Business Setup in Poland for Foreigners
If you are in Poland and have any legal status even student residence permit or pr or EU long term residence or you are a spouse of polish citizen you can allow opening your company in Poland and starting you business in Poland. if you are looking for company opening related process, cost, requirement and other related information of limited liability company (Sp. z o.o.), then this blog post may helpful for you to go through.
Company Registration Fee
To start this process from the beginning register your company and here is the rough sum cost for you when you register your company in Poland
Registration in the National Court Register (KRS): around 600 PLN.
500 PLN for online registration (or 600 PLN for paper registration).
100 PLN for the announcement in the Court and Economic Monitor (Monitor Sądowy i Gospodarczy).
Notary Fees
The fee for preparing a notarial deed for the articles of association may vary but typically ranges from 300 PLN to 1,000 PLN, depending on the share capital and notary.
Author advice for you
There are many companies that offer you this service you can easily find less expensive company that help you to prepare notorial deed for you and in Poland language you can called them notorious.
Share Capital Requirement for Sp. z o.o,
The minimum required share capital for you limited liability company (Sp. z o.o.) is 5,000 PLN. Remember that this amount must be deposited into the company’s account as an assets of you company and it will remain in your company account without any deductions. This is kind of your company net capital of assets of the company.
Legal and Accounting Fees
If you hire professionals to assist with the company setup, the legal fees could range from 1,000 PLN to 3,000 PLN or more.
Monthly accounting services typically start from around 300 PLN and go higher depending on the business size and complexity. That’s mean if your business is not very broad and do not have much Invoice or in polish you can call this “Faktury” or other documents that need to prepare by your accountant or “księgowy” then your accountant will charge less. So its depend on your business worth and financial activities.
Virtual Office or Physical Office Space (optional):
Virtual office services in Poland can cost between 100 PLN to 500 PLN per month, depending on the location and service package.
Author advice for you
There are many companies that offer you a complete package form opening a company which include virtual address, help with opening business account and other related services e.g. managing account service etc. it would be best for you to avail their service if you want to avoid from any headache.
Renting a physical office varies widely depending on the city and space, ranging from 1,000 PLN to 5,000 PLN per month for small office spaces in major cities.
Overall Costs in Rough Sum
Basic costs (registration + notary): Approximately 900 PLN to 1,600 PLN.
Additional costs (legal, accounting, office): Highly variable, but initial setup services could add another 2,000 PLN to 4000 PLN or more depending on the services chosen.
Author advice for you
If you don’t want to involved in such office work you can have option to buy a prepared company that mean company that is already ready but you have to do paper work and you will be given the company detail with all the credential and it will be ready to operation around 4 weeks approx. The cost of such company is also very but you have to keep in your mind around 4000-5000 zloty. There are many companies that offer you this service in Warsaw.
Required Steps for Foreigners to Start a Business
Get a PESEL number: You as foreigners may need to obtain a Polish PESEL (Personal Identification Number) if they intend to have official tax filings or need identification for business purposes. Without PESEL you cannot open company in Poland.
Author suggestion for you
You should go to local office with your passport and your house contract and get your PESEL. You will have to pay some fee to office or Urzad and get your PESEL. Remember that PESEL is key step for opening a company or doing any business in Poland.
Create Trusted Profile: you have to create your trusted profile or in polish you can call this “Profil zaufany” with you email and phone number.
Author advice for you
Buy a polish number from local store which you need to get code when you active your trusted profile. When you create your profile online then you need to have two ways either through your bank account e.g. Santander, Millennium, Bank Pekao, PKO Bank, mBank, ING Bank etc. if you don’t have bank you have to create simply with email and phone and visit you URZAD in Warszawa located to you and get confirmation of this profile. Don’t worry when you go to office it will take only 5-10 minutes. Find urzad in Warsaw
Register the company: Foreigners can register their business online via the Central Registration and Information on Economic Activity (CEIDG) for sole proprietorships or the National Court Register (KRS) for companies like Sp. z o.o.
Open a business bank account: Opening a business account in a Polish bank is necessary, particularly for depositing share capital if forming a limited liability company.
Author suggestion for you
When you take serivce from company or get a prepared company then they will also help you with openning a buisness account for your company. while if you do it by yourself you need to do alot of paper work and it would be hard espeically when you do not speak polish and also not familiar with polish system.
Tax Identification Number (NIP): Your Businesses or company must get a NIP from the Tax Office for tax purposes.
What are the Taxes in Poland?
Corporate Income Tax (CIT): Foreigners must pay Polish corporate taxes if their company is registered or operates in Poland. The standard CIT rate is 19%, with a reduced 9% rate for small businesses (those with annual turnover below 2 million Euros).
Author advice for you
When you open your company then you should try to open with a partner even a partner with 10 percent share because when you open a company alone you have to pay more tax or specific amount of tax every month but if you have partner you will have some relaxation with paying this specific tax.
VAT: Just like other country Poland also have a standard VAT rate is 23%, although some goods and services are taxed at lower rates (8%, 5%, or 0%).
Social Security Contributions: If you hire employees, you’ll also need to comply with social security and health insurance contribution regulations.
Disclaimer: the blog is only for education purpose and the information we provide here is based on our experience and for exact information we suggest you to check the official source.
