Explore our comprehensive guide on opening a company in Poland as a foreigner. Learn the steps, requirements, and key insights for a successful business.
If we talk about how foreigner can open company in Poland, special actions must be taken in accordance with the current Polish legislation, for sure. The flexibility of the corporate law system as well as a well-developed legal framework allows foreigners to set up business in Poland remotely!
Step-by-step instructions on how can a foreigner open a company in Poland
First step should be the right choice of the company type and company naming. From the Fintech Harbor side, for starting a business in Poland as a foreigner, we highly recommend consider the LLC form (spółka z ograniczona odpowiedzialnością or z.o.o.). Approximately, more than 90% percent of founders stop their choice on this type of company formation.
Next, the Director of the future newly created company must comply with the current Polish legislature. It is necessary to obtain a special non-criminal record and other official statements from the Polish Governmental Authorities. It’s just a formal requirement, but such formality can create an obstacle for your incorporation process. So, we take care of everything if it comes to any paperwork.
After, each founder should obtain a special type of electronic digital signature (podpis kwalifikowany) that allows them to register a company in Poland remotely despite their place of residence. We also can assist our clients in this case and provide them with all the necessary instructions and advice.
Later, our representatives register a company for foreigners in Poland and prepare all necessary documents. The mentioned set will include Article of Associations (AoA), registration of the new company into Polish Companies House (KRS) and entering into the special tax registers (depending on the newly created company activity and the client’s request).
Finally, foreigner will obtain a company that is registered in the reputable European Union jurisdiction. Please note that the full process of company formation can take up to 14 days.
What about taxation and administrative Fees?
If we talk about taxes for a Polish LLC company, each legal entity must be taxed by Corporate Income Tax (CIT). CIT is calculated on the income. This type of tax will be based on 9% of CIT for profit up to 2 mln EUR and 19% of CIT for profit above 2 mln EUR.
Share capital contribution
Minimum share capital of Polish LLC is 5.000 PLN (approx. 1.250 EUR). The mentioned contribution can be paid by monetary contribution of contributions in-kind. In case of the Polish legal entity the founder can specify the share capital. But there are no requirements for payment mentioned contribution before the company registration process.
VAT rates in Poland
The Polish law system set up the rate of VAT tax depending on the business activities of the legal entity. So, there are next VAT rates: 23%, 8%, 5%, 0%.
- 23% – the standard rate for a lot of types of services.
- 8% is applied If it comes to pharmaceuticals, certain transport services.
- 5% reduced rate can be applied in case of unprocessed food or books and journals.
- 0% is an exemption provided by the Polish VAT Act. The mentioned rate can be used in case of export of goods to the countries located outside the EU zone.
So, as we can see, business in Poland for foreigners is actually easier If the professional lawyers hold the whole process and assist them on all stages.
The flexible corporate structure, high level of safety, as well as fast incorporation process, make Poland an attractive jurisdiction for starting a business for foreigners.
If You are thinking about how to open a company branch in Poland or how to set up a company in Poland, don’t hesitate to contact us in case of any questions regarding the full stage support of the company incorporation process in such a trustful jurisdiction of the EU zone.
