Poland 

Description

Poland is a comfortable country for living and doing business with its advantages in taxation system, company administration and low expenses for establishment of a new business.

Poland offers optimal conditions for developing business and promoting it in Europe.

General information about LLC (sp.z.o.o.) in Poland

A limited liability company (spolka z ograniszona odpowiedzialnoscia, sp. z o.o. in Polish) may be founded by one or more shareholders and may be fully owned by a non-resident investor. Minimum share capital is 4000 PLN and may be paid with cash.

Registered share capital must be fully paid before company registration. A limited liability company must appoint a board of directors and hold meetings of shareholders annually. If the initial share capital is more than 25 000 PLN, and the number of shareholders is more than 50, a monitoring board of at least three people must be appointed.

UniverseLAW offers full range of professional services, associated with business organization in Poland:

  • preparation and submission of the documents, required for business registration in Poland;
  • legal address;
  • preparation and filing of documents for company registration as a tax payer;
  • arrangement of visits and accompanying clients for the notary office visits;
  • assistance in opening a bank account.

Advantages

• Poland has signed The Hague Convention Abolishing the Requirement of Legalisation for Foreign Public Documents of 1961;
• Double taxation agreements with many countries;
• fixed tax rates;
• Favorable geography of the country: it is in the centre of Europe, joining Western and Eastern Europe;
• nonresidents may be founders in Polish LLC;
• appointment of Secretary is not required;
• shares may be both registered and preferred.

Taxation

Poland has signed double taxation agreements with more than 80 countries.

Taxes in Poland:

Polish taxation system has changed a lot in recent years. The aim of those changes is to make taxation system more flexible according to tax systems of European countries. Taxes after company formation in Poland will be:

– income tax (not depending on the place of business)
– corporate tax at a rate of 19%.

Accounting

Companies in Poland submit reports after three months from the end of accounting period. Documentation must be officially audited.

Documents

List of required documents for registration and time frames
1) Notarized pre-incorporation agreement;
2) The board’s statement about the company’s capital being fully paid;
3) List of members of the company

Time required for company formation:
7-10 working days

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