How to register a company in Poland?
Ever wonder what it takes to open a business abroad? All companies must be entered into a trade register, but luckily, these days, it is relatively easy to do so. In many countries, you can do it online with just a few clicks. Once you do it, though, help to provide certified translations will be necessary.
Just to give you a quick overview of how to register a company in Poland and the United Kingdom. Poland may be a tempting destination as it is a member of the European Union (EU) with open access to 500 million customers. Always remember that help may be needed when dealing with official documents such as articles of association or tax returns. Certified translation services will make the process easier to provide true and accurate translation of documents such as certificates of incorporation, registration certificates, industry-specific permissions, company accounts, apostille, and other documentation needed for official use.
The UK government may have different expectations than the Polish one which recognises so-called sworn translators and interpreters. Only a professional translation bearing the official seal of an accredited translator is valid when presenting documents such as birth certificates to the officials in Poland. When doing business in Poland you will need a certified translation of the original document – it is simply a legal requirement.
Certified translations
Companies often need notarised translations or apostille translations used in foreign countries for legal purposes translated by a sworn translator who will tailor to your specific requirements. You need to consider a trustworthy partner providing exceptional certified translation services. Going for a big translation company may feel like a good choice especially after being offered a free quote, but often teaming up with a freelancer may be a better option. Having this one-to-one relationship with a professional translator who will translate and certify your documents may be much more rewarding than working with a translation agency.
Before you decide where to set up a company, think about what is the most beneficial in your situation.
Setting up a company in Poland and the United Kingdom
Here is a quick comparison of company registration in Poland and the United Kingdom. In many aspects, the process of setting up is quite similar:
Registration Process
Poland
A company must be entered in the Central Register and Information on Economic Activity (CEIDG) – which can be done through an online portal.
UK
Registered at Companies House online.
Director Requirements
Poland
At least one director, who can be a resident or non-resident.
UK
At least one director, who can be a resident or non-resident.
Company Forms
Poland
Limited Liability Company (Sp. z o.o.) is the most common.
UK
Limited Company (Ltd.) is the most popular.
but there are some distinctions:
Required Documents
Poland
Relatively straightforward, including personal identification, business activity description, and initial capital declaration.
UK
Requires more detailed documentation, including Memorandum of Association and Articles of Association.
Minimum Share Capital
Poland
No minimum share capital requirement.
UK
Minimum share capital of £1.
Registered Office
Poland
Can be a virtual address.
UK
Must have a physical address in the UK.
Taxes
Poland
Corporate Income Tax (CIT) rates vary based on income levels. Value Added Tax (VAT) is applicable.
UK
Corporation Tax is the primary business tax. VAT is also applicable.
Law
Poland
Polish law regulates many aspects of your business. The agreements signed by companies do not have to be as detailed since it is already covered by the statutes. For example, a standard employment contract may consist of two pages.
UK
Common law applied in all parts of the UK means that the contracts between parties should cover all areas. A standard employment contract may be 30-50 pages long and may contain information from your salary and working hours, to the name of the fire marshal at the premises.
Polish law regulates many aspects of your business. The legal documents produced by companies may not have to be very detailed since the issues are already covered by the statutes. For example, a standard employment contract may consist of two pages. Common law applied in all parts of the UK means that the contracts between parties should cover all areas. A standard employment contract may be 30-50 pages long and may contain information from your salary and working hours, to the name of the fire marshal at the premises.
Certified translator – who is that and why do you need one?
Once you start signing contracts with overseas companies or deal with Polish tax authorities, you will be asked to present sworn translations of your company’s documentation. A certified translation is an official translation of a document by an authorised translator. In Poland to provide this type of language services, you need to be on the list of the Polish Minister of Justice. Using popular online translators for document translation will not be near enough so make friends with a professional who will not only provide texts you can trust but with their professional experience in both countries will also give you useful tips.
Next steps
I am an expert who knows international business and will support you in setting up yours in Poland, translate all necessary documents and put you in contact with the best and reasonably priced lawyers and accountants. Contact me at dorotawalker@gmail.com or arrange a meeting.
Article is for information purposes only.