October 25, 2010, 3:38 pm
There are plenty of company types available in Poland, and entrepreneurs may choose from the best suited form for their business. Enterprises managed by a natural person are subject to registration, depending on the type of activities they will conduct. Partnerships are regulated by the Polish Civil Code, and commercial companies by the Polish Commercial Companies Code. Other functioning business types in Poland are the state owned enterprises. Societies, foundations and trade unions are also allowed to conduct economic activities. A Polish Branch can be established by foreign companies in order to conduct business activities according to the regulations of the parent company. An authorized representative of the company must be appointed to represent the branch, which should be registered with the National Court Register.
Preliminary activities prior to registering a company branch in Poland
The Polish company branch must have a bank account which needs to be opened prior to registration with the National Court Register. There are certain documents that need to be prepared for the application for registration. The documents need to be translated by an official translator in Polish language.
Registering a company branch with the National Court Register
A Polish company branch that wishes to engage in economic activities is obliged to perform registration with the National Court Register. In order to do that the founders or the representative of the company must submit an application containing notarized Articles of Association, certificate confirming the existence of the parent company, declaration, or bank statement confirming the capital deposit and other documents. Upon registration the applicants can also obtain the statistical number REGON, and tax identification number. Registering the Polish company branch along with the rest of the activities may take up to a month to complete.
After obtaining the registration certificate issued by the National Court Register the representative of the company branch must notify the official journal of its existence. Also an application for VAT registration must be forwarded and the Labor and Sanitary Inspectors must be notified of the commencement of the business activities in maximum 30 days. A branch set up by a foreign entrepreneur must maintain separate accountancy for the branch and notify the minister competent for economy of any changes in the factual and legal status of the company.
How long does it take to set up a branch in Poland?
Setting a company branch in Poland is a long and complex process as there are many procedures that need to be completed. However the process is straightforward and a specialized law firm can help entrepreneurs overcome the implicit hurdles. Notarizing articles of association and other required documents may be completed in one day, but the time period depends on the schedule of each notary public. Translations can be done simultaneously. Registering with the National Court Register and obtaining tax identification number, statistical number is a process that can be completed in up to a month. Setting up a branch in Poland may be completed in minimum one month, but usually it takes over a month and two weeks.
BridgeWest provides company formation in Poland. Our assistance includes:
> drafting the Articles of Association (necessary for the company incorporation in Poland); The Articles of Association can be si ... [More]