Introduction

Poland is one of the fastest growing economies in the EU. It's also a low-tax country and has skilled labour, which makes it an attractive place to set up a business. In this article we'll look at how you can start a company or open an office in Poland, from registering with the tax authorities to applying for a business bank account.

Poland is the biggest economy in Central Eastern Europe

You should consider setting up your business in Poland for several reasons. First and foremost, it's the biggest economy in Central Eastern Europe. Poland has a population of 38.5 million and an annual GDP growth rate that was over 4% between 2015 and 2016--the fastest among all European Union countries (source).

Second, Poland is a low-tax country: corporate tax rates are only 19%, while personal income tax rates range from 18% to 32% depending on how much money you make (source). Finally, there are many incentives for foreign investors who want to start businesses here; these include reduced VAT rates and other benefits such as free land leases or rent subsidies for new enterprises located outside urban areas (source).

The Polish economy is growing fast

There are many reasons for setting up a business in Poland, but one of the most important is that it's a member of the European Union. The EU has been around since 1993, and as such has helped to create a single market where goods can be traded freely between member states. This means that if you set up an office or factory in Poland and sell products within Europe (or even outside it), there are fewer barriers to entry than there would be if your business was based elsewhere.

Another reason why it makes sense to establish yourself in Poland is that its economy is growing faster than most other European countries'. The country's GDP per capita has doubled since 2000, while unemployment rates have fallen significantly during this period too--from 16% down towards 7%. In fact, according to forecasts from Investopedia Research Team members at Thomson Reuters I/B/E/S (TRI), these trends aren't expected change much until 2021 when TRI predicts GDP growth slowing slightly but still remaining over 4%.

Foreign investors are welcome

Foreign investors are welcome in Poland and can set up a company or buy a business. They can also buy houses, land and other real estate properties.

Foreign investors who want to establish their own companies in Poland have several options available:

●     They can create one from scratch by registering it with the local authorities; or

●     Buy an existing Polish company or merge with it; or

●     Take over the management of an existing Polish firm through acquisition of shares by buying them out (eg 100%).

Poland has a good transport network

Poland has a good transport network. The country's well-developed rail network and road system make it easy to get around, while there are also international airports in Warsaw and Gdansk.

The port of Gdansk is one of Poland's biggest ports and is part of the Baltic Sea Terminal, which links Scandinavia with Central Europe via railroads and barge routes.

Poland is a low-tax country

Polish tax rates are low, lower than in other EU countries, and lower than in the UK. The Polish corporate income tax rate is just 19%. This is a fraction of the typical 35% rate in the US and Australia, or even 23% for British companies.

Poland's personal income tax rate is also very competitive: 15% for most people (20% for higher earners). That's lower than anywhere else except Ireland (12%), Bulgaria (10%), Romania (16%) and Lithuania (20%).

Poland has skilled labour and a well-educated population

Poland is also home to a well-educated population. The country has one of the best education systems in Europe, and its healthcare system ranks among the continent's best.

Poland has long been known for its skilled labour force and has become an attractive destination for outsourcing companies looking to relocate their operations there.

A wide range of companies are setting up in Poland.

There are many reasons why you should set up your business in Poland.

●     A wide range of companies are setting up in Poland. The country has become one of the most attractive places for foreign investors, who have been attracted by its stable economy and favorable conditions for doing business.

Some examples include: Amazon is expanding its operations and plans to open a new logistics center in Wroclaw; Google is opening an AI center in Warsaw; BMW announced plans to build a factory near Poznan that will employ around 3,000 people; Apple has announced construction of its first European data center near Pruszkow with plans for it to be operational by 2020.

What are the requirements to set up a business in Poland

●     What are the requirements to set up a business in Poland?

●     How do I register my company or partnership?

●     Are there any taxes on profits, dividends and interest paid to non-residents of the EU?

Can non-residents set up a business in Poland

Yes, non-residents can set up a business in Poland.

You will need to be a citizen of a country that has a treaty with Poland. You don't even have to live in Poland!

Other requirements are:

●     You must have access to Polish bank account(s) and open one if necessary.

●     The person who will run the business has sufficient funds at hand (e.g., your own savings).

Can non-residents apply for a business bank account in Poland

You can apply for a business bank account in Poland. However, you will need to provide the bank with a Polish address and telephone number. You will also need to provide them with your personal tax number (NIP) or social security number (PESEL).

Conclusion

We hope that this article has given you some insight into the reasons why it may be worth setting up a business in Poland. The country has so much to offer and its economy is growing fast. If you are thinking of starting up your own company, then we would highly recommend looking into the Polish market as an option!

Please note that a jurisdictions’ requirements may change from time to time. Please contact us for current requirements in this jurisdiction.