Company registration in Poland: Step-by-step guide

Poland is one of the most attractive countries in Europe for doing business. Its economic stability, favorable geographical location and favorable conditions for entrepreneurship attract more and more foreign investors.

Why Poland?

Before moving on to the practical aspects of company registration, it is worth noting why Poland has become such a popular place for business:

  • Membership in the European Union, which opens the door to a huge market and many opportunities for expansion.
  • Poland’s tax system is quite flexible and offers a number of benefits for new companies.
  • The relatively low cost of doing business and the highly skilled workforce make Poland an ideal place to start a business.

The main stages of company registration

The registration of a company in Poland includes several key steps that must be completed in order to officially start its activities:

  1. The choice of the organizational and legal form. The most popular forms are a limited liability company (LLC) and a joint-stock company (JSC). LLC is suitable for small and medium—sized businesses, whereas JSC is suitable for large companies.
  2. Preparation of constituent documents. This includes the company’s articles of association, the decision to establish the company, as well as other documents required for registration.
  3. Registration in the National Judicial Register (KRS). This is a mandatory stage at which the company receives its unique KRS number.
  4. Registration with the tax office. Here the company receives the NIP tax number and the REGON statistical number.
  5. Opening a bank account. To conduct financial transactions, the company must have an account with a Polish bank.

Possible difficulties during registration

Despite the relative simplicity of the process, company formation Poland can be accompanied by a number of difficulties.

  • The language barrier. All documents must be prepared in Polish, which can cause difficulties for foreign entrepreneurs. Incorrect translation of documents or errors in legal terminology can lead to delays in registration and additional costs. In this case, it is recommended to contact professional translators or consultants.
  • Compliance with local legal requirements. Polish legislation may differ from the laws of your country, and failure to comply with local regulations may result in fines and other penalties. For example, tax and accounting regulations in Poland may seem difficult for beginners. Misunderstanding of local laws and regulations can make it difficult to register and run a business.
  • Bureaucratic procedures. The registration process can involve many bureaucratic procedures, such as obtaining licenses and permits. This can take a considerable amount of time and require additional resources. In addition, different authorities may require different documents, which complicates the process and requires careful preparation.
  • Opening a bank account. Although opening a bank account is a mandatory step, some banks may impose strict requirements on new customers, especially if we are talking about foreigners. This may include providing additional documents or the personal presence of all the founders of the company, which is not always convenient.

Registering a company in Poland is a strategic step that can open up many opportunities for you in the European market. Despite a number of difficulties related to the language barrier and the need to meet local requirements, the right approach and the help of professionals can greatly facilitate this process.