Business establishment BUSINESS IN poland Project
Description: Business establishment BUSINESS IN poland Project Welcome to the business land, LT-PL-2S-190 Establishing a business presence in poland The legal forms of doing business in Poland available to Polish and foreign investors are as follows:
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slide1. Business establishment BUSINESS IN poland Project “Welcome to the business land“,
LT-PL-2S-190<br>
slide2. Establishing a business presence in poland The legal forms of doing business in Poland available to Polish and foreign investors are as follows: • a limited liability company (spółka z ograniczoną odpowiedzialnością – sp. z o.o.) • a joint-stock company (spółka akcyjna – S.A.) • a European Company (Societas Europea) (Spółka Europejska – SE) • a general partnership (spółka jawna – sp.j.) • a limited liability partnership (spółka partnerska – sp.p.) • a limited partnership (spółka komandytowa - sp.k.) • a partnership limited by shares (spółka komandytowo-akcyjna – S.K.A.) • a sole proprietorship (indywidualna działalność gospodarcza) • a civil law partnership (spółka cywilna) • a Branch of a foreign enterprise (oddział zagranicznego przedsiębiorcy)
Other investors (from third countries) may conduct their business under the same terms as Polish citizens provided that they hold specific permits to legalize their residence in Poland and allow them to conduct a business activity. Such investors may carry on their business exclusively by: • Establishing limited partnerships, partnerships limited by shares, limited liability companies and joint-stock companies; • Purchasing and acquiring shares in such companies and partnerships; unless international agreements provide otherwise.<br>
slide3. step-by-step overview of what you need to do to start your business in poland 5 key steps necessary to establish a fully operational limited liability company:
Registration for VAT purposes
Execution of lease agreement or acquisition of real estate The company needs to have a registered office in Poland. Therefore, it is important to have a legal title to some office space. The company may execute a lease agreement for its premises (or for a virtual office for the beginning of its business activity) or may acquire real estate. In case of long-term lease agreements it is necessary to have it properly prepared in order to avoid burdensome provisions that cannot be changed later on
Registration in the Polish Court Register The next step required for the company to become fully operational is a registration with the Polish Court Register. In order to do that a motion should be prepared together with certain attachments and filed with the registry court. Registration by the registry court entails registration for tax purposes and in the Statistical Office
Opening a bank account
Preparation of Articles of Association in a form of notarial deed The Articles of Association have to include some basic information about the company indicated in the Code of Commercial Companies such as: business name, registered office, scope of business activities, the amount of share capital (minimum PLN 5000), nominal value of shares, number of shares taken up by the shareholders, the term of the company if it is defined. To the remaining extent provisions of the Code of Commercial Companies are applicable. However, much of them may be amended by the Articles of Association, therefore, it is crucial to discuss the scope and wording of the Articles of Association with the investor to made them tailormade
The registration for VAT purposes<br>
slide4. step-by-step overview of what you need to do to start your business in poland Polish law stipulates two ways of establishing a LLC:
By execution of the AoA in front of a notary public
By execution of the template of the AoA available through an IT system (via Internet)
This article refers to the standard way of LLC’s establishment by executing the AoA in front of a notary public (no. 1 above). Only this way enables the Shareholder(s) to prepare tailor-made AoA for the intended business activity. Concluding the AoA via special IT system (no. 2 above) does not allow to adopt every wording of the AoA but limits the wording to certain options only. These few options of the AoA wording may not be adequate for business activity intended by the Shareholder(s) and corporate governance rules adopted in the Shareholder(s) group. Additionally, in case of establishing the LLC via option no. 2 only cash contributions are allowed. Taking into consideration these limitations relating to option no. 2, foreign entrepreneurs wishing to establish their business presence in Poland often choose to execute the AoA before a notary public which gives them broader flexibility in terms of AoA wording.<br>
slide5. step-by-step overview of what you need to do to start your business in poland<br>
slide6. Starting a business in poland – procedure, time and cost Source: World Bank Report Doing Business 2018 Poland<br>
slide7. Phase 1: preparatory phase of starting business in POLAND<br>
slide8. Phase 1: preparatory phase of starting business in POLAND<br>
slide9. Phase 3: execution phase of starting business in POLAND<br>
slide10. Special economic zones Poland has become a real magnet for investors – both nationally and internationally – mainly as a result of the incentives and SEZ allowances it offers investors. SEZs recently celebrated their 20-year anniversary. During this time, their impact has been significant. By 2012, SEZs had generated over EUR20 billion in total value investments and created over 186,000 jobs. They had transformed Poland and its economy into an attractive investment destination for foreign capital, which supported its transition to democracy.
The figures that the Polish parliament published in 2016 confirm the significant regional impact of the different SEZs. “At the end of 2016 the companies operating in Polish SEZs had 2,263 permits to conduct business activity within that year. The Ministry of Development estimated that in 2017, 14 SEZs may have attracted EUR5 billion in investments with 16,000 jobs. At the same time, every fifth project is implemented by a small or medium-sized company.”<br>
slide11. BUSSINESS CLIMATE: Real GDP<br>
slide12. BUSSINESS CLIMATE: EXPORTS OF poland<br>
slide13. BUSSINESS CLIMATE: Inward foreign direct investment by country (EUR million)<br>
slide14. BUSSINESS CLIMATE: average hourly wage<br>
slide15. BUSSINESS CLIMATE: consumer prices<br>
slide16. BUSSINESS CLIMATE: uneployment rate<br>
slide17. Monthly rental of office space (EUR m2)<br>
slide18. monthly rental of warehouse space (EUR m2)<br>
slide19. Utility Costs (EUR, excl. VAT)<br>
slide20. sources EY. Doing Business in Poland, 2017.
Polish Agency for Enterprise Development https://www.parp.gov.pl/
PricewaterhouseCoopers UAB. Doing Business in Poland, 2017.
World Bank. Doing Business Poland, 2018.<br>
slide21. About the project
The project “Welcome to the business land“ (LT-PL-2S-190) is aimed at showing the border region youth that Business can be simple, if you have a good idea, some support from professionals and general knowledge on business processes. During its implementation, it is planned to organize business leader’s competition and International Economic Forum and to activate partnership of project beneficiaries and social partners (schools, business companies, professional development centers).
This training material has been produced with the financial assistance of the European Union. The contents of this training material are the sole responsibility of PI PVC and “Euroregion Niemen” Association and can under no circumstances be regarded as reflecting the position of the European Union.
Total projects size is 49 973, 25 EUR. Out of them co-funding of European Regional Development Fund is 42 477,25 EUR. www.bonusLT-PL.eu This project is Partly financed from the European Regional Development Fund
Interreg V-A Lithuania-Poland cooperation programme<br>
LT-PL-2S-190<br>
slide2. Establishing a business presence in poland The legal forms of doing business in Poland available to Polish and foreign investors are as follows: • a limited liability company (spółka z ograniczoną odpowiedzialnością – sp. z o.o.) • a joint-stock company (spółka akcyjna – S.A.) • a European Company (Societas Europea) (Spółka Europejska – SE) • a general partnership (spółka jawna – sp.j.) • a limited liability partnership (spółka partnerska – sp.p.) • a limited partnership (spółka komandytowa - sp.k.) • a partnership limited by shares (spółka komandytowo-akcyjna – S.K.A.) • a sole proprietorship (indywidualna działalność gospodarcza) • a civil law partnership (spółka cywilna) • a Branch of a foreign enterprise (oddział zagranicznego przedsiębiorcy)
Other investors (from third countries) may conduct their business under the same terms as Polish citizens provided that they hold specific permits to legalize their residence in Poland and allow them to conduct a business activity. Such investors may carry on their business exclusively by: • Establishing limited partnerships, partnerships limited by shares, limited liability companies and joint-stock companies; • Purchasing and acquiring shares in such companies and partnerships; unless international agreements provide otherwise.<br>
slide3. step-by-step overview of what you need to do to start your business in poland 5 key steps necessary to establish a fully operational limited liability company:
Registration for VAT purposes
Execution of lease agreement or acquisition of real estate The company needs to have a registered office in Poland. Therefore, it is important to have a legal title to some office space. The company may execute a lease agreement for its premises (or for a virtual office for the beginning of its business activity) or may acquire real estate. In case of long-term lease agreements it is necessary to have it properly prepared in order to avoid burdensome provisions that cannot be changed later on
Registration in the Polish Court Register The next step required for the company to become fully operational is a registration with the Polish Court Register. In order to do that a motion should be prepared together with certain attachments and filed with the registry court. Registration by the registry court entails registration for tax purposes and in the Statistical Office
Opening a bank account
Preparation of Articles of Association in a form of notarial deed The Articles of Association have to include some basic information about the company indicated in the Code of Commercial Companies such as: business name, registered office, scope of business activities, the amount of share capital (minimum PLN 5000), nominal value of shares, number of shares taken up by the shareholders, the term of the company if it is defined. To the remaining extent provisions of the Code of Commercial Companies are applicable. However, much of them may be amended by the Articles of Association, therefore, it is crucial to discuss the scope and wording of the Articles of Association with the investor to made them tailormade
The registration for VAT purposes<br>
slide4. step-by-step overview of what you need to do to start your business in poland Polish law stipulates two ways of establishing a LLC:
By execution of the AoA in front of a notary public
By execution of the template of the AoA available through an IT system (via Internet)
This article refers to the standard way of LLC’s establishment by executing the AoA in front of a notary public (no. 1 above). Only this way enables the Shareholder(s) to prepare tailor-made AoA for the intended business activity. Concluding the AoA via special IT system (no. 2 above) does not allow to adopt every wording of the AoA but limits the wording to certain options only. These few options of the AoA wording may not be adequate for business activity intended by the Shareholder(s) and corporate governance rules adopted in the Shareholder(s) group. Additionally, in case of establishing the LLC via option no. 2 only cash contributions are allowed. Taking into consideration these limitations relating to option no. 2, foreign entrepreneurs wishing to establish their business presence in Poland often choose to execute the AoA before a notary public which gives them broader flexibility in terms of AoA wording.<br>
slide5. step-by-step overview of what you need to do to start your business in poland<br>
slide6. Starting a business in poland – procedure, time and cost Source: World Bank Report Doing Business 2018 Poland<br>
slide7. Phase 1: preparatory phase of starting business in POLAND<br>
slide8. Phase 1: preparatory phase of starting business in POLAND<br>
slide9. Phase 3: execution phase of starting business in POLAND<br>
slide10. Special economic zones Poland has become a real magnet for investors – both nationally and internationally – mainly as a result of the incentives and SEZ allowances it offers investors. SEZs recently celebrated their 20-year anniversary. During this time, their impact has been significant. By 2012, SEZs had generated over EUR20 billion in total value investments and created over 186,000 jobs. They had transformed Poland and its economy into an attractive investment destination for foreign capital, which supported its transition to democracy.
The figures that the Polish parliament published in 2016 confirm the significant regional impact of the different SEZs. “At the end of 2016 the companies operating in Polish SEZs had 2,263 permits to conduct business activity within that year. The Ministry of Development estimated that in 2017, 14 SEZs may have attracted EUR5 billion in investments with 16,000 jobs. At the same time, every fifth project is implemented by a small or medium-sized company.”<br>
slide11. BUSSINESS CLIMATE: Real GDP<br>
slide12. BUSSINESS CLIMATE: EXPORTS OF poland<br>
slide13. BUSSINESS CLIMATE: Inward foreign direct investment by country (EUR million)<br>
slide14. BUSSINESS CLIMATE: average hourly wage<br>
slide15. BUSSINESS CLIMATE: consumer prices<br>
slide16. BUSSINESS CLIMATE: uneployment rate<br>
slide17. Monthly rental of office space (EUR m2)<br>
slide18. monthly rental of warehouse space (EUR m2)<br>
slide19. Utility Costs (EUR, excl. VAT)<br>
slide20. sources EY. Doing Business in Poland, 2017.
Polish Agency for Enterprise Development https://www.parp.gov.pl/
PricewaterhouseCoopers UAB. Doing Business in Poland, 2017.
World Bank. Doing Business Poland, 2018.<br>
slide21. About the project
The project “Welcome to the business land“ (LT-PL-2S-190) is aimed at showing the border region youth that Business can be simple, if you have a good idea, some support from professionals and general knowledge on business processes. During its implementation, it is planned to organize business leader’s competition and International Economic Forum and to activate partnership of project beneficiaries and social partners (schools, business companies, professional development centers).
This training material has been produced with the financial assistance of the European Union. The contents of this training material are the sole responsibility of PI PVC and “Euroregion Niemen” Association and can under no circumstances be regarded as reflecting the position of the European Union.
Total projects size is 49 973, 25 EUR. Out of them co-funding of European Regional Development Fund is 42 477,25 EUR. www.bonusLT-PL.eu This project is Partly financed from the European Regional Development Fund
Interreg V-A Lithuania-Poland cooperation programme<br>