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Company and bank account in Poland, your window to Europe

2018-10-23

Registering a company in Poland is a rational solution for many entrepreneurs. This is due to the economic stability in the country, providing great opportunities for business development. The state is often chosen to open companies, as it implies low tax rates.

The main advantages of this European country are a high-quality labor market, a developed infrastructure, and the absence of corruption. The country is quite loyal to foreign businessmen; therefore, you can open a bank account in Poland and run a legal business that is encouraged by the state.

The advantages of registering a company in Poland

Poland is often chosen for business by individuals from Ukraine, as well as the CIS countries. This is due to the fact that the state provides optimal conditions for the development of the company.

Advantages of the country:

• A reliable base of business law;

• Minimum financial threshold for entering the market - to open a business in the country, a small share capital is required;

• Ability to obtain a residence permit for all members of the family of an entrepreneur;

• Securing capital. A businessman gets access to the services of European banks, the main advantages of which are stability. There are no restrictions on operations with foreign currencies;

• Monetary support for new investments;

• Reliability of service of banks;

• Developed infrastructure that allows you to organize a business. In large cities there are airports, there are several seaports, a developed network of highways;

• Encouraging overseas investment;

• Economic stability.

The country has relatively low tax rates. Poland has concluded an agreement on the avoidance of double taxation with many countries. Possible exemption from local payments, as well as taxes on real estate. The country has low real estate prices, which is a significant advantage.

One of the main advantages of starting a business in Poland is access to the EU market. A company that has been established in the country can function legally in other EU countries. The country is favorably located - it has access to the Baltic Sea, and also borders with Germany.

In addition to the advantages, there are some disadvantages of running a business - so, the market is quite saturated and highly competitive, it can be difficult to open your own company, which will later develop.

Features of opening a bank account

In Poland, there are a significant number of banks; therefore, it can be difficult to decide which organization to choose for cooperation. When choosing an institution, it is recommended to first read the reviews on banks. Particular attention should be paid to the cost of maintenance, speed of transactions.

Banks of the country are quite loyal to foreigners, so it is possible to open an account. To speed up the procedure, you should prepare in advance for questions that may be asked in the institution:

• Information about parents;

• Information about the place of residence;

• Availability of work;

• Polish contact phone number.

In order to cooperate with the bank, an individual must first prepare a package of documents necessary for opening an account. The exact list is determined by the bank, but there are papers that any financial institution will require - a document confirming the legality of staying in the country, an international passport.

Due to the interest of the state in capital inflows, it is quite easy to open a business in Poland. To complete the work of the company requires opening an account. Compared to servicing individuals, the bank will need more documents to work with legal entities.

What information is needed to open an account by a legal entity:

• Company registration information;

• Copies of the company's charter;

• Details of the persons managing the account.

Most of the required documents must be notarized, may require translation into Polish. In order to combat the legalization of illegally obtained money, banks may require additional information, for example, confirmation of sources of income and other papers at the discretion of the financial institution.