Company registration in Poland: peculiarities, advantages and disadvantages, who is suitable for whom

If the business is focused on sales to Europe, Poland is a convenient jurisdiction. In this country, the standards for entrepreneurs correspond to those adopted in Europe. They are binding, but leave enough freedom for the realization of business ideas. It is not required to collect a large package of documents, the costs are moderate. Let's consider the features of company registration in Poland, advantages and disadvantages.

Features of the Polish jurisdiction for business

The benefits of doing business in Poland:

• This country is part of the European Union, which gives great opportunities for trade and with other European countries.
• Registration of legal entities is possible remotely.
• Workers from Poland have high qualifications.
• Not very high costs for business registration and its support.

Restrictions exist only for some spheres of activity: aviation, broadcasting. For everything else there are no restrictions. It will be necessary to adhere to European standards related to combating money laundering obtained by illegal methods and financing of terrorism.

In Poland it is possible to open these types of organizations for doing business:

• Limited Liability Company - this is the most popular type of legal entity. The authorized capital must consist of at least 1000 euros. The company can be organized even by one founder.
• A joint-stock company is a type of organization suitable for those wishing to raise external funding and offer shares to outside parties. Although it is a legal entity with strict formalization, it offers significant advantages. The authorized capital is 21,000 euros.
• Branch office is a type of business registration for non-resident legal entities in Poland. Here it is allowed to conduct only those activities that are also carried out in another country. Otherwise, it will be necessary to register.

Advantages and disadvantages of the Polish jurisdiction

Advantages of registration of the company in Poland:

• It is an official, white jurisdiction in which it is safe to do business.
• Compared to other European countries, it is inexpensive to keep a company in Poland.
• If the organization is small, the corporate tax rate is low.

Disadvantages of Polish jurisdiction:

• In some matters and for certain activities in Poland, a lot of documents will need to be prepared.
• You need to file a report every month.

What you need to register a company in Poland

Usually follow these steps:

• Determine the priorities of the business, make a business plan.
• Develop the name of the organization and check whether it is free. The name should be reserved so that it is not taken by someone else.
• Find and formalize a legal address for the company.
• The personal data of the individuals and legal entities that will be founding the Polish company must be collected and formalized. The data of beneficiaries and managers will also be required.
• Develop and coordinate the founding documents of the organization, fill out the registration forms.
• Form the authorized capital.
• Submit a package of documents for registration. If the decision is positive, the information is entered into the register.
• Register the purpose of tax payment.
• Look for a bank in which to open an account for the organization.
• If regulated activities are to be carried out, it is necessary to obtain permits and licenses.

Take into account that there are several types of taxation in Poland. For example, the standard rate is 23%. For some goods, medical products and agricultural services - 8%. For international transportation services - 0%.