Shelf Company in Poland
Poland is a great place for setting up businesses in the European Union. A lot of entrepreneurs and foreign investors establish their corporates in Poland. However, establishing a business in any country can be frustrating and time-consuming. Hence, to save time, entrepreneurs purchases shelf company in Poland.
Buying a shelf company in Poland allows an individual to launch operations as soon as the individual becomes the business’s proprietor while saving both money and time.
In this article, you will learn about shelf companies. You will also learn the advantages and procedures of purchasing a shelf company in Poland.
Meaning of a shelf company
Any organization that was registered originally but did not possess any records of performing operations and, as a result, has had no assets or obligations associated with them is considered a shelf company. A shelf company is a ready-made firm and a legally incorporated business with no operations. The company’s name alone makes it clear that a ready-made business is on a shelf, awaiting to be bought by an individual.
Motives for obtaining a shelf company in Poland
There are a lot of entrepreneurs who would rather buy a shelf company in Poland than launch a new business. This primarily relates to the limitations that incorporating a new business may experience during the first few months of their business in Poland.
Purchasing a shelf company in Poland would help a business to:
- Commence business operations within a few days of emerging in the market.
- Enable a prompt, effective transfer of ownership
- Engage in public bidding on contracts and tenders.
- Seek commercial loans and grants.
Procedure to acquire a shelf company in Poland
Foreign entrepreneurs can follow the following procedure to purchase a shelf company in Poland:
- When considering buying a shelf company in Poland, the new owner must submit several necessary pieces of paperwork before the firm can be properly transferred.
- The corporate Articles of Association must be modified to add the details of the new shareholders, investors, and board members.
- To register the transfer of shares of the shelf company in Poland, a share transfer contract must be prepared and notarized.
- Once all the paperwork is ready, it will be officially registered with the Company Registrar (KRS).
- Once the share transfer is accomplished, the shelf company in Poland can start conducting business.
- Additionally, the new business owners must undertake necessary measures to control the company’s financial & bank accounts fully.
- In Poland, a REGON number, a VAT registration, and a VAT registration are typically provided to a shelf business.
Read our complete guide on Poland Business Immigration.
Benefits of purchasing a shelf company in Poland
Since the shelf company is a ready-made, legally established corporate, it offers the following benefits-
- Licenses- Purchasing a firm that is already registered and has the necessary licenses could accelerate investment projects in Poland. Because the licensing process might take several weeks, based on the kind of license, ready-made businesses with licenses are time-saving.
- Acquire contracts and vendors- It provides immediate accessibility to government bidding and contracts.
- Longevity– A Shelf company has previously been established and hence has a track record. A shelf firm may be valued based on its age as it provides credibility and business heritage due to having been in existence for some time.
- Banking services- Entrepreneurs can have quicker and simpler availability to banking connections and business bank borrowings.
- Time-saving- Entrepreneurs can save time by purchasing a shelf company in Poland rather than creating and registering their own. It avoids the cost and time of starting a fresh business.
- Flexibility- Registering a shelf company in Poland offers flexibility as the business information may be updated once the transfer of ownership is done.
Characteristics of an operating shelf company in Poland
An operating shelf company in Poland would have the following characteristics:
- A KRS registration number.
- Registered business address.
- A tax registration number
- REGON number.
- Flexible articles of incorporation that cover a broad range of company activities.
- Functioning bank account.
- Current financial reports and accounting records.
How long does it take to purchase a shelf company in Poland?
Most organizational changes take effect as soon as the appropriate papers are signed; therefore, purchasing a shelf company in Poland will only take a maximum of 2 days.
However, some corporate changes may need to be registered in advance with the Polish Company Register in order to be effective, which typically takes 2 to 8 weeks.
Conclusion
A lot of entrepreneurs wish to enter Poland in order to set up and grow their businesses. This is because Poland has one of the lowest rates of taxation in the European Union, and is one of the most economically stable and fastest-growing countries worldwide. However, entrepreneurs who wish to quickly start a business in Poland without going through lengthy paperwork procedures can purchase a shelf company in Poland. A shelf company is a lawfully registered, ready-made business with no past operations. Purchasing a shelf company has several advantages, including the ability to commence operations immediately after purchase, participate in open bidding for contracts, and pursue grants and commercial financing.
Get in touch with our professionals at OnDemand International if you want to purchase a shelf company in Poland.
FAQ’s
A shelf company is a ready-made firm and a legally incorporated business with no operations.
Purchasing a shelf company in Poland would help a business to:
- Commence business operations within a few days of emerging in the market.
- Enable a prompt, effective transfer of ownership
- Engage in public bidding on contracts and tenders.
- Seek commercial loans and grants