Poland corporate banking options in 2023
Healy Consultants Group PLC will assist our Clients to secure a corporate bank account in Poland. Our expert corporate banking division will prepare all required due diligence documentation and submit them to our Client’s preferred bank in Poland. When possible, Healy Consultants Group PLC will attend bank interviews on our Client’s behalf and assist them to avail the full range of corporate banking services available. Kindly read below for further details on the local banking system and our corporate banking services in Poland.
Poland corporate banking options
- Poland’s banking sector is one of the rather unknown great-performers in the EU. Its soundness is attested by its significant return on equity (ROE) recorded on average at 8% in 2018, according to the European Banking Federation
- While Poland boasts a mature banking sector, most of the banking institutions in the country are foreign-owned. International banks present in Poland include i) Deutsche Bank; ii) ING Bank Śląski SA and iii) Societe Generale SA. Generally, most banking groups originate from either Germany or France;
- Healy Consultants Group PLC always recommends our foreign Clients to open their Poland corporate bank account with a bank where they already have a bank account in another country, thus reducing i) the total time required to open the bank account and ii) the bank’s due diligence requirements for our Client’s background check;
- A great alternative to a corporate bank account in Poland with international banks is an account with a local Polish institution, as most local banks i) offer superb online banking in English and ii) review Client’s bank account applications in a timely manner. Consequently, many of our Clients may choose to open a bank account with a local bank. Healy Consultants Group PLC recommends i) Millenium Bank and ii) PKO Bank as our preferred local institutions with complete financial portfolio of services.
Healy Consultants Group PLC’s Poland corporate banking services
- Healy Consultants Group PLC supports our Clients in opening a business bank account for their company in Poland by proceeding in the following manner:
- Healy Consultants Group PLC will be pleased to open a Polish corporate bank account without our Client travelling to the country. It is a time-consuming task; Healy Consultants Group PLC will shelter our Client from administrative challenges. As you can appreciate, it is a difficult task to obtain bank account approval for a newly formed company, particularly when shareholders, directors and bank signatories reside overseas;
- Following bank account approval, the preferred Polish bank will directly and independently email our Client the corporate bank account number, required to set up their business;
- While our firm will liaise with the banks to prevent our Clients from travelling to Poland, there is still a 10% chance that the bank may require our Clients to travel for a one-hour interview in Poland. There will be a fee discount of €950 if our Client is required to travel;
- If our Client is not comfortable with a Polish corporate bank account, Healy Consultants Group PLC can open an international corporate bank account outside of Poland. Examples include Latvia, London, New York, Germany, Bulgaria, South Africa, Australia, or Dubai. Our fee for this service is €4,950 without travel or €4,000 with travel. All banks will be top tier banks in these countries, including provision of excellent internet banking services.
- If requested, Healy Consultants Group PLC will also be pleased to assist our Clients with obtaining financial support from the bank for their projects in Poland by taking the following necessary steps:
- Healy Consultants Group PLC may assist our Clients with obtaining corporate finance in the form of a loan, overdraft or simply preferential credit terms. Please contact our Poland professional consultants for inquiries regarding these services and related fees;
- Poland banks will consider providing funds to finance investment projects, provided sufficient information is submitted to the bank authorities. Documents requested may include
- bank specific business-plan;
- availability of collateral assets;
- qualifications of business owners and management;
- audited financial statements of last 3 years; and
- a detailed review of the project’s strength, weaknesses, opportunities and threats (SWOT matrix);
- In addition to corporate finance, our in-house consultants may also provide our Clients assistance to secure trade finance services including i) bank guarantees; ii) letters of credit; iii) finance against trust receipt (for imported goods) and iv) document against payment and against acceptance.
Opening a corporate bank account in Poland
- To open a corporate bank account on our Client’s behalf, Healy Consultants Group PLC will proceed as below:
- Before setting up a business in Poland, Healy Consultants Group PLC will help our Client to decide upon the most suitable corporate banking option for their company amongst the different available banking options;
- Healy Consultants Group PLC reserves the company name with the Poland Business Register and prepares company deeds of establishment and articles of association for company formation. The exact corporate structure is agreed with our Client. Check the availability of your preferred company name here!;
- Healy Consultants Group PLC submits a complete corporate bank account opening application to the preferred bank including i) all bank questionnaire forms and ii) all due diligence documents;
- Once the corporate bank account is approved, Healy Consultants Group PLC emails our Client the bank account details;
- Our Client then proceeds to transfer the share capital onto their Poland corporate bank account. The bank issues a certificate of deposit necessary to complete the incorporation process.
Exchange controls and other regulation
- The Polish Zloty (PLN) is fully convertible and there are no foreign exchange controls affecting trade or other transactions;
- Both residents and non-residents in Poland can open bank accounts in foreign currencies, including Euro (€), US Dollar ($) and Pound (£). There are no restrictions on the amount of foreign currency that residents may hold in their bank accounts.