Establishing a Company in Poland

The Republic of Poland is a country in central Europe bordered by Germany and the Czech Republic to the west, Slovakia to the south and Ukraine, Belarus and Lithuania to the east. Poland possesses a relatively long coastline to the shores of the Baltic Sea. The country has a long and rich history, going back over 1,000 years, with a golden age in the 16th century, at which time it was considered one of the strongest and wealthiest nations on the continent.

After World War II, in which Poland was conquered first by Germany and then by Russia, the country became a protectorate of the Soviet Union. During the first free elections ever to take place in Poland in 1989, as the Communist Bloc began to crumble, the anti-communist Solidarity Movement, led by Lech Walesa, swept the elections, delivering a crushing defeat to the Communist Party. From that point onward, Poland has been making great efforts to develop a free market economy and to encourage foreign entrepreneurs to invest in the country, with the goal of restoring its status as one of Europe's leading nations.

Poland's population numbers roughly 38.5 million people, with a GDP of $29,307 per person that is ranked 68th in the world.

  • The Israeli delegation to Warsaw that was established on September 26, 1948, was Israel's first diplomatic mission anywhere in the world.
  • The Polish astronomer Nicolaus Copernicus, who lived between the years 1473 and 1543, is the great thinker who theorized and provided scientific foundation for the heliocentric model in which the sun sits at the center of the solar system, and not the earth, as was previously believed. This model serves as the basis for all of modern astronomy.
  • Poland boasts 8 Nobel Prize winners over the years, with 4 in literature and journalism.

After Poland's exit from the Communist Bloc, significant steps were taken to liberalize the Polish economy, including: privatization of government companies; removal of barriers to establishing private companies; and additional measures aimed at attracting foreign investments and encouraging the formation of companies in Poland. The Polish economy is widely regarded as the leading and most progressive amongst the nations that previously made up the Communist Bloc.

The Polish economy bases itself on conventional industry and agriculture, where the industrial sector alone provides employment for over 26% of the Polish workforce, in particular: automobile manufacturing, mining, metals, chemicals and shipbuilding segments. The agricultural sector employs over 12% of the workforce, thus making the country one of Europe's largest food producers. Polish agriculture is largely based on crops such as wheat, rye and potatoes. Poland's government nurtures entrepreneurial activities in the IT sector, an endeavor that has helped the country attract tech giants such as: Amazon, Google, Samsung, IBM and others.

The Polish economy is considered to have substantial growth potential, offering investors a plethora of commercial and investment opportunity. This fact, combined with Poland's being a member state of the European Union and the availability of establishing companies in Poland, offering access to the European market, make the Polish market especially interesting to investors at the current time.

Mellius provides its clients with the option to establish companies in Poland in a fashion that optimally suites their business needs.

Polish Limited Liability Company (Sp. z o. o)

Minimum share capital of 5,000 EUR.

General Information


Type of company

Polish Limited Liability Company (Sp. z o. o)

Relevant Companies Law

The Code of Commercial Companies (Kodeks spółek handlowych) of 15 September 2000

Offices

Law requires companies to provide a local office address

Language of original incorporation documents

Polish

Finance and Taxation


Currency

Polish złoty (PLN)

Corporate tax rate

19% for all corporations. 9% for companies with annual turnover of less than 1.2 M Euro (beginning in January 2020, this tax rate will apply to companies with annual turnover up to 2 M Euro).

Standard share capital

Minimum share capital of 5,000 EUR

Office Holders


Company Secretary (Secretary)

 
Obligation to appoint company secretary

Not required

Obligation to appoint local secretary

Not required

Type of entity that may function as company secretary

Irrelevant

Director

 
Obligation to appoint company director

Required

Obligation to appoint local company director

Not required

Minimum number of directors

1

Type of entity that may serve as company director

Individual and/or company

Shareholders

 
Obligation to register shareholders

Required

Obligation to register local shareholders

Not required

Minimum number of shareholders

1

Type of entity that may register as shareholder

Individual and/or company

Type of shares

Registered shares and

Accessibility of Information


Company registrar

Information regarding office holders accessible to the public

Annual Assembly and Reporting


Obligation to hold annual assembly

Required

Obligation to prepare financial reports

Required

Obligation to submit financial reports

Required

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