Poland is located in Central Europe, between Germany, the Czech Republic, Ukraine, Belarus and Lithuania.
The economy of Poland is the sixth largest in the EU. Since 1990, the country has maintained a policy of financial liberalization that has helped its economy during the 2008-2009 general financial downturn. The country specialises on machinery, electronic equipment, vehicles, furniture, and plastics export.
What about offshore company formation in Poland?
If you’re a foreign citizen who wants to make use of the same rights as Polish citizens in terms of opening and developing a company in Poland, you’ll have to obtain a local permanent residence visa. You might consider doing that, because it will truly offer you a wide range of business opportunities and types of legal entities to choose from.
The types of Polish companies are analogous to other European countries. Polish company formation requires the presence of a local registered office.
There are two types of corporations available: the limited liability company and the joint-stock company.
The Limited Liability Company:
- is abbreviated as “sp. z o.o.”;
- requires a minimum share capital of 5 000 PLN;
- can be divided into shares of equal or unequal value;
- is the most common form of legal entity;
- is the most accessible form for any kind of activity;
- requires the payment of income tax and VAT;
- the shareholders are not liable for the company’s obligations;
- the shareholders can be natural, legal or organizational entities.
The Polish Joint-Stock Company:
- is mainly destined for large businesses;
- requires a minimum share capital of 100 000 PLN;
- has to be registered at the National Court Register;
- can be founded by one or more entities;
- is a VAT and corporate tax payer;
- requires a management board, and an additional supervisory board.
Now what’s the whole application process that will lead you to your brand new Polish offshore company?
First of all, you should submit the following Limited Liability Company documentation to the Register Court:
- Public Deed of Incorporation executed before a notary;
- declaration stating that cash contributions have been made to the company on registration;
- evidence of appointment of the first officers of the company;
- statement of the shareholders, specifying the full names of individual shareholders;
Joint-Stock Companies must additionally submit:
- full name of the Members of the Supervisory Board and their signatures made in the presence of a notary;
- future notice of reaching or loosing dominant position in Joint-Stock Company;
You might also think about the restrictions on trading or any additional documentation you’ll need to freely operate within your niche. Polish licenses are required for the exploration of minerals, manufacturing and trading in explosives, fuels and energy, protecting persons and property, air transportation, banking, insurance, fund management or any other activity that would suggest an association with the banking or finance industries.
To cut a long story short, Poland can become the welcoming home for your offshore company, a place where your investments mean something and your money are spent on business development, not tons of taxes!
Sounds tempting? Feel free to contact Bizonaire and be sure we’ll help you set up YOUR unique offshore business as soon as possible!
