Poland Company Formation

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Poland

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Buying a European shelf company with VAT number

Whenever you need to start doing business immediately in a European country and you need a company with a VAT number, you don’t have to wait for the bureaucratic procedures.

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Guide to Company Incorporation in Poland

January 10, 2011, 3:07 pm
BridgeWest

1. What is the minimum share capital of a Polish sp. z.o.o. (Limited Liability Company)?
The most common form of business entity in Poland is the Limited Liability Company. The incorporation process requires the founders to provide a minimum capital of 5.000 PLN, or 1.240 EUR, paid in cash or non-monetary contributions. The capital is divided into shares which can be equal or unequal.

2. What is the minimum share capital for a Polish S.A. (Joint Stock Company)?
This business entity is designated for larger enterprises and a minimum of 12.730 EUR must be provided for incorporation purposes. The capital is also divided into shares of a previously established value and must be fully paid up prior to registration.

3. Are there any special requirements for establishing a Polish sp. z.o.o.?
Setting up a Polish Limited Liability Company is one of the best suited business legal forms for small to medium-sized business. Only one shareholder is required to set up the company, who can either be an individual or a legal entity. At least one director is required for the company, and there are no restrictions as to the nationality or residence of shareholders or directors. However a registered or virtual office is required. Every step of the incorporation process can be completed through power of attorney, appointing a legal representative to carry out the necessary steps. However, in order to deposit the initial capital the company must have a bank account. Some banks may require at least one presence of the account titular, to ensure of its presence. However many Polish banks have branches in other countries, so it is possible to open a bank account at a Polish branch of a bank in the founders' country and transfer all the information to the central Polish bank. Prior to commencing the registration process it is advisable for the company managers to find a bank and make an inquiry as to the possibility of setting up a bank account without travelling to Poland.

4. How can I register for VAT in Poland?
If the company is subject to VAT tax, it must register with the Polish Tax Authorities to obtain the registration number. The procedure can be done immediately after obtaining the registration certificate from the National Court Register. The application should contain an excerpt from the company foundation deed, the registration certificate and a standard form which must be completed by the managers of the company.

5. How can I open a bank account in Poland?
Opening a bank account for the new Polish company is a mandatory provision. Prior to registration the company must deposit the initial capital in a bank account which will be unblocked after the company receives the certificate of registration from the National Court Register. Most of the banks do not require presence of the bank titular and the bank account can be set up by a legal representative authorized through power of attorney who provides legalised passport copies of the managers and company documentation. Usually opening a bank account is finished in a few days.

6. How can I recruit personnel in Poland?
Poland is a country of well educated people, contributing to a skilled and productive workforce. A newly established company will not suffer from shortness of personnel, as there are plenty of ways to find employees. A company can create accounts on websites specialised in job placement, using different filters to select possible candidates. Another option is hiring recruitment agencies which will work to find the best suited candidates for the companies' free posts.

7. What is the average salary in Poland?
The state of Poland offers a good quality of life and a well structured social security system for its workforce. The average salary in Poland exceeds 1500 EUR.

8. What is the overall economical situation in Poland?
Since the affiliation with the EU the development rate of Poland's' economy has increased. Poland has a high income economy, ranking as one of the fastest economic growth countries in Europe. The private business sector has developed due to the liberal law on establishing new companies, and the relationship with the state business sector is one of collaboration, contributing to the stable economy of the state. Foreign investment is considered valuable in Poland and therefore the government encourages it by offering incentives and creating a welcoming business environment for investors all over the world.

BridgeWest offers company formation in Poland, including virtual office and other related services.




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Company Formation in Poland

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BridgeWest provides company formation services in Poland. Our assistance includes:

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Lawyers in Poland

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BridgeWest provides a wide range of legal services in Poland through our affiliated Polish lawyers and Law Firms in Warsaw, Krakow and other major cities in Poland. We are mainly specialized in the main aspects of Polish Commercial Law, including ... [More]