How to start a company in Poland?

How to start a company in Poland?

How to start a company in Poland?

Founding the company in Poland is based on several stages. These stages are similar in

the case of Private Limited Company and Public Limited Company. Both companies have a legal personality and are responsible for their obligations to the contractors. Partners are not responsible for the obligations of the company, the company itself is liable with all its assets.

ThePrivate Limited Company's in Poland share capital is much lower than the share capital of Public Limited Company. The Private Limited Company's initial capital is only about 5000 z (about 1250 euros). The Public Limited Company's share capital must be equal to at least 100 000 z (about 25 000 euros).

The process of registering a company in Poland should begin to examine forms of activity. Then create a valid contract company in the form of a notarial deed. Signing the agreement by the shareholders, a company must be reported to the appropriate department KRS (National Court Register), within which the company is located.

The company must obtain a number REGON and NIP. The company must also report for VAT and social insurance. If you do not know how to register a company in Poland, you can benefit from the assistance of a lawyer in Poland.

Private Limited Company

Private Limited Company LTD (in Poland spka z o.o.") can be established by one or more shareholders.

Total share capital min. 5000z

Shareholders are not bear the responsibility for company's commitments.

The responsibility for commitments is borne only by a company. PLC has a legal personality, so it must escorts a corporate income tax. The rate of tax depends on the total company income.

Private Limited Company must maintains comprehensive bookkeeping.

Advantages and disadvantages running a LTD

Advantages:

limited responsibility

legal personality

capability to involve large capital

capability to run big companies

capability to run a one-person company

Disadvantages:

average set up costs

total share capital

full accounting

double taxation

Public Limited Company

Public Limited Company PLC (in polish spka akcyjna") can be established by one or more shareholders. It cannot be set up only by a one-person Private Limited Company.

Total share capital minimum 100 000z

Only a company bears the responsibility for commitments. Shareholders are not responsibility. Taxation is the same as Private Limited Company's one. It must escorts a corporate income tax. Public Limited Company must maintains comprehensive bookkeeping and makes financial reports.

Advantages and disadvantages running a PLC

Advantages:

possibility of issuing shares and bonds

limited responsibility

ease of capital accumulation

legal personality

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