(Specjalna Strefa Ekonomiczna) within
which development incentives are offered. So, the Polish government
encourages foreign investments in Poland by signing Double Tax
Treaties with a large number of countries and by offering a wide range of
incentives for entrepreneurs who decide to come from abroad and start
a company in Poland.
So, why start business and register company in Poland? What are
the advantages of starting a business in Poland? It does not matter if
you are setting up a new company from zero in Poland or looking for
opportunities in expanding your own existing business, Poland is an
attractive country for the foreigners in both ways. Starting a business in
Poland is attractive due to these benefits.
Reasons to open company in Poland
European Union membership and geographic location
(A) First, it is useful to have an operating company in Poland because the country belogns to EU. Second, Poland‘s geographic location offers to the foreign investors numerous advantages for business. The country is located at the very heart of Europe and it borders the other EU members (Germany, Czech Republic, Slovakia and Lithuania) and the Eastern European countries (Ukraine, Belarus, Russia). Great location of the country gives the access to wide markets and to millions of consumers. Also, numerous of airports and seaports allow the transport of goods all over the world.
(B) Economic stability of the country
For setting up company in Poland, it is a country not only with many
business opportunities but also with a transparent legal system, a
developed and stable financial system. Poland was one of the few
countries that has coped well with the global recession. Moreover,
Poland has the largest economy in Central and Eastern Europe and the
sixth largest economy in European Union. Also, it is worth mentioning
the transparency of Polish law: the vast majority of foreign investors can
enter the market without the need to have a local partner.
(C) Attractive investment markets
When it comes to attractiveness, Poland is the eighth country in a top of
preferences of foreign investors. The main industries in Poland are auto,
coal mining, chemicals, shipbuilding, food processing, beverages and
textiles. It is estimated that 36% of the foreign capital is invested in
manufacturing. The other main sectors that attract capital to Poland are
financial services, transports, logistics and data transfer. Polish
agriculture is an area that begins to represent an increasingly more
attractive investment opportunity. Also, due to the high growth of Polish
economy in recent years, the real-estate market is another area that
cought the investors’ attention. Almost all well known global corporations
can be found among the tenants of office buildings, shopping centers,
industrials and logistics sites in Poland. Germany, USA and UK are the
main investors when it comes to company formation in Poland.
(D) Convenience in starting a business in Poland
In addition to the above mentioned benefits and business opportunities
of starting a business in Poland, registration process of a new company
or acquisition of an already established company is very fast and the
process is simple because it does not require much money and time. In
addition, there are not so many cultural aspects of doing business in
Poland that you should know before starting to open company in Poland.
Especially having in mind that you will probably not face any language
barrier since many people in Poland are fluent in other foreign
languages like English and Russian.
Without the above mentioned benefits of having a company in Poland,
there might be many questions why start business in Poland, how to do
this and what are the legal aspects of this process that you should know.
And even if you are already interested in setting up a new business in
Poland, you may still face many questions how to start the process and
how much time it will take. So, besides the advantages of having a
company in Poland that you are already familiar with, we are ready to
share some valuable information on what are the legal forms of the
business that you can have in Poland and how does the registration
process looks like.
What can we offer for you?
The process of company registration in Poland consists of several stages. There are many legal forms of the companies in Poland but first of all you should pay attention what is the most important for you and your business goals. When choosing the legal form of the company, you should also decide if you are interested in setting up a new company from zero or you are willing to buy an already established business (i.e. business for sale). Cost of the company is also related to the type of the company that you choose.
So, for your own convenience, our company may accordingly offer you:
- A new from zero established company with your preferred company name and all the necessary internal documentation package (i.e. new company registration and business license if needed)
- An enterprise that has been already established but no business activity has been executed
- An enterprise that has been already established and had been operating for some time but due to some reasons no business activity is executed now
A running business for sale that is operating now, has turnover,
employees, etc. Choosing this type of company may ensure you steady
revenue, a verified business model, also eases you the procedure of
getting residence permit and ensures you unrestricted travelling through
all the Schengen area in EU.
If you need some professional consultancy on how to choose the
best company according to your needs and what are the cost and
advantages of each type of the company, you are always welcome to
contact us online as well. Also, we are ready to provide some
consultancy for you on legal aspects of starting a business in Poland.
Our aim is to help you – to ease of doing business in the foreign country.
The company registration procedure
Starting a limited liability company in Poland requires at least one
shareholder and one director are required for company formation in
Poland and it is compulsory to have a registered office for the respective
company. The management board of the limited liability company
consists of one or a number of natural persons, who can be, but not
necessarily should be, shareholder or a proxy of shareholder in case the
shareholder is the legal person. Management board is elected by the
General Assembly with exception of instances mentioned in an
agreement. If the only shareholder is the only member of management
board at the same time, all of his/her resolutions must have a form of
notary deed. They are optional, if the capital is not larger than 500 000
PLN and the number of partners is not higher than 25.
Company registration in Poland can be performed by a legal
representative who is appointed by power of attorney. Before starting the
process, it is mandatory to open a bank account where the initial capital
is deposited. This procedure might require the presence of the
company’s founder, but it is also possible that the foreign investor finds a
bank in his own country that can help him open a bank account at the
Central Polish Bank without the necessity to travel to Poland.
After preparing the above procedures, the investors are invited to
register at the National Court Register and then register for tax filling
system. So, further registration process is an application for an entry into
the register of trade (wpis do ewidencji gospodarczej). To register a
business, you need to choose one or more categories from the
classification of activity. After you receive a written confirmation of a
trade registration, you have to go to the National Statistics Agency
(Glówny Urzad Statystyczny, GUS) to apply for a REGON number. The
REGON is used on a number of other forms so you will be blocked
without it. You will then need to register at the ZUS (social insurance)
and apply for a tax number (NIP) at the tax office.
Company registration in Poland for VAT is only mandatory if the
company performs activities in a field that is subject to VAT. The
required documents for company registration for taxes in Poland are the
articles of association, or the company charter, the statistical number,
the REGON certificate, an excerpt from the National Court Register and
the bank certificate.
You may be able to get a subsidy for setting up your business. You will
need to address the department of business development (Wydzial
Promocji Gospodarczej). The programmes and subsidies offered change
frequently. If you are an EU citizen, you should find out what EU-
programmes are available.
If client is not European Union citizen our specialists may assist
you applying for a business visa.
Our Polish company formation specialists can provide consultancy
related to the corporate tax and dividend tax paid by businesses in this
country. To speed up the process it is possible to buy registered polish
company which can carry out business activities the same day. Our
professionals can help you with registration of a company in Poland and
will examine your needs and give advice on the management structure
of the company. They will also help to arrange the documents and open
a bank account for your company. All formalities may be fulfilled using
email upon signing the agreement on services. The details of registration
procedure and prices are discussed with each client individually.
If you still feel that you need some more detailed information on how to
open company in Poland and how to choose the most suitable company
according to your needs, also how long time and how much money the
whole procedure will take, we are always ready to help you and provide
all the necessary information in all the steps of company registration
procedure. So, you are always welcome to write an online message or
e-mail to our team on any question you are interested in.
More you give to the professional ‘s hands – more ease of doing
business in Poland!
Other available legal form of companies
- Sole proprietorship (IĮ) – a legal entity with unlimited liability;
- Private Limited Company (UAB) – the most popular form of legal entity with limited liability
- Public limited company (AB) – a legal entity with limited liability
- Full economic partnership (TŪB)
- Limited partnership (KŪB)
- Small company (MB) – a legal entity with limited liability
- Representative office of a foreign company – not a legal entity
- Branch office – not a legal entity.
The process of company registration in Lithuania consists of several
stages. When choosing a legal form for your company, you should pay
attention to the objectives pursued by the entrepreneur who is starting a
business.
In addition of choosing the legal form of the company, you should decide if you are interested in company formation from zero or you are willing to buy an already established business (i.e. business for sale). For your own convenience, our company may accordingly offer you: - A new from zero established company with your preferred company name and all the necessary internal documentation package (i.e. new company registration and business license if needed)
- An enterprise that has been already established but no business activity has been executed
- An enterprise that has been already established and had been operating
for some time but due to some reasons no business activity is executed
now;
A running business for sale that is operating now, has turnoever, employees, etc. Choosing this type of company may ensure you steady revenue, a verified business model, also eases you the procedure of getting residence permit and ensures you unrestricted travelling through all the Schengen area in EU.
If you still have some question on how to choose the best company according to your needs or you are doubting and looking for some good advice from the professionals, you are always welcome to contact us online as well. Also, we can give you some good advice on the regions and cities in Lithuania where you can start and develop your business.
Vilnius as the capital is the most attractive for the foreign people but our country has also some other big cities full of investments and favourable business environment – like Kaunas (the second largest city in Lithuania) or Klaipeda (the third largest city in Lithuania on the Baltic sea coast with a highly developed seaport). No additional cost for starting a business in other city than the capital (Vilnius) is included. Registration process of your business would be also very similar in all the cities in Lithuania.
As our company’s goals are highly oriented to our clients’ needs we want to do our best to make the business immigration to Lithuania much easier. Therefore, we want to share our knowledge with you and give you some good advice on how to choose the optimal legal form of your company. As you are already familiar with all the possible legal forms of doing business in Lithuania, below there are provided some more detailed information about the them.
Procedure of registration
Once the entrepreneur has decided on the legal form of the
company and the field of activity, to open a company in Lithuania, it is
necessary to reserve the name of the company and prepare the
following documents:
If the founder is a legal entity there must be the notarized decision
of the Board, the Board of Directors, the director or the shareholders
meeting to open a company as a private limited company translated into
the Lithuanian language;
Copies of the notarized certificate of registration and the founder’s
Articles of Association, the document about the right to represent the
legal entity translated into the Lithuanian language
Notarial power of attorney for the right to sign the founding act (the
contract), the Articles of Association and registration forms if the founder
is not willing to come to the Lithuanian notary himself;
Options for the established company name. Company name should be
written in Latin letters and comply with the legal and linguistic standards
of Lithuania. It is advisable to prepare several options and consult on
compliance of the name with the State Commission of the Lithuanian
Language. The chosen name should be reserved in the Register of
Legal Entities;
The Articles of Association of the company. The requirements to the
Articles of Association are prescribed in the Law of the Republic of
Lithuania on Companies. In addition to other information, the Articles of
Association should specify the activities of the company;
Decision on legal address in Lithuania. The company is not required to
be, or to operate at that address; however, for the registration of
business at the said address, a written consent of the owner of premises
is required. The company may use a different address for its business,
but it is necessary to notify thereof by special form;
Specify the name, surname, personal identity number (if any), passport
number, address of the future director of the private company and attach
a copy of his passport;
Specify the shareholder’s name, its address and registration number. If
individuals are involved indicate their name, personal identity number (if
any), passport number, address;
Make a founding act (the contract) as it is prescribed by law.
Open a savings account in the bank for the authorized capital.
Complete and sign the necessary forms for the registration of the
company in the Register of Legal Entities.
The documents must be certified by the notary in accordance to the
established procedure and passed to the Register of Legal Entities.
More details to be aware of during Registration Procedure
The founding documents are received and issued by the Register
of Legal Entities only in the national language; so, the documents should
be prepared in the Lithuanian language. However, if necessary, the
documents may be translated into any other language. Moreover, the
documents can be written initially in two languages.
The founder can also arrange the documents himself; however,
without adequate experience the process may be delayed. Therefore, if
you decide to open a company in Lithuania it is advisable to turn to
experienced professionals that will help to avoid possible problems and
will finalize the whole procedure in a week’s time. You will only need to
sign prepared documents and to present the necessary information for
filling in various forms with the Register of Legal Entities.
On the other hand, to avoid the procedure of registration of the
new company you can contact us and buy a ready-made Lithuanian
company with a minimum share capital and a bank account. In case of
acquisition of a shelf company in Lithuania a contract of sale of shares is
executed, then you can start using the ready-made company. The
company is acquired with its founding documents. This method of
starting business is faster, but it is little bit more expensive. However, if
necessary, you may need to change the name of the company or to
increase the share capital, or to perform other transformations. All these
procedures are not difficult and can be carried out by our specialists in a
relatively short time. It is for an entrepreneur to decide whether to open a
new company or to buy a ready-made company in Lithuania.
After registration or acquisition of a new company, you can begin
to work and dispose of funds on the account of the company and enter
into the transactions. Then, you should think about registering the
company as a VAT payer, hiring of employees, preparation of
employment contracts and other internal documents of the company.
However, you can also entrust all these questions to professionals who
will provide you with support after the opening of the company in
Lithuania.
Thus, the company can be opened quickly and inexpensively. If
you consider all the nuances of business in Lithuania, the company will
open up new prospective and stimulate your further development.
How does the registration process will look like?
If you are interested in more detailed information – how to start the process, how much time and how much cost the whole company formation process will, below there are listed steps of what you need to know exactly about the whole process:
- 1. The Client sends us documents and the required information (copy of passport, your email, address, telephone number) by email info@bizbon.com (it will take several minutes) to prepare a contract.
- 2. The client pays an advance payment of 50% of total amount to initiate the process (it will take 1-3 days until the payment will be cleared in our bank account) (up to 3 days).
- 3. We prepare necessary documents for the Client to sign within a week or faster and send them by email (up to 7 days).
- 4. Then the Client prints out our arranged and provided documents pursuant to the instruction, then signs name and signature where needed, and sends back to us by a fast post courier (it will take 7 working days until documents arrives).
- 5. After we receive the documents, it takes about a week to arrange a full package of documents to the Client (up to 7 days) of company registration in Lithuania.
- 6. Further, when the documents are created and ready, we scan company registration in Lithuania certificate and send to the Client by email address. Follow that the Client have to pay remaining payment of 50% of total amount.
- 7. In the next stem client pays the rest of sum. It could take up to 3 days to get money, that depends on sender and receiver bank.
- 8. Finally, we do send out all arranged documents to the Client by express courier. Normally it takes up to 3 working days. We are always more than happy whenever we can assist a newcomer to Lithuania. We really know how hard it is to enter a new market and that you need only the best support and most professional and honest consultants at the beginning. By starting a company registration procedure there are always many external factors that you need to be aware about. Average salary rates, different taxation for each individual business type, recruitment possibilities, office selection and many more things has to be taken into consideration while setting up a company in Lithuania. If you want to setup things in a right way at the very first time, then you should look no further and contact us asking for assistance or at least a good advice!
Reasons to open a company in Lithuania
Doing business in Lithuania may be attractive and valuable for all the foreigners – for those who are looking how to open new opportunities and are interested in company formation in this country from zero and for those who want to develop and expand their own existing business. Lithuania business immigration may create an additional solid value to your business. Starting a business in Lithuania is attractive due to these benefits:
European Union membership and geographic location. First, it is useful to have an operating company in Lithuania because the country belogns to EU. Due to convenient geographical location of Lithuania, it is easy to get to anywhere in Europe. Also it enables the country to be active both from the north to the south and from the west to the east directions. Moreover, being a member of EU, country has open borders with all the EU countries and common currency – Euro. It means that by having business in Lithuania you will be able to deliver your products and services faster – without long procedures of filling all the necessary documents.
Convenience in registering a new company. Second, it is convenient to have a business in Lithuania. Registration or acquisition of the company is very fast, and the process is simple because it does not require much money and time. In addition, you will probably not face any language barrier since many people are fluent in English, Russian and often in Polish.
Increasing competitiveness of your business. Third, by opening a new company in Lithuania or buying an existing one, you can achieve a new level of development and become a part of a new larger market. Having a European company will help you to attract new customers and markets, to expand the horizons of your business activity.
A beneficial tax environment. Fourth, Lithuania has almost the lowest taxes in the whole European Union. Therefore, it is advantageous to do business in Lithuania for tax reasons: tax on corporate profits – 5% or 15% and VAT (value added tax) – 21%.
New technologies environment. Fifth, in Lithuania there are used many new technologies in order to greatly simplify the entrepreneurs‘activity. Most government services are available online. Thus, an accountant or another employee may submit all the reports, declarations, applications and other documents electronically. In addition, the country is proud of the fastest public wireless Internet (Wi- Fi) in the world and very high speed of broadband connection. You can easily make international transfers in foreign currency through online banking. In addition, Lithuania belongs to the Single Euro Payments Area, known as SEPA. This is an EU initiative encompassing 34 countries in total that ensures the payments in euro to be executed under harmonised terms – it means that the same payment form and conditions are used for domestic payments (inside Lithuania) and international payments. To do the payments generally, you only need connection to the bank and a PIN generator for the code identifications.
Favourable economic environment. Moreover, Lithuania ranks 15th place of the most free economies in the world, , also in the 2nd place in Europe in terms of index of Investment. 1.5 million of professionals make labour market in Lithuania. It should also be noted that Lithuania ranks first among the countries of Eastern and Central Europe in the number of graduates in mathematics, science and technology per capita and third among the countries of Central and Eastern Europe for the quality of education in mathematics and natural sciences. Programming and information technology, biochemistry, pharmaceuticals, physics, medicine are well developed here. Financial sector is developing fast. In recent years, such world-famous companies as Western Union, Barclays, NASDAQ have opened their offices in Lithuania. Thermo Fisher Scientific, Swedish giant IKEA, one of the leading European retailer Lidl are operating successfully here. Therefore, by opening a company in Lithuania means starting a business at a new level corresponding to the highest standards of business conduct. Based on the above facts, the decision to do business in Lithuania looks very favourable. So, if you have already decided to register a company and start a business in Lithuania, below there are provided some steps and valuable information on what you need to know before the company formation in Lithuania.