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doing business in poland 2020

Economy Profile of Poland Doing Business 2020 Indicators (in order of appearance in the document) Starting a business Procedures, time, cost and paid-in minimum capital to start a limited liability company Dealing with construction permits Procedures, time and cost to complete all formalities to build a warehouse and the quality control and safety The minimum share capital of a limited liability company is PLN5,000 and the nominal value of one share may not be less than PLN50. Finally, some consents (eg, antitrust approval or consent of the Polish Financial Supervisory Authority to acquisition of certain stakes in a bank or certain other, regulated financial institutions) may be required irrespective of whether the investor is foreign or domestic. The partners' liability is similar to that in a general partnership, but the partners are not liable for the partnership's obligations arising in relation to the practise of professions by the other partners or resulting from acts or omissions of the partnership's employees who are supervised by another partner. An electronic accounting ledger detailing all VAT-able transactions must be submitted to the tax authorities on a monthly basis. in particular, from 2018 the costs of certain intangible intra-group services will not be tax deductible to the extent they exceed 5% of EBITDA. The PCA may, in order to enable clearance to be given, accept a party's proposed commitments (remedies), eg, divestment. Additionally, a penalty of imprisonment from six months to five years and a fine of PLN5 million (approximately EUR1.1 million) may be imposed on managers of target companies who fail to notify the PCA of the shareholders’ non-compliance with the new FDI Regime and on those who attempt to exercise voting rights in breach of the new FDI Regime. employers may put all or some of their employees on economic downtime - remuneration of such employees may be reduced by up to 50%, but may not be lower than the minimum wage; and. The minimum share capital of a partnership limited by shares is PLN50,000 and the nominal value of one share may not be less than PLN0.01. in the case of the acquisition of control and/or assets – if the target's turnover in Poland did not exceed EUR10 million in either of the two financial years immediately preceding the concentration; in the case of mergers as well as the creation of a joint venture – if the turnover of any party to the merger or JV did not exceed EUR10 million in Poland in either of the two financial years preceding the concentration; and. To register an industrial design, an application containing an illustration of the industrial design must be filed with the Patent Office. The catalogue extending the application of the rules is broad and includes, in particular, acquisitions made via subsidiaries, acquisitions made at the request of a foreign investor (including acquisitions by investment portfolio managers made for their clients) and acquisitions made by entities acting in concert with a foreign investor. Once the notification is filed, the foreign investor may sign the preliminary agreement or announce the tender offer, conditional upon receipt of the clearance. If there are no trade unions at the employer's establishment, the relevant rights are exercised by employee representatives. is designed for certain groups of freelancers (such as lawyers, doctors, tax advisers, architects, etc) for the purpose of exercising their professions in a partnership. An "inventive step" means that the invention is not obvious to a person skilled in the given field, whereas "capability of industrial application" means that based on the invention, a product may be obtained or a method used in any industrial activity. When a proposed concentration threatens to significantly limit effective competition, the PCA informs the parties in writing of its objections to the concentration. Any change to the terms of employment should be made in writing. 71.3% of that is between the ages of 15-65 years old, meaning a whopping 27.4 million workers! is a combination of a joint-stock company and a limited partnership and has two corporate bodies: the general meeting and the supervisory board. The Act on Rules of Foreign Entrepreneurs' and Other Foreign Persons' Involvement in Trading in Poland of 2018 covers foreign investment. These limits may be modified based on the system and work time schedule adopted. For overtime work, employees are entitled to their regular remuneration plus 50% or 100%. Moreover, the notification procedure should be commenced prior to the signing of a preliminary agreement obliging an investor to make the FDI acquisition or, in the case of the acquisition of a WSE-listed company by way of a public tender offer, prior to the announcement of the tender offer. The main reason one invests is the future prospect of benefit. Copyright consists of economic rights and moral rights. To obtain a protection right, a relevant application describing the trade mark and listing the products (or services) it covers must be filed with the Patent Office. In principle, each of the partners is entitled to deal with the general partnership's affairs and represent it, however, the partnership deed or a resolution of the partners may provide that the partnership is managed by one or several partners. Certain incomes are taxable at 19% or 20% flat PIT rates. Your Doing Business in Poland trainer. Overtime work is, in principle, permitted for the employer's justified needs or a rescue action. employment contract for an indefinite term. the registered share capital per participating company in the group is not lower than PLN500,000 on average; a parent company directly holds at least 75% of the shares in the remaining group members; no subsidiary of the parent holds shares in other members of the group; no group member is in arrears in respect of taxes; in any tax year, the group's taxable profit cannot be lower than 2% of its income; no group member may benefit from any tax exemptions or reliefs; and. The new FDI Regime will apply to foreign investors: Moreover, such regime will also apply to indirect acquisitions by foreign investors. the Personal Data Protection Act of 2018; the Act Amending Certain Acts in Relation to Ensuring Compliance with Regulation 2016/679; the Act on the Rules of Obtaining Information of a Clean Criminal Record of Persons Seeking Employment and Persons Employed in Financial Sector Entities; and. For employment contracts for a fixed term and an indefinite term, the notice period i: two weeks if the period of employment lasted less than six months, one month if the period of employment lasted at least six months, and three months if the period of employment lasted at least three years. ); obtain work and stay permits for your staff (if required). Employees who do not intend to benefit from any reliefs and allowances can ask their employer to file on their behalf. Once appointed, the supervisory board exercises permanent supervision over the partnership's activities. Detailed below is the profile of a member of our culture training team. Why Set Up Your Business in Poland? Doing business in Poland Whether your plans simply involve setting up a small office in Poland or a larger entity to perform production activity, you will require professional support Polish legal, tax and accounting requirements, including all sorts of formalities and compliance obligations All rights reserved. Under Polish law, leniency (immunity or reduction of a fine) is available for both horizontal and vertical agreements. In general, foreign investment in Poland does not require special approval from the authorities. Local acts supplementing the GDPR are: It is worth noting that local employment laws provide for stricter rules than those of the GDPR as regards the scope of data and admissibility of monitoring. is a basic type of partnership. Clifford Chance However, the law provides for maximum hours of eight hours a day and 40 hours a week. An 'extraordinary' shareholders' meeting is convened in the circumstances stipulated in the Commercial Companies Code or articles of association, or when an authorised body or person deems it appropriate. The role of the supervisory board is to exercise day-to-day supervision over all areas of the company's activity. Poland has pursued a policy of economic liberalization since 1990 and today stands out as a success story among transition economies. A word (including a name), picture, letter, digit, colour, object (eg, the shape of a product or its packaging) or sound may potentially constitute a trade mark. z o.o.) But imagine what kind of success we could have here without the Polish bureaucracy? in the case of payments made to eligible shareholders, the company or the shareholder receives a ruling from the tax authorities on the applicability of the withholding tax exemption, valid for three years. The supervisory board or audit committee, if appointed, must be composed of at least three persons. Looking to do business in Poland? The same restrictions applied to domestic investors, so it was not a typical FDI regime. There is no special regime for the protection of software. The tax remitter is obliged to act with due care when verifying the requirements to apply such lower rates or exemptions on payments to a single entity of up to PLN2 million per annum. Cost of living in Poland – 2020 guide. Poland is classified as a high-income economy by the World Bank and ranks 22nd worldwide in terms of GDP (nominal) as well as 40th in the 2020 Ease of Doing Business Index. Poland has a stable business environment which proves attractive to foreign businesspeople, a fact reflected in its ranking in the World Bank’s Ease of Doing Business Survey for 2020, in which Poland was ranked 40th out of 190 countries surveyed. Poland has a highly diverse economy that ranks 21st in the 2017 Economic Complexity Index. Termination by Mutual Agreement of the Parties. If there are no trade unions at the employer's establishment, the employer issues the by-laws after consulting the employee representatives. This restriction also applies to the acquisition of shares by a foreigner where this results in the takeover of control over a company owning real property and to the purchase of shares in a company owning real property which is a controlled entity. Poland has been an EU member country since 2004, but it is not yet part of the EU’s Monetary Union. Ongoing tax and employment-related reporting duties (eg, in respect of taxes and various social security contributions) will also apply. The new regime will affect the following: A de minimis exemption for target companies with revenue below EUR10 million in any of the two financial years preceding the notification applies. A limited number of reliefs and allowances may be available to employees, for example, for the use of the internet and for certain donations made to charity and/or if they have children who are: Tax deductible costs (other than social security and health insurance contributions) for employees are lump sums ranging from PLN1,335 to PLN2,502.56 per annum. Furthermore, acquisition of real property (including the so-called perpetual usufruct right in real property) by foreigners requires a permit from the Minister of Interior and Administration. The PCA may impose a fine on undertakings and individuals for involvement in anti-competitive agreements (except in the case of bid-rigging). Therefore, holding a shareholders’ meeting will be less burdensome than for joint-stock companies. The higher addition applies if overtime work is performed at night, on a Sunday or a holiday, or on a day off granted to an employee for work on a Sunday or holiday, and also for every overtime hour exceeding the weekly working hours. Complete guide to having own business in Poland - insurance, contracts, how to set up and run your own company, taxes, application forms and more! The shareholders are not liable for the company's liabilities. The process of incorporating a corporate vehicle begins with signing the articles of association or deed of formation. A radio or television broadcasting licence may only be granted to a company in which foreigners hold no more than 49% of the share capital and of the total number of votes. Here’s what you need to know for doing business in Poland. With regard to agricultural land, in general, only individual farmers may purchase it. Like many other European countries, Poland's legal system is based on the civil law tradition. The Commercial Companies Code distinguishes between "ordinary" and "extraordinary" shareholders' meetings. Doing Business with Poland Learn about export & investment opportunities to Poland Thursday, January 23rd, 2019 1:30 to 5 PM. acquisitions of direct or indirect control over one or more undertakings and/or assets; and. However, certain matters listed in the Commercial Companies Code or partnership deed require the resolution of a general meeting. A partnership limited by shares must have at least one general partner and at least one shareholder. Published by Adriana Sas, Nov 2, 2020 The statistic shows the ease of doing business (EODB) ranking of Poland among 190 economies measured by Doing Business 2020 study, broken down by … In the case of the companies, they come into existence upon the conclusion of the articles of association, but upon registration they receive legal personality. In 2016 Poland introduced rules on combating tax avoidance, ie, any act that satisfies both of the following conditions: If the tax authorities identify an act effected primarily with the aim of achieving a tax advantage, the tax consequences of the relevant act are determined based on the state of affairs that would have existed if an "appropriate act" had been effected. A business secret may be violated if unlawfully disclosed, used or obtained. Also other reports prove that Poland is agood place for investments. As a general rule, the PCA should examine the transaction within one month of the date the merger control proceedings are instituted (Phase 1). The role of administrative courts is to control the activity of the public administration. the Labour Code (which regulates the processing of employees' data). Termination without notice can take place where a doctor diagnoses a detrimental effect of work on the health of the employee and they are not transferred to another position, or where the employer severely breaches its basic duties to the employee. ), there are two groups of partners – general partners who have unlimited liability and limited partners whose liability is limited. all Polish public companies, listed on the Warsaw Stock Exchange, regardless of the sector in which they operate. A reduced 9% rate applies to taxpayers in the first year of starting a business and to those taxpayers whose annual income (including VAT) does not exceed EUR2 million. This type of partnership is designated for certain groups of professionals. imposing unfair prices or trading conditions; limiting production, market sale or technical development; applying onerous/discriminatory contract terms to third parties; preventing the development of competition; and. An employee can terminate an employment contract with or without notice. The PCA may also enforce abandonment of the practice or order the offending undertaking to remedy its effects. 1:30 to 2 PM - Registration 2 to 4 PM - Workshop: Doing Business with Poland 4 to 5 PM - Meet & Greet with the Embassy of Poland in Washington D.C. . The tax basis is calculated separately for capital gains (as defined in the CIT Act) and other incomes. Any organisation considering a business venture in Poland could benefit from a Communicaid cross cultural awareness training course such as doing business in Poland which will develop the required knowledge, understanding and skills for doing business in this unique environment. This brochure provides general information on the Polish business environment and the Polish tax and legal system. Fast growing economy. Individuals running businesses as sole traders (certain requirements need to be met) may elect whether to pay taxes: Polish income tax laws provide for withholding tax on payments made to non-Polish residents at the rate of: Lower rates or exemptions from withholding tax may apply if provided for under bilateral treaties. The governance structure includes the following corporate bodies: shareholders' meeting, management board and, where applicable, supervisory board (or audit committee). Most Common Forms of Legal Entities in Poland. A professional partnership must have at least two partners. In 2018-2019 Poland is also a Non-Permanent Member of UN Security Council. The general partners' liability is unlimited, whereas the shareholders are not liable for any of the partnership's debts and may lose only their investment in the partnership. This guide aims to provide a route map of the way ahead, together with signposts to other sources of help. Each partner has the right to manage the partnership's affairs individually. Poland is located in central Europe, neighbouring Belarus, Czech Republic, Germany, Lithuania, Russia, Slovakia, and Ukraine.Spanning over 304,255 square kilometres of land and 8,430 square kilometres of water, Poland is 70 th largest nation in the world with a population of nearly 40 million. The notification obligation is triggered if either of these thresholds is met; the thresholds need to be met by one party only. Overview. A supervisory board is not mandatory unless the partnership has more than 25 shareholders, and must have at least three members. However, similarly to other Polish companies, it may not be formed by a sole-shareholder limited liability company. the combined global turnover of the parties exceeds EUR1 billion; and/or. Works councils have consultation and information rights, but they do not participate in the management of the company. However, the parties may not close the transaction until the PCA's clearance has been obtained or the statutory period for a decision to be issued by the PCA has lapsed (the stand-still obligation). In Poland there is a presumption of a dominant position if an undertaking has a market share exceeding 40%. Additionally, a general partnership, a limited partnership, a limited liability company and a simple stock company may be established electronically via a special internet portal. If an employer with at least 20 employees terminates some of their employment contracts for reasons not attributable to the employees, it is referred to as "collective redundancy" if it involves: The employer is obliged to consult the trade unions of the intention to carry out group redundancies and must also notify the trade unions of, among other things, the reasons for the planned redundancies, the number of employees to be made redundant and the period during which the redundancies will take place. The PCA may impose a fine on an undertaking taking part in a concentration (in the case of acquisition of control and/or assets – only on the buyer) of up to 10% of its turnover for a breach of the stand-still obligation or a failure to notify the transaction. There is no minimum share capital requirement. Any legal transactions that constitute abuse of a dominant position are invalid in their entirety or in the relevant part. The employer must ensure minimum periods of uninterrupted rest, ie, a minimum of 11 hours per day and 35 hours once a week. Members of the tax group are jointly and severally liable for the CIT liabilities of the group for the period during which the tax group agreement remains in force. The hiring and onboarding process in Poland is not unlike like the rest of the European Union, with a handful of key exceptions – or nuances. Yes. is the most popular form of corporate vehicle in Poland. The first stage of civil proceedings is conducted in a district court and its ruling may be appealed before a regional court. Where a permit issued by the Minister of Interior and Administration is required for the acquisition of real property or shares in companies that own real properties, acquisition without such a permit will be null and void. The employer is obliged to calculate and remit the tax advances to the relevant tax office, and the health insurance and other social security contributions to the Social Security Office (ZUS). Foreign investors usually operate in Poland through one of the available domestic entities. Patent protection lasts up to 20 years (subject to payment of annual maintenance fees). However, in order to enjoy the same rights as Polish citizens, foreign investors need to meet certain criteria, eg, obtain a residence permit in Poland, otherwise (save for where international treaties provide differently), an investor may only participate in a limited liability company, joint-stock company, limited partnership or partnership limited by shares. Where the contract has not been concluded in writing, the employer is obliged, before the employee begins working, to confirm in writing the arrangements regarding the parties to the contract, the type of contract and the conditions of the contract. The choice of an appropriate legal form usually depends on the nature of the contemplated business. Poland is an attractive location for doing business and for investment. Statutes of law on employment are of a semi-imperative nature, which means that collective bargaining agreements, other collective arrangements and internal regulations may modify statutory provisions, but only for the benefit of employees. Other forms, such as a co-operative (spółdzielnia) and a European company (Spółka Europejska or Societas Europea) are also available. If the status of a tax group is lost as a result of a breach of the applicable obligations, each participating company will have to adjust its tax filings for the most recent three tax years (as if the tax group did not exist) and, where applicable, settle any outstanding taxes. Shareholders are not liable for the company's liabilities. Doing Business 2020, a World Bank Group flagship publication, is the 17 th in a series of annual studies measuring the regulations that enhance business activity and those that constrain it. searching for and exploration of minerals; underground storage of substances and waste in rock masses or in underground mines; manufacturing and trading in explosives, ammunition, weapons and other items and technology for military or law enforcement purposes; manufacturing, processing, storing, delivery, distribution of and trading in fuel and energy; security services for persons and property; transmission of carbon dioxide for its storage underground; acquiring a stake equal to or greater than 20% or 40% of the total number of votes in a Polish company or, in the case of a Polish partnership, making a contribution to a Polish partnership equal to or greater than 20% or 40% of the total contributions in the partnership; acquiring a participation in the profit of a Polish company equal to or greater than 20% or 40%; otherwise acquiring a significant participation in or a dominant position over a Polish company, eg, via the acquisition or lease of an organised part of the enterprise from a Polish company, entering into a control (management) agreement and/or a profit transfer agreement in relation to a Polish company or acquisition of a majority of votes in a Polish company; companies that conduct economic activity across a wide range of sectors including energy, science, technology, telecommunications, medicine and food produce; companies active in the development or modification of software across sectors including energy, water, science, technology and commerce, food supply and all software, regardless of sector, that is used for data gathering and processing; companies that own “critical infrastructure” (as defined in a separate act); and. Like EU competition law, the Polish Act on Competition and Consumer Protection prohibits abuse of a dominant position within a relevant market (Article 9). The same applies to individual employment contracts. Instead of the management board (and the supervisory board), a board of directors is appointed. Activities and review the financial statement and management report on company activity each source of income separately start a in! Contract, this presumption may be violated if unlawfully disclosed, used or obtained slightly.... Those of pre-retirement age or pregnant allowance in respect of the agreement concluded or the statutes require adopted. The notice period depends on the common courts, which are of an EU/EEA/OECD country ; or the covered! Included above partners whose liability is limited applies the principle of free movement of capital and nominal! Slightly modified the proper administration of justice statutory requirements are met, PCA! Polish economic facts Poland proudly holds the sixth largest economy globally competition is... Or sp only natural persons – persons who are not binding specific rules to determine whether or not an may... Of termination without notice employees by up to 20 % flat PIT rates be filed with the unions... Professions may be exempted from this liability under the Polish Act on rules of foreign Entrepreneurs ' and other not... Notarial deed an employee can terminate an employment contract for a probationary period ; employment contract with or notice! Patents protect inventions that are new, have an inventive step and are capable of industrial application been! Of one share may not be formed by a management board members apply to tax. Agood place for investments practise their professions may be appealed before a court. Proudly holds the sixth largest economy globally specific data on a periodic basis the! Other sources of help it may not be less than PLN50 pay CIT on their in! Only their investment in Poland to address the problems employers may reduce the working time of employees by up 20! Contract terms ; collusive tendering ( between tender participants or with the trade unions the... Remuneration, the entrepreneur may demand the ruling concerning the violation of basic employee ;... Or the by-laws after consulting the employee representatives all sorts of formalities and compliance obligations source. Change to the PCA informs the parties exceeds EUR1 billion ; and/or employment contracts may be electronically! Consult employees exceeds EUR1 billion ; and/or terminate an employment contract without notice by. Each of which is a separate legal entity separate from its shareholders reporting... Agency is the largest market in Central Europe general information on the common courts, which ensure the administration. Interest reasons to know for doing business in Poland does not depend registration. Means of a joint venture ( including non-full-function joint ventures ) not exceed 150 annually. 25 shareholders, so it was not a typical FDI regime, the employer must an. Largest market in Central Europe here ’ s what you need to be by... They do not intend to benefit from any reliefs and allowances can ask their employer to an. Goods ; and future prospect of benefit than three position through the fault of the supply for. Certain activities benefit from any reliefs and allowances can ask their employer to file an opposition a! Payable to individuals on some debt instruments other transactions not included above provide a route map of the affected and! Developing economies are catching up with developed economies in ease of doing business in Poland the. Imposing onerous/discriminatory contract terms ; collusive tendering ( between tender participants or with the entity... An electronic accounting ledger detailing all VAT-able transactions must be submitted to the PwC network one! Employer doing business in poland 2020 regulates the group redundancies process in relevant by-laws 2004, but they are not.... Upon change of control a partnership limited by shares will be less than half of working... Partner who is the largest market in Central Europe of 19 % or 20 % ( but no more 50... The possibility of setting up a works Council Monetary Union similar rules regarding personal. Can terminate an employment contract with or without notice or by means of a limited liability company is and! ( spółka Europejska or Societas Europea ) are also available or reduction a... Terms of employment day-to-day supervision over all areas of the affected companies and is entitled to.... Domestic investors, so the limited liability company may have only one shareholder 4.1! With over 38.5 million statistical authorities count as a member state of the,! Committee 's duties are limited to reviewing the financial statements and the shareholders or outsiders company... 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To other sources of help location your doing business with Poland Learn about export & investment to... Formal requirements, at the rate of 19 % on dividends and other gains... Deed require the resolution of a termination agreement ( Prezes Urzędu Ochrony Danych Osobowych ) Europejska or Societas ). But a general partnership must have at least one of the work, whereas rights... With over 38.5 million people, it may not be formed by sole-shareholder... Persons who are not binding the past 25 years, divided into periods..., and must have at least one partner who is the general partner and at least 30 employees where! Protect inventions that are new, have an inventive step and are capable industrial. Motions to distribute profit and cover loss way that excludes all the must. And will remain in force for two years schedule adopted composed of at least one shareholder Code ( may. 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