Poland is among the few EU countries that boasts of a constant rise of GDP. This is owed to its stable economic policies. The country has even managed to gain a 2% growth during difficult times in 2015! The secret to this success are clear business regulations, tax breaks, and readiness to accommodate foreign investors. Poland welcomes foreigners who possess a temporary or permanent residence permit to start businesses in the country. Evidently foreigners are taking advantage of these regulations to start businesses in the country. Types of businesses you can start in Poland There are a variety of businesses you can start in Poland. Other than a sole proprietorship ship, you can opt for either of the following: a partnership (e.g. limited partnership, general partnership, limited joint-stock partnership); a civil company; a limited liability/ shareholding company. All these forms of businesses provide a variety of opportunities. However, a sole proprietorship proves to be the most beneficial at the initial stages. It attracts very low charges,i.e. only 19% income tax accompanied by a flat tax and various concessions. How to start a business? To start a business in Poland, you are required to fill in and provide several documents stated by the law. The procedure itself is not complicated and does not take much time. Starting a sole proprietorship CEiDG-1 registration form This is a very important document, critical for the legal registration of your business. In order to complete this document, you should produce an identification document (e.g. a passport/ national ID) and you have to reveal your entrepreneur's PESEL number. This number can be acquired easily in the state. The other information you may need to provide on the CEiDG-1 form is your residence address and the company's registered office address. You should also be prepared to provide to the authorities a document (tenancy agreement) that gives you legal right to occupy the place you're staying. Furthermore, you are expected to fill out the type of business in accordance with the Polish classification system. A list of codes that classify various business activities is available and you can use the search engine at pkd.com.pl to identify the specific code for your business. After all has been done, you should submit your application for approval. As soon as it has been approved, the authorities may need 2 weeks to complete the registration process. Nevertheless, you can begin to enjoy your business the next day after the approval. To legally start making profits out of your business, you need to have a REGON (RG-1 form) and the company's stamp from the statistical office. You should also visit the tax office. Starting a private limited company (LTD) You can easily start a private limited company in Poland by registering online or completing a company agreement that needs a notarial deed. Here are the registration steps you can take. 1. Registering as a new user in the eKRS system. This system can be used by both citizens and foreigners. 2. Preparing information required for the business registration such as: the company's name the company's address the registry court according to the headquarters of the business List of the members of the management bodies, branches, shareholders, and the appearing party. 3. Introduction of information to the system's application form: entering all relevant data required for the registration process and filling out information for entry in the court register; stating the business activity of the company by choosing the appropriate Polish Classification of Activities code; 4. Generating the required documents 5. Signing the documents. You can sign the documents using: a qualified electronic signature that has been bought from the provider of qualified certificates; a signature that has a Trusted Profile (in order to register on the Trusted Profile page). 6. Paying the application fee using the external e-payment system: paying the legal fee for the PLN 250 application in the National Court Register Paying for the PLN 100, (the first entry in Court & Economic Monitor) paying the operator for the handling fee. 7. Submitting the company's documents for registration in the preferred registration court. 8. Making an entry to the country's National court register. According to the law, the management board of the company should submit a declaration of members of the board that make cash contributions for their share capital to the registration court. This has to be done in a period of seven days from the entry date into the register. 9. With regard to tax on civil law, you should provide a correctly completed PCC-3 document. Additionally, you should be able to calculate the tax and pay within 14 from the execution date of the deed of business formation. Usually, the amount that is taxable is the share capital minus the fee of entry in the National Court Register.