Poland corporate banking options
Healy Consultants will be happy 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 will attend bank interviews on our Client’s behalf and assist in applying to the full range of corporate banking services available. Kindly read below for further details on the Polish banking system and our corporate banking services.
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 9.9% in 2016, according to the European Banking Federation
- While Poland boasts 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 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’ requirements for our Client’s due diligence 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) do not require high due diligence requirements. Consequently, many of our Clients may choose to open a bank account with a local bank. Healy Consultants recommends i) Millenium Bank and ii) PKO Bank as preferred local institutions with complete financial portfolio of services.
Healy Consultants Poland corporate banking services
- Healy Consultants assists our Clients with opening a corporate bank account in Poland. Please read below for further information:
- Healy Consultants will be pleased to open a Polish corporate bank account without personal travel. It is a time-consuming task; Healy Consultants will shelter our Client from administrative challenges. As you can appreciate, it is a difficult task to obtain bank account approval through 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 his business;
- While our firm will liaise with the banks to prevent our Clients from travelling to Polish, 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 you must travel;
- If our Client is not comfortable with a Polish corporate bank account, Healy Consultants 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 €2,550 with travel. All banks will be top tier banks in these countries, including excellent internet banking services.
- If requested, Healy Consultants will also be pleased to assist our Clients with obtaining bank financial support for their projects in Poland. Please read below for further information:
- Healy Consultants may assist our Clients with obtaining corporate finance in the form of a loan, overdraft or simply preferential credit terms. Please contact our Poland CRO for inquiries regarding these services and related fees;
- Poland banks will consider providing funds to finance investment projects, provided sufficient information is submitted. Documents requested may include i) bank specific business-plan’ ii) availability of collateral assets iii) qualifications of business owners and management iv) last 3 years audited financial statements and v) 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 will proceed as below:
- Before setting up a business in Poland, Healy Consultants will help our Client to decide between corporate bank account amongst the different banking options available;
- Healy Consultants reserves the company name with the Poland Business Register and prepares company deeds of establishment and articles of association for Poland company formation. The exact corporate structure is agreed with our Client. Check the availability of your preferred company name here!;
- Healy Consultants 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 emails our Client the bank account details;
- Our Client then proceeds to transfer the share capital onto its Poland corporate bank account. The bank issues a certificate of deposit necessary to pursue the incorporation process.
Exchange controls and other regulation
- Poland boasts liberal foreign exchange controls with minor requirements. The country harmonized its regulations to allow Special capital flows between Poland, EU and other OECD member countries. More, the Polish Ministry of Finance monitors all transactions and may request additional information from the banking institutions;
- 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.