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Poland

General Information

Area – 312, 679 sq. km

Population – 38,623,221 people

Capital – Warsaw

Official language – Polish

Official currency – Polish Zloty (PLN)  

Key Aspects

The official name is the Republic of Poland. It is a country in Central Europe. The country is a member of the EU which opens for companies all the possibilities given to the EU countries. Poland is a member of the European Union, European Economic Area, World Trade Organisation and the Organisation for Economic Cooperation and Development. Poland also signed the Kyoto Protocol, Washington Convention, Basel Convention, Montreal Protocol, and the International Coffee Agreement 2001.

Company Type

Closed Limited Liability Company (sp.z.o.o)

Corporate Legislation

The existing system of trade companies in the Republic of Poland is based on:

Law of 15 September 2000 Commercial Companies Code

Law of 27 July 2002 Monetary Law

Law of 29 August 1997 Tax Regulations

Law of 08 January 1993 On the Goods and Services Tax and the Excise Tax

Main Requirements for Company Directors and Shareholders

There should be at least one director who may be a natural person. There should be not less than one company shareholder – a natural person or a legal entity. They may be residents of any country.

* The registered office and address must be in Poland.

Information about the directors, shareholders is kept in the register.

Authorised Capital

Closed Limited Liability Company (sp.z.o.o) – PLN 5,000

Accounting

All companies incorporated in Poland must meet standard requirements set in relation to annual accounting statements which consist in the mandatory maintenance of accounting records and making of annual accounts regarding financial activity.

Annual accounts (Drawing up and filing of accounts – on request)

Maintenance of accounting records from EUR 250 per month

VAT number maintenance from EUR 100 per month

Taxation

Value added tax – 23%

Corporate tax – 19%

Dividend tax – 19%

Questions that need to be answered to prepare the incorporation documents

  • Passport details of the founders
  • Passport details of the directors
  • Photocopy of the ID pages of the founders’ and director’s international passports
  • Types of the firm’s activity
  • Utility Bill of the directors and founders, current email addresses and phone numbers
  • Several proposed firm names