Poland – Company Formation and Corporate Services

March 3, 2020
Poland – Company Formation and Corporate Services

Poland is the 6th largest country and 5th most populated country in European Union, as well as 8th country when it comes to gross domestic product, otherwise known as GDP. Beside this, Poland is rated as 40th country in the world by The World Bank for doing business. All of this indicated that Poland represent excellent market to grow your business. Poland is a Member state of European Union, OECD and Visegrad Group.

Company Formation Services

Polish legislation provides for a fairly wide range of legal forms for doing business, however, according to our specialists, the Limited Liability Company is the most convenient and suitable for a foreign founder (Spółka z o. о.).

What is important to know is that it is possible to complete this process remotely, without your presence. Company formation procedure in Poland is completed within 3 to 7 working days. However, to open a bank account for newly founded company, a personal visit of the Director is necessary.

Corporate Service

Beside company formation, Asst Office provides you with additional corporate services such as:

  • Accounting Services
  • Preparation of Annual renew of the company (Chamber of commerce) and Annual Financial Statements
  • Virtual Office and registered address in Poland
  • Registration and receipt of the EORI number (for conducting foreign economic activity)
  • Registration of Value Added Tax (VAT)
  • Tax residence certificate
  • Oral translation and support

Important Taxes and Contributions

Taxes always represent one of the most important parts of operation a business. That is why it is always good to know the rates of those taxes that will affect your business the most:

  1. Corporate Tax Rate – 19%
  2. Personal Income Tax Rate – 32%
  3. Value Added Tax Rate – 23%
  4. Reduced Value Added Tax Rate – 0 to 8%

Beside taxes, second important part are contributions. Mostly they refer to social contribution rated in total at 44.69%, and they are imposed both on employee and employer:

  1. Social Security Rate for Companies – 21.98%
  2. Social Security Rate for Employees – 22.71%

If you are interested in starting a business venture in Poland, or you need assistance regarding company formation or you need some other corporate service in Poland, contact Asst Office today.