Suitable business Poland

Chapter 2

2.1 Introduction

In this chapter, we will explain which business type is most suitable for Poland. This decision will be made according to the conditions given.

1. Most Suitable Business

The most suiting business type in Poland according to the conditions given would be to setup an LLC (Limited Liability Company). An LLC is the most convenient and most secure investment within the price range. With an LLC, you are able to setup a company without endangering your personal assets in case of an accident. It is also the cheapest and most profitable company profile. To start the business in Poland, the initial investment necessary is 5000 Polish Zloty, which his roughly 1175€, this investment may be shared amongst several investors. If you hold majority on the initial investment, you own over 50% of the company, giving you the majority in the decision making process, while still being able to consult partners in order to help making more reasoned decisions. It may be established online within 24 hours online for a Polish national or a foreigner with a PESEL (Polish personal identity number), but is less suitable for foreign entities who do not hold a PESEL.

However, standard procedures for foreign entities take up to three months and needs to take place in Poland. The first step to establishing a business is to sign the instrument of incorporation in the form of notarial deed which needs to take place in Poland in presence of a notary public, a statement for the company's shares is also signed at that moment. The company must also be registered in the KRS (National Court Register), the procedure is the completion of an application which can be found at the court or on their website, a NIP (tax identification number) and a VAT number need to be issued.

A bank account proper to the company needs to be opened. Every entrepreneur needs to pay social security contributions and health insurance in order to issue a ZUS certificate (Social Insurance Office certificate). Within the first 30 days after the company commences its activities, the National Labor Inspectorate and the State Sanitary Inspection need to be informed of the location of the premises, its operations, and the number of employees for an inspection.

1.  Conclusion

The most suitable business model for Poland would be an LLC (Limited Liability Company).

Chapter 3

3.1 Introduction

In this chapter, we will discuss what role the owner will have, and the role her partner(s) hold.

1. Positions and Powers

In order to keep decision making power, you must be elected as manager, the idea would be to find silent investors (investors who can't be bothered by the operations, and only want the return on their investment). This goes through the operating agreement which needs to be drawn. Other responsibilities include book keeping, record keeping, and paying taxes. All members (investors) have the power to sign contracts and make day-to-day decisions, which is why it is important to elect a manager in order to keep control over who has what to say. This turns members into limited partners, they do however hold the right to vote and receive financial rights (based on capital distribution

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