Poland has proven consistant growth and development over the past few years. Today, more and more entrepreneurs are beginning to see the country’s economic potential and are not afraid to start their dream businesses in the country. If you would like to start a business in Poland, this text will highlight one of the available options - online company formation.
The formation of a Limited Liability Company (LLC) in Poland can be done using two ways, i.e. the standard/ traditional way and the electronic/ online way. The standard process normally involves lots of paperwork and requires your physical presence while the online method is a simplified way you can do remotely.
If you wish to incorporate your company online, all important members of your company (founders, shareholders, and directors) should have the following:
- a Polish electronic signature;
- a tax/ personal evidence number;
- an electronic account with the Ministry of Justice online system
(NB: the online system uses only the Polish language);
- all relevant personal and company formation documents;
- registration fees
To complete the online company formation process, you need to follow the following steps:
- Signing up in the eKRS system as a new user.
Please note: The eKRS can be used by both foreigners and citizens of Poland.
- Collecting all relevant information that will be needed for the company formation process. Information that should be prepared include:
- the name of the company;
- address of the business;
- the registry court the company will use;
- A list of all individuals members of the company's management bodies, shareholders, branches, and also its representatives.
- Entering the prepared data into the application form of the online system. You will be expected to put all information and fill out data required for entry in the court register. Additionally, you should state the activities of your business. You do this by choosing the relevant Polish Classification of Activities code.
- Generating the company formation documents.
- Signing all documents that need signatures, including the Articles of Association. The signing of the documents is done using:
- an electronic signature that has been acquired from a provider of qualified certificates; or,
- a signature that's issued with a Trusted Profile (to be able to register on a Trusted Profile page).
- PLN 250 application in the National Court Register
- PLN 100 for the first entry in Court & Economic Monitor
- Operator, (handling fee).
- Application fee payment using a recommended external electronic system of payment. At this stage, you will be expected to pay the legal fee for the:
Advantages of Poland's online company registration
- One of the major advantages of Poland's online company formation is the simplicity of the process. You don't need to deal with a lot of paperwork as you would with the standard incorporation process.
- Most of the incorporation processes can be done remotely. For instance, the company founders do not really have to sign documents physically in front of a notary. All documents including the Articles of Association can be signed online.
- Since the company founders do not have to sign documents in front of a notary, they do not have to pay the notary fee.
- The court fee charged for online company formation is significantly lower compared to the standard fee. Thus, online company formation is cheaper than the traditional method.
- Incorporating a company online is much faster relative to the standard process. While the standard process takes between 2-4 weeks, the online incorporation process needs less than a week.
Disadvantages of Poland's online company formation
- The process of obtaining the Polish electronic signature and tax evidence number is not easy without your physical presence. You need to be in Poland to get things done. Because of this inconvenience, online company formation is not favourable for foreigners who would like to complete all the incorporation processes remotely.
- Additionally, the online formation processes require the use of standard company incorporation documents found in the s24 system. The document templates of this system are too simple to be used for sophisticated projects.
The time required for company online registration (e.g. for a limited liability company) in Poland is between 1-5 business days.
Company formation services in Poland
The formation of a company using the online method is far much easier if you get legal assistance from one of the law firms in the country. The Polish lawyers will help you through all the requirements that include the incorporation process, tax registration, and opening of bank accounts, etc.