How to start a business in Poland
Did you know that Poland saw its economy grow by 4.9% in 2021, the European Union’s fastest? This figure underlines exciting chances for business people in a growing market.
Its spot in Central Europe and a stable economy lure investors. Starting a company there might seem tricky at first. But with the right help, you’ll find many open doors.
We will guide you through setting up in Poland. This advice aims to boost your confidence and help you dive into this vibrant market.
Benefits of Establishing a Business in Poland
Key Takeaways
- Poland’s central European position is key for efficient business movements, both eastward and westward.
- The country’s steady economy has not faced recessions recently, a good sign for investors.
- Poland promotes investment through various incentives, including grants and regional help from the government.
- In the tech world, Poland’s growth offers great chances for IT and online sellers.
- It boasts the largest single market within the EU’s new members, highlighting its entrepreneur-friendly environment.
Benefits of Establishing a Business in Poland
Poland is right in the middle of Europe, making it a hotspot for companies wanting to cover both East and West easily. It’s part of the European Union (EU), so investors enjoy a strong economy. This is especially good for online businesses thanks to the great transportation system.
Poland has shown significant economic growth in Europe and has not faced recessions lately. This is good news for people looking to invest. The International Monetary Fund (IMF) also expects Poland to have more purchasing power in the future. This makes the country even more enticing.
Incentives and Trade Opportunities
Poland and the United Kingdom have a special trading bond, offering UK companies a good chance to do business in Poland. Poland welcomes foreign businesses with open arms, offering various grants and help programs. These are aimed at supporting new businesses and entrepreneurs.
| Key Benefits | Details |
|---|---|
| Strategic Location | Situated at the heart of Europe, Poland allows companies from the East and West to conduct business efficiently. As an EU member, investors can benefit from the country’s strong economic condition. |
| Stable Economy | Poland’s GDP has seen significant growth in Europe, and the country has successfully avoided recessions, providing a stable environment for investors. The IMF forecasts a hike in purchasing power parity in the upcoming years. |
| Incentives and Trade Opportunities | Poland’s incentive system encourages foreign investment, with a range of governmental grants and regional aid programs available to support entrepreneurs and startups. The country also shares a strong trading relationship with the UK. |
Requirements for Starting a Business in Poland
Starting a business in Poland involves several important steps. These include getting the right visas and permits. Also, you need to set up the legal and financial parts of your business.
Visa and Work Permit
If you’re from the European Union, you don’t need a specific work visa for Poland. This is because Poland is an EU country. But, those from outside the EU must get a work permit and visa. The visa type varies by the business’s nature and the person’s situation.
Company Address
Every business in Poland must have a valid office address. Before you can use a company name, it has to be checked and approved by the National Court Register.
Business Capital
To start a business in Poland, you need at least 5,000 Polish Zloty (PLN) as capital. This amount is to make sure your business has a good start.
Taxation
In Poland, the corporate tax rate is 19% for most companies in 2022. Yet, for those with $2 million or less in revenue, the tax rate drops to 9%.
Director and Company Secretary
For offshore companies in Poland, you need a director and a shareholder. The director can also be the company secretary. They handle the business’s legal and administrative tasks.
Types of Business Structures in Poland
Poland has a range of business structures for both local and foreign entrepreneurs. Each structure comes with its own rules and benefits. It’s important to know these when thinking about starting a business in Poland.
Polish Limited Liability Company
The Polish limited liability company, known locally as Spółka z ograniczoną odpowiedzialnością (Sp. z o.o.), is quite popular. To set up, it needs to be listed in the National Court Register. At least one shareholder is needed, along with a minimum of 5,000 PLN in starting funds. Shares valued at a minimum of 50 PLN are involved. These companies pay VAT and corporate taxes. A board, managed by one or more people, makes company decisions.
Polish Joint-Stock Company
Larger businesses might prefer the Polish joint-stock company, or Spółka akcyjna (S.A.). It requires a minimum of 100,000 PLN in capital. Companies can be owned by single or multiple entities. They pay VAT and corporate taxes too. A management board and a supervisory board are supported. Registration in the National Court Register is a must.
Polish Limited Partnership
The Polish limited partnership, known as Spółka komandytowa (Sp.k.), is for various business types. There’s no minimum capital needed. At least two founders form the partnership. This structure has limited partners and general partners. The partnership has to be listed in the National Court Register.
Polish Civil Partnership
The Polish civil partnership, or Spółka cywilna (SC), is great for small businesses with two or more partners. It doesn’t have a separate legal status. Also, it doesn’t need to be listed in the National Court Register. Partners individually handle their tax obligations.
Polish Registered Partnership
The Polish registered partnership, or Spółka jawna (Sp.j.), is another form for small businesses. It should be listed in the National Court Register. However, it doesn’t need a legal entity. It has no capital share requirement. Partners pay taxes for the business’s profits.
Polish Limited Joint-Stock Partnership
The Polish limited joint-stock partnership, or Spółka komandytowo-akcyjna (S.K.A.), focuses on both active and passive partners. It has no legal entity but can act in court. Among its requirements is a capital of 50,000 PLN. This partnership also needs to pay VAT.
How to Start a Business in Poland
Starting a business in Poland means ticking off several important steps. We’ll look at each one in detail:
Step 1: Signing Article of Association
The first thing to do is to finish and sign the Article of Association. This document sets up your company’s system and principles. After completing it, get it approved by a public notary.
Step 2: Depositing Minimum Share Capital
With the Article of Association ready, it’s time to put in the minimum share capital. For example, a limited liability company needs 5,000 PLN, while a joint-stock company needs 100,000 PLN. Doing this ensures your business in Poland starts with the right funds.
Step 3: Appointing the Management Board
Next, you should choose the company’s management board. This can happen with a vote among shareholders or by the decision of a general meeting. The management board looks after daily tasks and long-term business plans.
Step 4: Applying for Registration
After settling the board, funding, and the Article of Association, apply for company registration. You do this with the National Court Register by filling in forms and handing over documents. When registered, you get a unique number for legal use.
Step 5: Obtaining Other Permits
For some businesses, there are more permits to get, depending on the field or activities. This step is crucial to ensure you follow Polish business laws and can run your business without issues.
By following these steps, you’ll navigate Poland’s business opening with ease. The country’s good location, strong economy, and support for businesses are real assets.
Costs of Incorporating a Company in Poland
The cost for starting a company in Poland varies. It depends on the type of company you want to form. Typically, starting a company in Poland requires about 4,850 Euros (or 22,830.33 Polos Zloty). This fee includes the initial set-up costs. Companies also need to provide a minimum share capital, depending on the type of company they choose.
The cost to start a limited liability company in Poland is 5,000 PLN. For a joint-stock company, this cost is higher, at 100,000 PLN. If you’re starting a Polish limited partnership, Polish civil partnership, or Polish registered partnership, there’s no minimum capital requirement. However, for a limited joint-stock partnership, you need to deposit 50,000 PLN.
Can Foreigners Start a Business in Poland?
Yes, foreigners can start a business in Poland with the right visas. If you work for a Polish company, get a Type A work permit. For those on an intra-company transfer, a Type C or E permit is suitable. There are also visas for business and entrepreneurship.
Work Permits and Visas for Foreigners
To apply for these visas, you’ll need several documents. This includes an application form, proof of payment, and legal status confirmation. Also, current economic records of the company, the company deed, health insurance for you, and a copy of the company’s contract.
Government Assistance for Foreign-owned Businesses
The Polish government helps businesses grow, especially those with foreign ties. They offer the Poland Prize program to boost startups. Qualifying companies can get up to PLN 250,000 in funding. Plus, the Polish Agency for Enterprise Development supports programs that help businesses thrive.
How Multiplier Can Help
If you want to start a business in Poland, setting things up can be tricky. With Multiplier by your side, the process becomes much simpler. We offer support from setting up your team to hiring more staff. Our services include finding the best people for your startup worldwide.
Additionally, we help your company grow internationally and navigate new markets. We also take care of all financial concerns from the start.
To give your business a boost and advance its growth, reach out to Multiplier today.
| Service | Description |
|---|---|
| Global Talent Hiring | We help you hire the best talents for your Poland startup or business from around the world. |
| Global Expansion | Expand your company’s operations to Poland and other global markets with our support. |
| Enterprise Solutions | Our comprehensive services cater to the needs of enterprises looking to establish or grow their presence in Poland. |
| Finance Management | We handle all your financial requirements, from business registration to tax compliance, so you can focus on your core business. |
Conclusion
Starting a business in Poland has many perks, like its central European position and strong economy. The steps for company setup can seem complicated at first. They include visas, the right business type, and registering. Yet, with the correct advice, starting a successful business here is very possible.
Poland is a good choice for EU citizens or those from other countries wanting to grow their business. With government help for new startups, businesses can take advantage of Poland’s welcoming climate. This country boosts a great network, skilled people, and supports new business growth. It’s truly a top spot for anyone aiming to launch in Europe.
The country’s strategic position, confirmed by a strong economy and support for businesses, is very inviting. By understanding the setup and using available resources, business owners can make way for success. Poland’s growing market and support systems are ready to welcome entrepreneurs of all sorts.
