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Making your Business in Poland a Success

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Poland is one of the most attractive locations for foreign investments as it has an abundance of natural resources and a variety of highly profitable options. Although the country may not have had a sound economy in the past, it continues to grow after joining the EU.
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  • Added: September, 06th 2011
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  • Tags: doing business overseas, international financial accounting, regulatory filings, sas compliance, expat tax advice
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Making your Business in Poland a Success
Poland is one of the most attractive locations for foreign investments as it has an abundance of natural resources and a variety of highly
profitable options. Although the country may not have had a sound economy in the past, it continues to grow after joining the EU. Poland
now enjoys a reputation as one of the quickest growing countries in Central Europe, making it the largest market among the start-up EU
countries.
When doing business overseas, it is always good to know the essentials of the country. There is a large influence of Germany as there a lot
of similarities with the systems of law of these two countries. In the year 2001, the Polish Commercial Companies Code was established.
This code draws a lot of experience from the economically advanced countries like Germany. Being under the Europe Agreement, the code
had to be in accordance to the European law. Labor laws need to be adhered to by all business entities in Poland, and there is also a
minimum wage requirement that needs to be followed.
The main areas of business
The primary exporting commodities here are Machinery and transport equipment, Intermediate manufactured goods, Miscellaneous
manufactured goods, Food and live animals. The main industries in Poland include Machine building, Iron and steel, Coal mining,
Chemicals, Shipbuilding, Food processing, Glass, Beverage and Textiles.
Funding a business in Poland
Obtaining finance when starting a business venture in a foreign location can be extremely overwhelming. It could be essential to know that
that there are more than 450 funding sources for reimbursable grants, aid schemes, individual fellow and traineeships, loans and
guarantees in the EU. Depending on the type of business you set up, it is also possible to float your company on the stock market.
Knowing the Economic zones
There are numerous incentives and tax breaks for investors operating in special zones. The most significant ones involve a fractional or a
total exemption from corporate income tax on revenue coming from business operations carried out in a given zone. After meeting the
initial criteria, an investor can obtain a permit for conducting business operations in a zone. There is a warrant that is granted by the
zone's management, while the procedure to acquire a permit differs from one zone to another.
Overcoming the Challenges Foreign Companies Face
Although there are a number of encouraging reasons for starting a business in Poland, it is very necessary to have a thorough market
research and a well constructed business plan in a business expansion. Partnering with a professional expert can be major boost as you can
get guidance in developing a good business plan that encompasses objectives and forecasts. By employing a professional advisor you can
get expert assistance on tax regulations, i nternational financial accounting , regulatory filings, and be assured that your business operations
are devoid of any obvious hurdles.
Read more on - Expat tax advice , sas compliance

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