If you are an entrepreneur and have been recently thinking about expanding your business and introducing it to foreign markets or possibly setting up an entirely new company, you might want to consider Poland for that. Why so? Let us now take a closer look at the main reasons for investing there:
– Poland’s strategic location in the heart of Europe, where major communication channels intersect making it possible to expand your operations both to West and East of the continent,
– access to the Baltic Sea and several major seaports,
– EU member state and a gateway to the EU single market with over 400 million consumers,
– approx. 15 international airports with several of them offering intercontinental flights,
– Chopin Airport in Warsaw as the country’s largest airport and the main air cargo transportation point,
– well-developed road infrastructure with multiple motorways, expressways, and national roads
– numerous innovative solutions used in business, such as digitalized tax system or modern e-banking system with instant BLIK payments,
– attractive labour market à well-educated professionals in the areas of economics, science, information technology with fluency in foreign languages
– competitive labor costs à employees under 26 years old employment income up to PLN 85.528 per year is exempt from tax,
– low unemployment rate (at 5 % in 2023),
– Poland’s wide expertise in a range of industries including wholesale and retail trade, food industry, accommodation, and transportation,
– many new fast-developing economic sectors with great potential for future investments, including business services sector, automotive, electromobility or even medtech,
– economic stability with constantly growing GDP and expected to reach 1,003.03 billion USD by 2028 according to recent studies,
– business-friendly environment à regularly offered governmental grants and subsidies as well as other forms of investment incentives, such as tax relief within special economic zones or support for R&D activities,
– access to a wide range of EU funding programms,
– no requirement for the establishment of a so-called local resident director / Polish board member à both board members and shareholders can be foreigners; a shareholder in the form of another company is also possible,
– tax incentives, such as:
– 5 % of tax for income derived from IP rights in Innovation Box scheme,
– Research and Development (R&D) tax relief allowing to increased deduction of eligible costs from tax base,
– 0 % of tax for profit retention (Estonian CIT),
– preferential CIT tax for a new limited liability company amounting to 9% in the first tax year,
– a reduced 9% CIT rate can also be used by small taxpayers who do not exceed the established revenue and sales limits (in simplified terms – EUR 2 million),
NOTE: the 9% rate can be applied if company fulfils other statutory requirements.
– multiple rankings that Poland ranks top in, such as “Global Best to Invest 2023” where Poland came 3rd among all of the Eastern Europe & Central Asia countries in terms of favorable investment conditions.
We hope to have encouraged you to consider the idea of starting or expanding your business in Poland given the many benefits related to it. Its strategic and favorable to market operations location, dynamically developing economy, innovation potential, skilled workforce with wide expertise in many areas as well as multiple grants and other forms of assistance offered from both governmental and EU level all contribute to its constantly increasing attractiveness for investments.
