How to Establish a Business in Poland
Despite being truly a relatively small country, Poland has one of the very most vibrant economies in Central and Eastern Europe. It is the biggest economy in the region and serves as an attractive destination for foreign investors seeking to take up a business. But, before you are able to do that, it's important to understand the basic principles of company formation in Poland.In this informative article, we'll walk you through most of the steps necessary to create your company in Poland.
The first faltering step in the act is to register your organization with Poland's Central Business Registry (KRS). This is performed by submitting a credit card applicatoin to the KRS and providing all the mandatory documents. Documents needed incorporate a copy of one's passport, proof of residence in Poland, a completed business plan, an authorization form signed by all partners, and a listing of company shareholders. Once all the documents are submitted, you should receive confirmation in two weeks or less.
After registering your business with KRS, you need to also register it for tax purposes. This is done through the Ministry of Finance and requires filing a software form as well as other legal documents like a certificate of incorporation, memorandum of association, and bank statement. Once these documents are submitted, you need to get a tax identification number (NIP) in fourteen days or less.
Once your company is registered with the KRS and Ministry of Finance, you can then apply for any necessary permits or licenses required to operate your business. This could include a professional license, a trade license, or permits to operate in certain areas. Depending on the form of business you're running, other authorizations may be required as well.
Next, you'll need to open a bank account for your business. This can be carried out at the major banks in Poland and requires submitting the same documents you submitted for KRS and Ministry of Finance registration.
Finally, you'll need to register your organization with the Social Insurance Institution (ZUS). This is performed by submitting a copy of the company's articles of association, proof address in Poland, and a list of all employees. Once these documents are submitted, you should receive confirmation in a couple of weeks or less.
1: Choose Your Business Structure
The first step to establishing your company in Poland is deciding on a legal structure for the company. There are numerous options available, but the most typical ones are limited liability companies (LLC) and joint stock companies (JSC). LLCs are simpler and require less paperwork than JSCs, but they also have fewer benefits as it pertains to taxation and profit distribution. JSCs offer more technical structures with higher compliance requirements, however they come with greater financial flexibility and tax advantages.
2: Register Your Company
Once you've chosen a structure for your company, you will need to join up it with the Polish government. This process involves filing documents at the National Court Register (KRS), that is in charge of registering businesses in Poland. You will have to provide details including the name of your organization, its registered address, its capital structure, etc., as well as other relevant documents like statutes or articles of association. Make certain every one of these documents are properly prepared before submitting them to KRS.
3: Obtain Permits & Licenses
With regards to the form of business you intend to start in Poland, you might need special permits or licenses from local or national regulators. Like, if you intend on running a cafe or retail shop then you definitely will probably need permission from local authorities as well as health and safety licenses from state institutions like Sanepid (the Polish sanitary inspectorate). Make sure you research all applicable regulations beforehand to ensure that you may get all necessary permits and licenses prior to starting operations.
Conclusion:
Starting a small business in Poland may be daunting initially due to any or all the paperwork involved but following these three steps should help make things easier for you. First off select a legal structure that best suits your needs; then register your company with KRS; finally obtain any required permits/licenses from local or national authorities before you begin operations. With some patience and dedication following this guide should have your organization up-and-running smoothly in no time! Best of luck!