Why choose Poland for doing business?
Recently Poland is considered as one of the few economically and politically stable countries in Europe. Poland is a country with a market economy and is one of those states that have a favorable economic climate and a high degree of economic freedom to open and run a company.
Poland has an advantageous geographical position in terms of economic importance in Europe. It is the crossroads of Western and Eastern and North and South of Europe, which provides excellent conditions for export and import. Close to all of Europe with its duty-free zone, which allows you to trade and transport goods. There is an outlet to the sea and a port, that makes it possible to receive goods directly from China.
Poland is one of the most promising countries for investment. The Polish economy is characterized as safe for doing business and long-term planning.
Poland is a country with a large population, has been a member of the EU for quite a long now, and is a link between the post-Soviet countries and the West.
Being a country with a European standard of living, Poland is also close in spirit and mentality to the inhabitants of the post-Soviet states such as Belarus, Ukraine, Russia, Lithuania, Latvia and Estonia.
All of the above factors, as well as a developed infrastructure, low interest loans and much more, contribute to set up a company in Poland.
Business climate for companies in Poland
In terms of comfort and ease of doing business, Poland is ranked 39th out of 189 in the World Bank’s “Doing Business” ranking of doing economies.
What are the factors that contribute to open a company in Poland? Let’s consider them in more detail.
- Focus on small and medium-sized businesses. A large part, namely 70% of the Polish economy, is occupied by small and medium-sized businesses.
- Moderate taxation. In Poland, compared to other EU countries, taxes for SME’s is 9%.
- Access to European banks with low interest rates. Loans, leasing factoring, deposits – all this is available and at low rates.
- Developed system of business support by the state. Concessional loans and grants, as well as additional financing are available to many companies.
- Simple business start-up. In Poland, there is a simplified process for registering a company. One can set up a company within 5 business days. Small authorized capital, which starts from PLN 5000 it EUR 1200. These are very attractive conditions to establish a company in Poland.
- Doing business in Poland by foreigners. Foreigners can open a company in Poland under the same conditions as its citizens. In many institutions you will be able to communicate in English, young and middle generation, communicates in English as well.
- A simple procedure for obtaining a residence permit and a residence card on the basis of a business. You can open a company in Poland and, on the basis of this, obtain a temporary residence permit for the whole family, with the subsequent registration of permanent residence and residence permit.
How to start a business in Poland
If you decide to set up a company in Poland, first thing you will need is to decide what kind of activity you could be engaged in. It is important to have a clear idea of how your company will look like, choose the location of the future company, study potential customers and markets for products or services.
The next step is to study Polish law. If you decide to establish a company in Poland on your own, it is important to be able to navigate and not “drown” in the laws of a foreign country. The best option is to find a specialist or a company who will help you and advise you at all stages of opening and developing your business. It will help you with choosing the form of business, preparing the necessary papers, obtaining licenses, if any are necessary.
Summarizing all of the above, we will describe an approximate step-by-step checklist of actions that must be performed before you decide to open a company in Poland:
- Search for business ideas
- Business line analysis, check competition
- Development of a strategy for entering the Polish market
- Test entry to the Polish market
- Legal registration of the future enterprise
- Marketing and sales to the Polish market
- Management and further development of the company, scaling.
How to open a company in Poland
So, in order to establish a company in Poland, you need to register a legal entity. The entire registration process takes on average 5 to 30 days, depends you use online method or notary.
The board of a company can consist of one or more people.
After the company is registered, an entry is made in the court register of the Polish Commercial Court (KRS). At the time of registration, the company is assigned the status of a legal entity.
All companies doing business in Poland must have an individual tax number. It is issued once upon registration.
In order to set up a company in Poland, you must choose one of the registration methods:
- Register a legal entity online
- Register a legal entity by power of attorney (notary)
The next step will be the preparation of the necessary documents and information about the newly created company – this is a valid passport of the founder; choice of the form of ownership;
The name of the company; activities; the place where the company will be located (city and province); appointment of the company’s board; contribution of the authorized capital.
After that, the registration process in KRS begins:
- A memorandum of association is signed
- An application for registration is completed in a special form for KRS
- Preparing a lease agreement for a seat of your company in Poland
- The documents are submitted to the Registration Court.
For more information on the stages of registration and paperwork in order to establish a company in Poland, you can find out by following the links below:
Business support in Poland
It is not enough to open a business, any business requires further support. These are accounting, legal and personnel services necessary for the operation of any company. As a rule, this requires a lot of time, effort, and additional resources of which, often, beginner entrepreneurs do not have enough.
In addition, in order to set up a company in Poland, you also need to know the country’s legislation and a number of regulations and legal acts. Know the deadlines for the delivery of accounting and financial statements, correctly and correctly conduct accounting and tax accounting.
Personnel accounting is equally important when doing business. If you decide to establish a company in Poland and hire employees, you will need to be familiar with and familiar with the Polish Labor Code. To be able to correctly draw up and fire employees, to conduct office work.
Legal support will also be required throughout the entire financial and economic activities of the company, from the stage of registration to subsequent closure. This includes contractual work and legal advice on emergency situations, as well as representation in courts and various state bodies that control entrepreneurial activity in Poland.
In this regard, many entrepreneurs turn to specialized companies that provide such services for complex business support services. We provide all those services.
If you decide to establish a company in Poland and need a reliable assistant and partner, and you have questions, you can always write to us at email@example.com and we will share all the necessary information with you.