basics of investment in Krakow.
Everybody is free to do business in Poland
regardless of nationality, and only in the case
of a handful of sectors deemed most sensitive to
national security – i.e. more or less the
worldwide standard medley from defense industry
to TV – either there are certain restrictions or
concessions are required. At the same time no
industry is closed to private enterprise.
incorporated in Poland, no matter who owns them,
are equal before the law of the country. And the
Polish competition law, the protection of
intellectual property, bankruptcy law, etc. are
nowadays up to the Western standards.
Since Poland is a full
member of the European Union the country's law incorporates
all basic principles of the community and most of the EU
are usually lower than in other EU countries, except VAT that
amounts to 23 percent on most commodities and
corporations can be owned altogether and run by
repatriation of capital as well as after-tax
profits and dividend earnings is guaranteed.
investors may launch (or buy a share of) a
limited liability company or a join stock company – with Polish partners or without. They
may also establish a branch or a representative
office of some their enterprise incorporated
elsewhere. As regards branches, their scope of
business is limited to the core business of the
parent company and their registration is
required, while they are subject to the same
taxes as regular companies.
Rynek Glowny, central square at the heart of
Krakow's Old Town historic district remains
the city's social hub.
for foreign investors:
1. You need a lot of patience in dealings with bureaucracy –
in Krakow as everywhere.
2. A knowledgeable native helper with connections
can prove pretty instrumental in cutting through
the red tape.