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With real gross domestic product (GDP) growth of 5.1% in 2022, Poland is considered the growth engine of Eastern Europe. If you want to start a company in Poland, however, there are a few requirements you need to meet.
Setting up a business in Poland depends on the founders’ nationality and the type of company. We give foreigners from inside and outside the EU an overview of everything they need to successfully start a company in Poland.
Why start a company in Poland?
Poland continues to be seen as the economic engine of Eastern Europe. Experts expect the growth rate to recover in the short to medium term following the current stagflation (as of September 2023).
As one of the largest countries in Central and Eastern Europe and a member of the European Union, Poland plays an important role in the region and is attracting more and more foreign direct investment, rising from just under USD 15 billion in 2020 to over USD 29.46 billion in 2022.
The reasons for this increase are no surprise: Poland’s strategic location, a large population of over 41 million, its membership of the European Union, economic stability, a skilled workforce at competitive costs, an attractive tax system and dynamic special economic zones are all good reasons to invest in Poland.
The following information is for reference purposes only. We recommend working with a local auditor and tax advisor to make setting up your company as smooth as possible.
Starting a company in Poland as an EU, EFTA or US citizen
If you want to start a company in Poland as a foreigner, your nationality is decisive. Citizens of the EU, EFTA and the United States have an easier time setting up a company.
If you are a citizen of a member state of the European Union (EU) or the European Economic Area (EEA), the following options are open to you:
- Set up a sole proprietorship or a commercial company
- Provide cross-border services – without registering your business in Poland
- Set up a branch or subsidiary in Poland
Citizens of the USA and Switzerland can also set up a business, a commercial company, a branch or a representative office in Poland.
In addition, foreigners from other countries can start a company in Poland on the same terms if they meet further requirements. These include, among others, a permanent or humanitarian residence permit, refugee status, tolerated stay or being a family member of Polish or EU citizens, to name just a few.
Starting a company in Poland as a foreign national
If you don’t meet the requirements from the previous section, the challenges of expansion are greater. It is still possible, though more difficult, to start a company in Poland.
The following options are available to foreign nationals who want to start a company in Poland:
- A limited partnership
- A limited joint-stock partnership
- A limited liability company
- Purchasing a (simple) joint-stock company
- Purchasing shares in certain legal forms
- A branch
Individual points may differ depending on your country of origin. It is particularly worthwhile discussing your situation with local auditors, tax advisors or company formation agencies, so that you know all your options for a successful start in Poland.
Still looking for the right account for your expansion? Our tip: discover the benefits of a multi-currency account that simplifies international payments and reduces your costs efficiently.
What types of companies are there in Poland?
Poland offers a whole range of legal forms you can choose from for your company:
- Sole proprietorship (Działalność jednoosobowa): A sole proprietorship can be registered relatively quickly and without major financial outlay. With this type of company, entrepreneurs are liable with their personal assets.
- Civil law partnership (Spółka cywilna / sc): An agreement without its own legal personality between at least 2 natural or legal persons. The partners of a civil law partnership are liable with all of their personal assets.
- Limited liability company (sp. z o.o.): An sp. z o.o. is similar to a German GmbH and is the most commonly chosen legal form. The minimum share capital is PLN 5,000. The company has its own legal personality and offers limited liability for its shareholders.
- Joint-stock company (Spółka akcyjna / S.A.): A joint-stock company is a more complex legal form. The minimum share capital of a Polish joint-stock company is PLN 100,000, and a Polish notary is required to set it up. Your S.A. must also have 3 governing bodies: the management board, the general meeting of shareholders and the supervisory board.
- Simple joint-stock company (Prosta spółka akcyjna / P.S.A.): This is a simplified version of a joint-stock company that is particularly suited to start-ups and new founders. The minimum share capital is only PLN 1.00, with a lot of freedom in structuring the company’s capital.
- Limited partnership (Spółka komandytowa / sp.k.): The sp.k. is a partnership with general partners and limited partners, where at least one limited partner is liable up to a fixed amount.
- Limited joint-stock partnership (Spółka komandytowo-akcyjna / S.K.A.): This is a hybrid of a limited partnership and a joint-stock company.
- General partnership (Spółka jawna / sp.j.): An association of at least 2 partners without legal personality. All partners are liable, with claims first being settled from the partnership’s assets.
- Professional partnership (Spółka partnerska / sp.p.): An association of at least 2 partners practising liberal professions, including lawyers, architects, notaries, pharmacists or dentists.
Company formation in Poland: 3 steps
The following sections give you an example overview of how, as an EU or EEA citizen, you can quickly and easily set up a limited liability company (sp. z o.o.) in Poland.
1. Check whether you can set up your company in Poland
Most entrepreneurs choose to set up a limited liability company (Polish: “spółka z ograniczoną odpowiedzialnością – spółka z.o.o.”). This is one of the most universal and versatile legal forms. The company must have its own share capital of no less than PLN 5,000.
2. Sole owner or partnership?
In the next step, you decide whether you want to run your company alone or with business partners. If you choose to have partners, the following requirements must be met:
- Your partner is a natural person with full legal capacity
- Your partner is a person with limited legal capacity, authorised by a legal representative
- Your partner is a legal entity
3. Traditional or electronic?
You can set up your company in Poland in 2 different ways:
- Traditionally: in the form of a notarial deed
- Electronically: via the website
If you choose the traditional route, you need to engage a notary, while the electronic route requires a qualified signature.
If you choose a notary, you will need to make an appointment. All partners of your company in Poland must be present during the procedure. At this point, you will need to provide a wide range of information, such as your company’s name, business activity, duration and further details on its capital.
If you want to set up your company in Poland online, you can do so easily via the official court register portal. Once you have registered an account and set up your LLC’s profile, you will need to enter the elements of the agreement.
In the next steps, you need to register your company in the National Court Register (NCR) and in the Court and Commercial Monitor (CCM).
We wish you every success in setting up your company in Poland!
Reduce your transaction costs from day one
By setting up a company in Poland, you gain access to the entire European market. If you want to offer your product or service in the EU beyond Poland’s borders, you need solutions that make cross-border money transfers from euro to złoty, or vice versa, as cost-effective and simple as possible.
This is where amnis comes in. amnis is an international payments platform that lets you receive and send foreign currencies while giving you access to local networks such as SEPA, so you can carry out transactions across the EU with ease. For this, you get a local EUR IBAN. With the amnis multi-currency IBAN, you can of course also hold złoty and send it locally. This ensures your business partners always receive the full payment amount, with no SWIFT fees deducted.
At amnis, currency exchange fees are transparent and range from 0.20% to 0.40%, depending on your plan. amnis helps you cut unnecessary expenses from day one, so you can invest your money in the projects that matter.
At the same time, you can benefit from the digital and physical amnis business debit card, allowing you and your employees to make Mastercard payments from anywhere. Built-in automation features also make your accounting easier, and the mobile app lets you manage card transactions more efficiently. Even better: with the debit card, you also benefit from transparent, low currency exchange fees in the most common currencies. And even the free Starter plan includes an unlimited number of virtual debit cards.
Open your demo account now and set the course for successfully starting your company in Poland.
