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Krakow sights

Krakow, Poland - the economy matters.

Standard & Poor's rates the city of Krakow BBB+

Krakow is Poland’s fourth biggest manufacturing center, with steel, tobacco and pharmaceuticals being the key industries. At the same time the city is second only to the capital Warsaw as regards the service sector. On top of being the country’s prime tourist destination it boasts headquarters of 6 banks, 15 major institutions of higher education, and plethora of consultants, stockbrokers, etc. Krakow is also home to many of Poland's leading software firms. In the last decade the city has become the world's major outsourcing destination.

Tips for the Business Visitor Coming to Krakow

Visitors from member-states of the European Union and NATO do not need visas to enter Poland. Otherwise, when a country wants Polish citizens to acquire a visa the general rule is that Poland requires citizens of that country to secure one for admission to Poland as well. The EU's nationals may become residents of Krakow practically right away while other aliens need to apply for temporary or permanent residency. [See also tips on employment, transport, communication, currency, paying, weights & measures, business hours, holidays, dates and numbers, and local customs]. 
More tips for business visitors

 

Taxes in Poland 

As a rule expatriates and natives pay the same taxes in Poland. Of course, there are exceptions and they benefit the former. E.g. the country has tax treaties with 60-plus nations, including the USA,  which ensure no income is taxed twice and lower taxes apply. Value added tax (VAT) is included in the price of almost every product and service you purchase. Excise duty is a ‘sin tax’ of sorts, included alongside VAT in the price of such products as cigarettes, liquors, motor fuels, etc. Companies incorporated or headquartered in Poland are subject to corporate income tax (CIT) of 15 percent. Personal income tax is paid both by Poland’s citizens and by permanent residents. 
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Investing in Krakow 

All companies incorporated in Poland are equal before the law of the country. And Polish corporations can be owned altogether and run by foreign shareholders, while full repatriation of capital as well as after-tax profits and dividend earnings is guaranteed. At the same time Poland's competition law, the protection of intellectual property, bankruptcy law, etc. are nowadays up to the Western standards. 
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Foreign Direct Investment in Krakow

Poland’s labor costs stay at a third of Germany’s, and the country boasts a sizeable and fast-expanding internal market, enjoys a healthy GDP growth, and remains a model of political and economic stability in the region. No wonder foreign investors flock: from multinationals to fairly small enterprises. If you want to jump the bandwagon, Krakow appears a particularly good place with some 8.5 million people living within a radius of 100 km. And the city is situated at Europe’s crucial crossroads between Germany and Ukraine and between Scandinavia and the south of the continent. 
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Krakow's Real Estate 

In Poland foreigners can freely buy apartments or plots up to 0.4 hectare (i.e. about an acre) in urban areas. They may also inherit any property. Otherwise acquisition of real estate by an alien requires authorization from the Ministry of Internal Affairs, easily obtainable in most cases. It applies to individuals as well as companies whenever foreigners hold the controlling interest. 
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Krakow's Biggest Industrial Corporations

In 2005 nineteen Krakow companies ranked among Poland’s 500 biggest corporations, i.e. with sales exceeding US dollars 50 million a year. Bank Przemyslowo-Handlowy PBK S.A., with its headquarter in Krakow and branches all around the country, proved to be the tenth largest Polish business owing to its annual turnover exceeding US dollars 1.3 billion. Yet Mittal Poland, former Sendzimir Steelworks, has remained the biggest employer in the city with over 9,000 on its payroll despite the recent massive reductions due to restructuring. 
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Krakow Old Town Historic District  

Poland's prime tourist attraction and a must-see in Central Europe boasts numerous world-class monuments, charming vistas, delightful atmosphere, and the best restaurants–everything easily available on foot. 
Go to Krakow's Old Town historic district 

Shopping in Krakow 

From designer garb to jewelry, and from antiques to books and CDs–Krakow’s central Old Town historic district, turned into a pedestrian precinct, teems with stores of all sorts, crammed into every available space.  
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Good restaurants in Krakow 

Krakow has always been Poland’s gourmet Mecca. And the recent decade brought about a genuine restaurant explosion all over the city owing to the hectic efforts of aspiring restaurateurs–native ones as well as immigrants. The Old Town historic district seems virtually stuffed with establishments catering to all kinds of diners.  
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Krakow General Data: 
Geography, Weather, Local Government History, Culture, Environment, Wildlife, Province,

Basic Krakow info for visitors

Poland
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Malopolska Province

Krakow's Transport
How to move about the city.

Travel to Krakow

Good hotels in Krakow

In the proximity of Krakow
Krakow is Poland's tourist mecca, and also a gateway to many other must-see sites in the region.

 

 

 

 

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