POLAND

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POLAND

GENERAL INFORMATION ABOUT THE JURISDICTION

Republic of Poland – state in Central Europe, is a member of EU and NATO. Recently Poland has  significantly expanded its role and strengthened its position in its relations with Europe and the West supporting and establishing friendly relations with the Western world as well as with other European states.

The Polish government was planning to cancel the zloty in 2012 and to introduce the euro in the country. Poland still can not get out on the financial and economic indicators, which are required to enter into the European Union common currency area. This applies to the size of the deficit of the state budget, as well as the stability of the national currency.

OPEN A FIRM IN POLAND - BENEFITS:

- There is no obligation to hire residents.

- Loyal European tax legislation, including low tax rates.

- Possibility of 100% ownership of a local company by a non-resident.

- Favorable commercial and economic territorial location of Poland for business registration.

LEGISLATION 

Company formation in Poland is regulated by the Law "On Economic Activity" in 1999 and the Law "On freedom of entrepreneurship" in 2004. The Law "On Economic Activity" entered into force on 1999 regulates that foreign enterprises and foreign residents can engage in Poland any lawful business in any legal form "on the basis of reciprocity.

COMPANY FORMATION

Types of company

The most popular form of the company is (LTD) – Spolka z ograniczona odpowiedzialnoscia (sp. zo.o.). A feature of this type of company is the lack of responsibility of shareholders for the obligations of the company, since the latter is responsible for all obligations with its property.

LIMITED LIABILITY COMPANY:

  • The minimum authorized capital of limited liability company – €1250, payment by the moment of incorporation is not required. 
  • Director  – minimum one natural person. No residential requirements.
  • Shareholder – minimum one natural person, or legal entity. No residential requirements.
  • Secretary is not required.
  • Publicly available information - company name, information on beneficial owners, legal address.
  • Reporting - it is necessary to maintain and submit financial statements, in some cases an audit is required.
  • Office - the company must have a local registered office. If a company plans to receive a VAT number and open a bank account in Poland, a virtual office is not allowed, in such cases, a real office or premises lease is required.

TAXATION

There are following taxation rates in Poland:

VAT – 23%. VAT number is mandatory if the company, after the start of work, has a turnover of more than 200,000 PLN/year (about 45 000 EUR). Registration and receipt of this number obliges the company to submit monthly reports.

Corporate tax – 19%

Income tax from individuals  –  from 19% to 30% depending on the amount of income

Dividends – 19%, if double tax treaty doesn’t prescribe another rate.

The rate on dividends in favor of individuals is 18%.

CURRENCY CONTROL

None.

DOUBLE TAX TREATY

Poland has valid international bilateral treaties on the avoidance of double taxation with more than 60 countries, including Ukraine. Moreover, the jurisdiction has signed a number of agreements on bilateral cooperation in the exchange of tax information, Ukraine is one of them.

FEATURES

Poland is not an offshore company and is not included in the black lists of jurisdictions, therefore it is prestigious and profitable to open a company here. Establishing a business and registering a company in Poland together with Campio Group is safe and easy.

If you want to register a company in Poland, please contact our lawyers for advice:

+38 (044) 383-48-88

+38 (044) 383-28-88

We will help you open a company in Poland or in any other jurisdiction of your choice, as well as answer all your questions.