Company incorporation in Poland
One of the most flexible business structures that Poland has to offer is a Sp. z. O. O. (Limited Liability Company) as it offers limited liability of its shareholders. The business structure of a limited liability company is the most widespread in Poland. To successfully integrate an SP. e.g. o .o you need a minimum share capital of 5000 PLN (~1180 EUR), divided into several shares. In order to complete the incorporation process with the commercial register, a director, a shareholder and the legal address of a company are required. The liability of the partners is strictly limited by the amount of their contribution to the company capital.
Brief overview of the Polish economy
The economy in Poland is quite thriving, mainly due to the private corporate sector. The Polish government encourages foreign investment in Poland by signing double tax treaties with a large number of countries and offering a wide range of incentives to entrepreneurs who decide to come from abroad and start a business in Poland.
company incorporation procedure
The formation process of the Polish LLC may vary slightly depending on the circumstances. However, there is a general pattern of steps that need to be taken to successfully start a fully functioning business:
Signing of the constitutional deed of incorporation and the articles of association. Both documents should be notarized;
Conclusion of a document (often lease agreement) for renting premises where the legal address and official office of the company will be located;
Submission of all incorporation documents to the National Commercial Register of Poland;
Notifying the local tax authority of a new company with operations. obtaining a local taxpayer number;
registration of the company in the register in the Official Gazette;
Registration of the enterprise with the local branch of the statistical office;
Opening a corporate bank account at the local (or foreign) bank;
Notification of labor and health services in accordance with the legal requirements of labor law;
If staff are hired, they must be reported to the local Social Security Administration office.
At least one director must be present on the board of directors to form an LLC in Poland. In Poland, only a natural person can be the manager of a company: another company or legal entity cannot hold this position. There are no statutory citizenship and/or residency requirements for directors, but to speed things up with banks and the tax authorities it is strongly recommended that a resident director be appointed. An official commercial register of the company must be kept at the legal address of the company in Poland.
At least one registered shareholder is required to register a company. There are no citizenship or residency requirements for the shareholder, therefore 100% equity ownership by a foreigner is possible. An official share register of the company must be kept at the company's legal address in Poland.
The required minimum share capital is 5000 PLN (approx. 1180 EUR), with the lowest possible share value being 50 PLN (~ 12 EUR).