By Residence Angels
Immigration Lawyer in Poland
Immigration Lawyer in Poland
Business Registration in Poland
Reading time: 7 minutes
Poland offers various business structures to cater to diverse business needs. Here are the main types of companies in Poland and their characteristics:
1️⃣ Limited Liability Company (Sp. z.o.o)
- Suited for small and medium-sized businesses.
- Founders are liable only up to the capital invested in the company.
2️⃣ Joint Stock Company (SA)
- Functions as a limited liability company.
- Investors' liability is limited to their invested capital.
- Public SA can be listed on the Stock Exchange.
3️⃣ Partnerships
- Come in several forms such as limited partnership and general partnership.
- Founders have different levels of liability depending on the partnership form.
4️⃣ Sole Trader
- The simplest business form.
- Founder bears the highest degree of liability.
Choosing the appropriate business structure is crucial to align with your business objectives and level of liability.
Types of Companies in Poland
Licenses for special activities
When it comes to incorporating your company, let's cover some general information. You'll need to specify the type of activity your company will engage in. The LLC structure provides considerable flexibility. The essential requirement is that your business activities fully align with Polish law.
However, keep in mind that certain activities, such as personal and property protection services, broadcasting, or medical services, may necessitate additional permits or licenses in compliance with regulations.
F.ex. To open labor (manpower) company in Poland you have to get certificate from labor office which will permit to supply with manpower other companies in Poland.
If you opt for the traditional route, you'll need to visit a notary office. During this process, all partners of your LLC must be present. If any of partners is not able to come for notarial registration of company - you can hire power of attorney who will represent one or both partners in that deal. This method is more secure in relation of partners.
If you choose the electronic route, it's a more cost-effective option. However, you'll need a qualified digital signature for this method. This method is good if you are not able to come to Poland during the process of company registration. Beside that next updates in KRS can be also done online with no need to visit notary office and pay extra costs again and again.
Traditional Notarial Registration
Online Registration
- IDs of partners who are natural persons (or passports or residency cards if you or your partners don't have a Polish ID).
- Information about your partners, including names, surnames, personal and legal status details, and insurance information.
- Desired company name.
- Duration of the LLC.
- Office details for the LLC.
- Objective of the LLC's activities.
- Details on the invested share capital.
- A statement about whether a company member can hold more than one share.
- Initial value and number of shares for each member.
Indeed, an LLC in Poland must have its own share capital, and it must meet the minimum requirement, which is PLN 5,000. This is a crucial financial foundation for the limited liability company to commence its operations and fulfill its business objectives.
- Information about your partners, including names, surnames, personal and legal status details, and insurance information.
- Desired company name.
- Duration of the LLC.
- Office details for the LLC.
- Objective of the LLC's activities.
- Details on the invested share capital.
- A statement about whether a company member can hold more than one share.
- Initial value and number of shares for each member.
Indeed, an LLC in Poland must have its own share capital, and it must meet the minimum requirement, which is PLN 5,000. This is a crucial financial foundation for the limited liability company to commence its operations and fulfill its business objectives.
Here's what you'll need to set up your company:
How to register the company in Poland?
NIP & REGON (Company registration numbers)
In both cases, you'll need to register business in Poland with two key entities: the National Court Register (NCR) and the Court and Commercial Monitor (CCM). This registration process is essential for obtaining your company's tax identification number (NIP) and statistical company number (REGON).
These steps are crucial for officially recognizing your company and setting it up to operate in compliance with legal requirements.
These steps are crucial for officially recognizing your company and setting it up to operate in compliance with legal requirements.
COSTS in opennig of business in Poland
To draft a contract for establishing the LLC, you'll incur notarial and court costs. Here's a breakdown of these costs and other fees involved:
Notarial Tariffs:
Notarial Tariffs:
- Notarial tariffs vary based on your LLC's share capital.
- For a share capital of PLN 5,000, the tariff is approximately PLN 160.
- For a share capital of PLN 2,000,000, the cost can be around PLN 6,800.
- The cost for inscription in the NCR is a tariff of PLN 500 per inscription.
- The CCM inscription comes with an additional cost of PLN 100.
- This tax is calculated as 0.5% of the share capital (minus notarial tariffs, NCR, and CCM fees).
- For instance, if the share capital is PLN 5,000, the tax will be approximately PLN 20. If it's PLN 100,000, the tax will be around PLN 500.
When setting up your business, having a dedicated bank account for company transactions is crucial, except if you fall under the category of a 'micro entrepreneur' as defined by the Entrepreneurs Act. Here are the conditions for being classified as a micro entrepreneur:
- Employed on average less than 10 employees per year.
- Achieved an annual net turnover not exceeding the PLN equivalent of EUR 2 million OR total assets at the end of one of these years did not exceed the PLN equivalent of EUR 2 million.
Even if you meet the criteria to be a micro entrepreneur, it's advisable to consider having a separate business account. This ensures clear separation between personal and business finances and facilitates smooth financial management for your company.
Compare offers from various banks to find the best fit. Here's a simpler breakdown of what to consider:
Charges and Fees:
Check the costs associated with account maintenance, transactions, and international transfers to match your budget and usage.
Guidance and Support:
Look for banks that provide specialized guidance and support for businesses, understanding your unique needs.
Local Branches:
Consider the availability and proximity of branches for in-person visits if necessary.
Mobile and Online Services:
Ensure the bank offers easy-to-use mobile and online banking services accessible from your computer or smartphone.
Document Legalization:
Understand if the bank requires document legalization, especially if documents are from a different country.
Comparing these aspects will help you choose a bank that aligns with your company's banking requirements in Poland.
Check the costs associated with account maintenance, transactions, and international transfers to match your budget and usage.
Guidance and Support:
Look for banks that provide specialized guidance and support for businesses, understanding your unique needs.
Local Branches:
Consider the availability and proximity of branches for in-person visits if necessary.
Mobile and Online Services:
Ensure the bank offers easy-to-use mobile and online banking services accessible from your computer or smartphone.
Document Legalization:
Understand if the bank requires document legalization, especially if documents are from a different country.
Comparing these aspects will help you choose a bank that aligns with your company's banking requirements in Poland.
Thank you for reading this article!
Read more about business in Poland:
Our services are designed to guide you through the process of establishing your company in Poland seamlessly. Here's an overview of what we offer:
1️⃣ Company Registration Assistance:
2️⃣ Corporate Document Preparation:
3️⃣ Bank Account Setup Assistance:
4️⃣ Establishment of Company:
5️⃣ Professional Accounting Services:
Our goal is to ensure a seamless and successful establishment of your company in Poland, handling all essential aspects efficiently and professionally.
1️⃣ Company Registration Assistance:
- We'll guide you through the entire company registration process in Poland.
- You'll receive a complete set of documents, including the articles of association and registration card.
2️⃣ Corporate Document Preparation:
- We meticulously prepare all necessary documents and provide translations in any language.
- If needed, we facilitate the addition of Apostille clauses to the documents.
3️⃣ Bank Account Setup Assistance:
- Our experts assist you in selecting the most suitable bank and handle the preparation of all required documentation for account setup.
4️⃣ Establishment of Company:
- We provide you with options for both actual and virtual office setups, along with utility bills essential for your company's establishment.
5️⃣ Professional Accounting Services:
- Our dedicated accounting team, based in Warsaw, comprises experienced Polish accountants who offer services in English.
- We ensure smooth financial management for your company.
Our goal is to ensure a seamless and successful establishment of your company in Poland, handling all essential aspects efficiently and professionally.