Poland officially known as the Republic of Poland, is the 8th largest European Union country. It is located in Central Europe. It has mountainous areas in its south while Baltic seacoast in northwest. Most of the people in Poland speak Polish, which is its major language and about 90% population can also speak English. Poland has 8th largest economy in the European region. Moreover, it has also been considered to be a high-income economic area by World Bank.
The national currency of Poland is Zloty (abbreviated as zl). The value of Zloty can be understood by comparing it to Euro. Although with the variation of economic situation of countries the value of Zloty changes but roughly a Euro is equal to 4,2 zl. One Zloty is divided into 100 smaller denominations which are named as grosz (gr). Although Poland has been a member of European Union, since 2004, but it has not practiced the use of Euro as its national currency. The capital of Poland is Warsaw, which is also the largest urban center.
Poland – from the perspective of residence
Poland is a great place to stay and live, but it is also not void of some challenges for their natives and also for foreigners. Listing out Poland as a destination place can bring you many benefits, which have been summarized below:
Polish Education System
Poland’s education system has developed a lot in recent time that has led to a general improvement in the education standard in the country.
If you are an expat, and residing in Poland, your children can attend the public schools in this country without any kind of charge, however, this does not include the other expenses of school going children such as their books, uniform, lunch, stationary and other school supplies. Teaching medium in Poland’s public schools is Polish, this is the only reason that most of the foreigners prefer to admit their kids to international schools in Poland, instead of their public schools.
In Poland, education is mandatory for all children aged between 7-18 years. Children are normally enrolled in kindergarten between the age of 3-5 years. It is mandatory for every child to go through at least 1 year of formal education before joining the 1st grade and not later than 7 years of age. Primary schools are from grade 1 to 6. After 6th grade, children can choose to attend either general high schools, vocational training institutes or technical high schools.
A normal school week runs from Monday to Friday and each day starts at 8 a.m. while ends at 2:45 p.m. Due to higher population of students enrolled, some schools choose to run the school day in 2 shifts, morning and afternoon. Moreover, the normal Polish academic year is from September to June. 3 main holiday seasons are Easter, Christmas and winter break (that takes place between end of January or beginning of February).
Enrollment of child in Polish public school depends on where the child resides. Public schools are expected to approach all kids living in the school’s territorial catchment region. However, it is not compulsory for children to go to their nearest public school. Parents have the freedom to ask their young ones permitted to go to the other school not in their region, but in such cases, it is up to the school’s director to decide if the child will be admitted in that school or not.
Residence Permit of Poland
If the expats, from non-European Union states, are willing to live in Poland for a duration of more than 3 years, then they are required to apply for a residence permit of Poland.
The application for the residence permit should be submitted during your legal stay in Poland. The Poland Immigration Office is responsible for accepting the applications for permit. On approval of your residence permit, your passport will be stamped confirming that you have been granted with the temporary residence permit in Poland.
Foreigners, who are willing to relocate to Poland and carry out business activities in the country can apply for the residence permit as long as they meet the following requirements:
Following documents are required to apply for the residence permit.
A resident permit allows foreigners to enjoy some extra benefits which are listed here:
Entrepreneurship in Poland
Establishing a limited liability private company in Poland is a great opportunity to discover all the benefits and advantages of entrepreneurship in European Union (EU). It is good news for entrepreneurs, that there are not any custom duties, and there are numerous advantages and pros in the market relations between EU member states. The corporate tax rate is 15% of company’s income.
Social guarantees, quick and easy procedure for temporary and permanent residence permits, visa-free regime in EU member countries and purchase of movable/immovable property on positive terms will help you in settling comfortably in Poland, even if you are registered as a temporary resident.
Basic requirements for applicants:
Expats/foreigners who are applying for the permit in Poland, should meet some requirements given below:
As an expat, you are allowed to act as a Director of a Polish company. You can choose the employees of the company depending upon your qualification and expertise. Your company will earn real profit with just a little investment and a conductive business environment.
The registration process of the company usually takes 2-3 weeks, the procedure comes with some minor legal troubles, and the Polish government appreciates the addition into the economy from international market.
Depending on your capital investment, it all depends on you whether you are interested to run a small-scale, medium-scale or large-scale business.
Small-scale businesses are most common in Poland, it is because it is flexible and can easily get a profitable position in the market of goods and services. Moreover, small scale businesses can be carried out in the form of a corporation in Poland.
Setting up a business in Poland becomes easier for you if you have a team of versatile and experienced professionals, since juridical relationship and document conduct, possess their own characters in every country. At times, being sure of your capabilities is not enough and it is better to get assistance from professional consultants, advisors, reliable lawyers and financial analysts regarding your business and immigration issues.
Stephen M.S. Lai & Co. CPA Limited, provides you with comprehensive guidelines and detailed assistance at all stages of establishing a business at Poland. Being located in UK, it also acts as a hub of professional service provider to UK and other EU nations. They also have their regional offices located in Hong Kong for providing professional services in China.
This company, also provides professional services for business plan execution, firm registration and operation of foreign representative offices in Poland. They register almost all possible types of businesses in Poland, the most common being Limited Liability Companies.
Following is a brief list of company formation services:
The minimum capital required to set up a company is 5000 PLN, which is equivalent to 1.25 EUR. The maximum number of shareholders of such company may be up to 3 founders. Currently, there exists no restriction regarding the nationality of business founders and executives.
If you are willing to set up a new business in Poland or looking for purchasing an already existing set up, you are guaranteed that registration of your newly formed company or buying process of a business will be efficient and safer with the advisory and consultancy services provided by M.S. Lai & Co. CPA Ltd. Firm’s highly trained specialists will serve your all queries and will provide suitable cooperation terms.
Outcomes of moving your business to Poland
Every businessman, whether small-scale or large-scale, looks for an environment without too much bureaucracy, corruption and any kind of government infringement. Poland is a place that complies with the requirements set for the European Union nations. The business environment offers the required stability for the growth and development of your company.
Poland, because of its great working environment, attracts business of different scale levels, from the sole proprietors to some bigger companies. Both of them are provided with equal opportunities and accessible circumstances of carrying out their business activities. Expat business activities in Poland are regulated by the law, issued on 2nd July, 2004 on “Freedom of Economic Activity” not forgetting the Commercial Companies Code. In accordance with the rules, immigrants can realize economic activity in various kinds of businesses such as, limited joint stock partnership, limited partnership, LLCs and Joint stock companies.
In regard to the deposit ratio, a company can be completely foreign, whose all shares belong to a foreigner too, or common, part of the shares go to Polish locals.
The “Law on Foreigners”, of 12th December 2013, came into force on 1st May, 2014. In term of Polish, it is abbreviated as “USTAWA z dnia 12 grudnia 2013 r. o cudzoziemcach”. There are a fewer chances in the law, but many points regarding foreign business activities were given more clarity.
If you are willing to start a large-scale industrial production firm, affect the sale of merchandise or to become a service provider, you have a great chance to multiply your investment legally under country’s laws.
Privileges – As an Immigrant Businessman
Most of the people see the business immigration as an opportunity to set in Poland and become a legal resident, besides having business goals. Setting up a business in Poland lets you become a resident, firstly on the basis of temporary residence, but eventually you can become a legal resident by getting a permanent resident permit.
A temporary residence permit allows you to move across the Polish region freely. Moreover, you can stay, in any Schengen state, for a duration of 90 days during every 6 months. It should be noted that Polish National Visa, is only issued to the members of the company’s board of directors (BoD), not to shareholders, but shareholders and directors can be the same person.
Your children may receive temporary residence permit on the basis of your documents as a foreigner. Issuance of permit takes 3 months, on average; 2 months for case issuing and 2-4 weeks for producing the cards.
Stephen M.S. Lai & Co. CPA Limited welcomes you and provides you advisory complete service spectrum that is required for successful relocation to Poland. The services offered, in this case, are as follows:
If you are willing to move your business to Poland, don’t hesitate to consult this professional firm on the procedure. Employing a professional firm for the services when applying for an entrepreneur settlement visa in Poland will prove to be helpful. Most of the firms are experienced in their work and are well aware of rules and regulations of residence and work permit.
Once you get the residence permit, you can avail all the benefits of residing in Poland. The education system is excellent; therefore, you do not have to worry about the education of your children. Transportation is good and, in a nutshell, the living standard in this European Union state is pretty good.