Are you thinking of developing your business in Poland? There are several reasons why it’s worth setting up a company in Poland. Asides from having a stable and rapidly expanding economy, your brand could be tapping into a broad pool of technologies and skills. Why it's worth?
Poland is a member of various international organisations, from the European Union to NATO and the World Trade Organisation. As a founding member of the United Nations, Poland is also a member of the Organisation for Economic Cooperation and Development.
Poland is the largest country in Central and Eastern Europe, with around 38.4 million citizens. It’s considered politically safe and accessible, making it an attractive marketplace for foreign investment. In 2020, KPMG reported that foreign investors earned EUR 19 billion from the Polish market, which is double the amount compared to a decade earlier. As a unitary state, most of Poland’s legal regulations apply to the whole country.
When it comes to investment attractiveness, Poland ranks first place in Central and Eastern Europe, China and Russia. Poland currently ranks as the ninth-best to invest in worldwide. According to a survey by PAIH, Grant Thornton and HSBC, 94% of those who have invested in Poland are satisfied and would do it again. As a business-friendly country with a diverse economy, foreign investors continue to enjoy rising revenues.
It’s easy to understand why an increasing number of companies are doing business in Poland. At only 9% for revenues less than EUR 2 million, the Corporate Income Tax (CIT) rate is highly attractive when compared to the European average of 21.7%. Companies are not obligated to pay dividend tax, there is low private debt, and foreign investment is actively encouraged. From a tax perspective, local and foreign investors making business in Poland are treated the same way.
Technology and people skills are two significant advantages of starting a business in Poland. With a large skilled labour force, you will find it easy to recruit workers for your offices or stores. The capital of Warsaw serves as the business and financial hub of Central Europe. Companies investing in Poland could benefit from the Corporate Income Tax exemption, which applies to certain business activities carried out within the Polish Investment Zone.
Poland is the perfect choice for selling products and services across all areas of Europe. Strategically located in the centre of Europe, Poland is both convenient and easy to access via plane, train or by road. Part of the Baltic-Adriatic and the North Sea-Baltic Corridor projects, Poland will soon have logistical sea-road links to Northern and Southern Europe. Due to its strategic location, export companies also have the choice to invest East and West.
To conclude, Poland has an attractive investment market with excellent development potential. The general business outlook is both modern and open, making this a prime country for a wide range of businesses, especially e-commerce. If you are considering opening an office in Poland, which would require the relocation of staff and their families, Poland makes this process easy. The rules around work permits have recently been simplified.
Company formation is simple in Poland and often takes less than a few weeks. When it comes to business structures, there are several to choose from, including a limited liability partnership and a limited liability company. If you are already EU-based, you will have the additional choice of a civil law partnership or a general partnership.
Translating your website or application into Polish will help you expand your customer base in Poland, increasing your brand presence and sales. With accurate, high-quality English-to-Polish translation and localization, you can convey your brand effectively to Polish customers.