The most popular way to set up a base for investments in Poland is through a Poland Limited Liability Organization. The Polish LLC is responsible for all of its liabilities, mortgages, and court decisions because it is a distinct statutory body. The accountability of the stockholders is restricted to the shareholding they have contributed. In an LLC, expatriates may own all of the assets. A Poland Limited Liability Firm has one stockholder, one manager, and 100% overseas investment. Low share capital is needed to form an LLC.
Incorporation of LLC
Since March 31, 2009, new rules governing incorporation with the National Judicial Record have made it simpler to establish a Polish entity. Any businessperson can establish a limited liability corporation in Poland by providing the necessary paperwork and funds. The steps required to register the LLC are as follows.
- Creating the articles of association
Executing the memorandum of formation, or in the event of a single limited liability company, signing the document of establishment is the first step in creating an LLC.
A trip to the notary’s department is required because the limited liability business’s certificate of incorporation or document of the establishment must be drafted in the guise of a notarization act.
- Share capital submission
Providing payments to the Polish limited liability company’s equity is the second step. A payment often means making a suitable financial transfer into the business’s checking account. However, it could also mean giving the firm access to real estate or mobile assets, based on the founders’ accord.
- Hiring the executive board
The election of the governing council is the third step in the formation of a Polish corporation. This can be done by passing a proposal at the annual stockholders’ conference. To do this, a general shareholders meeting must be called. A regular authored version of the minutes from the overall investor conference is acceptable; a notary stamp is not necessary.
- File a registration application
The limited liability firm’s registration in the Federal Corporate Registry KRS is the fourth stage. This is done by submitting a request to register the firm together with all necessary documents to the Registration Division of NCR.
Required documents
You will typically need the following to form a company in the country:
- Owner’s identification papers;
- Business management details;
- Bank statements;
- Proof of submission of capital amount; and
- Commercial activities.
- Acquire other certificates
The registration of a company in various records, receiving specific documents, or acquiring licenses to carry out particular operations is the fifth step of the establishment of a limited liability corporation. For instance, you need to obtain food, hygiene, and liquor licenses before starting an LLC that does food-related operations.
Actions after registration
The owner must physically visit the Tax department with authority over the trade entities within 2 weeks after the Central Judicial Registry issued the document of incorporation and submit an application for a tax id.
Getting the NIP and VAT identification is the next stage in the process. The owner must file a request, which must be dropped off to the revenue authorities, to get a tax id code. There is no tax payable on the NIP’s issuing.
The method for registering a limited liability corporation in Poland in 2022 also includes the founders opening a current checking account. A bank account request paper must be presented together with personal papers, a confirmation of entrance into the KRS, and a document providing a tax ID number.
Every owner is required to submit state pension and/or healthcare insurance charges and must submit a document to ZUS within seven days of the date on which commercial operations began. Within 1 month of the start of the enterprise, the business is also required to provide notice to the State Hygiene Administration regarding the site, and the number of workers.
