Last Updated on January 18, 2024 by Mubashir Rafique
There are increasingly rising challenges for registration in Poland. This is due to clear legislation, the availability of qualified personnel, the time coincidence with the European Union’s time zone, and a society that has been constructed in a civilized and democratic way.
In Europe, Poland possesses the sixth-largest GDP, which indicates its steady growth and stability.
Furthermore, starting up an enterprise is quite easy, even for outsiders. Company register in Poland with the court registry (KRS – Krajowy Rejestr Sądowy) generally takes several days to two weeks, while amendments to be made to an existing company take around 3-4 months.
Why Opting for Fintech Harbor in Company Registration is a Strategic Move
Don’t be afraid of registering a business in Poland. It is not imperative for a Polish citizen to occupy the management board or director position. With the S24 electronic system, you can open your company remotely.
A large authorized capital is not required to register an LLC. Money does not need to be deposited into the bank account.
The owner may apply for a temporary residence permit within 6 months of the company’s activity and for permanent residence in Europe after 5 years from the date of issuance of such a permit. A business can receive European credits at low rates – 3.5–5.5% in euros. There are also subsidies for small and medium-sized companies available here.
Streamlined Regulatory Processes
One of the main reasons to consider having a Fintech Harbor is due to its streamlined regulatory processes. Often, these special zones have regulations that are customized for the needs of Fitech companies, thus making the registration process smoother and faster. This will save you time and effort so that you can focus on developing and expanding your company.
Access to Fintech Ecosystem and Support
Selecting a Fintech Harbor also implies joining a vibrant Fintech ecosystem. These facilities are created to promote innovation and cooperation among industry players.
Your firm can gain lots of benefits by being part of such an ecosystem, including networking opportunities, partnerships, and specific support services for fintechs. In fact, this could be very instrumental in the growth and continuity of your business.
Financial Incentives and Tax Benefits
Another reason why choosing Fintech Harbour to enroll a company is strategic is because it offers financial incentives plus tax benefits to these companies. Most Fintech Harbors have friendly tax systems as well as financial incentives that attract fintech companies into their harbor.
Therefore, your company’s financial position can be improved through them while contributing towards overall cost-effectiveness.
International Recognition and Credibility
In addition, registering in one of the FinTech harbors boosts your firm’s international recognition and credibility.
These specialized areas are mostly connected with innovation and excellence within the FinTech domain. In this respect, your firm may become more competitive and trusted by its global clients, partners, or investors.
Fintech Harbor’s Key Role in the Company Registration Process
Qualified legal support is essential when considering registering a company in Poland. Experts will ascertain whether other companies have similar names in their registers. There are some firms that may incorporate similar names, and this is not acceptable as it could result in the registrar declining the application forms.
Furthermore, a business with a closely similar name might have a registered trademark, which can hinder you from using it. In such cases, damages may be payable.
Also, have global trademark registration services to reduce these risks and guarantee full protection for your brand. Fintech Harbor ensures that your company’s name and trademarks are protected within Poland as well as in different international jurisdictions.
Consultants will help you choose the best form of business and discuss the details of starting a business in Poland. The most popular form of establishing a company is known as LLC.
This company can be established by one or more founders, enabling it to conduct regular entrepreneurial activities under management carried out by an elected board of directors consisting of one or more individuals.
Streamlining the Company Registration Application Process
Important considerations before registering a company in Poland:
- The company’s name. It is not necessary to register the name beforehand, as these things can be clarified with lawyers during the process of submitting documents.
- Procedure of registration. Company registration is possible through a web portal or by using a notary. The average duration of the online procedure is from three to five days; offline registration may take from one to three months.
- Shareholders. Representatives of Polish companies can have any citizenship.
- Office address. During registration, it is obligatory to provide your local office address.
- Directorship. A local director is not required; non-residents are allowed to run the company’s operations.
- Constitution. The company may decide on choosing a charter either for LLC or JSC type of business entities.
- Bank Account. After registration, it will be possible to open a corporate bank account.
- Electronic signature. Every director of a Polish company has to have an electronic signature.
- Characteristics of Business in Poland. Doing business in each country has its own specificities; due to its friendly attitude towards foreigners involved in entrepreneurship, Poland is one of the most attractive options for international businesses when considering registering a company within that territory.
Cost-Effective Solutions for Company Registration
After a company has been established, it is possible to open a bank account. Poland has fewer strict rules about this than some European countries. However, even though foreigner-focused banks may not be subject to local laws, finding another financial institution is possible.
If you want to open a corporate account for a non-resident with any bank in Poland, go through the following steps:
- Select a bank that offers reasonable prices.
- Ensure that the chosen bank serves foreigners.
- Arrange an individual meeting with a bank representative.
- Give out complex information about your company, such as the nature of business, projected income, currency type used, and contract availability.
- Prepare required papers for submission.
- Translate these documents into Polish and certify them.
Besides, opening a corporate account at a distance is another option in Poland. Thus, you should scan all documents and send them along with the appropriate application form by email only.
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