Poland is now an attractive place to open a branch of your company or to establish a subsidiary. It is a country that is dynamically developing in many dimensions. This is a market that is definitely worth your attention.
Poland is a large market for various types of products and services. It is a country with a population of nearly 40 million. Importantly, the Polish economy is growing steadily. Polish society is generally getting richer and is willing to spend more and more money not only on everyday goods and additional services, but also on premium products and services and luxury goods.
Growing sectors of the economy
In addition to traditional sectors of the economy, such as agriculture and industry, as well as the service sector, it is worth pointing out that other sectors are also developing dynamically in Poland.
First of all, it is the IT sector. Poland has many specialists in the field of IT, i.e. programming, IT architecture, cybersecurity. Poland has many outsourcing centers in this area, but also many companies that provide IT services on their own. Polish IT specialists are often the first choice when a foreign entrepreneur considers outsourcing IT services.
Another sector that will develop significantly in recent years is the sector of new technologies, startups and venture capital investments. The main driving force behind this sector is money obtained by Poland from the European Union. It is worth noting that this sector, about 10-15 years ago, practically did not exist. In a few years, we managed to create conditions for the development of startups. This consolidated Poland’s position in the CEE.
In terms of transport infrastructure, Poland has undergone major changes over the last 20 years. First of all, a network of the country’s most important highways has been created, thanks to which road transport is now comfortable and fast. In addition, the railway network is also developed. Every major city in Poland also has its own airport.
Official matters and digitization
Poland has undergone a radical change when it comes to digitization. Virtually the entire banking sector was created from scratch as electronic and digital banking. Therefore, Poland is a country that easily adapts fin-tech solutions. The rapidly growing e-commerce sector and the sector of e-commerce services (fullfilment, deliveries, parcel lockers) should also be pointed out.
One of the most important things that has happened in recent years is the visible digitization of public administration services. In principle, every official matter related to taxes, running a business, setting up a company can be handled remotely.
Legal framework for business
Polish law adapts better and better to the needs of entrepreneurs. As I mentioned above, most business-related issues can be dealt with remotely without the need for physical presence in a court or public administration office.
The current management of matters of companies operated in Poland has also improved. Most resolutions of the management board, supervisory board and shareholders’ meeting can be adopted remotely.
It is also worth pointing out the positive changes in taxation. Firstly, for sole proprietors, the basic income tax rate was reduced from 17% to 12%. Secondly, in the case of capital companies (limited liability company, joint-stock company, simple joint-stock company), CIT (corporate income tax) was reduced to 9%.
Poland has also introduced a new type of company that is suitable for technology companies, i.e. a simple joint-stock company. It is a company with a share capital of up to 1 PLN.
In addition, this legal form allows for flexible implementation of employee stock option plans (so-called ESOP – employee stock option plan).