Poland’s location within Europe makes it incredibly advantageous for companies trading internationally. The country boasts the largest market in central Europe, larger even than nine of the most recent EU members put together, as well as access to the diverse markets in the east. In addition, living and labour costs are low, making it a cost effective location for a range of companies worldwide. As a result, the numbers of foreign investment in Poland have been booming and are continuing positively, despite the recession impacting heavily on many countries.
Universal Company Incorporations provides specialist support for Polish company formation. Our proactive approach will implement solutions to meet your business requirements and ensure your company has the flexibility and capability to compete and prosper in the Polish market.
Company Set Up Options
There are four main kinds of Polish company to incorporate;
- A Limited Liability Company (Sp. z o.o) is the most popular format and has few restrictions, making it easily accessible
- A Joint Stock Company (S.A.) is suitable for larger companies or corporations as there is a higher standard of requirements and capital
- Partnerships come in four types; Registered, Limited, Professional, and Limited Joint-Stock, with varying degrees of liability; and a Sole Proprietor is the simplest form with the fewest regulations, but also has unlimited liability.
Each company form offers features and benefits to suit a certain type of business, depending on size, type of operations, and business plans. This will form the basis of your core business in Poland, so choosing the most suitable entity is important to maintain and improve all areas of your business. International Formations have the breadth and depth of knowledge to ensure that you decide on the right type of company. Our team will help you with the formation, tax planning, bank account, and registration to get your company up and fully operational as soon as possible.
Poland’s economic regime is one of the most liberal in Europe, with streamlined regulations and relatively low taxes to encourage foreign investment into the country. The government supports this drive to attract foreign investment and does not impose strict regulations in attempts to ease the pressure. In addition, profits and capital can be freely repatriated. However, some areas such as legal and accounting are fairly stringently regulated in order for the government to ensure conformity and maintain control.
To take advantage of the relaxed regulations and ensure compliance with the strictly enforced laws, local advice is recommended. International Formations have a local Polish office and a network of contacts in the country, as well as experience with the Polish regulatory environment. We will expertly help you navigate the various regulations and any changes that may occur.
Banking Facilities and Financial Incentives
Poland may not traditionally be known for its banking facilities, but the country is emerging as an important regional centre for the international banking community. Many major banks are represented in Poland’s capital of Warsaw. Throughout the rest of the country, local banks are also establishing themselves as strong competition, providing modern banking facilities for both domestic and foreign investors. As legal and accounting regulations are some of the strictest, setting up a Polish bank account does involve a lot of bureaucracy and the help of a local specialist is advised.
In terms of financial support, Poland generously offers a range of financial incentives to both encourage foreign investment and further boost the economy. These include grants of up to 25% for companies incorporating in the country, enhanced grants in Special Economic Zones of up to 50%, and further incentives following EU-funded schemes.
International Formations understand the needs of our clients and have the extensive knowledge and expertise to comprehensively support all your banking requirements. We are also able to keep up to date with the initiatives implemented by the Polish government and will help you take advantage of the benefits on offer, saving you time and money.
Poland’s unemployment rate, which is high, does not match its strong economic growth. EU membership may have granted academics the chance to move to the wealthier Western Europe, but Poland maintains a vast, well-educated and highly skilled workforce. As a result, recruiting motivated and skilled staff to build up your Polish company will not be difficult, although there is a large number to choose from.
Obtaining the help of a Polish recruitment firm will do the hard work for you, and present you with only the highest calibre employees for your business. It is important to source staff with the same business orientation as your core business, to ensure their capability and productivity. International Formations work with a Polish recruitment expert and will take care of this on your behalf.
Universal Company Incorporations is always on hand to guide you through all of the stages of forming a new enterprise or expanding an existing company in multiple countries. Please don’t hesitate to call us on +44 (0) 20 8421 7480 or contact us via the website for help and advice.