Company Registration

Company Registration Poland

Registration of companies in Poland remains very popular amongst foreign investor for last two decades. There are number of advantages why entrepreneurs choose Poland for their investment localization:

• Speedy company registration process that takes 1 – 3 days
• Absence of restrictions for foreigners
• Access EU market and freedoms
• Low taxes
• Fourty mln Consumer Market
• Reboosting Economy
• Relatively Low Cost Employment
• Well-educated Workforce
• Independent and Stable Currency
• Biggest Beneficiary of EU Budget
• Location at the very Heart of Europe

Company in Poland – in bullet points

What is the minimum capital?	5.000 PLN for limited liability company100.000 PLN for joint stock company
Who can be a shareholder?	Any foreigner or foreign company, without nationality restrictions.
Liability of shareholders?	LLC is separate legal entity and shareholders hold no liability for debts of the company
Fast track registration?	Possible via internet – within 1 – 3 days
Time to register company in Poland	usually 1 to 3 days
Who can be a Management Board Member?	Management Board Members do not need to be Polish citizens or residents
Tax number (in Polish NIP)	Provided within company incorporation process
Statistics number (in Polish REGON)	Provided within company incorporation process
Company registration number (KRS)	Provided within company incorporation process
Taxes that your company will pay in Poland?	Corporate Income Tax9% for revenues below 2.000.000 EUR19% for revenues exceeding 2.000.000 EURVATfrom 0% to 23 % depending on the type of goods or servics

Company Registration in Poland in four steps

Company in Poland can be registered in 4 steps:

1. Fill in the online company registration form. If you have any questions e-mail our registration experts.
2. We will send you the
   • offer along with online payment link,
   • list of required documents
3. Once the offer is approved – we will register your company within 1-5 business days,
4. Once you deliver to us complete set od documents, we will transfer the shares to the designated owner.

Incorporation Stages

1. Executing Articles of Association
2. Appoint Corporate Bodies
3. Depositing Capital
4. Court registration
5. Bank Account opening
6. Regulatory Compliance Process

Company Registration – Required Documents

Private Individual Shareholder:

• Passport or Identity Card
• Notarial Authorization (power of attorney) along with the Apostille Clause (or legalization in Polish Consulate)

Legal Person:

• Extract from corporate register along with the Apostille Clause (or legalization in Polish Consulate)
• Notarial Authorization (power of attorney) along with the Apostille Clause (or legalization in Polish Consulate)

Company Registration – Fees & Expenses

Company registration fee (online option)	250 + 100 = 350 PLN
Sworn Translations	from 5 – 20 EUR per page
Other fees	Authorization fee of 17 PLN for each power of attorney
Notary fees in case of manual company registration	Starting from approx. 150 EUR
Registrar fee	Depending on the chosen provider
Transaction Tax	Company registration involves payment of 0,5% tax on the share capital amount

Foreigner and LLC Registration

There are no major limitations for foreigners regarding LLC company incorporation in Poland.

As a rules the foreigners are allowed to:

• register LLC in Poland
• buy and sell shares in LLC
• hold function of LLC Directors
• hold function in Supervisory Board

Some restrictions are introduced with regards to:

• purchase of real property, or company that owns real property located in Republic of Poland,
• other types of companies (not being LLC or JSC)

Why opening company in Poland?

Poland is a perfect place for investment and business expansion. Polish economy will expand by:

• 0.3 percent in 2023,
• 2,4% in 2024 and
• 3,7% in 2025.

The 2022 Ernst & Young European Attractiveness Survey shows that Poland leaped to 9th place in top 20 European destination countries by FDI projects.

According to Economic Survey for 2021 made by OECD, economic growth in Poland remains strong and the unemployment rate is at a record low level.

Investors consider our country as one of the most attractive investment destinations in Europe.

Tourists, in turn, are enchanted by Polish hospitality and friendliness, Poland’s cultural heritage and the country’s natural wealth. Poland’s 40-million strong consumer market is one of the biggest in Europe.

The country’s favourable location, in the centre of Europe, where the main communication routes intersect, make it possible to export goods to all European countries and thus reach over 500 million consumers.

Poland’s major trade partners are, among others, Germany, France, Hungary, Ukraine, Spain and China.

Well-educated Polish economists, engineers, IT specialists and scientists are highly sought and appreciated employees who find employment in IT companies, R&D centeres and scientific institutes.

Every year a greater number of graduates leave Polish universities, among them graduates from faculties which are most popular among companies investing in advanced technologies. In the academic  year  2020/2021  Polish  higher  education institutions generated 293,000 graduates. The number of people starting doctoral studies is on rise.

The Polish economy undergoes a significant growth which has solid institutional foundations and draws heavily on the country’s democratic mechanisms thanks to which the country’s economic system is considered to be the best and most transparent economies among all the post-socialist states.

All the factors together with the country’s international safety guaranteed by Poland’s membership in NATO and the EU make Poland a credible and important business partner for foreign investors. Among the most important challenges to be faced by the country in the foreseeable future there are issues connected with the adoption of the single European currency and all criteria which the country has to meet in order to enter the eurozone.

Legal forms of Company

Polish Code of Commercial Companies offers 7 options of legal forms of companies:

• Limited Liability Company
• Joint-Stock Company
• Simple Joint-Stock Company
• Limited Liability Partnership
• Joint-Stock Partnership
• Professional Partnership
• Regular Partnership

LLC is definitely the most popular, as almost all foreign investments projects are executed in this legal form.

Q&A – Company Registration in Poland

Time to incorporate LLC in Poland?

Fast track incorporation takes couple of days (1-7 days)

Corporate Income tax rates in Poland?

0% – for profit retention (Estonian CIT); 9% – taxpayers with revenues < 2 mln EUR ; 19% – other taxpayers

VAT rates in Poland?

• 23% – standard rate
• 0%, 5%, 8% – preferential rates

What nationality can be the shareholders or directors?

There are no restrictions as to shareholders or directors nationality.

Does Polish company require a resident director?

It is not required that a Director is a resident of Poland

What are the registration numbers for newly incorporated company in Poland?

Compulsory: KRS, NIP, REGON; Optional: VAT, EU-VAT, EORI, BDO

Is name reservation required prior to company registration ?

Not required. Available names may be verified with our legal counsels

Transfer pricing thresholds for companies in Poland?

Local File is mandatory for transactions exceeding:

• PLN 100,000 with tax havens
• PLN 2 million services and other;
• PLN 10 million – financial and commodities.

What are usual tax incentives for companies in Poland?

SEZ – Special Economic Zones; R&D Relief; 5% – IP Box ; 0 % – Estonian CIT for profit retention

Is annual auditing compulsory for new company in Poland?

Not obligatory unless (if 2 conditions of 3 are met):

• over 50 employees,
• assets from the balance > 2,5 mln EUR net
• revenues > 5 mln EUR

Bank account opening for new registered company?

Bank accounts may be opened only after the company is registered. Process of bank account opening takes from 2-6 weeks and usually requires visit of the Director (of the new company) in Poland.