Procedure, cost and time-scale of incorporation of Limited Liability Companies (Spolka z ograniczona odpowiedzialnoscia) in Poland (2006)
Procedure:
- Preparation of a draft of Articles of Association,
- The signing of the Articles of Association in the presence of notary public attesting the signatures of the founding owners,
- Provision of specimen signatures of individuals occupying positions on the Board of Directors (in the presence of notary public attesting the signatures),
- Opening of a business bank account,
- Transfer of the Share Capital,
- Registration at the National Court Register (KRS).
Documents required:
- Passports or national IDs of directors and shareholders,
- Certificate of Incorporation of each corporate shareholder with its official translation,
- Certificates of Power of Attorney for attorneys.
Minimum share capital: 50,000 PLN (12,500 EUR/ £ 8,700)
Total cost:
From 4,000 PLN (1,000 EUR/ £ 700) to 13,400 PLN (3,350 EUR/ £ 2,300); 6,400 PLN (1,600 EUR/ £ 1,125) on average. Estimate made for a company registered with 50,000 PLN share capital; exclusive of any VAT (if applicable).
The total cost consists of court registration fees and fees for announcement in official journal, public notary remuneration, stamp tax, legal advisor’s fees and official/sworn translation fees.
Duration: from 4 to 10 weeks on average
Subsequent or simultaneous registrations:
- Central Statistical Office of Poland (GUS),
- Tax Office (Urzad Skarbowy),
- National Insurance Contributions Office (ZUS).
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