Company Formation in Poland

Roadmap

How long does it take to register a company in Poland?

• 20-30 working days

What are the steps to register a company in Poland?

The registration process of a company in Poland is very simple. The experts of LegalBison will assist you throughout every step of it:

1. Initial consultation and agreement
2. Payment of the full invoice
3. [IF REMOTELY]: Notarization of POA by client
4. Preparation of registration documents
5. Document signed at the notary
6. Official register validity: immediately

Taxes

How high are the corporate income tax in Poland?

The standard corporate income tax in Poland in 19%

• However, starting 2021, Poland applies an «Estonian corporate tax system» on its registered businesses whose turnover does not exceed 100M PLN (approx. 22M EUR)
• This means that only the distributed profits (dividends) are taxed, to the length of 19%. All the reinvested profits are not tax liable

 

What Double-tax treaties has Poland?

  Many countries have bilateral conventions to avoid double taxation and prevent fiscal evasion Albania, Argentina, Australia, Austria, Azerbaijan, Bangladesh, Belgium and Luxemburg, Belarus, Bulgaria, Canada, Chile, China, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Finland, France, Germany, Greece, Hungary, India, Indonesia, Israel, Iran, Italy, Jordan, Kazakhstan, Kuwait, Latvia, Lithuania, Macedonia, Malaysia, Moldova, Mongolia, Morocco, Norway, Portugal, Romania, South Korea, Serbia, Sweden, Switzerland, Singapore, Slovakia, Slovenia, Spain, Thailand, The Netherlands, Tunisia, Turkey, United Kingdom, Ukraine, United Arab Emirates, United States of America, Uruguay, Uzbekistan, Vietnam Status: Q1 2021

VAT number

Without VAT number

• Company will not be eligible to receive VAT refunds, which means everything bought is 23% more expensive (important: B2B payments between two VAT exempt companies are not more expensive)
• Your company will not have to file monthly tax returns (prerequisite: no one receives a salary), which means low costs

With VAT number

• Your company will be eligible to receive VAT refunds, which means you can make use of the reverse-charge mechanism
• Monthly tax returns have to be filed, even if no transactions occur
• Any Polish company can ask for a VAT registration
• Getting a VAT number is mandatory if sales exceeds 200,000 PLN in a year

Decide first

1. Do you want to buy a ready-made company or start a new one?
2. Can you travel or do you want to do everything remotely?
3. Is the minimum share capital of 5,000 PLN planned in your budget?

Speak to our consultants to get a free consultation and guidance on how to choose the best jurisdiction based on your business model.

Documents to provide for company registration in Poland

• Passport copies (a scan) of shareholder/s and director/s, also beneficiary owner if applicable
• A Power of Attorney (in case of a remote company registration)
• Certified company documents (in case at least one of the shareholders is going to be a foreign company)

Information needed to get company registration in Poland

• 3 options of your desired name for the company and a company contact email address
• Names, addresses and emails of all shareholders and board members
• Short description of your company’s activity

Remote incorporation

• The whole incorporation process can be conducted remotely. No travel necessary. Notarization of documents is necessary
• A Power of Attorney (POA) from (all) partners/shareholders is needed
• The POA is sent to you by us based on the services you want
• You have to certify the POA by a notary and in some cases legalize it by apostille (some countries need full legalization)
• Once you have the POA on your hands, we double-check, and you send us the original form (physical document!) via courier to our address
• Poland is part of the Hague Convention of the Apostille

Accounting and auditing

• Books have to be kept at all time in Poland and an annual report has to be filed within 3 months of the end of the year, including independently audited financial statements

Residential requirements

What are the residential requirements in Poland?

• There are no residential requirements for directors, shareholders and board members of a Polish LLC
• A registered address in Poland is required
• Shareholders' meetings need to be conducted on the territory of Poland

LegalBison offers help with all of the above requirements. We assist and are local on ground. Speak now for free with one of our consultants to get your business started.