Company Formation in Poland
Poland has as of late fostered another corporate tax policy enforced since 2019. A company whose corporate tax income of EUR 1.2 million or more for every year would come under the domain of this corporate tax policy. Their income revenue generated should be not more than 33%.
Opportunities related to the technology are arising in Poland which offers inventive techniques to test various types of items. These areas draw in greater investments for research and development. Tax incentives are provided to such areas by the government so as to initiate different types of companies.
Poland is chosen worldwide to set different types of companies as it has cheap labour and a number of manufacturing activities. Henceforth an investor would go for the company formation procedure in Poland.
Advantages of Company Formation in Poland
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Tax Incentives- Poland has as of late fostered another corporate tax strategy enforceable from 2019. Company whose corporate tax income is of EUR 1.2 million or more yearly will come under the domain of this corporate tax policy. Income revenue must not be more than 33%.
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Manufacturing Hub- Poland is observed as one of the biggest manufacturing centres in the European Union. Various automobile companies incline towards Poland for establishing their manufacturing units. Aside from this, Poland gathers products and trade it all through the EU. Maximum of the aeronautical companies lean toward Poland for aircraft assembly production line.
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Cheap Labour- One more advantage of company establishment in Poland is the availability of cheap labour. Normally, EUR 10 per hour is the earning of workers there. Subsequently companies would pick Poland to commence services.
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Investment Grants-Government grants are one of the main benefits of company establishment in Poland. Many companies favour putting investments into Poland as the government offers various grants for job creations. In any case, this grant will be provided to only those countries who have invested the amount greater than EUR 9.3 million.
Tax Incentives- Poland has as of late fostered another corporate tax strategy enforceable from 2019. Company whose corporate tax income is of EUR 1.2 million or more yearly will come under the domain of this corporate tax policy. Income revenue must not be more than 33%.
Manufacturing Hub- Poland is observed as one of the biggest manufacturing centres in the European Union. Various automobile companies incline towards Poland for establishing their manufacturing units. Aside from this, Poland gathers products and trade it all through the EU. Maximum of the aeronautical companies lean toward Poland for aircraft assembly production line.
Cheap Labour- One more advantage of company establishment in Poland is the availability of cheap labour. Normally, EUR 10 per hour is the earning of workers there. Subsequently companies would pick Poland to commence services.
Investment Grants-Government grants are one of the main benefits of company establishment in Poland. Many companies favour putting investments into Poland as the government offers various grants for job creations. In any case, this grant will be provided to only those countries who have invested the amount greater than EUR 9.3 million.
Qualified Business Structures for Company Formation in Poland
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Partnerships-This is additionally known by the term 'Spółka jawna, sp. J'. Partnerships are one of the essential business structures which are used in Poland. Separate legal entity’s principle is not applied in this business structure. Consequently, partners are liable only to an extent. Also, share capital is not needed to frame such partnership.
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Professional Partnerships- This is additionally known by the term 'Spółka partnerska, sp. P.'. Such partnerships are controlled by freelance experts. A candidate going for company establishment in Poland should assure that freelance experts commence this sort of business structure. Typically, this partnership will be set up by proficient engineers, legal counsels, architects, medical caretakers, doctors and midwife.
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Limited Liability Partnerships-This is likewise known by the term 'Spółka partnerska, sp. K.' Limited liability and separate legal entity’s principle will not be applicable to partners. Somewhere around one partner will have unlimited liability while the others liability will be limited.
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Limited Joint-Stock Partnership-This is additionally known by the term 'Spółka komandytowo-akcyjna, SKA'. This sort of establishment has the components of a joint stock company alongside a partnership. General meeting should be held for this type of partnership. PLN 50,000 is the minimum capital which is compulsorily needed for setting up such entity.
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Corporations- Corporations in Poland are even called as commercial companies or 'Spółka z ograniczoną odpowiedzialnością'. Shareholders and directors would be designated for this sort of establishment. PLN 5000 is the minimum capital which is compulsorily needed. For the course of company formation in Poland, this type of business structure is well known.
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Joint-Stock Companies- This is additionally known by the term 'Spółka akcyjna'. PLN 100,000 is the minimum capital which is compulsorily needed for establishing such company. This kind of establishment is like a company which has listed its shares in the stock exchange. This sort of establishment is appropriate for people in general and enormous number of shareholders.
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Simplified Joint-Stock Companies-This is otherwise called the term 'Prosta spółka akcyjna'. Such establishments are used for firms and new businesses whose investment is limited. PLN 1 is the minimum share capital needed at the time of setting up such company. Directors and shareholders are designated for these companies to carry forward decisions.
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Branch Office- A foreign company going for the course of company establishment in Poland can use this type of establishment. Generally, the activities which are carried forward in the parent state would just be led by this type of company in Poland. This establishment should be enlisted in the registry court. Separate accounting books in polish language should be kept up with by this type of company.
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Representative Office- A foreign company going for the course of company development in Poland can use this type of establishment. Such offices can commence advertising and promotional activities. This establishment should be entered into the foreign company register of offices. Enlistment would be valid for a time of two years for such office.
Partnerships-This is additionally known by the term 'Spółka jawna, sp. J'. Partnerships are one of the essential business structures which are used in Poland. Separate legal entity’s principle is not applied in this business structure. Consequently, partners are liable only to an extent. Also, share capital is not needed to frame such partnership.
Professional Partnerships- This is additionally known by the term 'Spółka partnerska, sp. P.'. Such partnerships are controlled by freelance experts. A candidate going for company establishment in Poland should assure that freelance experts commence this sort of business structure. Typically, this partnership will be set up by proficient engineers, legal counsels, architects, medical caretakers, doctors and midwife.
Limited Liability Partnerships-This is likewise known by the term 'Spółka partnerska, sp. K.' Limited liability and separate legal entity’s principle will not be applicable to partners. Somewhere around one partner will have unlimited liability while the others liability will be limited.
Limited Joint-Stock Partnership-This is additionally known by the term 'Spółka komandytowo-akcyjna, SKA'. This sort of establishment has the components of a joint stock company alongside a partnership. General meeting should be held for this type of partnership. PLN 50,000 is the minimum capital which is compulsorily needed for setting up such entity.
Corporations- Corporations in Poland are even called as commercial companies or 'Spółka z ograniczoną odpowiedzialnością'. Shareholders and directors would be designated for this sort of establishment. PLN 5000 is the minimum capital which is compulsorily needed. For the course of company formation in Poland, this type of business structure is well known.
Joint-Stock Companies- This is additionally known by the term 'Spółka akcyjna'. PLN 100,000 is the minimum capital which is compulsorily needed for establishing such company. This kind of establishment is like a company which has listed its shares in the stock exchange. This sort of establishment is appropriate for people in general and enormous number of shareholders.
Simplified Joint-Stock Companies-This is otherwise called the term 'Prosta spółka akcyjna'. Such establishments are used for firms and new businesses whose investment is limited. PLN 1 is the minimum share capital needed at the time of setting up such company. Directors and shareholders are designated for these companies to carry forward decisions.
Branch Office- A foreign company going for the course of company establishment in Poland can use this type of establishment. Generally, the activities which are carried forward in the parent state would just be led by this type of company in Poland. This establishment should be enlisted in the registry court. Separate accounting books in polish language should be kept up with by this type of company.
Representative Office- A foreign company going for the course of company development in Poland can use this type of establishment. Such offices can commence advertising and promotional activities. This establishment should be entered into the foreign company register of offices. Enlistment would be valid for a time of two years for such office.
Qualification Criteria for Company Formation in Poland
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Capital required- The prescribed capital is expected for company registration in Poland. Limited Liability Companies are expected to have at least PLN 5000 as capital. Limited Joint Stock Partnerships are expected to have at least PLN 50,000 as capital. Though Joint Stock Companies in Poland are expected to have minimum of PLN 100,000 as capital. To go for a new business in Poland the applicant needs to have at leastPLN1 as capital.
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Number of Directors- At least a director is needed for Corporations and Joint Stock Companies.
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Number of Shareholders- An individual needs to be appointed as a shareholder as having at least one shareholder is a requisite to frame such entity. A company itself can't be delegated as a shareholder.
Capital required- The prescribed capital is expected for company registration in Poland. Limited Liability Companies are expected to have at least PLN 5000 as capital. Limited Joint Stock Partnerships are expected to have at least PLN 50,000 as capital. Though Joint Stock Companies in Poland are expected to have minimum of PLN 100,000 as capital. To go for a new business in Poland the applicant needs to have at leastPLN1 as capital.
Number of Directors- At least a director is needed for Corporations and Joint Stock Companies.
Number of Shareholders- An individual needs to be appointed as a shareholder as having at least one shareholder is a requisite to frame such entity. A company itself can't be delegated as a shareholder.
Company Formation Process in Poland
A candidate carrying on with work in Poland would expect to follow the beneath process-
Commercial Companies
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Each shareholder who are buying into the company should implement the articles of association. This process is carried out in the form of notary deed.
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After this procedure is accomplished, all required documents should be put together by the shareholders.
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When the documents are submitted, the subscriptions of the shareholders should be paid and the company name would be mentioned in the business register.
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Consistent Compliance is expected as per the applicable Polish Law.
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The procedure of company establishment in Poland can likewise be done online as well through the Polish Company Register https://prod.ceidg.gov.pl/ceidg.cms.engine/
Joint Stock Companies
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The process for framing such companies under Polish regulation would be like the process which is associated with framing commercial companies.
Partnerships
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Firstly, all the partners must implement the partnership agreement.
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The articles of association must also be implemented in the form of notary deed.
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When this procedure is completed, the company’s name should be mentioned in the register of companies.
Branch Offices
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It is an entity that has its office enlisted outside Poland.
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The directorate and managers need to take a decision connected with establishing a branch office in Poland.
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The establishment would rely upon the legal prerequisites of the company in the foreign country.
Requirements for Doing Business in Poland
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Shareholders Meetings-Both commercial companies and joint stock companies in Poland must yearly conduct at least once a shareholder meeting. Once the previous financial year ends, the shareholders meeting should be conducted. A half year time is expected for this. Shareholders meetings are not needed for branch offices, representative offices and companies. In any case, the parent company is the fundamental authority to settle on this prerequisite.
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Board Meeting- Companies which are enrolled in Poland should conduct board meetings in adherence with the provisions of Polish Law.
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Corporate Tax- 19% percent of the corporate tax is to be paid by the companies in Poland.
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Business Registry Requirements-Shareholders, chiefs and the executives’ names ought to be enrolled with the related Poland library. Companies should get registered in the National Court Register.
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Yearly Statements- Yearly statements must be filed by all the entities in adherence to Polish law. This should be recorded with the Registry Court. Previous financial year’s tasks must be accounted for.
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Financial statements-All financial statements must be endorsed according to the law.
Shareholders Meetings-Both commercial companies and joint stock companies in Poland must yearly conduct at least once a shareholder meeting. Once the previous financial year ends, the shareholders meeting should be conducted. A half year time is expected for this. Shareholders meetings are not needed for branch offices, representative offices and companies. In any case, the parent company is the fundamental authority to settle on this prerequisite.
Board Meeting- Companies which are enrolled in Poland should conduct board meetings in adherence with the provisions of Polish Law.
Corporate Tax- 19% percent of the corporate tax is to be paid by the companies in Poland.
Business Registry Requirements-Shareholders, chiefs and the executives’ names ought to be enrolled with the related Poland library. Companies should get registered in the National Court Register.
Yearly Statements- Yearly statements must be filed by all the entities in adherence to Polish law. This should be recorded with the Registry Court. Previous financial year’s tasks must be accounted for.
Financial statements-All financial statements must be endorsed according to the law.
Documents needed for Company Formation in Poland
The accompanying documents are expected for company formation in Poland-
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Data connected with the business like the name and address of the registered business
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Articles of Association and Memorandum of Association
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Activities commenced out by the company
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Amount of subscribed share capital necessarily required
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Number of shares held by the shareholders
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Number of representative shares held by the shareholder
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Notary deed
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Company Term
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Partnership agreement
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