The most ridiculous thing I have read in the mass media lately is the a list of the best countries to start a business or to do business. The is absurd. They list countries like Norway and Canada and Denmark and Switzerland as top.
This is crazy. They talk about stable law and tax codes etc. This is pure madness. Let me explain. The people writing the articles are journalists at best. I only have a masters in Economics but I am an entrepreneur. I am running my own business. The last place I would go is a high cost, high tax area, regardless of how stable the tax laws are.
The best place to start a business – Poland
The highest cost of connected starting or setting up any business is labor. In Poland you have people with PhDs and Masters that will work hard, with creative minds for 3 Euros an hour. Will anybody do that in Canada or Denmark or soft France? Poland’s tax rate is 19% on business, with tax breaks for new and foreign businesses, while the USA, Britain, France, Germany its 40%. Other countries are upset with Poland as they have not “harmonized” their tax rates with the west. Absurd. Low taxes are good, high taxes bad.
What about Scandinavia, even higher taxes and higher labor costs. Maybe five times the rate of Poland, and these western countries have a worker shortage, while Poland and Eastern Europe has a worker surplus and a capital shortage. Read Adam Smith when there is free movement of labor and capital and a condition like this exists. Then you will figure out where the best country to start a business is.
What about infrastructure, Internet etc. Everything is new in Poland. Everyone is plugged into the internet, Poland is being pumped with EU money to rebuild its infrastructure.
What about accounting and laws. Very easy. Its called an accountant. Hire an accountant. Laws are EU laws. Accountants are pennies in Poland. Same laws, better labor for 1/5 the price. Very cheap. To start a company it could take one day and a few hundred dollars. Language-English is the second language in Poland, no language problem.
If anyone, wants to argue with me I am here. Can you honestly say that entrepreneurs are running to high priced Denmark to start a company? Why is Google and other major firms opening in Poland and not Norway? Price. Cost of labor. What is the best country to start a business? Poland. When you see these articles about the best place to start a company, do not believe them unless they tell you the best place to start a company is in Eastern Europe.
235 thoughts on “Best country to start a business”
@Mark: I had accountants in the past, until I realize that they don’t know much – and that I cannot afford those who know much. So I started learning all the regulations myself. Now I only have a remote tax advisor that handles the most tricky tax issues, where you need to have an actual court experience and not only know the wording of a regulation.
Re the environmental duties I mentioned – not a single accountant I knew was aware of them – and now you can find more and more discussions like this one: gartija.pl/forum,dostalem-kare-10-000-zl–za-nie-zlozenie-sprawozdania,10233 (in English: “I was fined 10000PLN for not filing a report” :-)) Note that the penalty is a non-negotiable civil administrative penalty and if you haven’t filed a waste/trash report for 2010 you’ll be fined as well in the coming 5 years. Before 2010 there was only a dead law about criminal penalty for petty offense, which is why you probably didn’t hear about it.
That’s why I recommend to every business owner in this country to trace our local Statutes at Large, i.e. Dziennik Ustaw. In official, but handy, version is shared by the parliament office: isap.sejm.gov.pl/VolumeServlet?type=wdu&rok=2010 and the official electronic laws are hosted here: dokumenty.rcl.gov.pl/DziennikUstaw – note that laws on both sites should be the same, but only the latter is the real source of law.
As for choosing some other place for business, I’m not yet sure – UK doesn’t convince me, I dislike Germany, Australia is far too far, maybe Czech Republic which is not much better that Poland, but still is a bit better in most areas (with one important exception I’m aware of – much higher social security rates for business owners – 45% instead of fixed 800PLN).
Tomek, I had my own issues with trying to define a business I was going to start in Poland and the tax office. But most people I know who have businesses here and I know a lot just work though it with accountants and do not even get involved in the details.
But I am sorry for your experiences.
I have herd Malta and Cyprus is a good place for low taxes, but there are capital requirements to establish residency. I have an added problem that I am a US citizen so there is no way in the world I can avoid taxation. Even if I am a dual citizen living on the other side of the world the US requires paper from me. This is not true of most countries. If you are a Polish citizen living in the USA, I doubt those guys are paying Polish taxes.
I think labor costs are also a consideration. It you have ten employees and in Poland pay 10 pln/ hour which is about 3 dollars an hour it is not bad. If you employ ten Germans at 18 Euro or 23 dollars an hour, your companies costs are really high. So yes taxes are an issue but cost of labor and talent in my opinion the most important factor is finding the best place to start a business. I think with talent and cost of labor Poland is pretty good there is why in Krakow for example there are so many outsourcing centers opening.
In the USA I pay, US Federal tax, lets say 30%, state tax 7% and Zus or self employment tax of 16% then I pay other taxes and fees. 800 pln or 250 dollars is nothing.
Oh and our US ZUS does not give us insurance like in the USA so add another 15,000 dollars for a family medical plan a year.
So Poland is a really cheap good country to live in comparison.
@Mark: Yes, those US taxes are prohibitive, even comparing to Polish taxes plus fines 🙂
But I’m not that sure about medical insurance – I would think that those 15000$ give you quite a good care. ZUS (NFZ), on the contrary, doesn’t give you too much chances of survivial for serious illnesses. Plus you have to pay for dentist anyway, if you want a good service.
I am an American. Many Americans pay more. I just got off the phone with Blue Cross (a cheap provider) in North Carolina (a cheap state) and I have no preexisting conditions and this is about the cost. $750 dollars a month, with a $5,000 deductible plus extra costs.
My brother pays $20,000 a year. Also they can drop you at any moment if you get sick, so then they take your business and house etc. I am a free market guy, but that is why Americans are so upset about health care.
I would rather live in low cost Poland and pay my Zus which I do. It cost $250 but that is a fraction of the USA care and if I get sick they can not drop me. Plus I get a small pension. In the USA you do not get anything, maybe social security. Also my child gets to go to University for free. In the USA to get a magister will cost $200,000 or 1/2 million pln for 1 child.
Why do you think America is revolting politically now? No real income increase in like 20 years if you minus inflation and jobs are going to low cost countries like Poland (which Americans love) and India.
Still, saving 15000$ for 10 years gives a lot of money for private treatment.
15,000 a year every year for 10 years is 150,000 dollars. That is a lot of money. In Poland that is almost 1/2 million pln. I think the treatment is OK but not exceptional in the USA. Polish and US life spans are the same in years.
Tomek I am with you. Do not get me wrong. I understand. I am an unrepentant capitalist. I also believe like Thomas Jefferson said ‘ the government that governs least governs best’. That being said, what can we do. We are weighed down by the burden of government. We have to pay out taxes and they go into a black hole. The productive are penalized. I have a website political-economy.com where I talk all about this. I am basically a libertarian.
@Mark: Thanks for the detailed explanation on how the health care works in the US – it’s a shame you can be dropped, but it’s always a risk with civil law contracts. ZUS/NFZ cannot drop you, but waiting for your turn in a queue can be lethal. I know something about that, members of my family had that “luck”.
Personally I do health checks every year, for my own money, as ZUS/NFZ doctors often don’t prescribe any tests if you have two hands and two legs 🙂 Not that they are bad people – it’s just they also have limits imposed on them.
Writing this, I’m glad that you like Poland and find it a good place to live. I also like Poland as a country, but I dislike III RP which occupies this beautiful land 🙂
Moving to political-economy.com!
I love Poland and I am very lucky to be here. Except for the weather in the winter.
I pay Zus in Poland but go privately often. But you know I have used public medicine and it is not that bad. Basically all the advanced equipment is the same as the US. The only difference is the frills, it is very basic to be in a Polish hospital, but the testing machines are the same as the US.
I see. That seems to tell more about US hospitals than Polish ones I guess, but it also might be that I’m a victim of “wszędzie dobrze gdzie nas nie ma” proverb 🙂
That expression we say, the grass is always greener on the other side of the fence. It is true. I love Poland but things are easier as a foreigner living in Poland than a Polish person raised here. For some reason the same doors seem to open easier for a foreigner in many cases. But I could say that about the USA also. Of course the USA is richer, but only if you are a worker, if you have a job and work in a cube. But if you are a job creator it is better in a developing area where the economy is more dynamic.
Read this and let me know what you think. articles.moneycentral.msn.com/Investing/SuperModels/markman-go-east-and-south-young-man.aspx He is a very respected business writer.
If you need help in starting the business in Poland, just let me know, I will help you,
I’m 27 years old lawyer with MBA,
Thank you very much, I may just do that in Poland.
I am looking to bring business to Poland from Israel and the U.S
if there is interest leave a comment and maybe there can be some cooperation.
I was contemplating on starting a business here in the USA and its not just the cost of taxes,labor,Insurance its more the cost doing business hiring attorney for patents, just out of curosity how are the patent laws and copy right laws in Poland expensive? I was thinking of using Poland like a exporting hub for Europe, North and South America.
Polish patent laws are similar to the US and they also come under the umbrella of EU laws. So basically what you get is the same. You can research most of this yourself actually.
The difference it is a fraction of the cost in terms of attoney fees in my opinion. If a lawyer is 200 dollars in the USA it will be 200 Polish Złoty in Poland. It depends what you are doing?
There are major differences between Polish ( i.e. EU ) patent law and the US. A fundamental issue is that the US has a ‘first to invent’ claim and the EU ( as has much of the rest of the world ) it is ‘first to file’. It is also very much easier to file ‘soft’ patents in the US if you are an IP-related organisation. There are no real barriers of course in choosing the jurisdiction in which you wish to file.
A significant problem in any IP-related endeavour is that the language of choice is English and that US/English law and expertise predominates. I have had a great deal of ( negative ) experience with Polish Law and observe as others have that it is a codified structure that lacks the flexibility of Anglo-Saxon practice.
An excellent law firm in Warsaw is Zadanowicz & Partners ( no connection except experience ) and it is essential that you arm yourself with a good lawyer in Poland. Poland IS an excellent place to be and to do business. Impressive, hard-working, intelligent people with an excellent attitude to life and work. Cracow is a gem of a city and has an underlying sophistication that comes from a millennial history. But, like all aspects of business you need to do reasonable research. Good luck.
I have a family of seven and want to relocate to Europe. I will do online filmmaking classes entertainment. I am also a minister of music with several ordinations. Is residency hard and what about cost of living in Poland. Thanks
Cost of living is less in Poland generally. If you have a family of seven I do not know if I would move to Poland. It is a beautiful but cold country, and the language is hard to learn. Poland is good for businessmen who want to start certain types of business or single guys without a complicated situation. I do know several Americans that have moved their families there and they love it but that was with an established business in place. Residency will be based on establishing a business or connection to the country, in your case the former. Is it hard? If you have a viable business plan and capital no it is not card, but if you just have a website, maybe it would be more. Let me know if you have questions as I can guide you, as I have lived in Poland for about ten years.
I am interested to start a business in Poland. I am Indian citizen and live in London. Please show me, how can I start a company? How do I register and form a company? Can any one trustworthy and reliable firm will help me for formulation of company and Visa requirement? How long will it take to register? What will be the charges?
@Mark – I read it and I agree. Look at the EU – the second biggest debt in history (right after US), shrinking population, – this is the fall of our Roman Empire. There’s almost no hope to reverse the trend – debts are impossible to pay, and birth rate is way to low to reverse the decline in next 50 years. It already happened but not everyone see it, because we humans often see only immediate consequences.
Debt and credit is a huge root of evil. This is because you get want you want now and do not have to pay for it until latter. This fly now, pay latter attitude will eventually weigh heavy on anyone who wants to do anything with their lives in a free market.
The good news is debt itself does not destroy a country’s wealth, only the ability to generate income. Wealth rarely disappears, but rather it is income that shrinks. Debt and collapse is a redistribution of wealth.
For example, what if all the government’s in the world defaulted on their debts. Basically everyone holding this debt obligation would lose. Many people would be poor. There would be massive deflation and unemployment at first. But those holding things like gold would be rich beyond their wildest dreams. They would be able to start their own business and buy of real estate etc.
Government is nothing more than a massive redistribution of wealth monster.
I would like to know if you can assist me and my partner. Our interest is to open a small Taco Shop restaurant,if possible in Krakow near the University. We are U.S. Citizens, and trying to search on Google, but the response is very slow and confusing in some matters. Maybe you can help? Let me know! Thanks
Do you want to start a business in Poland you can and will if you believe in yourself. Many of my friends have done this. It is easy and profitable. Not a problem do not be scared it is all a matter of filling our paper. You can even do it in a day or a week people tell me now and a lot on the Internet. The only problem is you are a US citizen but that is a minor issue it just means a little more paper.
Do not give up.
You can do it. I know it for a fact as many poor people from Turkey have come and set up Kebab shops and they are rich. It is a good idea and you need to just work with a firm in Poland to help you step by step. I can do it myself as I know the system but I highly recommend you work with a firm, if you want to accelerate the process. There is also a department of economic relationship at the US embassy in Krakow. I can give you a contact if you want. He might point you in the right direction.
But I think a private company is 1000 time better. I work at an accounting firm that does this, I trust them I know them, they are good honest people. I can highly recommend them.
You can at least send them an e-mail, they speak English of course. Tell them Mark Biernat recommended you. I do not get credit or anything, but you have a contact. I do not know if they can help as they choose clients based on their workload but maybe.
I think you will need capital of course.
Start a food business in Poland
If you want to do it the cheap way, just rent a place from Gumtree. You will find scores of places that are zoned for small business, and get a Samekid permit from the Polish office, and go to the tax office and get a tax NIP. That is really it. You can rent a place for 500 dollars a month or less. You can get supplies at Auchen or Makro for example and you are all set.
Then go to the office of foreigner affairs and they speak English and you can get a business visa.
It all can be done in 1 day people tell me. Maybe food licenses a little longer but these are just hoops. Do not be intimidated. You have to jump through hoops everywhere you go.
You can pay some student 3 dollars an hour to sell it and you will make tons of cash and have an experience of of lifetime.
Now you might want to put together a basic business plan.
Are there any type of businesses that are booming/on the rise more than others in Poland?
In Poland I see high end retail clothing for women booming as Polish girls are really into fashion and are not starting to get money to spend it on consumer goods. Many other businesses like restaurants are getting too competitive, but there is always room for one more. I think the best business to start is a well researched niche if you are doing something retail. However, if you have the know how I think IT is the best as you are selling intellectual property and leveraging the talent of lower cost Polish IT experts. Also Poles speak English pretty well so anything to do with a call center or anything that is done in the US or UK that could be done remotely.
I agree with the article, not that I am a fount of info but I am an Export Manager in Madrid, Spain. The story is the same because we are the same. It’s quite sad but we make the world what it is.No matter how much you want to “love thy neighbour” economical power is THE power and well beyond any other (political, military, etc.)We are competitive animals and will always wish good for our families before other families (survival),the difference is to what extent you go to do just that.So we do business where labour is cheaper,where there are no human rights,where there are slaves,where life has no value,where others might gain but we lose less,period…
I am a college student in the U.S. and am currently taking an International Business class. Our end project for the class is a 15-20 page paper on a business you would open in a country of your choice. After reading your article, I chose Poland! (: I just have to think of a business…
I think the point is to emphasis a few things, lost cost of labor combine with a highly educated workforce, plus EU standards and law with a government that is very proactive to work with new businesses. People look to known countries to start businesses, but value is always found in a country a little less known.
Hello, I am a U.S manufacturer and my product is pending CE approval and I am considering having a branch of my company in the EU to do some assembly, shipping and warranty work and possibly some fabrication in the form of machining.
I am looking for a country to use as a hub for my product and that requires a infrastructure for communication, movement of product and personnel. Where can I go to further learn more about starting a business in Poland and what would be the next best country. We are also looking at Holland.
If you want I can get you in touch with people in Poland if you are considering a business. I actually teach English at a a place where they help foreigner companies set up businesses. I trust them 100%. If you want I could give you their e-mail and and you could write them.
Thank you mark, any assistance would be appreciated.
I sent you an e-mail, I do not know if you received it? If not I can send you another about business in Poland etc.
What about Bulgaria? The taxes are 10% from the profit not revenues. Simple and clean (or at least that’s what they’ve been telling me). There is a problem with English though, A few are fluent.
Bulgaria is another good country but I think they are a little behind Poland in terms of sophistication, infrastructure etc. But I do not know enough about it as it could have a cost advantage. I just know Polish workers are good and the people are trustworthy as I have lived here. The law is also fair and clear.
If I decide to come and do business in Poland, and live there, will I be comfortable being an African? Are there any problems, ethnic or religious?
In my opinion there are less problems here than you will find in many other countries. That is there are always some people who have closed views but they are an exception not the rule here. I think generally people are pretty nice.
Reading your posts, very interesting.
I live in Scotland but the Economy s at the moment, and I like travel, I went to Poland 18 Yrs ago, it was very nice, Krakow. Now I find myself with a modest amount of capital, and a few ideas. I was thinking Berlin, but then read your posts. I am in the field of media/ computers. Was looking at setting up a IT security related business, how IT savy are Polish people? What kind of life do the cities offer?
Poles are highly wired and IT savey. You can get a great value with IT professionals. A lot of my friends from the States and the UK etc, have stated firms like this. I think Krakow is a hub and a nice place to live. I think you will find it is very easy and profitable to start a businss in Poland. Start small and test the waters, then you can expand. Right now there are better values in the East of Poland for labor but tha does not matter as Krakow is a business center and you can always look to the East once you are set up a little.
Hello I am a 20-year-old business student from Hawaii, I lived and grew up here and Hawaii is very infamous for its high cost of living, unfortunately my father who passed away. He was a successful business man and paid off the mortgage of the house we live in before he passed away. I inherited around $380,000 in cash and just invested it in stocks since stock prices are currently low. I plan to use that money in the future to start-up my own business. Hawaii is a beautiful place and I intend to live here, however Hawaii is not a business friendly environment. There are too many taxes and expenses and the laws limit business practices to generate more profits. I have met many small business owners in my town and they are not wealthy because of the high loss from taxes and expenses. Is it possible for me to open a business in Poland yet, live here in Hawaii and visit there a few times a year to check my business? also what about bringing some of my profits from Poland back here in Hawaii for me to spend some of it, will I be taxed for that or is there a way to avoid that?
I use to be an investment adviser for many years. Although I can not here tell you what to do with you money I personally would do something like this:
Keep at least 50% of it in a diversified portfolio. Something like mutual funds or quality individual stocks and some in money markets even. You know this as you are a business student. However, do not get tempted to sink more than 50% into any venture, sock most of it away. I wish I had done this with more of my savings early on.
Most start-up companies are more based on intellectual capital. A lot of people do not understand this. That is, intellectual capital is one hundred times more important than financial capital.
I have a website about economics called political-economy.com it talks a lot of about intellectual capital Vs. financial capital.
For example, I kind of run some small businesses. I could even apply for EU grants and get money, but I prefer not to. I prefer to use my wits and spend my own money in a very frugal way when needed. I focus on developing ideas more than moving capital around. Maybe I will not be the next Mark Zuckerberg, but I believe in intellectual capital and financial capital only being deployed or used for survival.
Therefore, at this juncture I would go to a PhD or learn languages or use the money to develop your mind. Really, I am not just saying that. This is because, creativity and intellect is the only thing that really matters at this point. You are at the powers intellectually and ready for your mind to expand. Focus on this.
If you want to invest in Poland it is a great country. I can connected you with an honest accounting firm that can sit down with you and show you what you need to know if you want to do business in Poland.
Poland relative to Hawaii is cheap. You can live here at a fraction of the cost or do business for even less. You can employ a good worker for 500 dollars a month.
Poland has taxes of course too, including ZUS which is social medial care. However, the main advantage is the cost of talented trustworthy labor is cheap. If you want to stash money away in a low tax environment there are better places than Poland.
However, if you want to start a business in a low-cost environment with a growing middle class that has not been hit by the crisis, Poland is at the top of my list.
So I think it is more important that you conceptualize your vision of how your business would look like. Will it be a variable cost model or fixed cost? What will it do. If you can tell me, I can give you concrete suggestions.
What you can do is live in Hawaii, and start a business in Poland and visit it a few times a year or less. I know a lot of people who do such things. Again it all depends on the type of business. But it is possible. There are many Polish Americans that do this actually and have done well.
Many hire a local person to watch over the day-to-day operations. The cost of labor is low so that is not a problem. You can find trustworthy people in Poland.
Now here is the thing with taxes.
There are two types of companies (basically):
It depends what type of company it is. Lets say you do a schedule C. That is you are the sole proprietor of the business. Basically there is no tax advantage. US citizens are one of the few countries that are taxed on worldwide income no matter where they live or do business. You have to report all money over 10,000 dollars in overseas bank accounts and profits are taxed, although you have a foreign tax exclusion mostly. That means if you get taxed in Poland some or all will be excluded from US taxes, but it is complex.
If you live abroad like me then you get an exclusion on your Federal taxes to a limit, lets say 90 thousand dollars, and no state taxes. However, this is Polish based income and me living here. If I have a business in the USA I pay no matter what.
So basically the USA will always win with taxes. You can not get out of it. It is unfair but that is the way it works.
However, if you have a true Polish company, that is a business, not a schedule C, but a company. That is very different.You can get around a lot of taxes for a while. I think, but I am not certain, you can structure it basically so only when profits are brought into the country are they taxed. Therefore, like Google, for example, has huge off shore profits, and as long as the money stays in Ireland for example, than it is not taxed. But the problem is they can not bring the money in the USA and use it.
I do not mean to be giving you bad news, but US taxes are a bear. Even if you renounce your citizenship you are responsible for like ten years.
My suggestion is focus on the income generation side of the equation as well as the base for intellectual capital (your brain) and hire some smart accountants that know about deductions and money and they can reduce your tax burden to almost nothing. Lets be honest, people pay taxes in the USA and companies avoid them.
I am sorry to hear about your father.
Hawaii is very nice and is a bit of a dream place to live. I have thought of moving the big Island but the cost and distance is a lot.
Let me know if you have any questions or need clarifications on business in Poland or internationally.
That is what my mother was telling me, when you bring money back to the U.S. you have to declare it and pay taxes. I’m not even sure if it is worth it to do a business in a foreign country if I am not going to live there but the idea is always open and its always good to keep an open mind.
If its not worth the trouble of making a business in Poland with America still trying to tax me then maybe I should establish my business in another state.
I heard Delaware has a good business environment with business friendly laws. Can you be wealthy from establishing a corporation? I am just a first year student so there is really much for me to learn but I did learn about how corporations are established, I was just wondering do the founders of the corporations have a better chance for being President and CEO. As an investor in stocks I know that shareholders must vote for the board members but I don’t know the whole scoop of it all.
I am a Marketing Major. The big island is actually cheaper compared to Honolulu. I live in a community called Kahala and the property prices are ridiculous. Fortunately my father paid off the mortgage before he passed away but the property tax alone is like leasing a home in a decent foreign country or some states in the mainland.
Let me clarify some things for you about setting up a business.
You can be a sole owner, this has advantages like you have full control but the liability is also on you. You you are doing a small business or consulting this is what I recommend. It is a schedule C on your tax return. You can take home office deductions and everything is clear and legal. I do this.
A corporation is an entity like a human being under the law. The liability is not on you, but the corporation. The company is taxed, the you draw income from the company which is taxed again. There are many ways companies reduce their tax liabilities legally. Companies can be private or public. Public being with shareholders.
There are also LLC companies which are somewhere in between. That is they reduce the liability of the owners to protect personal assets but the income flows back to the owners easier.
It also depends if you have partners. Which I do not recommend.
So my ideas is keep it simple. Do not go an set up a company or for sure not a partnership.
Rather, until you are about 30, when you will have a better business perspective, file a tax return with a schedule C. You can take many legal deductions. You can have a home office, buy computers for work, take educational training seminars, travl expense and these are all possible deductions.
Schedule C is one of the best parts of working for yourself. You do have a self employment tax which is a burden, but this is what it is and it goes to your social security (yeah right).
Your objective should be financial capital preservation and intellectual capital accumulation.
Trust me I know what I am talking about. Learn and develop everything you need to know about business. Do not waste your money or enter into partnerships. Do not ‘invest’ in someone elses dream. People always want to put you on their agenda. You need to build the years of experience to give you wisdom.
Then you will understand how to deploy your capital and really have an interesting life.
If you want to know how to reduce your tax liability, talk to an accountant. But taxes are mostly on income not assets, unless you are talking about property.
Therefore, listen, you have no need to set anything up today. Its too early. You can invest and this will make your rich in itself while you are thinking of an idea. But ideas are not thought up they are given to people from above, and based on life experience.
Yes Delaware has good laws as does Nevada and I few other states and other countries. Some people like to off shore their money, but it is still subject to US taxes.
So read my lips, develop and read about business. Read like 100 business books minimum, take them as tax deductions. Ask me any questions you want. Read my blog poltical-economy.com about how to make money and why the rich have money and ask questions.
I worked in business for many years and have my own cottage business.
At this juncture develop intellectual capital. Read Stan Weinstein’s book, on how to make money in a bull or bear market, if you want to know more about stock and combined with quantitative investing like valuengine.com and conservative allocations, your money in the long-term should grow until the time you have a great aha and idea.
If you do not have many ideas check out winwenger.com and image streaming for idea generation. But the most important is do not put the cart before the horse. Do not invest with a partner or set up a company. Learn and study. Travel the world, including Europe. This will broaden your mind and give you ideas.
I know what I am talking about. Rent a flat in Poland for 3 to 6 six months and see how people live on little money and how capitalism is being developed here with little financial capital. Take what you learn in school and leverage it with real world experience that you can not get from some financial advisor in the USA that is just looking to make commission off of you.
What do you think? Let me know what you think of these ideas. But you have a gift of financial capital early on, few people will ever have. Use it only to develop your intellectual capital as this is what matters in economics.
Why not India ?
I worked with people from India for over 12 months when I was hired by one of European telecommunication companies and in my opinion these people are the most lazy wheeler-dealer on the world. Their technical knowladge is on very low level or they are just lazy people. If you don’t support them with training they are unable to do anything. They don’t even want to search solutions in web – just say “OK OK” and then nothing. When you come to see hows work going they pretend surprised.
Many times happened that support team had to code once again (from scratch) whole work because they are unable to do it properly.
In my opinion …. the only two adventages of India employees are:
– low cost
– ability to speak english (more less)
Companies are looking cost reduction these days and that is why many of them is transforming business to India.
With any country that does not have a long history of capitalism there needs to be quality control in place and the people you work with need to be screened carefully for work ethic. I tell Americans the same thing about Europe. That is choose the people with care. Europe has capitalism but many people tend to be more laid back. Very intelligent but a different business culture.
I personally know many hard-working Indians in the USA. However, if your experience was different it was because you were doing business with people directly from India. I have had mixed experiences working with people from India. I think they are very honest, highly intelligent people, but the culture is different from the American business culture for various reasons.
I am Indian.
I am doing business in Dubai- making fuel oil from oil sludge, exporting to Africa and china. More over exporting under garments from India to Dubai. But now, situation in Dubai is very bad.
Now I would like to start a business in Poland . Exporting Cotton under garments from India to Poland or Jewelry shop in poland ( Indian designed gold and silver ornaments)
I think such a business in Poland could do well. The only think that will be a hurdle is all the paperwork around importing it. This you have to work with a professional on the ground that has set up such a Polish business. I personally could do it at this point myself as I speak Polish and know the system a little. However, a foreigner would be advised to use help.
One year is not enough to comment on a country’s potential. You need to wait and learn more.
Mark, I am reading some of your posts and I wouldn’t be so optimistic about income rates in Poland. I have quite detailed reports on income rates dated end of 2008 right in front of me and, honestly speaking – salaries are low, but not as low as you say. Just drop me an email, I will send you the reports (they are in Polish – hope you don’t mind).
I will take a look at your report. Poland is hard to compare with the West. Why? In Poland you get medical paid for as well as pension and education. In the USA you must fund your own retirement, pay 30k a year for 1 year of 1 child’s education and pay large medical premiums. Further, in Poland most kids get grandpa apartment, even if it is small. So my point is all the income you make goes to disposable income and savings, while in the USA people have their backs against the wall. So it is difficult to compare the two nations and earnings.
But the bottom line is in the countryside in Poland you can hire someone for 6 to 8 pln an hour which is about 2 to 3 dollars. That is cheap. In the city it is up to 10 pln which is like 3.5 dollars an hour. So in that context labor is cheap in Poland and the educational level and work ethic is strong. This is why I think Poland is the best place to start a business.
Hi Mark, reading your comments, if you could please email me the same email you sent to Leon regarding starting a business in Poland. I am interested in doing business there and setting something up. What would be the best business to go into? Also I heard dealing with scrap metal in Poland is good profitable?
Scrap metal might be good. I think the best are importing things that are exotic or clothes or food. These are things people always need. However, if you have the mind for it IT and outsourcing is the best.
I am a textile professional from Pakistan and plan to setup sourcing office in Poland, can you please let me know which city would be best in terms of business environment, company formation procedure and time it takes complete the process.
What are you looking to do, sell the items in Poland? If this is the case Warsaw or Krakow. If you are doing something labor intensive Lublin. Tell me more what you are thinking.
You mentioned something about selling exotic products in Poland. I have related questions.
1- What about opening a spa concentrating on tropical herbs products or asian massage (e.g balinese spa) do you think there’s a good market there? While providing service, you sell herbal products as well.
2- How much is the rental charges for business premises?
3- Can you work from home? like having a home spa
I think a spa is a very good idea. There are many rich people in Krakow for example that use Spa services and if it is natural and uses essential oils etc, you have a premium business. Check out some busienss models of companies that do this already in Poland. Holistic things are also getting more popular.
Rent can vary with location and space but lets say you need 800 dollars a month to start.
You can work from home. Not a problem, it is just how you set it up.
Hi. Mark whats the cost of setting up a small restuarant or eatery.
Depends where you have it and how large, but lets say, 800 dollars rent and pay the staff of five 2.5 dollars an hour, plus taxes and fees of lets say 200 a month depending onb how you employ the students, (no ZUS), then you need equiptment and food cost. So lets say your fixed cost is 2,000 dollars a month, and then your food costs is the variable cost, which depends on you. Potatos are cheap in Poland, but meat normal price.
Mark, what about opening a shisha (waterpipe) cafe? In uk and USA im sure you are aware this is very big business. people like to socialise, chill out, nice coffee, drinks e.t.c how are the polish people when it comes to this ?
I think Poles are very much into cafes and there is one or two of these types of businesses, but more for novelty. Poles are like French in that they like to work but like to hang out at cafe’s, take vacations, do beauty treatments and enjoy life. But not as much into novelty businesses as much as say New Yorkers or Londoners, more like Parisians.
mark, what would be the best way to open a shisha cafe over there in nowy sacz. what is the rent like? any smoking law? how much roughly would i need for startup cost?
I agree about Poland being the best place for entrepreneurs to start a new business. I started my own business here as a Business Consultant. I have lived in Poland over four years now. After retiring from my US government job, I settled here with my wife. Poland has the fastest growing economy in the EU.
Opening a business in Poland is very easy, once you know the process and if you have someone to help with the language barrier in the government bureaucracy. I started my business for less than $200.
If you would like help starting your business, just contact me at LinkedIn: linkedin.com/in/nelsonlatwell
I have gone through the entire article that you have commented.but I think India is the best country to start a business now due to economic growth and Infrastructure facilities. We are the business Advisers for Strategic and High End Luxury Market in India and we have an end to end to Procedure to set up a Manufacturing Plant. Retail activities for the same in Southern India.
thank you for your response. my father has just got back from poland and has given me good feedback. he was saying shisha cafe not so good idea. what would you recommend? something that needs a small start up cost.
or what about bathroom vanity and furniture?
looking forward for your reply.
(i was unable to send u a direct email)
I’m from Spain but I live in Poland, I took time thinking about making a business here in Poland, because I think that Poland is a good country to do business, the problem is that I have no experience (27 years old) and I have not much money.
Could you advise me something, or give me some idea?
You do not need money, you need intellectual capital, which everyone has. I would do something connected to Spain, from travel or a language school or a resturant.
I am very happy to have come upon your article because I am thinking of registering a company in PL.
I am interested in starting a clothing company in PL, producing there and then selling across the EU/USA. What do I need to register a company in PL? And would you happen to know what do I need to put into order to sell across EU/USA etc?
Many thanks in advance.
This is a very idea as I have personally heard Germany manufacturers are looking at Poland over China to produce things as the cost of China is rising and Poland is EU which means it is transparent boarders. You produce something in Poland and sell it with no restrictions anywhere in Europe. You can outsource the production or do it yourself.
I need more information on the scale of production and where you live etc. Do you have designers or anything? Not a problem in Poland there are great ones at a low-cost. My friend designs bras and sells them in France for example and in the Polish market. You have to know the styles of each. Just tell me more of what you are thinking?
I am interested to set up a steel scrap export company in Poland is it a lucrative job in Poland.
I think it could be but you would have to know the business and know who to export it to. I would start with a business plan to see if it is feasible.
I read your article and all the comments below. I am Greek (33 yrs old work in Tourism) and my wife is Polish. We live in Greece but are considering moving and setting up our own business in Poland (Krakow or Poznan). We are thinking of a Tour Operator specialising in Greece or a Greek restaurant. what do you need in terms of capital in order to start operating?
The short but honest answer is you need only one type of capital to start a business. That is intellectual capital. I am not being sarcastic at all. But think about it the way the world is today you can start a website and have all software and OS for your business for free. For example, I use Puppy Linux and do everything in the cloud. I just need my brain. To start a business you need and idea and creativity more than financial capital. Again I am not being rude or anything. To fill out the paperwork it is only a few hundred PLN at most and then you have to pay taxes. But there is exlusion and exceptions on new businesses. So I would count on the financial requirements low maybe a few thousand złoty a year.
If you want a physical office rather than a virtual office then rent will increase your fixed cost, but most travel places have small kiosks rather than large areas to rent. But I think the best store is a virtual shop rather than anything else.
So if you are creative to start a business in Poland and run it for a year, maybe a 1500 dollars of fees and taxes if you set it up right. In my opinion that is not a lot. Lets say 100 dollars a month for ZUS and 300 dollars for set up fees.
Use an old laptop – opensource software and do everything yourself, rather than relying on firms that charge.
I’m Polish, living and running my own business in Warsaw, Poland – Mostly working as subcontractor firm for large international consulting corporations and Private Equity firms. If you have any questions regarding investing in Poland I could be of assistance.
There is a number of different types of enterprises in Poland. The most basic one is “a person undertaking business activites” – this is an unlimited liability company. Starting such company is very easy – at least for Polish people, since few days ago it is possible to start it online! Before that, all you needed was to go to the town hall and fill in few papers that are relatively easy to complete and if not – there’s always someone in the town hall to assist you. If you want an accountant to run your books, it’s best to have a deal with them, before starting a business since you fill in information on who’s running books and where. You need to have an address in the district in which you are filing for starting a company. You don’t necessairly need to rent an office – an agreement from the owner is sufficient. I know cases, where accountants agreed not only to run books, but also provide address for the company for a small charge. If your company is subject to Value Added Tax (VAT) you will be charged 170 PLN (1$ = 2.7 PLN)for entry to registry. As a “person undertaking business activities” you will also have to pay monthly payment to social security system “ZUS” – polish people pay for the first two years of running a business around 415 PLN/month and over 1300 PLN/month later. If you have an accountant, you will have to pay them 150-250 PLN monthly. I highly recommand hiring an accountant company since in that way they are liable for any errors, not you. In this type of business you are subject to deductable 23% VAT and income tax which can be either 18% of profit under 80,000 PLN anually and 32% above 80,000 or 19% flat CIT (independant of annual profit)
Great detail here on the cost of starting a business in Poland, thank you.
In addition to this the only thing I can add is this:
It is a detail about general living costs in Poland on a day-to-day basis. You can drill down to specific cities like Krakow or Warsaw also. These are just averages mind you, so you can go cheaper if you like on certain things if you need to save money on consumer goods.
I agree with Rafal, now you can start a business online in Poland and further, there are many good accountants that will help you. Therefore, if you are thinking of starting a business here, do not worry about the logistics of the set up and in my opinion the set up costs are not that bad either.
You can also start a LTD. company (Spółka z ograniczoną odpowiedzialnością Sp. z o.o.) – the requirements are: you need to go to “notariusz” (a type of lawyer) and let they put down the act of extablishing of company – there can be several stockholders in it. The service costs depending on the initial capital of the company – from around 400 PLN upwards. The lowest seed capital of the company is 5000 PLN. You don’t pay it to anyone – you just have to state that the comapny has such initial capital = money to invest and to spend. Than, you go to a court for business affairs and fill in several different papers, stating all the data of the company, naming the board, listing the employees and other. This is complicated stuff and no one in the court is really going to help you out with that. If you fill the papers not properly, they will be returned to you after a week or two to correct mistakes. You have 6 months to register an establishement act and it costs 1500 PLN. An accountant will charge more for running LTD company books, probably from 600 PLN. The prices in large cities are higher. As a shareholder you don’t have to pay ZUS unless you list yourself as an employee of the firm. You can name yourself as a managing director as your function in the organisation and representative person without being hired by your company. If you plan for your LTD company to make a profit, it will be double taxed. First, the firm will pay 19% of CIT and than if the company pays you as a person a dividend from its profit, you will pay 19% of capital gains tax. LTD company is also payer of deductable 23% VAT. This is a safe type of a company and often good one for startups that will not be profitable, or will be reinvesting it gains without showing any profit (and will not pay income tax)
From other types of companies, one most interesting is a mix of LTD company and person undertaking business activities. in this mix there are two parties of a company – one that is liable for all the activities of the company, and second, which is not. The name of a mix is “Spółka komandytowa” and if you make the party liable to be a LTD than “Spółka komandytowa z ograniczoną odpowiedzialnością”. This mix allows avoiding double taxation and at the same time provides limited liability. Establishing of one of such firms is more complicated and more costy, so not necessairly good for small businesses, but a great idea for companies operating on large scale, taking high risk and paying big amounts of taxes.
I am a 29 year old male from america looking to start a wholesale business in Poland i do not speak any Polish or have I been to Poland. Do you think I will be able fit in to the Polish business world?
Yes in Poland you can do business with no Polish, but only English all the UK people do. Poles are great business people and entrepreneurs so except for the lack of capital it is no different than competing in the USA, except labor is very cheap relatively. Also I would say maybe the markets are not as developed so there is more opportunity.
I am from Lebanon.
Can I open a business in Poland alone? Or do I have a share it with Polish person?
I’m thinking to open a small Lebanese restaurant in Wroclaw, I can invest around 50,000,00 USD is it enough ? And is it good business in Wroclaw?
You can open one alone without a Polish partner, and that is more than enough money, but you are the one who has to have the entrepreneurial vision not me. I have ideas but it is your money and you have to drive it, including going to the Polish Urząd and find out the next steps.
Good to hear that I can open my own business alone, I am living in Lebanon but I have a Polish girlfriend we know each other since 5 month and we meet before 1 month in Marmariss , so now we are talking about marriage, for that I am thinking to open business in Poland then we will marry, so what i have to do to get business visa or other visa I really don’t know .
I am a Insurance Consultant in American company but in Lebanon. And I had two pub’s so is it good to open a Lebanese restaurant in Wroclaw ? Or a pub? Can I rent a open roof in the city to open a roof bar? Can you give me your opinion about other business without risk.
There is a room for any kind of business in Poland.. and you will find a lot of interesting and skilled people to help you out running your business.
I am from Singapore and i was wandering about residency requirements in Poland. Setting up a business seem to be simple enough with relatively low capital requirements, however, does that guarantee a residency visa? Or is there another process to that?
Setting up a business has nothing to do with a visa. Two different ideas, however, if you are a job creator, not just a business owner, than a business visa is not that hard.
Mark, I’m from Southeast Asia. Is a business dealing in IT and software products good in Poland now?
Yes but you need to be more specific, what are you trying to do? There are scores of Polish IT wizards and the market is big but what are trying to do with software?
We intend to distribute software/hardware products from Asia to the Polish market. What do you advice that we do before we take the plunge?
I can not imagine how you could enter in this market, as Poland is a very competitive market. What is your software about? I can give you advice as I know the market well.
Some truly well versed advice you have graciously penned. If I could request you to also contact me with accountant recommendation for firms here in Krakow, I would be most appreciative. Again, many thanks for the clear and positive advice.
jesiolowscy.com.pl – I use to work there and they are the most trustworthy and fair people I know. They speak english their website is in English and I personally would use them for service if I was to start a business in Poland.
biuro AT jesiolowscy.com.pl
Might be an e-mail contact you could start with.
We are also looking at starting a business in Poland.
We live in Australia, my wife is Polish (polish passport} I have a British passport. We often do seasonal specialized contract work in Germany, Belgium, Holland etc.
We have spoken with one accountant in Krakow for advice. (My wife has family near Krakow) We were informed that some research will be required for deciding our best options & to expect a reply in roughly 4 weeks. We were told to expect a charge of about 130-160
PLN per hour for them to do any research or bookwork. Is this a typical rate per hour? We are not sure weather we should continue or find another accountant?
jesiolowscy.com.pl go here to compare or use their services. I worked there for many years and they are trusted 100%. You can even say Mark Biernat sent you if you want but you do not ahve to. The lady I think you would deal with would be Chistine. They are in Krakow. I know them personally and they speak English, but most important are highly ethical.
Just by chance I have found your site and comments. I am a Polish lawyer providing legal aid to foreigners.
Many thanks for your enthusiasm, it’s so optimistic :-). And I totally agree with you, I find foreign businessmen in Poland happy and succesful.
As regards the food business (restaurants, shushi cafes etc.) do not forget about the north of Poland. Sopot for instance is a perfect place for such business 🙂
All the best for all of you, I keep my fingers crossed for the businessmen who bring the enthusiasm and fresh ideas to the country 🙂
OH, Mark and I’ve forgotten what I wanted to write at first! Polish government should definitely pay you for such a good marketing and promotion. And you say that it is you who pays all the ZUS’es, taxes and others…Unjust! :-)e.
Thank you for the kind words. I believe in Poland and the people there. Even when I am in the USA, if I meet someone from Poland, I know their work is trustworthy. Maybe this is not 100% of the time of course but there is a reason Poland is one of the fastest growing economies in the EU (maybe the fastest). Even since 2004 when markets opened up, you saw it for yourself how rich and transformed Poland is becomming.
Hi Mark I have a business in UK, I am an Indian National with indefinate stay status in UK.
I want to setup Digital Marketing business in Poland, where I can benifit from low cost staff there, I have few questions
1) Do I need to reside there to set up a business?
2) I plan to move only once I know business is fully operational and profitable. So the idea is to setup business with frequent visits.
As you know now day most of the things can be controlled online it will not be an issue to manage remotely.
What are your views and suggestions will be much appreciated.
You do not need to live in Poland to have a business there, as you will have a business address. I recommend you talk to an accounting firm to help you set it all.
Interesting topic for me as I will soon come to work in Warsaw hardly waiting, because I lived there many years ago and I liked it very much, I speak language very well… Unfortunately I dont know how old is this conversation, as there is a lack of data….
I am from Slovenia – EU member and I work here as a consultant of one company. I am working as a sole proprietor and have contract with my client, who now decides to open branch in Poland and I would become director of this branch.
Can I work as a director of a polish company as as foreign sole proprietor?
That would be the easiest way for me as I would like to stay insured in Slovenia, I would just additionaly pay health insurances in Poland to be insured there? Is this possible? I will come to Poland only for 1 year that is why this would be nice solution for me.
I think yes, as Slovenia is a full EU member no problem whatsoever. To stay insured that is easy. Foreigners usually buy insurance from a company like ergohestia.pl or pay into the Polish ZUS system which I think you will have to do so it will be taken care of. If you want to stay insurance in Slovenia are you talking about public insurance? I am an American and Polish and it does not matter if I get treated at a Polish hospital or American at this point. Maybe ten years ago it did not now unless it is something very specific 99% chance the procedure and medication are exactly the same. Really, America is the center for medical research but the technology and procedures are exported to the world and the EU uses them. Maybe the beds in the USA are softer but who cares.
Mark, Thank you very much for the answer,
Yes in Slovenia I would like to stay insured in public insurance system and pay additionaly to be insured in Poland. So if I go to ergohestia or pay into the ZUS it is the same? In case of emergency every hospital would take me and I would not need to pay additionaly?
In Poland they would not turn anyone away as it has social medical care. If you want to keep Slovenian insurance you would just continue to pay it, but I think since you are a citizen you are covered anyway. I mean there are homeless people in Slovinia and Poland and I know for a fact they are covered with insurance in Poland. The goverment has another accounting category for them but some how everyone is covered.
Zus is more comprehensive but lower quality. Private is better but has limits you have to talk to the insurnace agent, they should speak English.
I think all you need is basic hospital coverage which you do get with Zus and will have to pay anyway I think. Then if you have anything else you pay out of pocket, that is what 99% of my friends do in Poland. But most hopistals are public but not all.
I am a Foreign Exchange Retail Trader and I have developed a program specifically for beginners to learn a good soldid foundation for trading the currency market, before they start and get their fingers burnt.
would I need the site to be in Polish – Do you think their is much interest in the subject there?
Do you think there would be enough interest to hold workshops on the subject?
Thanks in advance
Polish love trading and have been into this for years.
@Dawen, FOREX trading these days is 100% manipulated and controlled by governments, flipping a coin is as good these days.
Hi, Mark, and everybody else following this thread.
I am very interested in finding out how easy would it be for me to start a fast casual restaurant in Poland, medium, stylish and fresh.
How much is the average salary for restaurant staff, per year, let’s say?
And how easy would I find a nice location in the capital city, for instance? Or would the north be more proper? What sort of rents would you think of for such an attempt?
Thanks in advance.
You can pay 6 pln for a worker in Poland so that is 2 dollars an hour, while waiter and waitresses can be paid 4 pln so like $1.25 and hour becase they get tips. You would need at lest two cooks and two preps if you are a day and evening restaurant. The waitresses maybe 3 and one optional hostess or greeter. You can pay more if you like. You can employ students and not have to pay ZUS insurance I think, but if you did your social security tax, lets say would be about 250 dollars per person.
The main expense is the rent. If you are in a major city expect to pay $3000 dollars in a prime location and this all depends on size. You could pay as little as 300 dollars in a non central location for a little place.
Any one interested in Environmental and Infrastructure business in Poland, or the Balkans?
I have over 17 years expereince in the US, Europe and the Middle East
I have a booking agency related to entertainment. We book artist and musicians from around the world. But our market is so small, because we are based in Lebanon, and less venues, less population and different tastes.
Even we tried in the Middle East but huge competitors are there.
We also produce and promote musical act for casinos and we brought kids show from USA and also from Europe, to Lebanon in previous years.
Kindly what do you think if having entertainment services in Poland, with the experience of organizing concerts and events?
I think you should try a cultural city like Krakow, Poland by contacting the city government and a major event website like krakow.pl which has an English language portal and contact. Lebanese culture would be an interesting addition to the cultural scene of Krakow.
I am a citizen of Thailand, I would like to start a e-commerce website for selling products in Poland, you think it a good idea, what are the procedures, for setting up a company, visa regulations, taxes, employees etc, do let me know.
You need a visa, then create a business plan and submit it for aproval with the Uzad and then pay 800 pln ZUS a month and submit monthly income reports to the tax office but an accounting firm can help you do that. So the first step is to work on your business visa at the office of immigration. But they do not hand them out to anyone, you have to have a lot of money and a business in operation.
I am from India based in city Chandigarh and have learnt from no of different reports published online about your sweet and progressive country. I feel interested to be part of the developing nation by contributing in its business activities by starting my small entrepreneurship ie: Indian Restaurant, Textile/ Cotton Yarn Trading, Steel Scrap or any other trade for initially small investment.
We be obliged if i get an opportunity in any of the business field to enable me to plan our visit to your country to commence the concerned business activity.
I am from Canada,and We have small successful game company, (7 to 10 people)
I was looking into India to expand my business to,
But I started learning about Poland,
It seems to me some say it can be complicated to start a cooperation in Poland and some say it is easy.
As a Canadian citizen to start cooperation in Poland(most likely a tech company),
What scale do you want? I mean if you go with the official route you could get EU money. But you will have to pay taxes, set things up etc. I recommend hiring some guys off of Gumtree or from the Universities. You can pay them like 10 pln an hour or by project like an elance.com They all speak English. India in my experience is harder to do business with as the people you can connect with that would do Western quality work demand American wages. The others are harder to find.
In contrast Polish workers are very high quality, you just need maybe one project manager to control the process. It can be done in a spreadsheet and map it all out.
You want to oversea the process with Polish tech students or 20 something guys doing the work, that will be a fraction of the cost back home. You can transfer money directly into their bank accounts or paypal them.
If you want to get official there is a contract in Poland that allows for this, it is like a freelancer, you pay them, they do the taxes.
Square foot, it could be cheap like 200 dollars or 100 dollars. It depends where.
I guess I need to know more, what are you trying to achieve.
If you want to be 100% legal and official you need someone to help work you though all this. They like Canadians and people are fair and honest, mostly.
What we do is ,we create casual computer games.
which can take any time from 6 month minimum to a year,with a team of minimum 5 people.
So we mainly work with computer programmers and commercial artists,and animators.
It can be a bit difficult to manage the team if every body is not working under the same roof.
We had more of long term growth plan in mind ,
We are going to put out 4 top rated titles in 2013-2014.
Since we are working in technology we have to grow fast,We wanted to start with 10 people as a test project for 2 to 3 month and grow it fast after that to 100 or 150 in 3 years.
So basically create an almost independent branch of our cooperation in Poland.
SO as you mentioned,there are two options:
1.Hire a small company with a manager.
The cons are : Even though you will pay them monthly,they might undertake other projects as well.And our project will be rushed.
2.Find a business lawyer in Poland.To set all these up.
In this case I would like to know how long that might take? 1 month, 2month.
If you are going with the official higher priced option:
jesiolowscy.com.pl is a company I worked with and they can guide or help you set up a company in Poland and do the accounting. They have a legal staff and accounting and they are very honest and trust worthy.
They speak English also. And know about EU grants and other things.
If you do it the very cheap way of doing it yourself it takes a few steps but is a real cost savings.
If you want to do it yourself yes hire someone like a student someone cheap to help you navigate gumtree or elance.com to get the resources and talent you need. You do not have to pay a lot of money to be all official as your cost will fly high.
I can recommend a girl who is Polish but went to high school in the USA and she could coordinate things for you. She is very trustworthy, speaks English and is generally smart. If this is OK I will write you or you can contact me and I will reply via e-mail.
Thank you very much for your invaluable input with regards to starting up a company in Poland. I had to go through various web sites, and yet the information that I was getting was either not specific or of little relevance to my interest. I was wondering weather, you could help me out to clear out some questions. Soon I will be moving to Germany for at least 3 years for my PhD studies. I would like to start up my own business in Germany in textile industry (I would like to open a small shop and sell textile products imported from either India, Bangladesh, Pakistan), yet I found out that there are a number of barriers: high income taxes, VAT, bureaucracy that could take up to 8 months filling in papers and waiting for your tax number to be issued. I was thinking whether I could register a company in Poland, pay taxes according to the Polish scheme, and still open a shop in Germany? If I register a small business in Poland, do I have to physically be there and work there? As Poland is a EU member state, I think there wont be a double taxation case. I would appreciate any help related comment to these questions. Thank you in advance.