Tag: Bank accounts for foreign companies in Poland

09
Aug

Banks in Poland.

Banks are institutions that officially mediate in financial transactions. The Bank’s main task is broadly understood money service. The Bank is a legal person established in accordance with the provisions of laws, acting on the basis of permits authorizing to perform banking activities that incur risky funds entrusted under any repayable title.

03
Aug

Is Poland an attractive country for foreigners?

Among the citizens of countries that recognize Poland as an attractive direction of immigration are Ukrainians, Russians and Belarusians, as well as citizens of Asian countries (Vietnamese, Chinese, Hindus) and citizens of the countries of the South Caucasus. According to the estimates of the Government Population Council, due to the low fertility rate of women, Poland will need about 5 million immigrants, only to maintain the current economic level. In this context, immigration from Ukraine is particularly important. The presence of Ukrainian employees on the Polish labor market is more and more necessary, and the creation of facilities for them is much needed, as they are also becoming desirable on other Western markets.
In recent years, a number of facilities for foreigners have been introduced in Poland. On the other hand, Polish society is still perceived (quite stereotypically) as reluctant to foreigners, and the provisions of Polish law, despite being updated, still constitute a fairly significant barrier to access to the labor market and education.

According to experts of the Association of Entrepreneurs and Employers, this may result in an outflow of Ukrainian workers from Poland of around half a million, which may result in a 1.6 per cent GDP decline (1/3 of the growth rate). Visa liberalization to the EU appears to be Germany’s first step in acquiring qualified employees, but much has been said about simplified procedures for recognizing the qualifications of people outside the EU, support in learning German or integration activities.

28
Jun

Why banks reduce interest rates on deposits.

The rate reductions are due to the fact that this strategy brings double benefits to banks. First of all, paying lower interest costs less. In addition, some people discouraged by low interest rates give up deposits and simply keep savings on an interest-free bill. This means for banks a free source of financing. In addition, the advantage of deposits over loans granted is increasing in the banking sector. The value of the former is already 13 percent higher than loans. For comparison, in 2011 the situation was opposite – the value of loans was up by 14 percent higher than deposits. Banks are therefore less and less motivated to pay us high interest rates. They are not able to earn part of our savings because they give too little credit.


							
21
May

The Swiss Franc is the most expensive since the beginning of April

The Swiss franc, one of the more closely observed currencies in Poland, has risen in price compared to the zloty by about 2 percent over the past two weeks. The franc rate rose above PLN 3.81, reaching the level we recently observed at the beginning of April this year. Unfortunately, the franc may soon be even more expensive. Not only the Polish zloty but also the US dollar or the euro are losing to the franc. In two weeks, the franc strengthened against the euro by about 1.5 percent, and against the dollar by about 1.6 percent.

16
Apr
08
Apr

The entrepreneur in Poland has the right to make mistakes.

The Ministry of Enterprise and Technology plans to introduce another deregulatory package, which, among other things, is to strengthen the competitive position of Polish ports by extending the VAT settlement date in imports, as well as admit the right to error during the first year of operation for smaller entrepreneurs – said Minister of Entrepreneurship Jadwiga Emilewicz.Continue Reading..

06
Apr

Polish Bank Pekao intends to release up employees.

The management of Pekao has adopted a resolution on the intention of group layoffs and consultation on this matter. It is about releasing a maximum of 950 people.Continue Reading..

02
Apr

The EU has extended the black list of tax havens.

The European Union has expanded the black list of tax havens that it created at the end of 2017. It has added 10 jurisdictions, including the United Arab Emirates, Oman as well as the British and Dutch overseas territories. Blacklisted countries may be covered by stricter controls of transactions with the EU.Continue Reading..

28
Mar

Responsibility for the financial report in a Polish Limited Liability Company

The head of the unit and the person entrusted with the bookkeeping are responsible for the preparation of the annual financial statements. The head of the unit shall ensure that the report is prepared and submitted to the competent authorities within three months from the balance sheet date. If the unit is managed by a multi-person body, the financial report is signed by all members of this body and the person entrusted with keeping the account books.Continue Reading..

24
Mar

Things you must think about if you’re setting up a modern company in Poland.

If you are just starting or thinking about starting a company in Poland, you must ensure that your customers will find you. And it does not matter if you are a freelancer, run a Polish limited liability company by yourself or you have a company where you employ several people. Today, it is impossible to function without a professional presence on the Internet. Here are the things you simply need to remember.Continue Reading..