Limited liability company – best way to start your business in Poland.
The most popular form of company established by foreigners in Poland is LLC – Limited Liability Company (sp. z o.o.)
Main features of a Polish limited liability company (sp. z o.o.) are:
• the most suitable format for small and medium sized companies
• minimum share capital is 5000 PLN (around €1200), to be fully paid up
• LLC is a legal entity
• may be established for any purpose allowed by law (including conducting a business) unless other is provided by acts
• minimum number of directors is one
• no restrictions on foreign shareholders
• books of accounts to be prepared in PL language and according to Polish law, has to prepare monthly VAT returns, payroll documentation, annual financial statement and annual CIT declarations
• taxation – CIT (Corporate Income Tax) and VAT
More information about LLC in Poland