Investor Guide

The aim of the Investor’s Guide is to facilitate the inception of a business through a step by step presentation of procedures and actions that need to be carried out, and to enable access to the relevant forms and institutions.

Among entrepreneurs who run their own enterprises or practices one can count: natural per-sons, legal persons and organisational units which are not legal persons but posses legal status under separate Acts.

The co-partners of civil partnership are also considered entrepreneurs within the area of their activity.

One should carefully assign the correct legal form for their enterprise.

Investors can choose the most relevant form for conducting their business activity from the list below:

- Individual conducting economic activity

- A Civil Law partnership

- Registered Partnership

- Professional Partnership

- The limited liability company

- A joint-stock company

- A limited partnership

- A limited joint-stock company

Starting an enterprise in Poland involves carrying out the following administrative and legal procedures (consecutive steps in establishing a business):
- Entry in the Business Activity Register
- Entry in the National Court Register
- Entry in the National Official Business Register (obtaining a REGON number)
- Opening a bank account
- Obtaining a Tax Identification Number (NIP)
- Registering the company at the Social Insurance Institution (ZUS)
- Obtaining the necessary concessions or permissions
- Other procedures (National Labour Inspectorate, National Sanitary and Epidemiological Inspectorate)

Other forms of carrying out businesses in the Republic of Poland may involve setting up the following:

- Representative office

- Branch office

After the accession of Poland to the European Union many restrictions regarding purchasing properties by foreigners ceased to apply to EU nationals and entrepreneurs. It does not mean, however, that all foreigners from EU can freely purchase any real estate in the Republic of Poland: during the transitional period they are obliged to obtain relevant permits for purchas-ing agricultural and forest lands and a “second home” (i.e. the real estate which is intended to be developed for residential or recreational purposes and which will not be used by a foreigner as the habitual residence)

The rules regarding purchasing properties in Poland are governed by the provisions of the Act on Purchase of Real Estate by Foreigners. After the accession of Poland to the European Un-ion many restrictions regarding purchasing properties in Poland ceased to apply to nationals and entrepreneurs of the European Economic Area (EEA). However there is some limitation as far as purchasing properties in Poland by natural and legal persons of EEA is concerned. The general rule is that since 1 May 2004 the EEA nationals and entrepreneurs are not re-quired to obtain a permit of the Minister of Interior and Administration except for: purchasing agricultural and forest lands (for 12 years after Poland became a member of the EU) and pur-chasing a “second home” (for 5 years after Poland became a member of the EU).

The general rules regarding the employment of foreigners in Poland may be important for all decisions concerning running an enterprise in the Republic of Poland.

September 2014