Company registration in Poland
LEGISLATION
Basic requirements
- Shareholders may be individuals or legal entities, residents of any country.
- The number of shareholders cannot be less than one.
- The company must have at least one director. Directors can only be individuals (in accordance with amendments to the law in 2015), and there are no restrictions on place of residence.
- The company's authorized capital is divided into shares and distributed among shareholders. There are no provisions regarding minimum and maximum authorized capital or paid-up authorized capital.
- Companies must have a registered office in the UK and receive official correspondence from regulatory authorities.
Required documents
Company registration is done online. To register a limited liability company in the UK, you must provide the following documents and information:
- Desired name for your company (preferably three options)
- Amount of authorized capital
- Legal address (Provided by us as a service when registering an LTD)
- Scanned copy of the civil and international passport of the director/shareholder
- Confirmation of permanent residence
- Go through online verification using a special mobile application
Registration deadlines
Company registration is done online. Registering a limited liability company in the UK takes 3 to 10 days.
Maintenance and reporting
- Shareholders may be individuals or legal entities, residents of any country.
- The number of shareholders cannot be less than one.
- The company must have at least one director. Directors can only be individuals (in accordance with amendments to the law in 2015), and there are no restrictions on place of residence.
- The company's authorized capital is divided into shares and distributed among shareholders. There are no provisions regarding minimum and maximum authorized capital or paid-up authorized capital.
- Companies must have a registered office in the UK and receive official correspondence from regulatory authorities.
Company registration is done online. To register a limited liability company in the UK, you must provide the following documents and information:
- Desired name for your company (preferably three options)
- Amount of authorized capital
- Legal address (Provided by us as a service when registering an LTD)
- Scanned copy of the civil and international passport of the director/shareholder
- Confirmation of permanent residence
- Go through online verification using a special mobile application
Company registration is done online. Registering a limited liability company in the UK takes 3 to 10 days.
BANKS / PAYMENT SYSTEMS
Pre-Approval of account opening
Let's consider the procedure for opening a bank account with preliminary approval from the bank of your choice or on our recommendation.
We will prepare the necessary package of documents and application forms from the applicant.
Legal support in completing the KYC/AML procedure when opening a bank account.
You can request a consultation here.
WISE
Paysera
Emerald24
Let's consider the procedure for opening a bank account with preliminary approval from the bank of your choice or on our recommendation.
We will prepare the necessary package of documents and application forms from the applicant.
Legal support in completing the KYC/AML procedure when opening a bank account.
You can request a consultation here.
TAXES
Features
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PIT
Progressive rate 20-45%
The tax rate is 20% for income from 0 to 37 GBP, 700% for income from 40 to 37 GBP and 701% for income from 150 GBP.
Corporate tax
Corporate income tax 19%
Capital gains tax
Capital gains up to £12,300 are not taxable.
Profits above this amount, but not exceeding £37,500, are taxed at 10%.
Profits over £37,500 are taxed at 20%.
VAT
The basic VAT rate is 20%.
However, for certain goods and services a reduced VAT rate of 5% applies.
Tax on dividends
Dividends are also taxed at progressive rates (7,5%, 32,5% and 38,1%)
The first £5000 is tax free.
Duties and stamp duty
The government fee for reviewing the annual report is £40, stamp duty remains at 0,5%.
here
Progressive rate 20-45%
The tax rate is 20% for income from 0 to 37 GBP, 700% for income from 40 to 37 GBP and 701% for income from 150 GBP.
Corporate income tax 19%
Capital gains up to £12,300 are not taxable.
Profits above this amount, but not exceeding £37,500, are taxed at 10%.
Profits over £37,500 are taxed at 20%.
The basic VAT rate is 20%.
However, for certain goods and services a reduced VAT rate of 5% applies.
Dividends are also taxed at progressive rates (7,5%, 32,5% and 38,1%)
The first £5000 is tax free.
The government fee for reviewing the annual report is £40, stamp duty remains at 0,5%.
ACCOMPANYING SERVICES
Legal subscription services
Company registration is done online. Registering a limited liability company in the UK takes 3 to 10 days.
Accounting services and audit
Company registration is done online. Registering a limited liability company in the UK takes 3 to 10 days.
Renting an office or legal address
Postal service
Financial statements
Creation of a company website
Company registration is done online. Registering a limited liability company in the UK takes 3 to 10 days.
Company registration is done online. Registering a limited liability company in the UK takes 3 to 10 days.
Opening a company in Poland: legal aspects and features
Starting your own business is an important step for any successful entrepreneur. However, today there are many countries where you can open a company and successfully conduct business. One of such states is Poland, because it has a stable European economy, high development of the latest technologies, large markets for products and goods. All these factors make opening a business in Poland as attractive as possible.
Content
- What are the main advantages of setting up a company in Poland?
- How to open a company in Poland?
- What is the list of necessary documents needed for registration of Sp. z o.o. in Poland?
- What are the opening dates for Sp. z o.o. online and in paper format?
- What is included in the cost of registering a company in Poland?
- What is the tax system and reporting?
- How can our company help?
What are the main advantages of setting up a company in Poland?
- Geographic location. Poland is located in the very center of Europe, has the opportunity to access the Baltic Sea, as well as distribute goods to various countries of the world, including post-Soviet countries (Lithuania, Latvia, Estonia, Ukraine, etc.).
- Large market for goods. As of 2023, Poland has a citizen population of 38 million, making it one of the largest markets across Europe.
- Access to European markets. Poland actively trades both with the European Union and with other countries of the world.
- Economic stability. The country's low inflation rates make it attractive to investors and provide an opportunity to open new businesses.
- State support for the tax burden on business. The Polish government actively supports foreign investment in the economy, and therefore constantly carries out business-friendly reforms to reduce the tax burden.
- Work force. The percentage of citizens in Poland who are fluent in English and other popular European languages is quite high, which in practice greatly facilitates the work of international companies.
How to open a company in Poland?
To open a company in Poland you need to go through the following main stages, namely:
- Choosing the organizational and legal form of business of a legal entity. At this stage, it is necessary to determine in what form it is planned to conduct business activity: individual entrepreneur, joint venture, limited liability company, joint stock company, etc.
- Choosing a company name. You need to choose a unique name for the company. To do this, you need to check the availability of the selected name in the relevant Polish registers.
- Obtaining a PESEL tax number. Used to identify persons located in Poland. Information is taken from the relevant register.
- Preparation of constituent documents. Authorized capital is not needed if you register as a private entrepreneur. For other forms of ownership, the minimum amount of company capital is PLN 5; there are no restrictions on the maximum amount. The cost of registration is calculated depending on the size of the authorized capital (the larger it is, the more expensive it is).
- Registration with tax authorities. This procedure occurs by submitting an application to the National Register of Taxpayers (Krajowy Rejestr Urzędowy Podatników) and obtaining a unique number in the REGON register (Rejestr Gospodarki Narodowej). The latter register was created for statistical purposes and is maintained by the General Authority for Statistics of Poland - GUS. In addition, you also need to obtain a NIP tax ID.
- Registration in the commercial register. Mainly for most types of business activities, the company must also be registered in the Central Register of Business Activities (Centralna Ewidencja i Informacja o Działalności Gospodarczej - abbreviated as CEIDG.
- Opening a bank account. To run a business you need open a corporate account at a financial institution.
- Obtaining licenses is permitted. Depending on the nature of the activity, opening a business in Poland may require special licenses and permits.
- Company insurance. To obtain business insurance, you must submit an application to the Social Insurance Institution.
Important ! It's entirely possible to open a company in Poland online, as the company founders don't need to be present in person in Poland.
What is the list of necessary documents needed for registration of Sp. z o.o. in Poland?
To start the registration procedure Sp. z o.o. (analogue of LLC in Ukraine) in Poland you need the following package of documents:
- application for business registration;
- three unique names for the company, which should be prioritized;
- the amount of planned authorized capital is minimum 5000 PLN;
- copies of foreign and internal passports of the director of the company and its founders;
- drafted constituent documents (for example, charter);
- detailed description of the company's activities;
- documents confirming the legal address of the company (for example, a lease agreement).
- documents confirming payment of all government fees;
- availability of licenses or permits (if you plan to carry out business activities that require them).
Important ! Obtaining a crypto license in Poland is currently not required, making it very easy to conduct business in the cryptocurrency sector. If you want to start a business in this field, the lawyers at Jurisprudential Ltd can help you implement it.
What are the opening dates for Sp. z o.o. online and in paper format?
- In electronic format — the entire registration process usually lasts from 3 to 21 days. The key issue is whether the founders have Polish digital keys, with the help of which the company is directly registered;
- In paper format, company registration in Poland — occurs with the help of a notary and lasts from 14 to 21 days. It is used in cases where the resident does not have a digital key to register a company in Poland electronically, it is necessary to include special provisions in the memorandum of association, or when the founder of the company in Poland is another enterprise.
What is included in the cost of registering a company in Poland?
The package of consulting services Registration of a company in Poland - from Jurisprudential Ltd includes:
- Direct registration of a company in Poland and other government organizations;
- Drawing up constituent documents;
- Opening a bank account in one of the TOP 3 Polish banks;
- Registration of the legal address of the company;
- Payment of all government fees;
- Production of the official seal of the enterprise;
- Legal support of the enterprise.
What is the tax system and reporting?
Poland has a progressive tax system, which is a reflection of the European system, but at the same time is characterized by moderate, average rates compared to other EU countries.
The main taxes are:
- Value added tax (VAT) - 23%. For some types of business activities, a reduced rate of 8%, 5%, 0% is applied (for example, medicines, certain food products, hotel and catering services, certain transport services and others). There is also a VAT refund;
- Income Taxes - 19%, there are also reduced rates of 9% for enterprises whose gross income is less than 2 million euros per year;
- Personal income tax - 12% on income not exceeding 120 zlotys per year, 000% on income over 32 zlotys per year;
- Social contributions (for example, a pension fund) - 9,76%.
Thus, low taxes in Poland indicate their efficiency compared to other European countries, which is quite beneficial for new businesses and start-ups.
Regarding reporting, it is worth noting the following. In Poland, when doing business, you need to submit the following reports to the tax authorities, namely:
- Annual report — at the end of the year, all legal entities that are taxpayers are required to submit an annual tax return within 3 months. This document will contain information about the amount of profit and expenses of the enterprise.
- Audit report — needed to confirm the current financial condition of the company and is submitted along with the annual report;
- Tax return - submitted by legal entities before the 20th of each month.
How can our company help?
Opening a company on your own in Poland entails significant financial and time costs. Therefore, to successfully open a company in Poland, you need to contact proven specialists - the law firm Jurisprudential LTD. Our team understands all the practical nuances of opening legal entities abroad, since we have many years of experience in implementing these issues. By contacting us, you can urgently open a company in Poland, since the result is guaranteed!