisory services iii) nominee services for Poland resident representatives, iv) corporate bank account opening services v) Schengen visa strategies and vi) office rental solutions.

Summary table of Poland company registration

SummaryLLCCryptocurrency entityFree zone LLCLLPRepresentative office
Also known asSpółka z ograniczoną odpowiedzialnościąFirma kryptowalutaFirma w wolnej strefieSpółka z ograniczoną odpowiedzialnościąPrzedstawicielstwo
Best use of company?All products and servicesFinTech servicesManufacturing and export tradingProfessional servicesMarketing and research
How soon can you invoice Clients/sign sales contracts?4 weeks4 weeks5 weeks5 weeksN/A
How soon can you hire staff?4 weeks4 weeks5 weeks5 weeks6 weeks
How soon can you sign a lease agreement?1 week1 week1 week1 week1 week
How long to supply corporate bank account numbers?6 weeks8 weeks6 weeks6 weeks6 weeks
How long to supply company registration/tax numbers?4 weeks4 weeks4 weeks5 weeks5 weeks
Corporate tax rate on annual net profits?19%19%Up to 0%0%No income
Limited liability entity?YesYesYesYesYes
Government grants/incentives available?YesYesYesYesNo
Government approval required for foreign owners?NoNoNoNoNo
Resident director/partner/manager/legal representative required?NoNoNoNoYes
Minimum paid up share capital?€1,200€1,200€1,200NoneNone
Can bid for Government contracts?YesYesYesYesNo
Corporate bank account location?PKO BPBank PekaoING Bank ŚląskiBZ WBKBGZ BNP Paribus
Can secure trade finance?YesYesYesYesYes
VAT payable on sales to local customers?23%23%23%23%No sales
Average total business set up engagement costs?€11,960Request a proposal€14,910Request a proposal€15,780
Average total engagement period?2.5 months3 months2.5 months3 months3 months

Poland company registration summary

Press the link headings below to read detailed, relevant, up to date information.

  • Advantages and disadvantages

    Advantages of Poland company registration

    Poland business registration advantages and disadvantages

    1. Poland is a heavy industries paradise in Central Europe, because:
    2. Poland is a secure investment destination in Europe, because:
      • Poland has a reputation for political stability and a relatively efficient, transparent government, compared to other nearby Eastern European countries;
      • While Poland is not part of the Eurozone, starting a business in Poland will not expose our Client to currency risk and exchange controls;
      • For “Trustworthiness and confidence” rankings by the WEF, Poland is ranked ahead of many reputable economies, such as i) Japan ii) Belgium and iii) Austria;
      • Poland is part of many economic and military unions, such as i) Visegrad four ii) European Union and iii) NATO. Consequently, the country’s borders are well-protected.
    3. Registering a new company in Poland imposes few requirements, including:
      • A foreign investor can be appointed as both shareholder and director, without the need for local resident representation;
      • The mandatory minimum paid-up share capital is just €2,000 (PLN5,000);
      • Poland is positively ranked in the top 25 countries in the World for Doing business, according to the World Bank for 2017;
      • Personal travel is not required to complete company setup and corporate bank account opening;
      • A simple Poland legal registered business address is sufficient to begin operations.
    4. A globally competitive economy with world-class health services and education levels as well as a stable macroeconomic environment:
      • Poland has been ranked 39th out of 137 countries in the Global Competitiveness Index 2017-2018 by the World Economic Forum;
      • This is largely due to high quality health services and primary education levels in the country. This would enable foreign investors to hire a high-quality workforce for their ventures;
      • Poland also has a stable macroeconomic environment along with an efficient goods market, making it an attractive nation for incorporating any business in this country.

    Disadvantages of Poland company registration

    1. Registering a business entity in Poland can be a lengthy process, compared to other European countries. As a result, the World bank ranks Poland as 120th easiest place to start business in the World in 2018;
    2. Poland is negatively ranked as the 60th country by the Corruption Perception Index for 2017;
    3. All company setup documents must be translated in Polish. This creates additional delays for the formation of a subsidiary in Poland and additional third party costs for the engagement.
    4. Poland’s 2019 tax reform has significant changes to it, bringing tighter and stricter regulations, especially on the withholding tax regime. Moreover, Poland has high personal tax rates. These might prove to be a disincentive for foreign investors.
  • Best uses for Poland company

    1. Poland is a great place to form a manufacturing company, thanks to abundance of well-developed business sectors and cheap labour costs;
    2. While Western Europe is still shaking due to BREXIT and Eastern Europe is struggling with ongoing migrant crisis, Poland remains a politically stable destination for foreign investment in Central Europe.

Company registration

  • Time to incorporate: Four weeks
  • Cost to set up: €11,960
  • Minimum capital: €1,200
  • Physical office required: No

Required appointments

  • Shareholders: 1
  • Directors: 1
  • Company secretary: No
  • Resident director: No

Key facts

  • Corporate tax rate: 19%
  • Corporate tax base: Worldwide
  • Shelf companies: No
  • Main company type: Sp. Z.O.O.

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Contact us

For additional information on our company registration services in Poland, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Mr. Petar Chakarov, directly: