Poland is a country that boasts one of the most stable political and economic situations in the entire eastern part of Europe. The business community associates it with a state of great opportunities. Business in Poland attracts low tax rates, and to open a company or a bank account you only need a foreign passport and 7-14 days. More about the advantages of registering a company in Poland read down below.
Reliable legal framework
Persons who have a permit to stay in the country, a valid Pole’s Card, a permanent residence permit, refugee status, or a person under protection. Bureaucratic procedures are reduced to a minimum, and the state is interested in the inflow of new capital and will comprehensively help the entrepreneur. Poland is a white jurisdiction under the OECD list of jurisdictions. Poland is not included in the FATF blacklist.
Residence permit in Poland for business
Opening a company gives the right to obtain a temporary residence permit (residence permit) in the territory of the Republic of Poland for the whole family.
You get the opportunity to keep assets in European banks, which are reliable and stable. There are no restrictions on conducting transactions in foreign currency. During Poland’s stay in the EU, only 1 small bank was liquidated, and compensation was paid to all clients.
Financial support for new investments. The presence of bonuses.
Investors who receive investment grants can also apply for other forms of support, such as tax exemptions in Special Economic Zones or local tax benefits, but the total amount of subsidies and other forms of state support cannot exceed the maximum allowable amount of support in this particular region for this investment project.
- Unsecured financing.
- Replenishment of working capital.
- The system of financial support for investment projects is important for the domestic economy.
- Short-term financing of current activities, optimization of payment terms, as well as cash flows associated with the import or export of goods and services.
- Financing is carried out with the participation of foreign banks and other financial institutions, using documentary instruments, mainly letters of credit and guarantees.
The Polish authorities encourage foreign investment in the country’s economy – tax incentives, special economic zones, grants – both from the state budget and the EU. The prerequisites for receiving grants are large investments, job security for the local population, and technological innovation.
Currently, there are 14 special economic zones in Poland (SEZ is an administratively allocated part of the Polish territory, in which more favorable conditions have been created for the development of enterprises) with a total area of over 6,000 hectares. The advantages are tax breaks – 50% exemption of the income tax rate for up to 10 years.
The maximum amount of support in the automotive sector. Investors who receive investment grants can also apply for other forms of support.
Even in the context of the global crisis, Poland remains economically stable and fulfills all the guarantees that business has. During the 2008 global crisis, Poland was the only EU member state whose economy showed no recession and whose banking sector was not affected.
VAT refund on overpayment and export. Depending on the deadline for submitting the VAT return, it is refunded two months after the application was submitted using the receipt of funds to the current account, without additional conditions. There is also the possibility of deferring the payment of VAT when importing goods into the customs territory of Poland (reference 33A). The maximum amount of support in the automotive sector, which is assigned to projects receiving more than 5 million euros in financial assistance, is equal to 30% of the amount of regional assistance.
Access to loans and subsidies for businesses
Preferential loans for new businesses are guaranteed through the Bank Gospodarstwa Krajowego. Factoring is a real tool for attracting credit funds. Loans in banks in Poland are given with an interest rate of 2% per year, it opens up the opportunity to receive grants and subsidies from the EU for business development.
Access to the European market
Poland is the sixth-largest market in the EU and 33rd in the world. Foreign enterprises are equal in rights to national ones. The company, which is based in Poland, has the right to legally operate in other EU states.
The advantageousness of the territorial position of Poland
The trade business in Poland is thriving thanks to the country’s favorable transit location. The country has access to the Baltic Sea (links with the Scandinavian countries) and a long border with the largest EU economy – Germany.
Cheap labor market
About 50% of Poles are in the “under 35” age category. Polish labor, when compared with other EU countries, is cheaper for an entrepreneur and, at the same time, is not inferior in quality, which allows investors to significantly save money. There is no prerequisite for hiring Poles for leadership positions.
Loyal visa policy
Having a residence permit or permanent residence in Poland, you can visit the Schengen countries without a visa. And you can manage your business in Poland remotely. Our company will provide comprehensive support to your business.
Availability of a social state package (state guarantees and medical insurance including), practically equal to the citizens of Poland. And also given the right to buy a car with Polish numbers and registration for the company. You can work without any restrictions and permits throughout the country.
Affordable real estate
Low real estate prices attract investment in this area and provide an opportunity to get good interest rates. There are no legal prohibitions on the acquisition of all types of real estate.