Investors Guide Poland

How to do Business

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About PAIiIZ

About JP Weber

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Airport
in Wrocaw

Investors
Guide
Poland
How to do Business

Index
I. Introduction
I.1. Why Poland?
I.2. Basic facts

13
14
18

I.2.1. Geographical location and climate

I.2.2. Population and language

II. Legal and business enviroment

18
19

21

the most significant facts about Poland

II.1. Political & legal stability

II.1.1. Political system

23
23

II.1.1.1. The Parliament

II.1.1.2. The President
II.1.1.3. The Supreme Audit Office

II.1.2. Public administration

II.1.3. Legal system
II.1.4. Poland international
II.1.4.1. Poland in the European Union
II.1.4.2. Poland in the Single European Market
II.1.4.3. Poland and the European Monetary Union
II.1.4.4. International organisations

II.2. Macroeconomic indicators

II.2.1. Gross Domestic Product
II.2.2. Consumer Price Index
II.2.3. Foreign trade
II.2.4. Local cost effectiveness
II.2.5. Deficit and government budget

23
24
24

24
26
28
28
28
28
29

33
33
35
36
38
40

Index
II.3. Financial markets and institutions

43

II.3.1. Banking and financial institutions

43

II.3.1.1. National Bank of Poland

II.3.1.2. Commercial banks

II.3.2. Stock exchange and capital market regulations

II.3.2.1. Main and alternative markets
II.3.2.2. Polish Financial Supervision Authority
II.3.2.3. Acquisition of major share packages
II.3.2.4. Venture Capital Funds

II.3.3. Insurance regulations

II.3.4. Investment financing
II.3.5. List of banks

II.4. Resources & business sectors

II.4.1. Natural resources

43
44

44
46
47
47
48

48
49
50

53
53

II.4.1.1. Coal
II.4.1.2. Oil & Gas
II.4.1.3. Copper and silver
II.4.1.4. Other deposits

II.4.2. Agriculture and forestry

II.4.3. Energy sector
II.4.4. Industry clusters
II.4.4.1. Automotive industry
II.4.4.2. Aviation
II.4.4.3. Electronics
II.4.4.4. Food Industry

II.4.5. Business Services Clusters in Poland

II.4.6. Tourism

53
54
55
56

57
58
61
63
65
66
68

70
71

Index
II.5. Infrastructure

75

II.5.1. Transport

75

II.5.1.1. Road network

II.5.1.2. Air transportation
II.5.1.3. Railway network in Poland
II.5.1.4. Telecommunication systems
II.5.1.5. Density and connection lease market
II.5.1.6. Data transmission system and density

II.6. Labour market

75
76
77
78
79
80

83

II.6.1. Education

83

II.6.1.1. Education system

II.6.1.2. International schools
II.6.1.3. Science and R&D

II.6.2. Human resources

83
86
87

87

II.6.2.1. Employment and labour force

II.6.2.2. Unemployment
II.6.2.3. Salaries

III. Setting up business

87
89
90

93

get to know about the first steps to be taken

III.1. Incorporation

95

III.1.1. Conducting business activities

III.1.1.1. Limited Liability Company
III.1.1.2. Joint-stock Company / Public
Limited Company (PLC)

III.1.2. Other corporate entities

III.1.2.1. Civil Partnership
III.1.2.2. General Partnership

95
96
97

98
98
98

Index
III.1.2.3. Limited Partnership
III.1.2.4. Limited Liability Partnership
III.1.2.5. Partnership Limited by Shares
III.1.2.6. Sole Proprietorship
III.1.2.7. Branch office
III.1.2.8. Representative office
III.1.2.9. European Company
III.1.2.10. European Economic Interest Grouping

III.1.3. Establishing and registering an entity

III.2. Taxes

99
99
99
99
99
99
100
100

100

103

III.2.1. General overview

III.2.2. Taxation of company
III.2.2.1. Income tax
III.2.2.2. Value added tax
III.2.2.3. Tax on civil law transaction
III.2.2.4. Custom and excise tax
III.2.2.5. Duty-free zones
III.2.2.6. Customs bonded warehouse
III.2.2.7. Local taxes
III.2.2.8. Stamp duty

III.2.3. Taxation of individuals

III.2.3.1. Personal Income Tax
III.2.3.2. Inheritance and donation tax

III.3. Investment incentives

III.3.1. EU structural funds 20142020
III.3.2. Incentives in Special Economic Zones
III.3.3. Program for the support of investments of
considerable importance for Polish
economy for years 2011-2020
III.3.4. Real estate tax exemption


103
104
104
107
109
109
109
110
110
111

111
111
113

115
115
118

119
120

Index
III.3.5. Labour market instruments
121
III.3.6. OECD guidelines for multinational enterprises 122

III.4. Accounting & finance

III.4.1. Accounting and financial regulations
III.4.2. Financial statements
III.4.3. Audit and publication

III.5. Employment legislation

III.5.1. Employment of workers
III.5.2. Polish social security system

IV. Doing business

125
125
126
126

129
129
130

135

from Start-up to performing a direct investment

IV.1. Greenfield & brownfield investments

IV.1.1. Activities requiring licenses,
concessions or permits
IV.1.2. Real estate market
IV.1.2.1. Warehouse & industrial market
IV.1.2.2. Office market
IV.1.2.3. Retail and commercial market

IV.1.3. Acquiring real estate

IV.1.4. Investment process
IV.1.4.1. Analysis
IV.1.4.2. Step-by-step investment process

IV.2. M&A

137
137
139
140
140
141

142
144
144
145

151

IV.2.1. Polish M&A market



151

Index
IV.2.2. Regulations governing M&A

IV.3. Public Private Partnership (PPP)

IV.4. Important regulations
IV.4.1. Polish trade regulations

152

155
159
159

IV.4.1.1. Import/export licensing

IV.4.1.2. Customs tariffs
IV.4.1.3. Customs procedures

159
159
159

IV.4.2. Currency and exchange controls

IV.4.3. Competition law
IV.4.4. Regulations for entering into contracts
IV.4.5. CO2 emission allowances

160
160
162
162

IV.5. Securing business

165

IV.5.1. Property rights

165

IV.5.1.1. Patent legislation

IV.5.1.2. Trademarks
IV.5.1.3. Copyrights

IV.5.2. Product certification

IV.5.3. Public procurement law
IV.5.4. Bankruptcy and restructuring
IV.5.5. Renewable energy support system

V. Sources of Information

165
165
166

166
167
169
169

173

V.1. Polish Information and

Foreign Investment Agency
V.2. Regional Investor Assistance Centres
V.3. International schools in Poland
V.4. About JP Weber


175
179
187
192



I.

Introduction
ENCEDINADVISINGFOREIGNCOMPANIESASWELLASTHE
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4HE NUMEROUS POSITIVE RESPONSES TO OUR PREVIOUS

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ANDLEGALREQUIREMENTS4HISEDITIONISDESIGNEDTO
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THE BUSINESS AND LEGAL ENVIRONMENT #ONSEQUENTLY
WE HOPE OUR GUIDE WILL BE AN OPPORTUNITY FOR DIS
CUSSIONBETWEENREADERSANDTHEEDITORIALTEAM7E
WILL OF COURSE BE HAPPY TO ANSWER ANY QUESTIONS
RELATEDTOTHEISSUESPRESENTEDINTHISBOOK

4HIS GUIDE IS A RESULT OF THE *0 7EBER COMBINED

EXPERIENCEWITH0!)I):GAINEDTHROUGHADVISINGFOR
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Introduction

10 reasons to invest in Poland

I.1. Why Poland?

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Introduction
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0OLAND OFCIALLY THE 2EPUBLIC OF 0OLAND IS OFTEN
CONSIDERED TO BE THE fHEART OF %UROPEg DUE TO ITS
CENTRAL LOCATION 4HROUGHOUT HISTORY IT HAS SERVED
ASONEOFTHEMOSTIMPORTANTTRADEROUTESONTHE
CONTINENT CONNECTING THE NORTH SOUTH EAST AND
WEST OF %UROPE TOGETHER THANKS TO ITS GEOPOLITI
CALLY ADVANTAGEOUS LOCATION 0OLAND HAS BELONGED
TOTHE%UROPEAN5NIONSINCEWITHITSEASTERN
BORDERCONSTITUTINGTHEEASTERNFRINGEOFTHEENTIRE
COMMUNITY !T  KM IT IS THE LONGEST EXTERIOR
LANDBORDEROFTHE%UROPEAN5NIONTHETOTALLENGTH
OF0OLANDgSNATIONALBORDERSISKM "YGEO
GRAPHICALAREA0OLANDISTHENINTHLARGESTCOUNTRYIN
%UROPEANDTHESIXTHLARGESTINTHE%UROPEAN5NION
AS A WHOLE WITH A SURFACE AREA OF  KM
)TS NEIGHBOURING COUNTRIES ARE 'ERMANY TO THE
WESTTHE#ZECH2EPUBLICAND3LOVAKIATOTHESOUTH
5KRAINEAND"ELARUSTOTHEEASTAND,ITHUANIAAND
THE 2USSIAN PROVINCE OF +ALININGRAD TO THE NORTH
EAST0OLANDBELONGSTOTHE#ENTRAL%UROPEANTIME
ZONE'-4HOUREXCEPTFORBETWEEN-ARCHAND
/CTOBERWHENITSWITCHESTODAYLIGHTSAVINGTIME
'ENERALLY 0OLAND IS AN UNBROKEN PLAIN STRETCHING
FROMTHE"ALTIC3EAINTHENORTHTOTHE#ARPATHIAN
-OUNTAINS IN THE SOUTH !LTHOUGH THE AVERAGE
ELEVATION IS JUST  M ABOVE SEA LEVEL WITH ONLY



 OF 0OLISH TERRITORY ALONG THE SOUTHERN BORDER

AVERAGING AT HIGHER THAN  M THE LANDSCAPE IS
RELATIVELYDIVERSIEDWITHTERRAINVARIATIONSGENERALLY
RUNNINGINBANDSFROMEASTTOWEST0OLANDISTRADI
TIONALLYDIVIDEDINTOVEGEOGRAPHICALZONES
4HE "ALTIC COASTAL PLAINS ARE A LOW LYING REGION
WHICH FORM 0OLANDgS MOSTLY SMOOTH COASTLINE AND
NORTHERN BORDER )T PROVIDES MANY KILOMETRES OF
SANDY BEACHES COMPLETE WITH COASTAL LAKES SAND
DUNESANDCLIFFS
4O THE NORTH OF THE CENTRAL LOWLANDS THE LAKE RE
GIONINCLUDESTHEONLYPRIMEVALFORESTSREMAININGIN
%UROPE 'LACIAL ACTION IN THIS REGION FORMED MANY
LAKES AND LOW HILLS OVER MANY CENTURIES )N FACT
THEREgS NO OTHER REGION IN %UROPE OUTSIDE &INLAND
WHERE SO MANY POST GLACIAL LAKES CAN BE FOUND
3MALLLAKESDOTTHEENTIRENORTHERNHALFOF0OLAND
ANDTHEGLACIALFORMATIONSTHATCHARACTERISETHELAKE
REGIONEXTENDASMUCHASKMINLANDINWESTERN
0OLAND
4HELARGESTZONETHECENTRALLOWLANDSISANARROW
BANDINTHEWESTWHICHEXPANDSTOTHENORTHAND
SOUTHASITEXTENDSEASTWARD4HETERRAINISRELATIVELY
ATCUTBYSEVERALMAJORRIVERSINCLUDINGTHE/DER
/DRA  WHICH CONSTITUTES 0OLANDgS NATURAL BORDER
WITH'ERMANYINTHEWESTANDTHE6ISTULA7ISLA
IN THE CENTRE WHICH AT  KM IS THE COUNTRYgS
LONGESTRIVER
4OTHESOUTHARETHE-AOPOLSKAUPLANDSTHATCON
NECTTHERANGESINSOUTH CENTRAL0OLAND THE3UDE
TENAND#ARPATHIAN-OUNTAINS4HEHIGHESTPEAKIN
THE3UDETESISNIEKAM 4HE#ARPATHIANS
-OUNTAINSIN0OLANDARETHEHIGHESTANDMOSTPIC
TURESQUE MOUNTAINS IN THE COUNTRY WITH 0OLANDgS
HIGHESTMOUNTAINPEAKBEING2YSYM INTHE
0OLISH4ATRAS
0OLANDHASAMODERATECLIMATEWITHRELATIVELYCOLD
WINTERS FROM $ECEMBER TO -ARCH *ANUARY TEM
PERATURES AVERAGE x# x& TO x# x&  BUT
IN THE MOUNTAIN VALLEYS THEY MAY DROP AS LOW AS
x# x& 3UMMERSWHICHEXTENDFROM*UNETO
!UGUST ARE USUALLY WARM SUNNY AND LESS HUMID
THANWINTER*ULYAND!UGUSTAVERAGETEMPERATURES
RANGE FROM x# x& TO x# x&  THOUGH
SOME DAYS THE TEMPERATURE CAN EASILY REACH EVEN
x# x&  4HE AVERAGE ANNUAL RAINFALL FOR THE
WHOLECOUNTRYISMMAYEARALTHOUGHISOLATED
MOUNTAINLOCATIONSMAYRECEIVEASMUCHAS
MMAYEAR

Introduction
TIONBEINGETHNIC0OLES4HEMAJORETHNICMINORITIES
ARE'ERMAN"ELARUSSIAN5KRAINIANAND2OMANIAN

I.2.2. Population and

language

-ILLION

4HE POPULATION OF 0OLAND AS OF  IS 

MILLIONPEOPLEMAKINGITTHEEIGHTHBIGGESTCOUN
TRYIN%UROPEINTERMSOFPOPULATIONANDTHESIXTH
LARGEST IN THE %UROPEAN 5NION IN TERMS OF AREA
!LTHOUGHTHEPOPULATIONGROWTHHASBEENLOWIN
RECENTYEARSIN PERPEOPLE 0O
LANDgSWORKFORCEISSTILLAMONGTHEYOUNGESTIN%U
ROPEWITHMILLIONPEOPLEOFWORKINGAGE
ASOF4HERETIREMENTAGEISCURRENTLYFOR
WOMENANDFORMEN2ECENTREGULATORYCHANG
ESBOUNDTHERETIREMENTAGETOGRADUALLYINCREASE
UP TO  YEARS BOTH FOR MEN AND FOR WOMEN BY
ANDRESPECTIVELY










PRE WORKING

WORKING

POST WORKING

3OURCE #ENTRAL 3TATISTICAL /FCE #ONCISE 3TATISTICAL 9EAR

BOOKOF0OLAND

!PPROXIMATELYOF0OLESASOF LIVEIN
CITIESANDURBANAREAS

-OSTEDUCATED0OLESESPECIALLYINTHEBUSINESSCOM
MUNITY SPEAK AT LEAST ONE FOREIGN LANGUAGE WITH
%NGLISHBEINGTHEMOSTPOPULAR)NADDITIONTOTHIS
'ERMANAND2USSIANAREALSOSPOKENFREQUENTLYDUE
TOTHEGEOGRAPHICALCLOSENESSOFTHESECOUNTRIES

%THNICALLY 0OLAND IS ONE OF THE MOST HOMOGENOUS

COUNTRIESIN%UROPEWITHOVEROFTHEPOPULA





II.
Legal and
business
enviroment
the most significant facts about Poland





II.1.

Political & legal

stability
II.1.1.
Political system

THE0RESIDENTOFTHE2EPUBLICISBROUGHTTOTHE3TATE
4RIBUNAL
4HE3ENATEHASTHERIGHTTOINITIATELEGISLATIONAND
REVIEWSAPPROVEORREJECTACTSPASSEDBYTHE3EJM
ORTOPROPOSEAMENDMENTSTOTHOSEACTS(OWEVER
THE3ENATEgSVETOMAYBEOVERRULEDBYANABSOLUTE
MAJORITYVOTEINTHE3EJM)TISTHE3EJMULTIMATELY
THAT DECIDES ON THE NAL VERSION OF ANY LEGISLATIVE
ACT 4HE LEGISLATIVE INITIATIVE IS ALSO GRANTED TO THE
0RESIDENTTHE#OUNCILOF-INISTERSANDTOANYGROUP
OFATLEASTCITIZENSCOMINGUPWITHADRAFT
LAW

0OLANDISADEMOCRATICMULTI PARTYREPUBLICREECT

ING A MIXTURE OF PARLIAMENTARY AND PRESIDENTIAL
MODELS4HEGOVERNMENTALSYSTEMISBASEDONTHE
SEPARATION AND BALANCE BETWEEN LEGISLATIVE THE
0ARLIAMENT OR .ATIONAL !SSEMBLY  EXECUTIVE THE
0RESIDENTANDTHE#OUNCILOF-INISTERS ANDJUDICIAL
POWERSCOURTSANDTRIBUNALS 

/NTHEAPPROVALOFTHE3ENATETHE3EJMALSOAPPOINTS
THE#OMMISSIONERFOR#IVIL2IGHTS0ROTECTION/MBUDS
MAN 2ZECZNIK 0RAW /BYWATELSKICH FOR A VE YEAR
TERM4HE/MBUDSMANHASTHEDUTYTOGUARDTHECIVIL
RIGHTSANDFREEDOMSOF0OLISHCITIZENSANDRESIDENTS
ANDTHEIMPLEMENTATIONOFTHELAWANDOFPRINCIPLES
OFCOMMUNITYLIFEANDSOCIALJUSTICE4HE/MBUDS
MANREMAINSINDEPENDENTANDISRESPONSIBLEONLY
TOTHE3EJM

4HE SUPREME LAW OF THE 2EPUBLIC OF 0OLAND IS THE

CONSTITUTIONREWRITTENINPASSEDON!PRILND
AND SUBMITTED FOR RATICATION BY NATIONAL REFEREN
DUM4HECONSTITUTIONASSURESFREEDOMOFECONOM
ICACTIVITYANYLIMITATIONOFWHICHSHOULDBEBASED
ONLAW

II.1.1.1. The Parliament

4HE0ARLIAMENTISCOMPOSEDOFTWOCHAMBERSTHE
LOWERHOUSEINCLUDINGTHE3EJMWHICHCOMPRISES
DEPUTIESELECTEDFORFOURYEARSTHROUGHAPRO
PORTIONAL VOTING SYSTEM IN A GENERAL ELECTION 4HE
UPPERHOUSEINCLUDESTHE3ENATEWHICHCOMPRISES
 SENATORS WHO ARE ELECTED EVERY FOUR YEARS
THROUGHAMAJORITYVOTINGSYSTEM7HENSITTINGINA
JOINTSESSIONMEMBERSOFTHE3EJMANDTHE3ENATE
FORMTHE.ATIONAL!SSEMBLYPRESIDEDBYTHE-AR
SHALOFTHE3EJM4HE.ATIONAL!SSEMBLYISFORMED
IN CASE OF THREE DIFFERENT SITUATIONS TO ADOPT A
NEW#ONSTITUTIONTORECEIVETHEOATHFROMANEWLY
ELECTED 0RESIDENT OR WHEN AN INDICTMENT AGAINST



Political & legal Stability

II.1.1.2. The President
4HE0RESIDENTISELECTEDVIAAGENERALELECTIONFORA
VE YEAR TERM AND CAN SPEND A MAXIMUM OF TWO
TERMSOFOFCE4HE0RESIDENTISTHEHEADOFSTATE
THE SUPREME REPRESENTATIVE OF THE COUNTRY IN FOR
EIGN AFFAIRS AND ALSO THE #OMMANDER IN #HIEF OF
THE ARMED FORCES (E APPOINTS CANDIDATES FOR THE
POSTOF0RIME-INISTERANDAPPOINTSTHECABINETAC
CORDINGTOTHE0RIME-INISTERgSPROPOSALS
(EHASALSOTHERIGHTTODISSOLVETHEPARLIAMENTIFIT
ISUNABLETOFORMTHE'OVERNMENTORAPPROVETHE
DRAFTOFTHE3TATE"UDGET
!PART FROM THE LEGISLATIVE INITIATIVE THE 0RESIDENT
ALSOHASTHERIGHTTOVETOACTSAPPROVEDBY0ARLIA
MENTALTHOUGHTHISVETOCANITSELFBEOVERRULEDBY
THE3EJMWITHAMAJORITYVOTE 

THE .ATIONAL "ANK OF 0OLAND 'OVERNMENT AND LOCAL

'OVERNMENTADMINISTRATIVEUNITSANDOTHERCORPORATE
BODIES AND .ON 'OVERNMENTAL /RGANISATIONS WHICH
PERFORMORRECEIVEPUBLICCONTRACTS

II.1.2. Public
administration
4HE GOVERNMENT IN 0OLAND CONSISTS OF CENTRAL AND
LOCALADMINISTRATIONSTHE/FCEOFTHE0RESIDENTOF
THE 2EPUBLIC OF 0OLAND THE #OUNCIL OF -INISTERS
WITH ITS RESPECTIVE MINISTRIES AND THE STRUCTURES
COMPRISINGTHECENTRALADMINISTRATION
4HE#OUNCILOF-INISTERSISTHEEXECUTIVEBODYTHAT
MANAGES THE CURRENT STATE POLICY ENSURING THE
EXECUTION OF THE LAW APPROVING THE DRAFT OF THE
BUDGETPROTECTINGTHEINTERESTSOFTHE3TATE4REAS
URYANDENSURINGPUBLICORDERASWELLASTHEINTERNAL
ANDEXTERNALSECURITYOFTHESTATE

II.1.1.3. The Supreme

Audit Office
4HE3UPREME!UDIT/FCE.AJWYSZA)ZBA+ONTROLIk
.)+ ISANINSTITUTIONTHATCANNOTBEEXACTLYQUALIEDAS
ALEGISLATIVEEXECUTIVEORJUDICIALPOWER.EVERTHELESS
ITISONEOFTHEOLDESTSTATEINSTITUTIONSIN0OLAND4HE
.)+ IS ENTITLED TO AUDIT ALL STATE INSTITUTIONS INCLUDING

#URRENTLY THE #OUNCIL OF -INISTERS CONSISTS OF A

0RIME-INISTERWHOISTHE0RESIDENTOF#OUNCILOF
-INISTERS TWO6ICE0RESIDENTSANDREPRESENTATIVES
OF-INISTRIESRESPONSIBLEFOR

-INISTRY

&UNCTIONS

0RIME-INISTER

2EPRESENTSTHE#OUNCILOF-INISTERSANDDIRECTS
THEIRWORKSUPERVISINGTERRITORIALSELF GOVERNMENT
WITHINTHEGUIDELINESANDINWAYSDESCRIBEDIN
THE#ONSTITUTIONANDOTHERLEGISLATIONACTINGAS
THE SUPERIOR FOR ALL GOVERNMENT ADMINISTRATION
WORKERS

-INISTRYOF!GRICULTUREAND2URAL$EVELOPMENT

#ONCERNED WITH VARIOUS ASPECTS OF 0OLISH

AGRICULTUREANDIMPROVINGITSRURALAREAS

-INISTRYOF#ULTUREAND.ATIONAL(ERITAGE

#ONCERNED WITH VARIOUS ASPECTS OF 0OLISH

CULTUREINCLUDINGTHEPROTECTIONOFITSHERITAGE

-INISTRYOF%CONOMY

#ONCERNED WITH CREATING THE BEST CONDITIONS

FOR BUSINESS ACTIVITY AND INITIATING AND CO
ORDINATING POLICIES REGARDING ECONOMIC ACTIVITY
ANDDEVELOPMENT



Political & legal Stability

-INISTRYOFTHE%NVIRONMENT

#ARES ABOUT THE ENVIRONMENT IN 0OLAND AND

ENSURES THE LONG TERM BALANCED DEVELOPMENT
OFTHECOUNTRY

-INISTRYOF&INANCE

$RAFTS 0OLANDgS BUDGET AND DEALS WITH TAXES

NANCING OF THE LOCAL SELF GOVERNMENTS AND
ISSUESRELATEDTOPUBLICDEBT

-INISTRYOF&OREIGN!FFAIRS

2EPRESENTS AND PROTECTS THE INTERESTS OF THE

2EPUBLICOF0OLANDANDOF0OLISHNATIONALSAND
LEGALPERSONSABROADPROMOTES0OLANDABROAD
MAINTAINS DIPLOMATIC RELATIONS WITH OTHER
COUNTRIESANDINTERNATIONALORGANISATIONS

-INISTRYOF(EALTH

!DMINISTRATES
THE
HEALTHCARE
SYSTEM
PHARMACEUTICAL POLICYA PROMOTES HEALTH AND
DEALSWITHTHEPREVENTIONOFDISEASES

-INISTRYOFTHE)NTERIOR

2ESPONSIBLEFORINTERNALSECURITYLAWENFORCEMENT
CIVILDEFENCEANDREGISTRYFUNCTIONS

-INISTRYOF*USTICE

)N CHARGE OF JUDICIARY ISSUES WITHIN THE SCOPE

NOT RESERVED BY SEPARATE LEGISLATION FOR THE
COMPETENCE OF OTHER PUBLIC BODIES AND
TAKING INTO ACCOUNT THE PRINCIPLES OF JUDICIAL
INDEPENDENCE

-INISTRYOF,ABOURAND3OCIAL0OLICY

2EGULATESALLISSUESREGARDINGTHELABOURMARKET
AND CONDITIONS INCLUDING THE SOCIAL SECURITY
SYSTEM

-INISTRYOF.ATIONAL%DUCATION

0OLICY FOR NAATIONAL EDUCATION 4HE MINISTRY

PREROGATIVESDONOTINCLUDEHIGHEREDUCATION

-INISTRYOF.ATIONAL$EFENCE

-ANAGES IN PEACETIME ALL OF THE ACTIVITIES OF

THE!RMED&ORCESTHEREALISATIONOFTHEGENERAL
ASSUMPTIONSDECISIONSANDDIRECTIVESINTHEAREA
OFNATIONALDEFENCE

-INISTRYOF4REASURY

3UPERVISES AND MANAGES THE 3TATE 4REASURY

RESPONSIBLEFORTHEPRIVATISATIONOFSTATE OWNED
ENTERPRISESANDNATIONALINVESTMENTFUNDS

-INISTRYOF!DMINISTRATIONAND$IGITIZATION

#ONCERNED WITH VARIOUS ASPECTS OF ADMINISTRA

TION)NTERNETANDTELECOMMUNICATIONIN0OLAND

-INISTRYOF3CIENCEAND(IGHER%DUCATION

!DMINISTERS GOVERNMENTAL ACTIVITIES IN SCIENCE

AND HIGHER EDUCATION AND HAS A BUDGET FOR
SCIENTICRESEARCHPROVIDEDBY3TATEFUNDS



Political & legal Stability

-INISTRYOF3PORTAND4OURISM

/VERSEES SPORTS CLUBS DEALS WITH PROMOTION

ANDDEVELOPMENTOFSPORTSANDMATTERSRELATED
TOTOURISM

-INISTRYOF)NFRASTRUCTUREAND$EVELOPMENT

)S THE CORE GOVERNMENT CENTRE FOR A VARIETY OF

ECONOMIC AND INFRASTRUCTURAL DEVELOPMENT
ROLES INCLUDING DEVELOPMENT POLICY REGIONAL
POLICYMANAGINGANDDISTRIBUTING%UROPEAN5N
IONSTRUCTURALANDCOHESIONFUNDSANDELIMINAT
INGSPATIALECONOMICDISPARITIES

4HE ADMINISTRATIVE DIVISION OF 0OLAND IS BASED ON

THREELEVELSOFADMINISTRATIONIEVOIVODESHIPS
PROVINCES WOJEWDZTWA HEADED BY PROVINCIAL
VOIVODE GOVERNORWOJEWODA  APPOINTED BY THE
0RIME -INISTER WHO IS THE SUPERIOR OF THE TEAM
GOVERNMENTALADMINISTRATIONTHESUPERVISIONBODY
OVERTHETERRITORIALSELF GOVERNMENTUNITSASWELLAS
THESENIORBODYASPERTHEREGULATIONSFORADMINIS
TRATIVEPROCEEDINGS
4HELEADEROFTHEEXECUTIVEISTHEVOIVODESHIPMAR
SHAL MARSZAEK  ELECTED BY THE REGIONAL ASSEMBLY
SEJMIK ANDCO EXISTINGWITHTHEVOIVODE4HESELF
GOVERNMENTEXECUTESTASKSINTHEFOLLOWINGSCOPE
PUBLICEDUCATIONHEALTHPROMOTIONANDPROTECTION
ENVIRONMENTALPROTECTIONMODERNISINGTHERURALAR
EASPUBLICROADSCOLLECTIVETRANSPORTLANDDEVELOP
MENT CULTURE SOCIAL WELFARE TOURISM COUNTERACT
INGUNEMPLOYMENTANDACTIVATINGTHELOCALLABOUR
MARKET
4HE VOIVODESHIPS ARE DIVIDED INTO POWIATS BOR
OUGHSPOWIATY  WHICH ARE DIVIDED FURTHER INTO
COMMUNESGMINY 
4HEREARETWOTYPESOFPOWIATSTHEBASICTERRITORIAL
DIVISIONUNITTHATCOMPRISESTHEENTIREAREASOFTHE
BORDERING BOROUGHS A LAND POWIAT OR THE WHOLE
TOWNAREAATOWNWITHTHERIGHTSOFAPOWIAT
!COMMUNEISTHEFUNDAMENTALCOMMUNITYANDTHE
SMALLESTADMINISTRATIVEUNIT4HESCOPEOFITSACTIV
ITYCOMPRISESTHEPUBLICAFFAIRSOFLOCALSIGNICANCE
UNRESERVED STATUTORILY FOR OTHER ENTITIES 0REDOMI
NANTLYACOMMUNEISRESPONSIBLEFORSATISFYINGTHE
PRIMARY CONCRETE NEEDS OF ITS INHABITANTS )T DEALS
WITHPLANNINGANDMANAGINGTHELANDENVIRONMEN
TALPROTECTIONROADSBRIDGESSTREETSPUBLICTRANS
PORT AND SUPPLYING THE INHABITANTS WITH ELECTRICITY
AND HEATING )T ALSO KEEPS THE SURROUNDINGS TIDY



AS WELL AS MANAGES AND MAINTAINS THE COMMUNAL

BUILDINGSANDTHEPUBLICUSAGEFACILITIES
4HELOCALGOVERNMENTgSDECISION MAKINGANDSUPER
VISORYBODIESARETHECOUNCILSOPERATINGATALLTHREE
LEVELSOFTHELOCALADMINISTRATION#OUNCILMEMBERS
ARE VOTED FOR IN GENERAL EQUAL DIRECT AND SECRET
ELECTIONS4HEYHAVETHEAUTHORITYTOAPPOINTORDIS
MISS LOCAL ADMINISTRATIVE OFCERS INCLUDING MAYORS
OFRURALCOMMUNESWJT MAYORSOFTOWNSANDCIT
IESBURMISTRZORFORLARGEMUNICIPALITIESPREZYDENT 
HEADSOFTHEPOWIATSSTAROSTA ANDASMENTIONED
BEFORETHEMARSHAL

II.1.3.
Legal system
)NACCORDANCEWITHTHE0OLISH#ONSTITUTIONJUDICIAL
POWER CONSISTS OF COURTS AND TRIBUNALS WHICH ARE
INDEPENDENTFROMTHEOTHERINSTITUTIONSOFPOWER
4HE SYSTEM OF JUSTICE IS BASED ON THE 3UPREME
#OURTTHECOMMONCOURTSANDTHEADMINISTRATIVE
AND MILITARY COURTS *UDGES ARE INDEPENDENT AND
CANNOT BE DISMISSED THEY ARE ONLY SUBJECT TO THE
0OLISH#ONSTITUTIONANDREGULATIONS
0OLISHCOURTSSYSTEM
4HE3UPREME#OURTSUPERVISESTHEACTIVITIESOFTHE
COMMONANDMILITARYCOURTS)TISTHEHIGHESTJUDI
CIALBODYWHOSERULINGSARENOTSUBJECTTOFURTHER
REVIEWBYANOTHERCOURT4HE3UPREME#OURTDEALS
WITH CASES UNDER PARTICULAR REGULATIONS PROVIDES
UNIFORMITY AND ACCURACY OF INTERPRETATION OF THE
LAWANDISSUESOPINIONSONBILLS

Political & legal Stability

0OLISHCOURTSSYSTEMSCHEME

OF JUSTICE ALTHOUGH THE CONCEPT AND DENITION OF

fSYSTEMOFJUSTICEgSTILLAPPLIESTOTHEM
!DMINISTRATIONJUSTICESYSTEMSCHEME

3UPREME#OURT
3D.AJWYSZY

3UPREME!DMINISTRATIVE
#OURTIN7ARSAW

CASSATION

.ACZELNY3D!DMINITRACYJNY
W7ARSZAWIE.3!
CASSATION

#OURTOF!PPEAL
2EGIONAL#OURTS

#OURTOF!PPEAL#!

6OIVODSHIP!DMINISTRATIVE#OURT

3D!PELACYJNY

7OJEWDZKI3D!DMINISTRACYJNY73!

APPEAL

4HE #ONSTITUTION 4RIBUNAL IS A JUDICIAL BODY ESTAB

LISHEDTORESOLVEDISPUTESONTHECONSTITUTIONALITYOF
THEACTIVITIESOFSTATEINSTITUTIONS)TSMAINTASKISTO
SUPERVISETHECOMPLIANCEOFSTATUTORYLAWWITHTHE
#ONSTITUTION)TADJUDICATESINCOMPLIANCEWITHTHE
#ONSTITUTIONOFLEGISLATIONANDINTERNATIONALAGREE
MENTSASWELLASITSRATICATION ONDISPUTESOVER
THEPOWERSOFCENTRALCONSTITUTIONALBODIESANDIN
COMPLIANCEWITHTHE#ONSTITUTIONOFTHEAIMSAND
ACTIVITIESOFPOLITICALPARTIES)TSJUDGEMENTSARENAL

2EGIONAL#OURTS2#
3D/KRGOWY

2EGIONAL#OURTS2#
3D/KRGOWY

APPEAL

4HE3TATE4RIBUNALISTHEJUDICIALBODYWHICHRULES
ONTHECONSTITUTIONALLIABILITYOFPEOPLEHOLDINGTHE
HIGHEST3TATEOFCES)TISEMPOWEREDTORULEFORTHE
REMOVALOFINDIVIDUALSFROMPUBLICOFCETOIMPOSE
INJUNCTIONSONINDIVIDUALSAGAINSTTHEIRAPPOINTMENT
TO SENIOR OFCES TO REVOKE AN INDIVIDUALgS RIGHT TO
VOTEANDTOSTANDFORELECTIONTOWITHDRAWPREVI
OUSLYAWARDEDDISTINCTIONSANDINCRIMINALCASESTO
IMPOSEPENALTIESSTIPULATEDINTHECRIMINALCODE

$ISTRICT#OURTS$#
3D2EJONOWY

!DMINISTRATIVEJUSTICESYSTEM
4HE 3UPREME !DMINISTRATIVE #OURT IS THE COURT OF
LAST RESORT IN ADMINISTRATIVE CASES EG THOSE BE
TWEENSPRIVATECITIZENSORCORPORATIONS ANDADMIN
ISTRATIVEBODIES4HISCOURTDEALSWITHAPPEALSFROM
LOWERADMINISTRATIVECOURTS

!S A MEMBER OF THE %UROPEAN 5NION 0OLAND IS ALSO

SUBJECT TO CERTAIN INTERNATIONAL ORGANISATIONS WITH IN
TERNATIONALJUDICIALPOWER4HESEORGANISATIONSINCLUDE
4HE%UROPEAN5NIONk#OURTOF*USTICEOF
THE%UROPEAN#OMMUNITIESAND#OURTOF
&IRST)NSTANCE
4HE5NITED.ATIONSk)NTERNATIONAL#OURT
OF*USTICE
4HE#OUNCILOF%UROPEk%UROPEAN#OURT
OF(UMAN2IGHTS
4HE)NTERNATIONAL#RIMINAL#OURT

)T JUDGES THE CONFORMITY OF LOCAL GOVERNMENT AU

THORITYRESOLUTIONSTOTHEREGULATIONSANDNORMATIVE
ACTSOFLOCALGOVERNMENTADMINISTRATIONAUTHORITIES
!CCORDINGTOTHE0OLISH#ONSTITUTIONTHETRIBUNALS
4HE0OLISH#ONSTITUTIONAL4RIBUNALk4RYBUNA+ON
STYTUCYJNYANDTHE3TATE4RIBUNALk4RYBUNA3TANU
OPERATE OUTSIDE THE STRUCTURE OF THE 0OLISH SYSTEM



Political & legal Stability

4HEINTERNATIONALSYSTEMOFJUSTICEEXISTSTOSUPPLE
MENTTHENATIONALCOURTSANDMAKESDECISIONSONLY
WHENTHENATIONALJUSTICESYSTEMISINCAPABLEOFRE
SOLVINGTHEDISPUTEATTHENATIONALLEVEL

II.1.4. Poland
international

MENTFORWORKERS4HELASTRESTRICTIONSFOR0OLISHEM
PLOYESSWERERESCINDEDIN-AY3INCETHENNO
MORE NATIONAL REGULATIONS OF -EMBER 3TATES MAY
BAN0OLESTOWORKWITHIN-EMBER3TATESWITHRE
GARDSTODOMESTICRULES 
4HE FREEDOM OF MOVEMENT OF GOODS IS ONE OF THE
FUNDAMENTAL PRINCIPLES OF THE SINGLE MARKET )T CON
STITUTES THE PROHIBITION OF QUANTITATIVE RESTRICTION ON
EXPORTSANDIMPORTSBETWEEN-EMBER3TATES)TISTHE
RULETHATPRODUCTSCOMPLYINGWITHTHESTANDARDSSETIN
THE-EMBER3TATEOFORIGINSHALLALSOCOMPLYWITHTHE
STANDARDSOFTHE-EMBER3TATESOFDESTINATION

II.1.4.1. Poland in the

European Union
0OLAND BECAME A MEMBER OF THE %5 ON ST -AY
TOGETHERWITHNINEOTHERCOUNTRIESMARKING
THECULMINATIONOFANEGOTIATIONPROCESSWHICHRST
BEGAN ON ST -ARCH  /N ST $ECEMBER
0OLANDJOINEDTHE3CHENGENAREAATERRITORY
WITH NO CHECKS AT INTERNAL BORDERS FORMED IN THE
MEMBER3TATES

4HE FREEDOM OF MOVEMENT OF SERVICES IMPLIES THE

RIGHTS OF INDIVIDUALS AND COMPANIES TO OFFER AND
PROVIDESERVICESWITHOUTHINDRANCEINALL%5-EM
BER3TATES%54REATYREGULATIONSONTHEFREEMOVE
MENTOFSERVICESESSENTIALLYCOVERALLTYPESOFSERV
ICES PROVIDED AGAINST PAYMENT )NDIVIDUAL CITIZENS
ANDCOMPANIESHAVETHERIGHTTOOFFERANDPROVIDE
SERVICESINOTHER-EMBER3TATESONTHESAMETERMS
ASTHOSEAPPLIEDTOTHECOUNTRYgSOWNCITIZENSAND
COMPANIES
!NYOBSTACLESTOTHEFREEDOMOFMOVEMENTOFCAPI
TALAREPROHIBITEDACCORDINGTO%#TREATY%5CITIZENS
MUSTBEABLETOTRANSFERUNLIMITEDSUMSOFMONEY
BETWEEN -EMBER 3TATES OPEN BANK ACCOUNTS
INVEST FUNDS OR BORROW MONEY IN OTHER -EMBER
3TATES %5 CITIZENS WHO MOVE TO ANOTHER -EMBER
3TATETOWORKORRETIREMUSTHAVETHERIGHTTOTRANS
FERMONEYFROMONE%5COUNTRYTOANOTHER

4HEMAINBENETSFOR0OLANDFROMJOININGTHE%U
ROPEAN5NIONARE
HARMONISATIONOF0OLISHLAWWITH%5REGULATIONS
ACCESSTOOVERMILLIONCUSTOMERSWITHINTHE%5
THEPOSSIBILITYOFAPPLYINGFOR%5STRUCTURALFUNDS
INFRASTRUCTUREDEVELOPMENT
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CESSTO%5STRUCTURALFUNDSHASHELPEDTOINCREASE
THEATTRACTIVENESSOF0OLANDFORFOREIGNINVESTORS
4HE%UROPEAN5NIONISNOW0OLANDgSLARGESTTRAD
INGPARTNER&ROM*ANUARYTO*ULYTHESHARE
OF 0OLISH EXPORTS REACHED  AND IMPORTS


II.1.4.2. Poland in the

Single European Market
!SAMEMBEROFTHE%UROPEAN5NION0OLANDPARTIC
IPATESINTHE3INGLE%UROPEAN-ARKET4HEFREEDOM
OFMOVEMENTOFPEOPLEGOODSCAPITALANDSERVICES
MAKESTHISMARKETMUCHMORECOMPETITIVE
4HEFREEDOMOFMOVEMENTOFPEOPLEISVERYIMPOR
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)N 0OLAND THERE IS AN IMPORTANT  YEAR TRANSITION

PERIOD FOR THE PURCHASING OF AGRICULTURAL LAND AND
FORESTSTHATENDSONTH!PRIL

II.1.4.3. Poland and the

European Monetary Union
4HENEXTSTAGEOFINTEGRATIONISTHEACCESSIONTOTHE
%UROPEAN-ONETARY5NIONASWELLASTHEADOPTION
OFTHE%UROASTHEOFCIALCURRENCYOF0OLAND4HE
CRISISWITHIN%UROZONEHASPUTTHEGREATPRESSUREON
POLISHAUTHORITIESTODELAYTHEADOPTIONOFTHE%URO
4HEUNOFCALPLANSARETOFULLLALLREQUIREMENTSIN
YEARS k BUT THE ADOPTION OF THE %URO WILL
NEED CHANGE OF THE CONSTITUTION WHICH SEEMS TO
BEIMPOSSIBLEBEFORENEXTELECTIONSSCHEDULEDFOR
LATEAUTUMN

Political & legal Stability

4HEBASICREQUIREMENTSFORJOININGTHE%UROARETHE
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INGSCALTHEGENERALGOVERNMENTDECITANDPUBLIC
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OF LONG TERM INTEREST RATES AND EXCHANGE RATE STA
BILITY 4HEFULLLMENTOFTHEEXCHANGERATECRITERION
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ANDBECAMEAMEMBERIN4HANKSTOITS/%#$
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COUNTRIES IN THE WORLD IS CONCRETE PROOF OF 0OLANDgS
CURRENTECONOMICSTABILITY4HISUNDOUBTEDLYIMPROVES
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II.1.4.4. International
organisations

.!4/
.!4/ THE .ORTH !TLANTIC 4REATY /RGANIZATION THE
POLITICAL MILITARY ORGANIZATION WAS ESTABLISHED ON
THOF!UGUSTBASINGONTHE4REATYOF7ASH
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THEFREEDOMSANDSECURITYOFALLITS-EMBER3TATES
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RESPONSIBILITIESASWELLASTHEBENETSOFCOLLECTIVE
SECURITY !CCORDING TO .!4/gS PRINCIPLES ITS -EM
BERS SHALL NOT ENTER INTO ANY OTHER INTERNATIONAL
COMMITMENTSTHATMIGHTCONICTWITHTHIS4REATY

!FTER0OLANDBEGANANINTENSIVEPERIODOFECO
NOMICDEVELOPMENTSUPPORTEDBYITSMEMBERSHIPIN
VARIOUS INTERNATIONAL ORGANISATIONS 4HIS HELPED TO
ACCELERATEDEVELOPMENTPROMOTEGLOBALLYTHE0OLISH
ECONOMY AND ENABLED COLLABORATION WITH OTHER
COUNTRIES#URRENTLY0OLANDISAMEMBEROF
4HE/RGANISATIONFOR%CONOMIC
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Political & legal Stability

TO THE STANDARDS OF THE 7ORLD 4RADE /RGANISATION
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View on Szczecin City

at night





II.2.

Macroeconomic
indicators
II.2.1. Gross
Domestic Product

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COSTIN0OLANDIN%52 REMAINEDVERYSTABLEINCOM
PARISONWITHOTHER#%%COUNTRIESLIKE#ZECH2EPUBLIC
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THE NUMBER OF MOTORWAYS AND EXPRESSWAYS AND

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THE MAIN CITIES OF 0OLAND WILL ALL BE CONNECTED BY
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-OSCOW
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(OURLYLABOURCOSTSIN%UROPEAN5NIONIN

Legend
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010

1020

2030

3040

>40

3OURCE%UROSTAT



Macroeconomic indicators

II.2.5. Deficit and

government budget

4HE REVENUE EXPENDITURES AND BALANCE OF THE GOV

ERNMENT BUDGET THROUGHOUT   ARE SHOWN
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'OVERNMENTCONSOLIDATEDGROSSDEBTIN 
ASPERCENTAGEOF'$0

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II.3.

Financial markets
and institutions
II.3.1.
Banking and financial
institutions

4HE 0&3! IS SUPERVISED BY THE 0RESIDENT OF THE

#OUNCILOF-INISTERS

4HEBANKINGSYSTEMIN0OLANDISBUILTONTHREEPILLARS

4HE.ATIONAL"ANKOF0OLANDISTHE2EPUBLICOF0O
LANDgS CENTRAL BANK )TS TASKS ARE STIPULATED IN THE
#ONSTITUTION OF THE 2EPUBLIC OF 0OLAND THE !CT ON
THE .ATIONAL "ANK OF 0OLAND AND THE "ANKING !CT
4HEFUNDAMENTALOBJECTIVEOFTHE."0gSACTIVITYISTO
MAINTAINPRICESTABILITY4HEMOSTIMPORTANTAREASOF
ACTIVITYFORTHE."0ARE

II.3.1.1. National Bank

of Poland

)#ENTRALBANKTHE.ATIONAL"ANKOF0OLANDk."0
))#OMMERCIALBANKS
)))#OOPERATIVEBANKS
&ROMST*ANUARYBANKINGSUPERVISIONHASBEEN
CARRIEDOUTBYTHE0OLISH&INANCIAL3UPERVISION!UTHOR
ITY0&3!+OMISJA.ADZORU&INANSOWEGO+.& AS
STIPULATEDINTHE*ULYACTONTHESUPERVISIONOF
THENANCIALMARKET

MONETARYPOLICY
THEISSUEOFCURRENCY
THEDEVELOPMENTOFTHEPAYMENTSYSTEM
THEMANAGEMENTOFOFCIALRESERVES
EDUCATIONANDINFORMATION
SERVICESTOTHE3TATE4REASURY

4HEMERGEROFTHENANCIALANDBANKINGSUPERVISION
WAS A PRAGMATIC DECISION BASED ON THE EVOLUTION
OFTHE0OLISHNANCIALMARKETTHEGROWINGSIGNI
CANCE OF MULTINATIONAL NANCIAL GROUPS AND CROSS
SECTORNANCIALPRODUCTS

4HE MANAGEMENT AUTHORITIES OF THE ."0 ARE THE

0RESIDENT OF THE ."0 THE -ONETARY 0OLICY #OUNCIL
AND THE ."0 -ANAGEMENT "OARD 4HE -ONETARY
0OLICY#OUNCILLAYSDOWNTHEFOUNDATIONSFORMON
ETARYPOLICYSETSINTERESTRATESANDDENESTHELEVEL
OF OBLIGATORY RESERVES FOR COMMERCIAL BANKS 4HE
-ANAGEMENT"OARDDIRECTS."0ACTIVITIES)TSFUNDA
MENTALTASKSINCLUDETHEIMPLEMENTATIONOFRESOLU
TIONSFORTHE-ONETARY0OLICY#OUNCILTHEADOPTION
AND IMPLEMENTATION OF THE ."0 PLAN OF ACTIVITIES
THEEXECUTIONOFTHENANCIALPLANAPPROVEDBYTHE
#OUNCILANDTHEPERFORMANCEOFTASKSRELATEDTOTHE
EXCHANGERATEPOLICYANDTHEPAYMENTSYSTEM

"EFORE ST *ANUARY  BANKING SUPERVISION

CONDUCTED BY THE #OMMISSION FOR "ANKING 3UPER
VISION +OMISJA .ADZORU "ANKOWEGO +."  HAD
ALIMITEDOBJECTIVEWHICHWASTOENSURETHESAFETY
OF DEPOSITS HELD BY BANKS 4HE AIMS OF THE 0&3!
ARE MUCH BROADER AND INCLUDE UNDERTAKING MEAS
URES DESIGNED TO ENSURE THE REGULAR OPERATION OF
THE NANCIAL MARKET ITS STABILITY SAFETY AND TRANS
PARENCY  #ONSUMER ISSUES SUCH AS DEALING WITH
COMPLAINTS NANCIAL EDUCATION AND CODES OF BEST
PRACTICEWERENOTCONSIDEREDPARTICULARLYIMPORTANT
BEFOREST*ANUARY



Financial markets and institutions

II.3.1.2. Commercial banks

!S OF 1   COMMERCIAL BANKS AND 
BRANCHESOFCREDITINSTITUTIONSWERECONDUCTINGOP
ERATIONSIN0OLAND
-ERGERSANDACQUISITIONSAREAMONGTHEMOSTIMPOR
TANTMETHODSOFGROWTHUSEDBYCOMMERCIALBANKS
4HESETRANSACTIONSBECAMEPOPULARIN0OLANDASEARLY
ASTHEMID SANDHAVELEDTOSIGNICANTCHANGES
IN THE OPERATION OF THE ENTIRE BANKING SYSTEM OVER
THE FOLLOWING DECADE !S A RESULT THE NUMBER OF
ENTITIES DECREASED IN PARTICULAR THOSE WHICH WERE
ECONOMICALLYWEAKWITHTHEEXISTINGBANKSBECOM
INGMODERNISEDANDTHEGROWTHPOTENTIALOFTHE
NANCIALMARKETRISINGSIGNICANTLY#ONSOLIDATIONHAS
ALSORESULTEDINTHEDIFFUSIONOFBANKINGACTIVITYAND
RISKMANAGEMENTSTANDARDSELABORATEDBYHIGHLYDE
VELOPEDCOUNTRIESOVERTHEYEARS
&OREIGNINVESTORSHAVEADECISIVEIMPACTONCONSOLI
DATION IN 0OLAND !NOTHER IMPORTANT TREND NOTED
IS THAT GLOBAL BANKS HAVE DOMINATED THESE TRANS
ACTIONS3UCHENTITIESAREBOTHTHEINITIATORSOFTHE
TRANSACTIONANDINSTITUTIONSMOSTSOUGHTAFTERFORA
MERGERORACQUISITION)NTHE0OLISHBANKINGSECTOR
THEREISSTILLGREATPOTENTIALFORTHEDEVELOPMENTOF
MERGERSANDACQUISITIONSANDTHEPROCESSOFBANKSg
CONSOLIDATION IS STILL TO BE NISHED )N 0OLAND FUR
THER-!TRANSACTIONSWILLMAINLYRESULTFROMTHOSE
ENTEREDINTOONINTERNATIONALMARKETSBYTHEOWN
ERSOF0OLISHENTITIES



II.3.2. Stock exchange

and capital market
regulations
4HE 7ARSAW 3TOCK %XCHANGE 'IEDA 0APIERW
7ARTOCIOWYCHW7ARSZAWIE3!73% ISAJOINT
STOCKCOMPANYFOUNDEDBYTHE3TATE4REASURY4HE
73%BEGANITSACTIVITYIN!PRILATTHETIMEOF
WRITING .OVEMBER  INVESTORS COULD BUY AND
SELL ON 73% STOCKS OF ALMOST  COMPANIES )N
!UGUST73%LAUNCHEDTHE.EW#ONNECTkA
MARKET FOR YOUNG COMPANIES WITH A LARGE GROWTH
POTENTIAL ON WHICH  COMPANIES ARE CURRENTLY
LISTED4HE73%ASWELLASTHEOTHERENTITIESOPER
ATING IN THE 0OLISH CAPITAL MARKETS IE INVESTMENT
RMS AND ENTITIES OPERATING INVESTMENT FUNDS  IS
AUTHORISED BY THE 0&3! +OMISJA .ADZORU &INAN
SOWEGO  4RANSACTIONS ON THE 73% ARE EXECUTED
FROM  AM TO  PM THIS DOES NOT APPLY TO
BLOCKTRADES 
4HE FOLLOWING INSTRUMENTS ARE ALL TRADED ON THE
73% SHARES BONDS SUBSCRIPTION RIGHTS FUTURES
OPTIONSINDEXPARTICIPATIONUNITSALLOTMENTCERTI
CATESINVESTMENTCERTICATESANDDERIVATIVEINSTRU
MENTS

k






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Financial markets and institutions

Financial markets and institutions

#APITALMARKETIN0OLANDISREGULATEDBYTHREEMAIN
ACTS
ON 0UBLIC /FFERING #ONDITIONS 'OVERNING THE
)NTRODUCTION OF &INANCIAL )NSTRUMENTS TO /RGAN
ISED4RADINGAND0UBLIC#OMPANIES
ON4RADINGIN&INANCIAL)NSTRUMENTS
ON#APITAL-ARKET3UPERVISION
!LLOFTHESEAREDATEDTH*ULY

II.3.2.1.
Main and alternative markets
4HE FUNCTIONING OF THE 7ARSAW 3TOCK %XCHANGE IS
BASEDONTHREELEGALACTSDATEDTH*ULY
THEACTON0UBLIC/FFERING#ONDITIONS'OVERNING
THE)NTRODUCTIONOF&INANCIAL)NSTRUMENTSTO/RGAN
ISED4RADINGAND0UBLIC#OMPANIES
THE!CTON4RADINGIN&INANCIAL)NSTRUMENTS
THE!CTON#APITAL-ARKET3UPERVISION
4HECAPITALMARKETIN0OLANDWASCREATEDIN
WHENTHERST-ERCANTILE%XCHANGEWASSETUPTO
OPERATEINTHE7ARSAW%XCHANGE!CTIVITYINITSCUR
RENT FORM STARTED ON TH !PRIL  BY ORGANIS
ING FROM THE BEGINNING SECURITIES TRADING IN AN
ELECTRONICFORM
!S OF -AY  THE OWNERSHIP OF THE 3TOCK %X
CHANGEWASASFOLLOWS
THE3TATE4REASURY
OTHERENTITIESINCLUDINGBANKS
ANDBROKERAGEHOUSES
4HE'ENERAL-EETINGOF3HAREHOLDERSISTHEHIGHEST
DECISION MAKING BODY ITS MAIN FUNCTION BEING TO
SELECTMEMBERSOFTHE3UPERVISORY"OARDANDTHE
0RESIDENTOFTHE-ANAGEMENT"OARD4HE-ANAGE
MENT"OARDCOMPRISESFOURMEMBERSWITHTHE0RESI
DENT OF THE -ANAGEMENT "OARD BEING ELECTED FOR A
THREE YEARTERM
4HE PURPOSE OF THE 73% IS TO ORGANISE TRADING IN
NANCIAL INSTRUMENTS 4HE %XCHANGE PROVIDES A
CONCENTRATION OF BUY AND SELL OFFERS IN ONE PLACE
AND TIME IN ORDER TO DETERMINE THE COURSE OF THE
TRANSACTION 4RADING SYSTEMS VALID ON THE 7ARSAW
3TOCK%XCHANGEARECHARACTERISEDBYTHEEXCHANGE



OF INDIVIDUAL NANCIAL INSTRUMENTS BEING BASED ON

THEORDERSOFBUYERSANDSELLERSANDTHEREFOREBE
ING CALLED ORDER DRIVEN 4HIS MEANS THAT IN ORDER
TODETERMINETHEPRICEOFTHEINSTRUMENTSASUM
MARYDISPOSITIONOFPURCHASEORDERSANDSALESMUST
BEPREPARED4HEMATCHINGOFTHESEORDERSISDONE
ACCORDINGTOSTRICTRULESANDTHECHECKOUTPROCESS
TAKESPLACEDURINGTRADINGSESSIONS4OIMPROVETHE
LIQUIDITYOFTRADEDINSTRUMENTSTHEMEMBERSOFTHE
EXCHANGE OR OTHER NANCIAL INSTITUTIONS CAN ACT AS
MARKET ANIMATORS PLACING ON THE BASIS OF AN AP
PROPRIATEAGREEMENTWITH%XCHANGE ORDERSTOBUY
ORSELLTHEINSTRUMENTONITSOWNACCOUNT4HESUB
JECTSOFTHETRADEONTHESTOCKMARKETARESECURITIES
STOCKSBONDSRIGHTSRIGHTSTOSHARESINVESTMENT
CERTICATESANDDERIVATIVES FORWARDCONTRACTSOP
TIONSANDINDEXUNITS
7ARSAW 3TOCK %XCHANGE OPERATES IN NANCIAL IN
STRUMENTSONTWOMARKETS
-AINMARKET
4HE73%-AIN-ARKETHASRUNSINCETHE3TOCK%X
CHANGEgSINCEPTIONON!PRIL4HEMARKET
IS SUPERVISED BY THE 0OLISH &INANCIAL 3UPERVISION
!UTHORITYANDNOTIEDTOTHE%UROPEAN#OMMIS
SIONASAREGULATEDMARKET
!LTERNATIVEMARKET
.EW#ONNECT IS ORGANISED AND MAINTAINED BY THE
%XCHANGEACTINGINTHEKEYMARKETFORANALTERNATIVE
SYSTEMOFTRADE)TWASCREATEDFORTHEYOUNGAND
GROWINGCOMPANIESPARTICULARLYWORKINGWITHNEW
TECHNOLOGYANDHASFUNCTIONEDSINCETH!UGUST
4HESUBJECTOFTRADEINANALTERNATIVESYSTEM
MAYBESHARESTHERIGHTSTOSHARES0$! RIGHTSDE
POSITARYRECEIPTSANDOTHEREQUITYSECURITIES
#URRENTLY THE 73% IMPLEMENTS THE DEVELOPMENT
STRATEGY DESIGNED TO ENHANCE THE ATTRACTIVENESS
ANDCOMPETITIVENESSOFTHEMARKETANDMAKE7AR

.UMBEROFCOMPANIES

$OMESTIC &OREIGN

4OTAL

-AINMARKET





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Financial markets and institutions

#APITALIZATION0,.MIL

$OMESTIC

&OREIGN

4OTAL

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!LTERNATIVEMARKET







4/4!,







3OURCE'07

SAW THE NANCIAL CENTRE OF #ENTRAL AND %ASTERN

%UROPE 4HE 0OLISH %XCHANGE IS NOW AN IMPORTANT
CAPITALSTOCKMARKETIN%UROPEANDALEADERIN#EN
TRALAND%ASTERN%UROPEUSINGTHEPOTENTIALDEVEL
OPMENTOFTHE0OLISHECONOMYANDTHEDYNAMISM
OFTHE0OLISHCAPITALMARKET

OPERATINGONTHOSEMARKETSTHE0&3!gS#HAIRPERSON
HAS THE POWERS OF A PROSECUTOR ENSUING FROM THE
PROVISIONSOFTHE#ODEOF#IVIL0ROCEDURE

II.3.2.3. Acquisition of
majorpackage of shares

II.3.2.2.
Polish Financial Supervision
Authority

2ULES REGARDING THE ACQUISITION OF MAJOR PACKAGE

OFSHARESAREAPPLICABLEONLYTOPUBLICCOMPANIES
4HEREARESOMESPECICLEVELSOFVOTESTHATCANBE
EXECUTEDDURINGGENERALSHAREHOLDERSMEETINGSTHE
EXCEEDING OF WHICH CAUSES SOME SPECIAL DUTIES TO
COMEINTOPLAY

4HE 0&3! INITIATED ITS ACTIVITY IN 3EPTEMBER 

)N ITS PRESENT FORM THE 0&3! COVERS BANKING SU
PERVISION CAPITAL MARKET SUPERVISION INSURANCE
SUPERVISION PENSION SCHEME SUPERVISION AND THE
SUPERVISION OF ELECTRONIC MONEY INSTITUTIONS 4HE
0&3!gS ACTIVITIES ARE SUPERVISED BY THE 0RESIDENT OF
THE0OLISH#OUNCILOF-INISTERS

!NYONEWHO
HASACHIEVEDOREXCEEDED
OROFTHETOTALVOTEOR
HAS HELD AT LEAST     
OROFTHETOTALVOTEANDAS
ARESULTOFAREDUCTIONOFITSEQUITYINTERESTHOLDS
       
OR  OR LESS OF THE TOTAL VOTE RESPECTIVELY IS
OBLIGED TO NOTIFY THE 0OLISH &INANCIAL 3UPERVISION
!UTHORITY AND THE COMPANY OF THIS FACT IMMEDI
ATELY4HISMUSTBEDONENOLATERTHANWITHINFOUR
BUSINESSDAYSFROMTHEDATEONWHICHTHESHARE
HOLDER BECAME OR BY EXERCISING DUE DILIGENCE
COULD HAVE BECOME AWARE OF THE CHANGE IN HIS
SHAREINTHETOTALVOTE

4HE MAIN PURPOSE OF THIS SUPERVISION OF THE

NANCIAL MARKET IS TO ENSURE THE PROPER OPERATION
STABILITY SECURITY AND TRANSPARENCY OF THE NANCIAL
MARKETASWELLASTOENSURECONDENCEINTHATMAR
KETANDTOSAFEGUARDTHEINTERESTSOFTHENANCIAL
MARKETPARTICIPANTS
4HE TASKS OF 0&3! INCLUDE AMONG OTHER THINGS
UNDERTAKINGMEASURESAIMEDATENSURINGTHEREGU
LAR OPERATION OF THE NANCIAL MARKET UNDERTAKING
MEASURES AIMED AT THE DEVELOPMENT OF THE NAN
CIAL MARKET AND ITS COMPETITIVENESS AND UNDERTAK
ING EDUCATIONAL AND INFORMATION MEASURES RELATED
TONANCIALMARKETOPERATION

)NTHECASEOFACHANGERESULTINGFROMTHEACQUISI
TIONOFSHARESOFAPUBLICCOMPANYINATRANSACTION
ONAREGULATEDMARKETEGASTOCKEXCHANGE THE
ABOVEMENTIONEDREQUIREMENTISDUENOLATERTHAN
WITHINSIXTRADINGDAYSFROMTHETRANSACTIONDATE

4HE0&3!ISCOMPOSEDOFA#HAIRPERSONTWO6ICE
#HAIRPERSONSANDFOURMEMBERS
)TISWORTHNOTINGTHATINCIVIL LAWCASESARISINGFROM
THE RELATIONSHIPS ENTERED INTO IN CONNECTION WITH
PARTICIPATION IN TRADING ON THE BANKING PENSION
INSURANCEORCAPITALMARKETSORRELATINGTOENTITIES

4HENOTICATIONREQUIREMENTMENTIONEDABOVEAP
PLIESALSOTOASHAREHOLDERWHO



Financial markets and institutions

HASHELDOVEROFTHETOTALVOTEANDTHISSHARE
HASCHANGEDBYATLEAST
    OF THE TOTAL VOTE IN THE CASE OF A PUBLIC
COMPANYWHOSESHARESHAVEBEENADMITTEDTO
TRADING ON THE OFCIAL STOCK EXCHANGE LISTING
MARKETOR
    OF THE TOTAL VOTE IN THE CASE OF A PUBLIC
COMPANYWHOSESHARESHAVEBEENADMITTEDTO
TRADINGONAREGULATEDMARKETOTHERTHANTHE
ONESPECIEDABOVE
HASHELDOVEROFTHETOTALVOTEANDTHISSHARE
HASCHANGEDBYATLEAST
)N SOME CASES THE ACQUISITION OF SHARES MAY BE
DONE ONLY BY WAY OF A TENDER OFFER )N THE EVENT
OFTHEACQUISITIONOFANUMBEROFSHARESINAPUBLIC
COMPANY WHICH INCREASES A SHAREHOLDERgS SHARE IN
THETOTALVOTEBYMORETHAN
WITHINAPERIODOFLESSTHANDAYSINTHE
CASEOFASHAREHOLDERHOLDINGLESSTHANOFTHE
TOTALVOTEATTHECOMPANY
ORWITHINMONTHSINTHECASEOFASHARE
HOLDERHOLDINGORMOREOFTHETOTALVOTEAT
THECOMPANY
3UCHACQUISITIONMAYBEDONEONLYBYWAYOFATEN
DEROFFERTOSUBSCRIBEFORSALEOREXCHANGEOFTHOSE
SHARESINNOLESSTHANOROFTHETOTALVOTE
RESPECTIVELY
0OLISH LAW PROVIDES MANDATORY BUY OUT INSULATION
! SHAREHOLDER IN A PUBLIC COMPANY WHO INDIVIDU
ALLYORJOINTLYWITHITSSUBSIDIARIESORPARENTENTITIES
HASREACHEDOREXCEEDEDOFTHETOTALVOTEIN
THECOMPANYSHALLBEENTITLEDWITHINTHREEMONTHS
FROM THE DAY ON WHICH THIS THRESHOLD HAS BEEN
REACHED OR EXCEEDED TO DEMAND THAT THE OTHER
SHAREHOLDERSSELLALLTHESHARESHELDINTHECOMPANY

SPECIALFUNDSINTHESTRUCTUREOFTHENANCIALCOR
PORATIONS
CONSULTINGCOMPANIES
&UNDINGINTHE6#MOSTLYCOMESFROMFOREIGNINVES
TORS(OWEVEROVERTHELASTFEWYEARS0OLISHENTITIES
HAVEALSOBEENVERYACTIVEINTHISAREA

II.3.3.
Insurance regulations
,EGAL ACTS IN 0OLAND SPECIFY TWO SECTIONS OF INSUR
ANCE4HERSTSECTIONINCLUDESLIFEINSURANCEWHILST
THESECONDSECTIONINCLUDESTHEREMAININGPERSONAL
ANDPROPERTYINSURANCETYPES!NINSURANCECOMPA
NYCANNOTCONDUCTINSURANCEACTIVITYSIMULTANEOUSLY
INTHESCOPEOFBOTHTHESESECTIONS
4HEMAINLEGALACTSRELATEDTOINSURANCEACTIVITIESIN
0OLANDREGULATETHEAREASOF
INSURANCEACTIVITY
INSURANCEMEDIATION
COMPULSORYINSURANCE
THE )NSURANCE 'UARANTEE &UND AND 0OLISH -OTOR
)NSURERSg"UREAU
INSURANCEANDPENSIONFUNDSSUPERVISIONAND)NSUR
ANCE/MBUDSMAN
)NSURANCE ACTIVITIES CAN BE PURSUED ONLY BY AN IN
SURANCE COMPANY ESTABLISHED AS A PUBLIC LIMITED
COMPANYORAMUTUALINSURANCESOCIETY4HE0OLISH
INSURANCEMARKETISSUPERVISEDBYTHE0OLISH&INAN
CIAL3UPERVISION!UTHORITY+OMISJA.ADZORU&INAN
SOWEGO "ROKERSMUSTBELOCALLYLICENSED
4HE POLICY LANGUAGE IS IN 0OLISH AS IS THE UNIT OF
CURRENCYZLOTY0,. 

II.3.2.4. Venture Capital Funds

4HEMAINCOMPULSORYINSURANCEACCORDINGTO0OLISHLAW

6ENTURE #APITAL 6# &UNDS STARTED TO OPERATE IN

0OLANDATTHEBEGINNINGOFTHEgS4HESEDAYSBE
TWEEN  AND  6# MANAGEMENT COMPANIES ARE
PRESENTONTHE0OLISHMARKETASIGNICANTPROPORTION
OFWHICHAREFOREIGNENTITIESLOOKINGFORINVESTMENT
OPPORTUNITIES IN #ENTRAL %ASTERN %UROPE 4HE MOST
COMMONTYPESOFENTITIESACTIVEINTHE6#AREAARE
INVESTMENTFUNDS
INVESTMENTBANKS



THIRD PARTY AUTOMOBILE LIABILITY WITH A MINIMUM

LIMITOF%52MILLIONFORCORPORALINJURYINEACH
ACCIDENTAND%52FORMATERIALDAMAGEIN
EACHACCIDENT 
FARMERSTHIRDPARTYLIABILITY
REANDOTHERNATURALDISASTERSCOVERAGEFORFARM
BUILDING
WORKERSg COMPENSATION SOCIAL SECURITY SCHEME
COVERINGHEALTHANDPENSIONS 
LAWYERSgNOTARIESANDCOUNCILLORgSTHIRDPARTYLIABILITY

Financial markets and institutions

TAXADVISORSgTHIRDPARTYLIABILITY
OTHERINSURANCELISTEDINTHEAPPLICABLELAW

MARGINWHICHTHEBANKADDSTOTHE0OLISH7)"/2
,)"/2INTERESTRATE
THE TOTAL NANCING COSTS DEPEND ON THE RELIABIL
ITY OF EACH CUSTOMER SECURITIES PROVIDED AND THE
LENGTHOFTHENANCINGPERIOD
)F THE BANK ISSUES A POSITIVE OPINION OF A PLANNED
INVESTMENT PROJECT EG A FACTORY IT REQUIRES SPE
CIALCONTRACTCLAUSESTOSECURETHEREPAYMENTOFTHE
LOAN 4HESE USUALLY INVOLVE THE MOTHER COMPANY
INTOTHERISKOFTHEPROJECT

4YPICALCONTRACTCLAUSESARE

II.3.4.
Investment financing
'ENERAL)NFORMATION

0OLISH BANK LAWAND RELATED REGULATIONSARERATHER

RESTRICTIVE AND CONSERVATIVE IN COMPARISON WITH
MOST OF OTHER %UROPEAN SYSTEMS AND AN INVESTOR
MAY EXPECT HIGHER REQUIREMENTS REGARDING LOAN
COLLATERALS AND DEBT COVERAGE RATIOS !T THE SAME
TIME0OLISHBANKSYSTEMISCOMPETITIVEANDEFCIENT
WHATCANBESEENINTHELATESTEDITIONOF$OING"USI
NESS7ORLD"ANK WHERE0OLANDWASRANKED
RD FROM ALL LISTED COUNTRIES IN TERMS OF GETTING A
BANKCREDITBYACOMPANY7HATISMORERESTRICTIVE
REGULATIONSKEPTTHE0OLISHBANKSECTORHEALTHYAND
ALMOSTINTACTBYTHE&INANCIAL#RISIS

#OMMON)SSUES

4HEMAINPROBLEMSINNANCINGSTART UPINVESTMENTS
IN0OLANDARECONNECTEDTOTHELACKOFCREDITHISTORY
ANDUSUALLYTHEMOTHERCOMPANYHASTOPROVIDEAC
CEPTABLESECURITIES

-AINPOSSIBLEISSUESWITHNANCINGPROCESSIN0OLAND

TURNOVERCLAUSE
DEBTRESTRICTION
0ARI0ASSUSUBORDINATIONOFLOANSFROMCONNECTED
COMPANIES 
DIVIDENDCLAUSE
NANCIALINDICATORS
4HEMAINSECURITIESUSEDBYTHEBANKSFORINVESTMENT
NANCINGARE

MORTGAGEONTHEREALESTATE
LETTEROFCOMFORTCOMPANIESWITHSTRONGMOTHER 
BANKORCORPORATEGUARANTEE
 LIEN ON MOVABLE OBJECTS STRONG ASSET DRIVEN IN
VESTMENT 
LONG TERMFUELCONTRACTINGLOGISTICSCOMPANIES 
CONTRACTSFORABOUTHALFOFTHESALESVALUELOGIS
TICSCOMPANIES 

&OLLOWING DOCUMENTS AND INFORMATION SHOULD BE

PROVIDED

COMPLICATEDDECISIONPROCESSIN0OLISHBANKSOWING
TOHIDDENINFORMATION
RELATIVELY LONG DECISION PROCESS IN THE BANKS DE
PENDINGONNANCINGVOLUME WHICHOFTENCAUSES
A PROBLEM FOR SHORTkTERM 3/0S CONSIDERING CUS
TOMERDEMAND
MISTAKESINNANCIALDOCUMENTATIONSTABLENAN
CIALFORECASTINGETC MADEBYINVESTORS
PROPERCOMMUNICATIONWITHBANKAUTHORITIES

#OSTSOFLOCALDEBTNANCINGANDADDITIONAL
REQUIREMENTS

OPINIONABOUTTHECUSTOMER{SCREDIBILITYWITHINFOR
MATIONABOUTOFFEREDSECURITIES
L)NFORMATIONABOUTMOTHERCOMPANYGROUPWITH
ANOPTIONTOSECURETHELOANWITHINTHEGROUP
NANCIALDATAANDAPROFESSIONALBUSINESSPLANDE
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)NORDERTOACHIEVEAPOSITIVEOPINIONTHEINVESTING
COMPANYMUSTPREPAREAPROFESSIONALBUSINESSPLAN
WITHALLEXPECTEDNANCIALDATAFORTHEPROJECT4HE
DOCUMENTATIONISREQUIREDBYMOST0OLISHBANKSIN
0OLISHLANGUAGE

ALMOSTALLBANKSREQUIREATLEASTkEQUITY
INTHEINVESTMENTPROJECTSASWELLASSETSSUCHAS
LANDMACHINESOROTHEREQUIPMENT 
THE PRICING IS USUALLY DIVIDED INTO A X UP FRONT
FEEBETWEENANDDEPENDINGONTHERISK
ANDEFFORTOFTHENANCINGPROJECTANDAVARIABLE



Financial markets and institutions

II.3.5.
List of banks
4HE FOLLOWING TABLE SUMMARIZES THE LIST OF BANKS WITH  %52 DEPOSIT GUARANTEE OPERATING IN 0OLAND
4HEVELARGEST0OLISHBANKSININTERMSOFBOOKVALUEOFASSETSWERE0+/"00EKAO3!":7"+M"ANK).'
.AME

!DDRESS

0ROLE

#APITAL'ROUP

7EBPAGE

!LIOR"ANK3!

!L*EROZOLIMSKIE
 7ARSZAWA

UNIVERSAL

WWWALIORBANKPL

"ANK"0(3!

UL4OWAROWAA
 7ARSZAWA

UNIVERSAL

'%#APITAL

WWWBPHPL

"ANK$N"./2$
0OLSKA3!

UL0OSTPUC
 7ARSZAWA

CORPORATE

$."

WWWDNBNORDPL

"ANK'OSPODARKI
YWNOCIOWEJ3!

UL+ASPRZAKA
 7ARSZAWA

UNIVERSAL

2ABOBANK

WWWBGZPL

"ANK'OSPODARSTWA
+RAJOWEGO

!L*EROZOLIMSKIE
 7ARSZAWA

PUBLIC
INVESTMENTS

WWWBGKCOMPL

"ANK(ANDLOWY
W7ARSZAWIE3!

UL3ENATORSKA
 7ARSZAWA

UNIVERSAL

#ITIGROUP

WWWCITIBANKPL

"ANK
-ILLENNIUM3!

UL3TANISAWAARYNAA
 7ARSZAWA

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"ANCO#OMER
CIAL0ORTUGES

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NIUMPL

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RODOWISKA3!

!L*ANA0AWA))
 7ARSZAWA

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SUBISHI5&*0OLSKA
3!

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 7ARSZAWA

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/PIEKI3!

UL'RZYBOWSKA
 7ARSZAWA

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5NICREDIT

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3PDZIELCZOCI3!

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 7ARSZAWA

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 7ROCAW

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0OLSKA3!

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 7ARSZAWA

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#OMMERZBANK

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#REDIT!GRICOLE"ANK
0OLSKA3!

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 7ROCAW

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$EUTSCHE"ANK0"#
3!

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 7ARSZAWA

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$EUTSCHE"ANK

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Financial markets and institutions

$:"!.+
0OLSKA3!

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SUMERPL

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II.4.

Resources &
business sectors
II.4.1.
Natural resources

AROUND+ATOWICE-YSOWICE$BROWA'RNICZA

2YBNIK*ASTRZBIE:DRJANDNEIGHBOURINGCITIES
,UBELSKIE VOIVODSHIP THE YOUNGEST COAL MINING
REGIONWITHONECOALMINEAT"OGDANKACLOSETO
CZNA4HEREAREMANYPERSPECTIVEDEPOSITSHERE
2OUGHLY  OF THIS COAL IS CONSUMED FOR ENERGY
GENERATIONWITHMORETHANUSEDFORPOWERAND
POWER HEAT PLANTS AND THE REST BEING USED TO HEAT
PLANTSANDPRIVATEHOUSEHOLDS

II.4.1.1. Coal
#OALANDLIGNITEARETHEMAINRAWMATERIALSFORTHE
ENERGYPRODUCTIONIN0OLAND4HEMAJORDIFFERENCES
BETWEENTHETWOMATERIALSARETHEMEANSOFMINING
THEMANDTHEIRCALORICVALUE

,IGNITE IS EXTRACTED IN OPEN CAST MINES 4HIS METHOD

HASMUCHMOREOFANIMPACTONTHEENVIRONMENTNOT
ONLYBYPHYSICALLYCHANGINGTHELANDSCAPEBYDIGGING
ABIGHOLEINTHEGROUND BUTALSOINTERMSOFPOLLU
TION4HECALORICVALUEISALSOMUCHLOWERTHANTHATOF
COAL)TISTHEREFORENOTWORTHTRANSPORTINGLIGNITELONG
DISTANCESANDITISNOTUSEDBYPRIVATEHOUSEHOLDS$UE
TOTHESEFACTORSPOWERPLANTSAREOFTENBUILTVERYCLOSE
TOMINES3UCHADUETOFMINEANDPLANTCANBEFOUND
INTHREEPLACESIN0OLAND

#OALISEXTRACTEDINUNDERGROUNDMINESANDITSCALO
RIC VALUE IS BIGGER !LTHOUGH THE MINING METHOD
ITSELFISMOREEXPENSIVEITDOESNOTCAUSEANYSIG
NICANTIMPACTONTHELANDABOVEIT$ESPITESOME
LIMITEDSOCALLEDfMINEDAMAGESgONTHESURFACE
ITISPOSSIBLETOCONSTRUCTBUILDINGSROADSANDEVEN
ENTIRECITIESABOVESUCHMINES

4URWINTHESOUTH WESTERNENDOF0OLANDCLOSE

TO'ERMANYAND#ZECH2EPUBLICEXTRACTEDBYTHE
0'%3!
"ECHATW IN THE SOUTH FROM D EXTRACTED BY
THE0'%3!
+ONINTOTHEEASTOF0OZNAEXTRACTEDBY:%0!+3!

4HERE ARE THREE AREAS IN 0OLAND WHERE COAL IS OR

WASEXTRACTED
$OLNOLSKIE VOIVODSHIP IN THE SURROUNDINGS OF
7ABRZYCHAND.OWA2UDA#OALISNOLONGEREX
TRACTED HERE WITH THE REGION NOW SET UP TO DE
VELOPOTHERKINDSOFINDUSTRIESMAINTAININGONEOF
THE BIGGEST AND BEST OPERATING 3PECIAL %CONOMIC
:ONES

4HERE IS ALSO ONE SMALL STAND ALONE LIGNITE MINE IN

3IENIAWAINAVILLAGECLOSETOWIEBODZININ,UBUSKIE
VOIVODSHIP )T USED TO BE AN UNDERGROUND MINE BUT
SINCEITHASALSOBEENANOPEN CASTMINETHEIM
PORTANCEOFWHICHISVERYSMALL

LSKIE VOIVODSHIP THE TRADITIONAL 0OLISH REGION

FOR COAL MINING AND ALSO THE STEEL INDUSTRY  !P
PROXIMATELYMOFCOALISAVAILABLE-OSTOF
THE MINING COMPANIES AND ACTIVITIES ARE LOCATED

'EOLOGICAL RESOURCES OF LIGNITE AS OF 

WEREMILLIONTONNESANDHAVEINCREASED
BYMILLIONTONNESCOMPAREDTO



Resources & business sectors

,IGNITEDEPOSITSIN0OLAND

'DASK

3ZCZECIN
4ORU
'ORZW7LKP

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,IGNITEDEPOSITSGEOLOGICALRESERVESDOCUMENTEDANDFUTURE
%XPLOITEDDEPOSITS
4527

.AMESOFEXPLOITEDDEPOSITSNADMINES

4HEREAREMANYOTHERDEPOSITSOFLIGNITEIN0OLAND
WHICH HAVE NOT BEEN EXPLOITED AS OF YET /NE OF
THE BIGGEST IS IN THE SURROUNDINGS OF ,EGNICA IN
$OLNOLSKIEVOIVODSHIP4HEREISCURRENTLYADEBATE
ASTOWHETHERTOSTARTEXPLOITINGTHESEBEDSAMOVE
WHICH COULD EVENTUALLY MAKE SOME VILLAGES IN THE
AREADISAPPEAR4HEATTACHEDMAPSHOWSTHELIGNITE
DEPOSITSIN0OLANDkINDARKBLUETHEONESTHATARE
CURRENTLY EXPLOITED IN LIGHT BLUE THE ONES WHICH
HAVE BEEN DISCOVERED BUT NOT EXPLOITED AS OF YET
-OSTOFTHESEAREGEOLOGICALLYCONRMED




0OLISH'EOLOGICAL)NSTITUTE
0'.I'



II.4.1.2. Oil & Gas

$EPOSITS OF CRUDE OIL AND NATURAL GAS IN 0OLAND
ARE LIMITED )N  THE OVERALL QUANTITY OF CRUDE
OIL MINED IN 0OLAND WAS AROUND  TONNES
ANDINCREASEDBYTONNESINCOMPARISONWITH
 NEARLY A  INCREASE  4HIS SIGNICANT
INCREASE OF OIL PRODUCTION IS ASSOCIATED WITH THE
OPENINGOF0OLANDgSLARGESTMINEOF0ETROLEUMAND
.ATURAL'ASk,UBIATWANDTHECOMMENCEMENTOF
MININGIN.ORWAYBY0'.I'5PSTREAM)NTERNATION
AL)NTHECASEOFNATURALGASDOMESTICEXPLOITATION

Resources & business sectors

'ASANDOILEXPLOITATIONIN0OLAND

2ESOURCE

.UMBER
OFBEDS

.ATURALGAS
#RUDEOIL

$EPOSITS

9EARLY%XPLOITATION

%XPLOITABLE

)NDUSTRIAL




BNM


BNM

BNM




MTONS


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MTONS

3OURCE0OLISH'EOLOGICAL)NSTITUTE

AMOUNTEDTOBILLIONMANDWASBILLION
MLOWERTHANIN)NEXPLOITABLENATURAL
GASRESOURCESAMOUNTEDTOBILLIONMAND
DECREASEDBYBILLIONMCOMPAREDTOPRI
MARILYASARESULTOFMINING)NFOLLOWINGNEW
THEDISCOVERYOFGASELDWEREDISCOVERED"RZZKA
MILLIONM AND0ODOLIAMILLIONM 

SIBILITIES INCLUDE BUILDING NEW PIPELINES EG FROM

THE #AUCASUSES OR .ORDIC #OUNTRIES OR BUILDING
GAS STORAGE AT "ALTIC PORTS 3UCH INVESTMENTS ARE
EXPENSIVEANDTHEYNEEDTOINVOLVEMANYDIFFERENT
COUNTRIES$UETOSEVERALECONOMICCONSTRAINTSAND
POLITICALTENSIONSMAKINGPREDICTIONSABOUTFUTURE
DEVELOPMENTSISVERYDIFCULT

4HEBIGGESTDEPOSITSOFOILCANBEFOUNDINTHEAREA
AROUND 'ORZW 7IELKOPOLSKI ALTHOUGH OIL IS ALSO
EXTRACTEDINTHE0OMORZE:ACHODNIEASWELLINTHE
#ARPATHIAN-OUNTAINS$EPOSITSUNDERTHEBEDOF
THE"ALTIC3EAAREALSOUSEDANDGAINEVENMOREIN
DUSTRIALMEANING

2ECENTREPORTSINDICATETHAT0OLANDMAYHAVELARGE
SHALEGASRESOURCES0OLANDgSRESERVESOFSHALEGAS
AREESTIMATEDTOBEASMUCHASTRILLIONMBYGE
OLOGISTSANDENERGYCONSULTANTSPOTENTIALLYMAKING
0OLANDANETEXPORTEROFGAS

4HEEXPLOITEDDEPOSITSOFNATURALGASARESPREADIN
THE #ARPATHIAN -OUNTAINS *ASO +ROSNO 'ORLICE
IN THE SOUTHERN PART OF 7IELKOPOLSKIE VOIVODSHIP
/STRW 7LKP *AROCIN +OCIAN 'RODZISK 7LKP
'RA  IN THE ,UBUSKIE VOIVODSHIP +ROSNO /DRZ
7SCHOWA ATTHEBORDERBETWEENTHEVOIVODSHIPS
,UBUSKIE AND :ACHODNIOPOMORSKIE -YLIBRZ
3TRZELCE +RAJ -IDZYCHD "ARNWKO -OSTNO
"USZEWO ;"-"=  AND IN THE COASTAL AREA OF :A
CHODNIOPOMORSKIE +AMIE 0OMORSKI  4HERE ARE
ALSOSOMEGASDEPOSITSACCOMPANYINGTHEOILINTHE
"ALTIC3EA

II.4.1.3. Copper and silver

!SIDEFROMENERGYDEPOSITSkMETALLICCHEMICALAND
ROCKDEPOSITSCANALSOBEFOUNDIN0OLAND/UTOF
ALLMETALLICDEPOSITSBYWHICHOREDEPOSITSOFBASE
METALSAREMEANTTHEMOSTIMPORTANTAREDEPOSITS
OFCOPPERWHICHAREEXTRACTEDINTHEAREABETWEEN
,EGNICAAND'OGWIN$OLNOLSKIEVOIVODSHIPBY
+'(- k ONE OF THE BIGGEST COMPANIES IN 0OLAND
AND#ENTRAL%UROPE
#OPPERINTHEFORMOFCATHODESISEXPORTEDTOTHE
MARKETSOFTHE%UROPEAN5NIONMAINLYTOTHEROLLING
MILLSANDMETALFACTORIES4HERECIPIENTSAREMAINLY
WIRERODPRODUCTIONPLANTSSITUATEDIN#ENTRALAND
%ASTERN %UROPE BELONGING TO THE BIGGEST CABLE
MANUFACTURERS )N  COPPER RESOURCES IN THE
0OLISHREGIONSWHERETHERAWMATERIALWASMINEDIN
AMOUNTEDTOATOTALOFTONS#OM
PAREDTOTHEREWASADROPBYMILLION
TONSOFCOPPEROREMAINLYDUETOITSEXTRACTION4HE
SALESVOLUMEOFCOPPERANDCOPPERPRODUCTSONTHE
DOMESTICMARKETACCOUNTEDFOROFTOTALCOP

$UETOTHEINDUSTRIALLYANDECONOMICALLYINSUFCIENT
DEPOSITSOFNATURALGASANDOIL0OLANDRELIESHEAVILY
ON IMPORTS TO MEET ITS ENERGY NEEDS 5P TO 
OFOILANDGASIMPORTSCOMEFROM2USSIA4HEREARE
SEVERAL PIPELINES FOR GAS AND ONE FOR OIL MOST OF
WHICHARETRANSITPIPELINESTOOTHER%UROPEANCOUN
TRIES4RANSITCOUNTRIESFROM2USSIATO0OLANDARE"E
LARUSAND5KRAINE
4HERE ARE SEVERAL PLANS AND PROJECTS TO DIVERSIFY
IMPORTS OF THESE TWO ENERGY RESOURCES 4HE POS


0OLISH'EOLOGICAL)NSTITUTEAND3TRATEGYAND!NALYSES$EPARTMENT-INISTRYOF%CONOMY



Resources & business sectors

%XPLOITATIONOFOTHERDEPOSITSIN0OLAND
2ESOURCE

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DEPOSITS

#APACITY
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)NDUSTRIAL

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3OURCE0OLISH'EOLOGICAL)NSTITUTE-INERALAND#HEMICAL2ESOURCES

PERSALESWHILETHEREMAININGWEREGENERATED
BY EXPORT AND SALES TO %UROPEAN 5NION COUNTRIES
4HE BIGGEST PRODUCER OF COPPER COPPER PRODUCTS
ANDSILVERIN0OLANDIS+'(-0OLSKA-IED3!)N
 +'(- RANKED TH WORLDWIDE IN TERMS OF
COPPER PRODUCTION COPPER CONCENTRATE WITH PRO
DUCTIONOFTONSALMOSTOFGLOBALPRO
DUCTION 4HELARGESTFOREIGNBUYERSOFCOPPERPRO
DUCEDBY+'(-0OLSKA-IED3!WERE'ERMANY
#HINATHE#ZECH2EPUBLICAND&RANCE
4HE COPPER MINED IN $OLNOLSKIE VOIVODSHIP IN
UNDERGROUND MINES IS EXTRACTED TOGETHER WITH
OTHER METALS SUCH AS SILVER NICKEL AND LEAD 3ILVER
IS DELIVERED IN THE FORM OF GRANULES TO PLANTS PRO
DUCING MATERIALS FOR PHOTOGRAPHY JEWELLERS AND
METAL PLANTS PRODUCING SILVER ALLOYS 3ILVER IN THE
FORMOFINGOTSISSUPPLIEDMAINLYTOBANKS4HEDO
MESTICMARKETGENERATEDONLYOFTOTALSALESOF
SILVERWHILEEXPORTANDSALESTOTHE%UROPEAN5NION
COUNTRIES ACCOUNTED FOR THE REMAINING  4HE
LARGESTFOREIGNRECIPIENTSOFSILVERWERETHE5NITED
+INGDOM"ELGIUMANDTHE53!)NTHETOTAL
MINE PRODUCTION OF SILVER IN THE WORLD AMOUNTED
TO  MILLION OUNCES  TONS  4HE +'(-
RANKEDRDWORLDWIDEWITHPRODUCTIONOF
TONSOFSILVER



II.4.1.4. Other deposits

)N THE TH CENTURY IRON ORE WAS EXTRACTED IN
0OLAND IN THE AREAS AROUND #ZSTOCHOWA IN
WITOKRZYSKIEANDCLOSETOCZYCA4HEQUALITYOF
THESEDEPOSITSWASVERYPOORANDHASNOTBEENCON
SIDERED INDUSTRIAL STANDARD SINCE THE S .EW
DEPOSITS OF IRON ORE CONTAINING TRACES OF TITANIUM
ANDVANADIUMHAVEBEENIDENTIEDINTHE3UWALSKIE
REGION CLOSE TO THE NORTH EASTERN BOARDER OF 0O
LAND4HEEXPLOITATIONOFTHESEBEDSISNOTCURRENTLY
ECONOMICALLYFEASIBLEASTHEYLIERELATIVELYDEEP
TOMETRESBELOWTHEGROUND ANDARELOCATED
INANENVIRONMENTALLYPROTECTEDAREA)NADDITIONTO
THEPREVIOUSLYDESCRIBEDDEPOSITSTHEREISANOTHER
LITTLEIRONOREDEPOSITTONS $EBE-AEIN
TENDEDFORAPPLICATIONSOTHERTHANIRONMETALLURGY
MAINLY FOR THE PURICATION OF INDUSTRIAL GASES AS
SORBENTOFHYDROGENSULPHIDECARBONDIOXIDEAND
ORGANICSULPHURCOMPOUNDSANDOTHERAREASOFEN
VIRONMENTALPROTECTION
/THERMETALLICDEPOSITSIN0OLANDAREZINCANDLEAD
OREASWELLASNICKEL4HESEARELOCATEDONTHEBOR
DERBETWEENLSKIEAND-AOPOLSKIEVOIVODESHIPS
ANDAREEXTRACTEDCLOSETO/LKUSZAND#HRZANW

Resources & business sectors

4HENICKELORELIESIN$OLNOLSKIEVOIVODSHIPCLOSE
TO:BKOWICELSKIEWHEREITWASEXPLOITEDUNTIL
ATWHICHPOINTITCEASEDTOBEECONOMICALLY
FEASIBLE

MOST COMMON CROPS ARE GRAINS ESPECIALLY RYE

WHEAT BARLEY AND OATS !NOTHER IMPORTANT CROP
GROUPAREPOTATOESSUGARBEETSFODDERCROPSAX
HOPSTOBACCOANDFRUITS0OLANDCANBEFOUNDIN
DIVERSESTATISTICSASONEOFTHEBIGGESTPRODUCERSOF
POTATOESRYEANDSUGARBEETIN%UROPE"ECAUSEOF
THECLIMATEANDDIFFERENTIATEDSOILQUALITYAMONGST
THE REGIONS MIXED FARMING IS THE MOST COMMON
2AISEDLIVESTOCKINTHOSECASESISMOSTLYDAIRYCOWS
BEEFCATTLEPIGSANDPOULTRY

4HE SHARE OF 0OLISH WORKING AGE POPULATION EM

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and forestry

TOPURCHASEAGRICULTURALLANDSITUATEDIN

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PROVINCES $OLNOLSKIE +UJAWSKO 0OMORSKIE
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Resources & business sectors

HAVEPURSUEDFARMINGINPERSONONTHELANDCON
CERNEDANDHAVELEGALLYRESIDEDIN0OLAND

$EVELOPMENTOFTHESTRUCTUREOFSINGLE
AREAPAYMENTS

THE LEASE AGREEMENT WAS CONCLUDED IN WRITTEN

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LEASTTHREEYEARSASOFTHATDATE
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! CHARACTERISTIC FEATURE OF THE 0OLISH AGRICULTURAL

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II.4.3. Energy sector

4HERE ARE TWO ASPECTS OF THE ENERGY SECTOR IN 0O
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Resources & business sectors

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OPTIMAL

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5KRAINE

!LSO THE PRICE SHAPING MECHANISM IS ALMOST FREED

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SUPPORT4HELEVELOFSUPPORTPERJOBRANGESBE
TWEEN0,.AND0,.ANDTHEFOL
LOWINGFACTORSAREASSESSEDBYTHEGOVERNMENT
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NUMBEROFJOBSCREATED
QUANTITY OF JOBS CREATED IE THE NUMBER OF
JOBSFOREMPLOYEESWITHHIGHEREDUCATION
TYPE AND DEGREE OF SOPHISTICATION OF THE AC
COMPLISHEDPROCESSES
THEIRUNIQUENESS
INVESTMENTLOCATION
INVOLVEMENT IN THE DEVELOPMENT OF THE LOCAL
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'RANTSFROMTHE%5FUNDS
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 h3UPPORT FOR INVESTMENT IN MODERN SERVICES
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INCLUDEDINTONEW/PERATIONAL0ROGRAMMESUNDER
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II.4.6. Tourism
0OLANDISONEOFTHEMOSTFREQUENTLYVISITEDCOUN
TRIES IN #ENTRAL %UROPE AMONG NEW %5 MEMBERS
WITH MANY NATURAL AND CULTURAL ASSETS FOR THE DE
VELOPMENT OF DOMESTIC AND FOREIGN TOURISM 4HE
COASTAL AREA AROUND THE "ALTIC 3EA IS WORTH MEN



Resources & business sectors

TIONINGINPARTICULAR4HE-ASURIAN,AKE$ISTRICTTHE
4ATRA -OUNTAINS AND OTHER REGIONS OF THE COUNTRY
WITH A CLEAN ENVIRONMENT AND A MICRO CLIMATE FA
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PLACES LOCATED IN AREAS THAT ARE UNIQUE FOR THEIR
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#IECHOCINEK 2ABKA AND $USZNIKI :DRJ 4HE MOST
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II.5.

Infrastructure
II.5.1. Transport

4HANKSTOCOHESIONPOLICYFUNDSWHICH0OLANDHAS
TAPPED INTO SINCE THE ACCESSION TO THE %5 THE IN
FRASTRUCTURALINVESTMENTSHAVEACCELERATED4HE%5gS
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OUT OF TOTAL AVAILABLE PROGRAMME FUNDS OF 
BILLION %52  OF THE 0ROGRAMME FUNDS WERE
STREAMEDDIRECTLYFROMTHE%5BUDGET

II.5.1.1. Road network

4HE DEVELOPMENT OF THE ROAD TRANSPORTATION NET
WORK IN 0OLAND OVER THE LAST FEW YEARS HAS MADE
AN EXCEPTIONAL PROGRESS &ROM  TO  0O
LANDBUILTMOTORWAYSANDEXPRESSWAYSWITHATOTAL
LENGTH OF  KM !S OF $ECEMBER  THERE
WEREOVERKILOMETRESOFMOTORWAYSANDOVER
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"ETWEEN  AND  0OLAND WILL RECEIVE FROM

THE%5gSBUDGETk%52BILLIONFORTHECOHESION
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0OLANDPLANSTOSPENDOVERBILLION%52ON
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4HE PORTION OF THE %5 FUNDS ALLOCATED TO ROAD IN
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Infrastructure
HAVE PRIORITIZED THE INVESTMENTS IN THIS SECTOR AND
CONSIDERSITNECESSARYFORFUTUREDEVELOPMENT

WHO PARTICIPATE IN THE TENDERS 4HE MAJOR FOREIGN

CONSTRUCTORS INVOLVED ARE !STALDI 3P! 3ALINI
3P!BOTH)TALY 6INCI3!&RANCE 32")RELAND 
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3EXPRESSWAYFROM3ZCZECINTO'DAK
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II.5.1.2 Air transportation

0OLISHAIRTRANSPORTATIONBEGANINWITHAIGHT
BETWEEN0OZNAAND7ARSAW)N,/40OLISH
!IRLINES WAS ESTABLISHED AND UP TO THIS DAY IS THE
0OLISH AGSHIP CARRIER OPERATING FROM THE LARGEST
0OLISHAIRPORT&REDERIC#HOPIN!IRPORTIN7ARSAW
2ECENTYEARSHAVEBROUGHTLARGEINVESTMENTSINTHE
AIRPORT INFRASTRUCTURE THAT NEEDED MODERNIZATION
TO ACCOUNT FOR RISING DEMAND FOR AIR TRAVEL %52/
 FOOTBALL CHAMPIONSHIP GAVE AN IMPULSE TO
DEVELOPMENT OF THE AIRPORTS IN THE MAJOR 0OLISH
CITIES k 7ARSAW AREA GAINED AN AIRPORT IN -ODLIN

)NVESTMENTSARETOBEDIVIDEDINTOTENDERSFOR 
KM SECTIONS WITH FUNDING SPREAD IN TIME TO ALLOW
FORASTABLEDEMANDFORCONSTRUCTIONMATERIALS4HE
INVESTMENTS SEEM TO ATTRACT FOREIGN CONSTRUCTORS

#ITY

0ASSENGERS

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7ARSZAWA/KCIE



.EW 9ORK #HICAGO "EIJING $UBAI )STANBUL "ERLIN

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Infrastructure
WHICHISSUPPOSEDTOSERVICELOW COSTCARRIERS#IT
IESOF7ROCAWD'DASK2ZESZWAND0OZNA
OPENED NEW PASSENGER TERMINALS IN  WHILE
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ISEXPECTEDTONISHTHECONSTRUCTIONIN4HE
ACCELERATIONININFRASTRUCTURALDEVELOPMENTTHATBE
GANRECENTLYISEXPECTEDTOTRANSLATEINTOINCREASED
PASSENGERANDCARGOTRAFCTOANDFROM0OLANDAS
WELLASTOPROMOTEDOMESTICTRAVEL

II.5.1.3 Railway
network in Poland
0OLANDHASADENSERAILWAYNETWORKTHATSERVESBOTH
REGULARCITIZENSANDINDUSTRY)NMOSTCITIESTHEMAIN
RAILWAYSTATIONISLOCATEDNEARTHECITYCENTREANDIS
WELL CONNECTED TO THE LOCAL TRANSPORTATION SYSTEM
0+00OLSKIE,INIE+OLEJOWE0+00OLISH2AILWAY,INES 
APARTOFTHESTATE OWNED0+0'ROUPOPERATESTHE
RAILINFRASTRUCTURE4HEREISANEXTENSIVERAILWAYNET
WORK IN WESTERN AND NORTHERN 0OLAND HOWEVER
EASTERN PARTS OF THE COUNTRY HAVE LESS DEVELOPED
NETWORK )N TOTAL THERE ARE  KM OF RAILWAY
TRACKSIN0OLANDALMOSTOFWHICHAREELECTRI
EDkAVALUECOMPARABLETO.ORWAYOR&RANCE4HE
EXTENTOFRAILWAYCONCENTRATIONVARIESFROMKM
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THE AVERAGE AROUND  KM KM 0+0 0OLISH
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CLUDINGALMOSTBRIDGESANDVIADUCTS

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MANY VITAL TRAIN STATIONS BEING REFURBISHED INCLUD
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7ROCAW AND 0OZNA WITH SPEEDS EXCEEDING 
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CENTRATED ON THE MODERNIZATION OF EXISTING TRACKS
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TAKEPRIORITYINTHENEXTSEVENYEARSINCLUDE

+ATOWICE
2ZESZW

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Passengers annually:

P P P

3OURCE4HE#IVIL!VIATION!UTHORITY

%# % BORDER WITH 'ERMANY 0OZNA

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BETWEEN MAJOR 0OLISH CITIES IS EXPECTED TO ALLOW
SPEEDSBETWEENANDKMH



Infrastructure
0LANNEDNETWORKOFHIGH SPEEDRAILWAYSIN0OLANDIN

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%XISTINGSECTIONSIN
2AILWAYSPLANNED
IN

3OURCE-INISTRYOF)NFRASTRUCTUREAND$EVELOPMENT

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NETANDOFTHEPOPULATIONWEREMOBILEPHONE
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3!WHICHPROVIDESAROUNDOFXEDLINES

II.5.1.4.
Telecommunication systems

4OTALVALUEOFTHETELECOMMUNICATION
MARKETIN0OLAND



























4HE0OLISHTELECOMMUNICATIONINFRASTRUCTUREISSTA
BLE DURING LAST FEW YEARS )NTERNET ACCESS MOBILE
ANDXEDLINESGIVEOVERMARKETSHARE)N
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PHONES PENETRATION    BY COMPARISON
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3OURCE/FCEOF%LECTRONIC#OMMUNICATIONS2EPORTABOUT
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Infrastructure
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MENT OF THE 0OLISH TELECOMMUNICATIONS MARKET )N
THEREVENUESFROMMOBILETELEPHONYACCOUNT
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4HE0OLISHTELECOMMUNICATIONSMARKETISGRADUALLY
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AMOUNTOFSUBSCRIBERS40AND.ETIA
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IMPORTANTMEANOFCONTACTFORLOCALCALLS

II.5.1.5. Density and

connection lease market

-OST HOUSEHOLDS  SAID THEY HAVE A HOME

COMPUTER  OF HOUSEHOLDS WITH A COMPUTER
ALSOHAVEINTERNETACCESSATHOME/FTHESEOF
0OLISHINTERNETUSERSSAIDTHEYUSEINTERNETDAILY4HE
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/RANGEAND0LUS

4HE VALUE OF THE RETAIL CONNECTION LEASE MARKET

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WHICH SINCE  WAS IN RST POSITION IN TERMS OF
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system and density









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II.6.

Labour market

II.6.1. Education

#OMPULSORYFULL TIMEEDUCATION
&ULL TIME COMPULSORY EDUCATION IN 0OLAND LASTS 
YEARS AND COVERS EDUCATION IN THE ALREADY MEN
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ANDTHETHREE YEARSOFLOWERSECONDARYEDUCATION
!DMISSION TO PRIMARY SCHOOL IS BASED ON AGE 0RI
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II.6.1.1. Education system

4HE 0OLISH EDUCATION SYSTEM IS WELL DEVELOPED
ESPECIALLY IN THE CITIES !LTHOUGH THE NUMBER OF
STATE OWNEDSCHOOLSAND5NIVERSITIESISRATHERSTA
BLETHENUMBEROFPRIVATEINSTITUTIONSISGROWINGIN
RESPONSETORECENTMARKETDEMAND

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VIDED INTO TWO SEMESTERS BETWEEN 3EPTEMBER
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0RE SCHOOLEDUCATIONISPARTOFTHEFORMALSYSTEMOF
EDUCATIONIN0OLAND4HEREISAWELL ESTABLISHEDNET
WORKOFSTATEPRE SCHOOLSTHATCHILDRENMAYATTEND
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0UPILS ARE ASSESSED SEPARATELY IN EACH SUBJECT THE

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0UBLICSECTOR



%NERGYANDHEAT



#ULTUREANDART



3OURCE3EDLAK3EDLAK2EPORT





III.
Setting up
business
get to know about the first steps to be taken





III.1.

Incorporation

III.1.1.
Conducting
business activities

,IMITED0ARTNERSHIP,0 
0ARTNERSHIPLIMITEDBYSHARES
,IMITED,IABILITY#OMPANY,,# 
JOINT STOCKCOMPANY0UBLIC,IMITED#OMPANY0,# 
$ESPITETHESELIMITATIONSSUCHBUSINESSENTITIESINCOR
PORATED IN 0OLAND IN ACCORDANCE WITH 0OLISH REGULA
TIONS ARE PERMISSABLE TO CONDUCT BUSINESS WITHOUT
RESTRICTIONBASEDONTHESAMERULESAS0OLISHANDOTHER
%5 COMPANIES )T FOLLOWS THAT THERE ARE NO RESTRIC
TIONS RELATED TO THE SOURCE OF CAPITAL AND CONSE
QUENTLY DURING ITS PERFORMANCE NO ADMINISTRATIVE
PERMITCANBEAPPLIEDFORBYVIRTUEOFTHEMOTHER
COMPANYBEINGTHESOURCEOFCAPITAL

4HEGENERALRULESRELATEDTOCONDUCTINGBUSINESSARE
REGULATEDBYTHE&REEDOMOF%CONOMIC!CTIVITY!CT
DATEDONND*ULY4HE!CTISALSOKNOWNUN
DERTHENAMEOFfBUSINESSCONSTITUTIONgBECAUSETHE
!CTGOVERNSTHEUNDERTAKINGCONDUCTINGANDLEGAL
LIMITATIONOFBUSINESSACTIVITIESIN0OLAND4HE!CTIS
THESOURCEOFVARIOUSTERMSEGENTREPRENEURSHIPOR
ECONOMICACTIVITYTHATREMAINAPPLICABLEINRELATION
TOBUSINESSACTIVITIES4HE!CTALSOCONTAINSALISTOF
SPECICLICENSESTHATHAVETOBEACQUIREDINORDERTO
UNDERTAKECERTAINBUSINESSACTIVITIES

)NSTEAD OF INCORPORATION OF A LEGAL ENTITY A FOREIGN

COMPANYMAYCREATEABRANCHORAREPRESENTATIVEOF
CEIN0OLAND
4HE BRANCH OFCE IS RESTRICTED IN CONDUCTING BUSI
NESSACTIVITYONLYINTHESCOPEOFTHEMOTHERCOM
PANY4HEREGISTRATIONPROCESSISSIMILARTOTHE,,#
BECAUSEITHASTOBEREGISTEREDINTHE%NTREPRENEURSg
2EGISTERMAINTAINEDBYTHECOURTHEREINAFTERREFERRED
ASh+23i 4HEBRANCHOFCEHASITSOWN+23NUMBER

4HERULESOFTHE!CTAREAPPLICABLETONATURALPER
SONS AND LEGAL ENTITIES (OWEVER THE !CT DISTIN
GUISHES BETWEEN THE INVESTORS FROM %5%&4! AND
OTHERTHIRDPARTYCOUNTRIES

&URTHERMORE THE REPRESENTATIVE OFCE MAY ONLY

PERFORM IN THE ELD OF ADVERTISING OR MARKETING
ACTIVITIES FOR THE BENET OF THE MOTHER COMPANY
(OWEVERSUCHENTITIESAREOBLIGEDTOPERFORMALLAC
TIVITIESINACCORDANCEWITH0OLISHLAWINCLUDIN0OLISH
!CCOUNTING 2ULES 2EGISTER OF 2EPRESENTATIVE /F
CESOF&OREIGN#OMPANIESISHELDBYTHE-INISTRY
OF%CONOMYIN7ARSAW4HEREPRESENTATIVEOFCEAND
BRANCHOFCESHALLAPPOINTTHEREPRESENTATIVEACTINGON
THEIRBEHALF

.ATURALPERSONSANDLEGALENTITIESFROMTHE%5%&4!
COUNTRIES IN REGARD TO CONDUCTING BUSINESS IN 0O
LANDFALLUNDERUNDERTHESAMECONDITIONSANDRULES
AS 0OLISH INDIVIDUALS OR COMPANIES 3UCH A FOREIGN
ENTITYMAYCHOOSEANYLEGALFORMFORTHEIRBUSINESS
ACTIVITY IN 0OLAND FREELY WITH THE SAME RESTRICTIONS
ASAREAPPLICABLEFOR0OLISHNATURALSORCOMPANIES
IFANY
5NLESS INTERNATIONAL AGREEMENTS STATE OTHERWISE
ANDALLREQUIREMENTSAREFULLLEDAFOREIGNCOMPA
NYORNATURALPERSONBASEDOUTSIDETHETHE%5%&4!
ZONEMAYCONDUCTBUSINESSONLYINTHEFORMOF

0OLISH REGULATIONS ALLOW DOMESTIC AND FOREIGN EN

TERPRISES TO OPERATE UNDER A WIDE VARIETY OF LEGAL



Incorporation
FORMS"ESIDESTHELIMITEDLIABILITYCOMPANYWHICHIS
PROBABLYTHEMOSTATTRACTIVELEGALVEHICLEFORFOREIGN
INVESTORS TO CONDUCT BUSINESS IN 0OLAND THERE ARE
ANUMBEROFOTHERFORMSOFBUSINESSORGANISATIONS
4HE0OLISH#ODEOF#OMMERCIAL#OMPANIESSETSFORTH
SIXFORMSOFCOMMERCIALASSOCIATIONASFOLLOWS
'ENERALPARTNERSHIP
,IMITED0ARTNERSHIP,0 
,IMITED,IABILITY0ARTNERSHIP,,0 
0ARTNERSHIPLIMITEDBYSHARES
,IMITED,IABILITY#OMPANY,,# 
JOINT STOCKCOMPANY0UBLIC,IMITED#OMPANY0,# 

4HE ,,# MAY BE INCORPORATED BY ONE OR MORE

PERSON ORAND ENTITY (OWEVER THE ,,# CANNOT BE
INCORPORATED BY ANOTHER SINGLE SHAREHOLDER ,,#
GOVERNED BY 0OLISH OR FOREIGN LAW .EVERTHELESS
0OLISHLAWDOESNOTPROHIBITTHEHOLDINGOF
OFSHARESBYANOTHERSINGLE SHAREHOLDER,,#4HERE
FORETHEABOVEMENTIONEDRESTRICTIONCONCERNSONLY
THEREGISTRATIONPROCESSOFTHE,,#
4HEINCORPORATIONOFA,,#ISEXECUTEDBEFORETHE
0OLISH NOTARY AND THE !RTICLES OF !SSOCIATION MUST
BE NOTARIZED 4HE COMPANY MAY ALSO BE INCORPO
RATED BY ATTORNEY IN FACT ACTING UPON PRIOR GIVEN
POWEROFATTORNEY

!PARTFROMTHE0OLISH#ODEOF#OMMERCIAL#OMPA
NIES 0OLISH LAW ALSO PROVIDES OTHER LEGAL FORMS TO
CONDUCT BUSINESS ACTIVITIES "ELOW WE WILL PROVIDE
WITH A SHORT DESCRIPTION AND CHARACTERISTIC OF EACH
OFTHEAFOREMENTIONEDFORMS(OWEVERWEWILLCON
CENTRATE ON THE LIMITED LIABILITY COMPANY WHICH IS
OFTENCHOSENBYFOREIGNINVESTORS

III.1.1.1. Limited Liability

Company
!SMENTIONEDABOVETHE,IMITED,IABILITY#OMPANY
,,# IS THE MOST POPULAR LEGAL VEHICLE FOR FOREIGN
INVESTMENTIN0OLAND
4HE0OLISH,,#REMAINSVERYSIMILARTOTHE'ERMAN
LIMITEDLIABILITYCOMPANYASITSCONCEPTWASINSPIRED
BY 'ERMAN LAW 4HE NAME OF THE ,,# EMPHASISES
THEFACTTHATTHESHAREHOLDERSOFTHEENTITYARENOT
PERSONALLYLIABLEFORTHECOMPANYgSDEBTS4HEMAIN
FEATUREOFTHE,,#ISTOENSURETHATTHECOMPANYIS
TREATED AS THE SEPARATE LEGAL ENTITY FROM ITS SHARE
HOLDERSORSOLESHAREHOLDER
4HESIGNICANTADVANTAGESOFTHE,,#INCOMPARISON
WITH OTHER LEGAL FORMS PROVIDED BY 0OLISH LAW ARE
ASFOLLOWS
RELATIVELYLOWCOSTSOFINCORPORATIONOFTHECOMPANY
THECOMPANYMAYCONDUCTBUSINESSACTIVITIESIM
MEDIATELYAFTERSIGNINGTHE!RTICLESOF!SSOCIATION
FASTREGISTRATIONPROCESSAT+23
LIMITEDLIABILITYANDLOWMINIMALSHARECAPITAL
CLEARANDSIMPLERULESINRELATIONTOTHEDAILYMAN
AGEMENTOFTHECOMPANY
LOWOPERATIONALCOSTS

4HE!RTICLESOF!SSOCIATIONSHOULDSPECIFY
THE BUSINESS NAME OF THE COMPANY INCLUDING
THE ADDITIONAL DESCRIPTION f3PKA Z OGRANICZON
ODPOWIEDZIALNOCIgORITSABBREVIATIONfSPZOOg
THESEATOFTHECOMPANY
THESCOPEOFTHEBUSINESSACTIVITY
THEAMOUNTOFSHARECAPITAL
INFORMATIONONTHENUMBEROFSHARESALONGWITH
THEIRVALUEOWNEDBYEACHSHAREHOLDER
WHETHER THE COMPANY HAS BEEN INCORPORATED FOR
LIMITEDPERIODOFTIME
4HE #ODE OF #OMMERCIAL #OMPANIES OUTLINES THE
MINIMUMCONTENTOFTHE!RTICLESOF!SSOCIATIONBUT
ITISQUITECOMMONTOHAVEAWIDERANGEOFADDI
TIONALRULESWHICHMAKETHISLEGALFORMVERYEXIBLE
5NDER 0OLISH LAW THE ,,# MUST HAVE A MINIMUM
SHARE CAPITAL OF  0,. WITH THE MINIMUM
NOMINALVALUEOF0,.PEREACHSHARE#ONTRI
BUTIONSMAYBEMADEINCASHORINKIND4HECON
TRIBUTIONINKINDREMAINSATTHEFREEDISPOSALOFTHE
MANAGEMENTBOARD
#ORPORATEBODIESOFALIMITEDLIABILITYCOMPANY
4HE LIMITED LIABILITY COMPANY MAY HAVE THREE GOV
ERNINGBODIESTHEMANAGEMENTBOARDTHEGENERAL
MEETING OF THE SHAREHOLDERS AND THE SUPERVISORY
BOARD 4HE LATTER IS REQUIRED ONLY IF THE COMPANY
HASMORETHANSHAREHOLDERSANDIFITSSHARECAPI
TAL EXCEEDS  0,. 4HE 0OLISH CORPORATE
GOVERNANCE SYSTEM IS BASICALLY A TWO TIER SYSTEM
WITHSEPARATIONOFTHEMANAGEMENTANDOVERSIGHT
FUNCTIONS CARRIED OUT BY THE SUPERVISORY BOARD IS
PRESCRIBEDBYLAW
4HE-ANAGEMENT"OARDISABODYWHICHDEALSWITH
THEAFFAIRSOFTHECOMPANYANDREPRESENTSTHECOM



Incorporation
PANY BEFORE THE THIRD PARTIES 4HE DUTIES AND PRE
ROGATIVES OF THE -ANAGEMENT "OARD DIFFER SIGNI
CANTLYFROMTHEDUTIESANDPREROGATIVESOFTHE"OARD
OF $IRECTORS WHICH IS TYPICAL FOR THE COMMON LAW
SATES4HE-ANAGEMENT"OARDMAYCONSISTOFONE
ORMOREMEMBERSNODIFFERENCEWHETHER0OLESOR
FOREIGNERS THATCANBEAPPOINTEDFROMTHESHARE
HOLDERS OR FROM THIRD PERSONS 5NLESS THE !RTICLES
OF!SSOCIATIONSTIPULATEOTHERWISEMEMBERSOFTHE
-ANAGEMENT "OARD ARE APPOINTED AND DISMISSED
BY THE RESOLUTION OF THE 'ENERAL -EETING OF THE
3HAREHOLDERS

THE ECONOMIC INTERESTS OF THE COMPANYgS BUSINESS

PARTNERSANDOFPUBLICINSTITUTIONSEGTAXAUTHORI
TIES 0OLISHLAWSTATESTHATINCERTAINCIRCUMSTANCES
MEMBERSOFTHE-ANAGEMENT"OARDMAYBELIABLE
FORTHEDEBTSOFTHECOMPANY

III.1.1.2.
Joint-stock Company / Public
Limited Company (PLC)

4HESTATUTORYDUTYOFTHE3UPERVISORY"OARDISTOEXER
CISEPERMANENTCONTROLOVERALLAREASOFTHECOMPANYgS
ACTIVITIES HOWEVER AS STATED HEREINABOVE THERE IS
NO OBLIGATION TO APPOINT THE 3UPERVISORY "OARD 4HE
-ANAGEMENT"OARDISNOTBOUNDBYTHEINSTRUCTIONS
GIVENBYTHE3UPERVISORY"OARD4HE3UPERVISORY"OARD
CONSISTS OF AT LEAST THREE MEMBERS APPOINTED BY THE
RESOLUTION OF THE 'ENERAL -EETINGOF THE 3HAREHOLD
ERS4HEFOREIGNINVESTORSUSUALLYDONOTAPPOINTTHE
3UPERVISORY"OARDINTHEIR0OLISHSUBSIDIARIES

!JOINT STOCKCOMPANYPUBLICLIMITEDCOMPANYIS
VERY SIMILAR TO A LIMITED LIABILITY COMPANY WITH RE
GARDTOTHELIABILITYOFSHAREHOLDERSGOVERNINGBODY
ANDTAXATION(OWEVERTHEPROVISIONSSTIPULATEDBY
THE#ODEOF#OMMERCIAL#OMPANIESINRELATIONTO
THE0,#ARERELATIVELYMOREFORMALISTICANDPROVIDE
ADDITIONALOBLIGATIONSWHICHMUSTBEFULLLEDBYTHE
BODIESOFTHECOMPANY4HISHASADIRECTIMPACTON
THECOSTOFINCORPORATIONANDRUNNINGTHE#OMPA
NY)NFACTTHISLEGALFORMISUSEDFORBUSINESSPLAN
NING)0/SEARCHINGFOR0%6#INVESTORSORWHENTHIS
FORMISREQUIREDBY0OLISHLAWEGBANKSPENSION
FUNDSANDOTHERNANCIALINSTITUTIONS 

4HETHIRDBODYk4HE'ENERAL-EETINGOFTHE3HARE
HOLDERSCONSISTSOFTHESHAREHOLDERS4HE#ODEOF
#OMMERCIAL#OMPANIESDISTINGUISHESBETWEENTHE
f/RDINARYg AND f%XTRAORDINARYg 'ENERAL -EETINGS
4HE /RDINARY 'ENERAL -EETING OF THE 3HAREHOLD
ERS IS HELD WITHIN SIX MONTHS OF THE END OF EACH
NANCIALYEAR0OLISHLAWSTIPULATESPRECISELYWHICH
ISSUESSHOULDBEPUTONTHEAGENDAEGCONSIDERA
TION AND APPROVAL OF THE MANAGEMENT REPORT AND
NANCIAL REPORT  4HE %XTRAORDINARY 'ENERAL -EET
INGISCALLEDINCASESSTIPULATEDINTHE#ODEOF#OM
MERCIAL#OMPANIESORINTHE!RTICLESOF!SSOCIATION
4HE %XTRAORDINARY 'ENERAL -EETING MIGHT BE ALSO
CALLED INCASE ANY AUTHORISED PERSON OR BODY NDS
ITNECESSARY4HESHAREHOLDERMAYBEPRESENTATTHE
MEETINGEITHERINPERSONORBYREPRESENTATIVESWITH
THEPOWEROFATTORNEYGRANTEDINWRITING

3IMILARLYTO,,#0,#ISTREATEDASASEPARATELEGAL
ENTITYFROMITSSTOCKHOLDERSORSOLESTOCKHOLDER4HE
0,# CAN BE INCORPORATED BY ONE OR MORE PERSON
ENTITY(OWEVERTHE0,#CANNOTBEINCORPORATEDBY
ANOTHERSINGLE SHAREHOLDERLIMITEDLIABILITYCOMPANY
GOVERNED BY 0OLISH OR FOREIGN LAW 4HE RESTRICTION
CONCERNSONLYTHEREGISTRATIONPROCESS4HESTATUTEOF
THE0,#SHOULDBESIGNEDBEFORETHE0OLISHNOTARY
.ONETHELESSTHECOMPANYMAYBEINCORPORATEDBY
ATTORNEYINFACTUPONTHEPOWEROFATTORNEYGRANT
ED TO HIM 4HE COMPANY COMES INTO EXISTENCE ON
THEIMPLEMENTATIONOFTHESTATUTE/NLYREGISTRATION
INTHE%NTREPRENEURSg2EGISTERPROVIDESTHE0,#WITH
ITSFULLLEGALSTATUS

,IABILITYINALIMITEDLIABILITYCOMPANY
4HESTATUTESHOULDSPECIFY
4HE SHAREHOLDERS OF A ,,# ARE NOT LIABLE FOR THE
COMPANYgS DEBTS OR OBLIGATIONS )NSTEAD SHARE
HOLDERS CAN ONLY LOSE THEIR INVESTMENT MONETARY
CONTRIBUTION OR IN KIND CONTRIBUTION INVESTED TO
TAKEUPTHESHARESINTHESHARECAPITALOFTHECOM
PANY 0OLISHLAWSTATESTHATOTHERPERSONSMAYBE
LIABLEFORACOMPANYgSOBLIGATIONS)NREGARDTOTHE
COMPANYBEINGINORGANISATIONPROCESSTHELIABILITY
FORTHECOMPANYgSOBLIGATIONISBORNJOINTLYBYTHE
COMPANYANDPEOPLEACTINGONITSBEHALF4OPROTECT

THEBUSINESSNAMEOFTHECOMPANYINCLUDINGTHE
ADDITIONAL DESCRIPTION fSPKA AKCYJNAg OR ITS AB
BREVIATIONf3!g
THESEATOFTHECOMPANY
THESCOPEOFITSBUSINESSACTIVITY
WHETHERTHECOMPANYHASBEENINCORPORATEDFOR
ALIMITEDPERIODOFTIME



Incorporation
 THE AMOUNT OF THE COMPANYgS SHARE CAPITAL AND
THEAMOUNTPAIDUPTOCOVERTHESHARECAPITALBE
FOREITSREGISTRATION
THENOMINALVALUEOFTHESHARESANDTHEIRNUMBER
WITHANINDICATIONOFWHETHERTHEYAREREGISTERED
ORBEARERSHARES
WHETHERVARIOUSTYPESOFSHARESAREPROVIDEDAND
IFSOTHENUMBEROFSHARESOFASPECICTYPEAND
THEIRRELATEDRIGHTS
THEFOUNDERgSNAME
THE NUMBER OF MEMBERS OF THE -ANAGEMENT
"OARD AND 3UPERVISORY "OARD AT LEAST THE MINI
MUMANDMAXIMUMNUMBEROFMEMBERSOFTHESE
BODIESWITHINFORMATIONCONCERNINGTHEENTITYAU
THORISEDTODENETHEMEMBERSHIP 
THEGAZETTESELECTEDFORPUBLICATIONOFTHECOMPA
NYANNOUNCEMENTIFTHECOMPANYINTENDSTOPUB
LISHANNOUNCEMENTSINADDITIONTOTHOSEPUBLISHED
IN #OURT AND "USINESS 'AZETTE -ONITOR 3DOWY
I'OSPODARCZY 
5NDER0OLISHLAWTHEJOINT STOCKCOMPANYMUSTHAVE
AMINIMUMSHARECAPITALOF0,.ANDTHE
MINIMUMNOMINALVALUEOFTHESTOCKMUSTBE0,.
#ONTRIBUTIONSMAYBEMADEINCASHORINKINDAND
THECONTRIBUTIONINKINDMUSTBEATTHEDISPOSALOF
THE-ANAGEMENT"OARD
#ORPORATEBODIESOFAJOINT STOCKCOMPANY0,#
4HE 0,# COMPANY HAS THREE GOVERNING BODIES THE
-ANAGEMENT "OARD THE 'ENERAL !SSEMBLY AND THE
3UPERVISORY"OARDWHICHISSTATUTORY4HEFEATURESDU
TIESANDOBLIGATIONOFTHE3UPERVISORY"OARDAND-AN
AGEMENT"OARDAREALMOSTTHESAMEASINCASEOFA,,#

4HE 'ENERAL !SSEMBLY IS A BODY CREATED BY STOCK

HOLDERS WHO MAY EXERCISE THE RIGHTS STIPULATED IN
THE#ODEOF#OMMERCIAL#OMPANIESANDTHESTATUTE
!N!NNUAL'ENERAL!SSEMBLYMUSTBECALLEDWITHIN
SIXMONTHSOFTHECOMPANYgSNANCIALYEARANDTHE
ITEMSONTHEAGENDAARESTIPULATEDBYLAW
,IABILITYINAJOINT STOCKCOMPANY0,#
*USTASINTHECASEOFTHE,,#THESTOCKHOLDERSOFTHE
0,# ARE NOT LIABLE FOR ANY DEBTS AND ANY OBLIGATIONS
OFTHECOMPANYAND0OLISHLAWDOESNOTPROVIDEANY
EXEMPTIONS FROM THIS PRINCIPLE 4HE STOCKHOLDERS CAN
ONLYLOSETHEIRINVESTMENTEGMONETARYCONTRIBUTION
ORIN KINDCONTRIBUTIONINVESTEDTOTAKEUPTHESHARES
IN THE SHARE CAPITAL OF THE COMPANY  4O PROTECT THE
ECONOMICINTERESTSOFTHECOMPANYgSBUSINESSPARTNERS
AND OF PUBLIC INSTITUTIONS EG TAX AUTHORITIES  0OLISH



LAW STATES THAT IN CERTAIN CIRCUMSTANCES MEMBERS OF

THEMANAGEMENTBOARDMAYBELIABLEFORTHEDEBTSOF
THECOMPANY

III.1.2. Other
corporate entities
III.1.2.1. Civil Partnership
! CIVIL PARTNERSHIP GOVERNED BY THE #IVIL #ODE IS
USED FOR SMALL BUSINESSES ! CIVIL PARTNERSHIP DOES
NOTHAVEANYLEGALPERSONALITYANDISCONSIDEREDBY
0OLISHLAWASACIVILAGREEMENTBETWEENATLEASTTWO
INDIVIDUALSORLEGALENTITIES4HEPARTNERSOFTHECIVIL
PARTNERSHIP ARE JOINTLY AND SEPARATELY LIABLE FOR ANY
DEBTS INCURRED IN THE PARTNERSHIP 4HE PARTNERS ARE
REGISTEREDINTHE"USINESS!CTIVITY2EGISTER4HEPROF
ITS OF THE CIVIL PARTNERSHIP ARE TAXED WITH PERSONAL
INCOMETAXDUETOTHEFACTTHATCIVILPARTNERSHIPSARE
PERCEIVED AS TRANSPARENT FOR TAX PURPOSES BY 0OLISH
TAXLAW&OREIGNINVESTORSRARELYCHOOSETHISLEGALVE
HICLEFORTHEIRINVESTMENTSIN0OLAND

III.1.2.2. General Partnership

!'ENERALPARTNERSHIPISANASSOCIATIONOFATLEAST
TWOPARTNERSOPERATINGANENTERPRISEUNDERITSOWN
BUSINESS NAME 4HE 'ENERAL PARTNERSHIP IS GOV
ERNEDBYTHE#ODEOF#OMMERCIAL#OMPANIES4HE
COMPANYISREGISTEREDINTHE%NTREPRENEURSg2EGIS
TER+23 4HE'ENERALPARTNERSHIPISNOTASEPARATE
ENTITYITISALEGALORGANISATIONWITHTHECAPACITYTO
ACQUIRE RIGHTS INCUR DEBTS SUE AND BE SUED 4HE
RIGHTS AND OBLIGATIONS OF THE PARTNERS ARE STIPU
LATED IN THE PARTNERSHIP AGREEMENT %ACH PARTNER
HASUNLIMITEDLIABILITYFORTHEDEBTSOFTHE'ENERAL
PARTNERSHIPWHEREEXECUTIONFROMTHEASSETSOFTHE
PARTNERSHIPPROVESINEFFECTIVESUBSIDIARYLIABILITYOF
THEPARTNER 

Incorporation
STOCKCOMPANY4HISFORMOFACTIVITYISRELATIVELYUN
COMMONHOWEVERITISUSEDINATYPICALINVESTMENTS
CONDUCTEDBY0%6#INVESTORS4HEBUSINESSNAME
OFAJOINT STOCKCOMPANYSHOULDINCLUDETHENAMES
OFONEORMOREGENERALPARTNERSANDTHEADDITIONAL
DESCRIPTION fSPKA KOMANDTOWO AKCYJNAg )F THE
STOCKHOLDERSgNAMEISINCLUDEDINTHEPARTNERSHIPgS
NAMETHESTOCKHOLDERHASUNLIMITEDLIABILITYFORANY
OBLIGATION OF THE PARTNERSHIP 4HE MINIMAL SHARE
CAPITAL IS 0,.  AND THE STATUTE MUST BE
SIGNEDINFRONTOFTHE0OLISHNOTARY4HEPARTNERSHIP
COMES INTO EXISTENCE UPON THE REGISTRATION IN THE
%NTREPRENEURSg2EGISTER

III.1.2.3. Limited Partnership

)NTHE'ENERALPARTNERSHIPALLPARTNERSAREFULLYLIABLE
FORTHEPARTNERSHIPgSDEBTSWHEREASINTHECASEOF
THE ,IMITED 0ARTNERSHIP THERE ARE GENERAL PARTNERS
WITHUNLIMITEDLIABILITYANDLIMITEDPARTNERSWHOSE
LIABILITY IS RESTRICTED TO THEIR XED PARTNERSHIP CON
TRIBUTIONS4HENAMEOFTHEGENERALPARTNERSHOULD
BEREVEALEDINTHEPARTNERSHIPgSNAME/NTHEOTHER
HANDIFTHEBUSINESSNAMEOFTHE,IMITED0ARTNER
SHIPINCLUDESTHENAMEOFALIMITEDPARTNERINTHE
PARTNERSHIPgS BUSINESS NAME THE LIMITED PARTNER
BEARSANUNLIMITEDLIABILITYASIFHEWERETHEGENERAL
PARTNER!LTHOUGHAPARTNERSHIPITSELFISNOTALEGAL
ENTITYITMAYACQUIRERIGHTSANDINCURLIABILITIESAC
QUIRETITLETOREALESTATEANDSUEORBESUED

III.1.2.6. Sole Proprietorship

4HEMIXEDCONSTRUCTOFTHE,IMITED0ARTNERSHIPWITH
A,,#ASASOLEGENERALPARTNERISUSEDQUITEOFTEN
BYFOREIGNINVESTORSINORDERTOLIMITLIABILITYANDTO
ACHIEVETHEOPTIMALTAXATIONMODEL

4HESIMPLESTFORMOFDOINGSMALLBUSINESSIN0OLAND
ISTHELEGALFORMKNOWNASSOLEPROPRIETORSHIP4HE
PROPRIETORSHIP IS CREATED UPON THE REGISTRATION IN
THE "USINESS !CTIVITY 2EGISTER HELD BY THE HEAD OF
THE MUNICIPALITY 4HE OWNER HAS UNLIMITED LIABILITY
FOR ANY DEBTS CONNECTED WITH THE SOLE PROPRIETOR
SHIP 4HIS LEGAL FORM IS USED BY FOREIGN MANAGERS
ANDDIRECTORSASAPLATFORMTORENDERTHEIRSERVICES
FOR0OLISHCOMPANIES

III.1.2.4. Limited Liability

Partnership
! ,IMITED ,IABILITY 0ARTNERSHIP IS A PARTNERSHIP IN
CORPORATED BY PROFESSIONALS SUCH AS LAWYERS TAX
ADVISORS OR DOCTORS  FOR THE PURPOSE OF RENDERING
PROFESSIONAL SERVICES ! PARTNER OF THE ,IMITED ,I
ABILITY0ARTNERSHIPMAYONLYBEAPERSONAUTHORISED
TOCONDUCTTHEPROFESSION4HEMAINFEATUREOFTHE
,IMITED,IABILITY0ARTNERSHIPISTHATAPARTNERISNOTLI
ABLEFORTHEOBLIGATIONOFTHEPARTNERSHIPINCURREDIN
CONNECTIONWITHTHEPROFESSIONALACTIVITIESOFOTHER
PARTNERS

III.1.2.7. Branch office

&OREIGNINVESTORSMAYESTABLISHBRANCHESIN0OLAND
TOCONDUCTTHESAMEBUSINESSASTHEFOREIGNINVES
TOR&ROMALEGALPOINTOFVIEWTHEBRANCHISPARTOF
THE FOREIGN ENTERPRISE AND DOES NOT HAVE ITS OWN
LEGALIDENTITY4HEBRANCHISREGISTEREDINTHE%NTRE
PRENEURSg2EGISTERANDMAYCONDUCTBUSINESSUPON
ITSREGISTRATION

III.1.2.5. Partnership
Limited by Shares

III.1.2.8. Representative office

&OREIGNINVESTORSAREALSOALLOWEDTOESTABLISHREP
RESENTATIVEOFCESWHICHINTHEIRSIMPLESTFORMONLY
REGARDTHEINVOLVEMENTOFINTERNATIONALBUSINESSIN
0OLAND$ESPITETHISTHEREPRESENTATIVEOFCESMAY
NOT CONDUCT BUSINESS ACTIVITIES IN 0OLAND AND CAN
ONLY CARRY OUT ACTIVITIES REGARDING THE ADVERTISING
ANDPROMOTIONOFAFOREIGNINVESTOR

! 0ARTNERSHIP LIMITED BY SHARES HAS TWO TYPES OF

PARTICIPATORS )T HAS AT LEAST ONE PARTNER WITH UN
LIMITED LIABILITY GENERAL PARTNER AND AT LEAST ONE
PARTNERTHATISASTOCKHOLDER4HE0ARTNERSHIPLIMITED
BYSHARESISAMIXTUREOFAPARTNERSHIPANDAJOINT



Incorporation
VELOP THE ECONOMIC INTERESTS AND ACTIVITIES OF ITS
MEMBERS

III.1.2.9. European Company

/N /CTOBER TH  THE COUNCIL REGULATION %#
.O  ON THE 3TATUTE FOR THE %UROPEAN
#OMPANY 3% ENTERED INTO FORCE 4HE %UROPEAN
#OMPANY IS REGULATED BY THE %UROPEAN %CONOMIC
)NTEREST'ROUPINGANDTHE%UROPEAN#OMPANY!CT
DATED ON -ARCH TH  ! %UROPEAN #OMPANY
MAYBEFORMEDINONEOFFOURWAYSTHEMERGEROF
AT LEAST TWO JOINT STOCK COMPANIES THE FORMATION
OFAHOLDINGCOMPANYTHEFORMATIONOFAJOINTSUB
SIDIARYORTHECONVERSIONOFAJOINT STOCKCOMPANY
UNDER THE ADDITIONAL CONDITIONS PRESCRIBED BY LAW
4HE3%MUSTHAVEAMINIMUMSUBSCRIBEDCAPITALOF
 %52 -ONETARY CONTRIBUTIONS AND IN
KINDCONTRIBUTIONSAREPERMISSIBLE)NCASEOFACASH
CONTRIBUTION AT LEAST ONE QUARTER OF THE NOMINAL
VALUE SHOULD BE COVERED BEFORE THE REGISTRATION
3HARESSUBSCRIBEDFORIN KINDCONTRIBUTIONSMUSTBE
COVEREDINFULLNOLATERTHANONEYEARAFTERTHEDATE
OFTHECOMPANYgSREGISTRATION
4HE3TATUTESOFTHE3%MUSTCONSTITUTEASGOVERNING
BODIESTHETHE'ENERAL-EETINGOFTHE3HAREHOLDERS
ANDEITHERA-ANAGEMENT"OARDANDA3UPERVISORY
"OARDKNOWNASTWO TIERSYSTEM ORANADMINISTRA
TIVE BOARD KNOWN AS ONE TIER SYSTEM  5NDER THE
TWO TIER SYSTEM THE 3% IS MANAGED BY THE -AN
AGEMENT "OARD 4HE MEMBER OR MEMBERS OF THE
-ANAGEMENT "OARD ARE EMPOWERED TO REPRESENT
THECOMPANY4HEYAREAPPOINTEDANDDISMISSEDBY
THE3UPERVISORY"OARD.OPERSONMAYBEAMEMBER
OF BOTH THE -ANAGEMENT "OARD AND THE 3UPERVI
SORY"OARDOFTHESAMECOMPANYATTHESAMETIME
5NDER THE ONE TIER SYSTEM THE 3% IS MANAGED BY
ANADMINISTRATIVEBOARD4HEMEMBERORMEMBERS
OFTHEADMINISTRATIVEBOARDHAVETHEPOWERTOREP
RESENT THE COMPANY 5NDER THE SINGLE TIER SYSTEM
THEADMINISTRATIVEBOARDMAYDELEGATETHEPOWEROF
MANAGEMENTTOONEORMOREOFITSMEMBERS

III.1.3.
Establishing and
registering an entity
4HERSTSTEPININCORPORATIONANENTITYISTOCHOOSE
THE APPROPRIATE LEGAL FORM 4HIS HAS A SIGNICANT
EFFECTONTHEFURTHERPROCEEDINGS4HE,,#OR0,#
ARE PROBABLY THE MOST ATTRACTIVE LEGAL VEHICLES FOR
FOREIGN INVESTORS CONDUCTING BUSINESS IN 0OLAND
4HEREFORETHEFOLLOWINGEXPLANATIONSWILLFOCUSON
THEHEREINABOVE4HEFORMATIONOF,,#AND0,#IS
EXECUTEDBEFORETHE0OLISHNOTARYANDTHE!RTICLES
OF !SSOCIATION MUST BE NOTARIZED )N EFFECT THE
COMPANYASANENTITYISINCORPORATED4HECOMPANY
INANORGANIZATIONBEFORETHEDOCUMENTSARESUB
MITTEDTOTHE#OURT MAYINITSOWNNAMEACQUIRE
RIGHTSINCLUDINGOWNERSHIPOFIMMOVABLEPROPERTY
AND OTHER RIGHTS IN REMIT INCUR OBLIGATIONS SUE
ANDBESUED4HECOMPANYMUSTALSOCHOOSETHEIR
BUSINESSADDRESS)NTHEREGISTRATIONPROCESSTHEAD
DRESSISCONRMEDBYTHELEASEAGREEMENTORTHETI
TLEOFOWNERSHIPOFTHEREALESTATE4HEINITIALCAPITAL
OFTHECOMPANYMUSTBEPAIDINFULLBYTHE,,#AND
ATLEASTINBYTHE0,#BEFORETHEMOMENTOF
SUBMITTINGTHEDOCUMENTSTOTHE#OURT!LLCOMPA
NIESIN0OLANDAREREQUIREDTOOPENABANKACCOUNT
4HEDOCUMENTSREQUIREDFORTHEOPENINGOFANAC
COUNTMAYBEDIFFERENTATEVERYBANKEGARTICLES
OFASSOCIATIONSTATUTEANDTHESPECIMENSIGNATURES
OFTHOSEAUTHORIZEDTOREPRESENTTHECOMPANY )TIS
ALSOPOSSIBLETOOPENANACCOUNTFORTHECOMPANY
IN THE ORGANIZATION 4HE NEXT STEP IS TO SUBMIT AN
APPLICATIONTOTHE.ATIONAL#OURT2EGISTER+23 

III.1.2.10. European
Economic Interest Grouping

!PARTFROMANAPPLICATIONFORM+23 7 THEFOL
LOWINGATTACHMENTSAREREQUIREDUPONREGISTRATION
OF,,#

!PART FROM THE %UROPEAN #OMPANY 0OLISH LAW

PROVIDES A SECOND SUPRANATIONAL FORM OF BUSINESS
ORGANISATION KNOWN AS THE f%UROPEAN %CONOMIC
)NTEREST'ROUPINGg4HEMAINFEATUREOFTHE%%)'IS
THAT ITS PURPOSE IS NOT TO MAKE PROTS BUT TO DE

ARTICLESOFASSOCIATION
DOCUMENTS APPOINTING THE COMPANYgS GOVERNING
BODYTHE-ANAGEMENT"OARD 
A STATEMENT FROM ALL MEMBERS OF THE -ANAGE
MENT"OARDTHATTHECONTRIBUTIONSTOWARDSINITIAL
CAPITAL HAVE BEEN MADE BY THE SHAREHOLDERS IN
FULL



Incorporation
SPECIMENSIGNATURESOFALLMEMBERSOFTHE-AN
AGEMENT"OARDCERTIEDBYA NOTARYORMADEIN
PERSONTHROUGHTHEIRPRESENCEIN#OURT
ALISTOFTHESHAREHOLDERSTHENUMBERANDNOMI
NALVALUEOFSHARESHELD
4HEFOLLOWINGATTACHMENTSTOTHEAPPLICATIONFORM
+23 7 AREREQUIREDUPONREGISTRATIONOFTHE0,#
ACOMPANYgSSTATUTE
NOTARYDEEDSONINCORPORATIONOFACOMPANYAND
ONTHESUBSCRIPTIONOFSTOCKS
DOCUMENTS APPOINTING THE COMPANYgS GOVERNING
BODIESTHE-ANAGEMENT"OARDANDTHE3UPERVI
SORY"OARD 
SPECIMENSIGNATURESOFALLTHEMEMBERSOF-AN
AGEMENT"OARDCERTIEDBYA NOTARYORMADEIN
PERSONTHROUGHTHEIRPRESENCEIN#OURT
A STATEMENT FROM ALL MEMBERS OF THE -ANAGE
MENT "OARD THAT THE STOCK PAYMENTS AND CON
TRIBUTIONS IN KIND ENVISAGED BY THE CHARTER HAVE
BEENEFFECTEDLAWFULLY
ACONRMATIONFORTHESTOCKPAYMENTSFROMBANK
ORANINVESTMENTCOMPANY



4HE COURT FEE FOR THE REGISTRATION IS  AND

0,.FORTHEPUBLICATIONIN-ONITOR3DOWY
I'OSPODARCZY
!SOF$ECEMBERCHANGESTOTHE!CTON.A
TIONAL2EGISTER#OURTHAVEBEENINTRODUCEDAIMING
ATSPEEDINGUPTHEREGISTRATIONPROCEDUREOFANEW
COMPANY 2%'/. IDENTICATION NUMBER ASSIGNED
BY THE #ENTRAL 3TATISTICAL /FCE 'WNY 5RZD
3TATYSTYCZNY AS WELL AS 4AX )DENTICATION .UMBER
ASSIGNED BY THE 4AX /FCE ARE NOW ASSIGNED AU
TOMATICALLYAFTERANENTRYOFANEWCOMPANYTOTHE
.ATIONAL2EGISTER#OURTISMADE2ELEVANTDATAOFA
NEW COMPANY IS ALSO AUTOMATICALLY TRANSFERRED TO
THE.ATIONAL)NSURANCE4HISSOLUTIONSHOULDSIGNI
CANTLYREDUCETHETIMEOFTHEREGISTRATIONPROCEDURE
!DDITIONALLYNOWWHILEINCORPORATINGANEWCOM
PANY OR INTRODUCING CHANGES TO THE SCOPE OF THE
COMPANYgSACTIVITYONLYITEMSOFTHESCOPEOFA
COMPANYgSBUSINESSACTIVITYACCORDINGTOTHE0OLISH
#LASSICATIONOF!CTIVITIESINCLUDINGONEPREVAILING
ACTIVITYMAYBEINDICATEDINTHEREGISTRATIONPROCE
DURE$ESPITETHEABOVECHANGETHE!RTICLESOF!S
SOCIATIONCANSTILLINCLUDEANYNUMBEROFITEMSOFA
COMPANYgSSCOPEOFBUSINESSACTIVITY



III.2.

Taxes

III.2.1.
General overview
4HE TAX SYSTEM APPLICABLE IN 0OLAND IS BASED ON
THREEPILLARS
THE#ONSTITUTIONOFTHE2EPUBLICOF0OLAND
INTERNALTAXREGULATIONS
%5TAXREGULATIONSREGARDING!RTOFTHE4REATY
ESTABLISHINGTHE%UROPEAN#OMMUNITY
4HE #ONSTITUTION OF THE 2EPUBLIC OF 0OLAND IS THE
MOST IMPORTANT LEGAL DOCUMENT IN THE 0OLISH TAX
SYSTEMBECAUSEITREGULATESALLPRINCIPLESTOCREATE
AN APPLICABLE LAW SYSTEM IN 0OLAND INCLUDING THE
TAXSYSTEM!CCORDINGTOTHE#ONSTITUTIONTHEFOL
LOWINGSUBJECTSCANBEESTABLISHEDINLAW
4HELEVYINGOF
TAXES
OTHERPUBLICFEES

4HEDENITIONOF
ENTITIESANDSUBJECTSOFTAXATION
TAXRATES
EXEMPTIONTAXRELIEFANDREMISSIONINTAXES
CATEGORIESOFSUBJECTSEXEMPTEDFROMTAX
4HE #ONSTITUTION INCLUDES THE RULE THAT ITS REGULA
TIONS SHOULD BE APPLIED DIRECTLY UNLESS ITS OTHER
REGULATIONSSAYSOTHERWISE4HISMEANSANINTERPRE
TATIONOFTAXREGULATIONSSHOULDALWAYSCONFORMTO
THE#ONSTITUTION)FTHEREISAREGULATIONINTAXLAW
THATISINCONSISTENTWITHACERTAINREGULATIONOFTHE
#ONSTITUTIONTHE#ONSTITUTIONSHOULDBEAPPLIED



4HE0OLISHTAXSYSTEMCONSISTSOFTHE4AX#ODEAND
THE!CTSREGULATINGPARTICULARTYPESOFTAXES'ENER
ALLY THE TAXES IN 0OLAND MAY BE DIVIDED ON DIRECT
AND INDIRECT )N MECHANISM OF DIRECT TAXATION THE
TAXPAYERBEARSTHECOSTOFTHETAX)NTHISGROUPIN
0OLANDTHEREAREBELOWTAXESINCOME0)4AND#)4 
INHERITANCE AND ENDOWMENT ON CIVIL LAW TRANSAC
TIONS REAL ESTATE AGRICULTURAL FOREST MEANS OF
TRANSPORT4HESECONDGROUPAREINDIRECTTAXES)N
INDIRECTTAXATIONMECHANISMTHETAXISPAIDDURING
THEPURCHASEOFTHEGOODORSERVICE4HESEARE6!4
k4AXON'OODSAND3ERVICES%XCISE$UTY
4HE 4AX #ODE SPECIES THE GENERAL DENITIONS
RIGHTS AND OBLIGATIONS OF THE TAXPAYERS AS WELL AS
THETAXAUTHORITIESANDTHETAXPROCEDURES
3INCE-AYSTkTHEDATEOF0OLANDENTERING
TO THE %UROPEAN #OMMUNITY 0OLISH LEGISLATORS ARE
OBLIGEDTOHARMONISETHEINTERNALTAXSYSTEMSWITH
%5 REGULATIONS ! SPECIAL ACCENT HAS BEEN PUT ON
HARMONISATION OF THE 6ALUE !DDED 4AX AND %XCISE
4AX!SACONSEQUENCEINCASESOFTHELACKOFTHEIM
PLEMENTATIONOFTHE%5REGULATIONTOINTERNAL6!4
AND %XCISE REGULATIONS OR DISCREPANCIES BETWEEN
THE6!4AND%XCISETAXATIONONTHE%5ANDINTERNAL
LEVELTHETAXPAYERSHALLHAVETHERIGHTTOUSETHE%5
REGULATIONSDIRECTLYANDSHALLNOTBEBURDENEDWITH
THENEGATIVECONSEQUENCESOFSUCHACTION
4HE0OLISHTAXAUTHORITIESCONSISTOFINACCORDANCE
WITHTHEIRRANK 
THE-INISTEROF&INANCE
TAXCHAMBERSANDCUSTOMSCHAMBERS
TAXOFCESANDCUSTOMSHOUSES

Taxes

III.2.2. Taxation of
company

COUNTRY GENERATING THOSE PROTS 4AXPAYERS THAT

DONgTHAVETHEIRPLACEOFRESIDENCEORBOARDOFDI
RECTORSIN0OLANDNONRESIDENTS ARELIABLETOATAX
OBLIGATIONONLYFORPROTSGENERATEDIN0OLAND
4AXATIONOFPARTNERSHIPS

III.2.2.1. Income tax

)NCOMETAXISGOVERNEDINTHE#ORPORATE)NCOME4AX
!CTHEREINAFTERREFERREDTOASf#)4gANDTHE0ERSON
AL )NCOME 4AX !CT HEREINAFTER REFERRED TO AS f0)4f
! REGULATION TYPE THAT SHOULD BE USED IN A CASE
DEPENDS ON THE LEGAL FORM OF AN ENTITY )N CONSE
QUENCEEITHERTHEINCOMEOFTHEENTITYASAWHOLE
WILLBETAXEDIE#)4FORMALIMITEDCOMPANYAND
JOINT STOCK COMPANY OR THE INCOMES OF PARTICULAR
SHAREHOLDERSIELIMITEDPARTNERSHIPORREGISTERED
PARTNERSHIP )NTHESECONDCASEMENTIONEDABOVE
IE COMPANIES IN THE 0OLISH LEGAL SYSTEM NAMED
ASPARTNERSHIPS INORDERTOESTABLISHIFTHETAXATION
WILLBEINACCORDANCEWITH0)4OR#)4!CTTHELEGAL
STATUSOFTHESHAREHOLDEROFTHEPARTNERSHIPMUST
BECONSIDERED)FTHEPARTNERISANATURALPERSON
HEWILLBETAXEDDIRECTLYFROMTHEINCOMESGAINEDBY
THEPARTNERSHIPINACCORDANCEWITH0)4!CT)FTHE
PARTNERISALIMITEDLIABILITYCOMPANYORAJOINT STOCK
COMPANY THE ENTITY WILL BE TAXED DIRECTLY FROM
INCOMES GAINED BY THE PARTNERSHIP IN ACCORDANCE
WITH#)4!CT
3UBJECTTOTAXATIONWITHINCOMETAXIS
!CCORDINGTO#)4
ALEGALPERSON
 AN ORGANISATIONAL ENTITY WITHOUT CORPORATE PER
SONALITYEXCEPTPARTNERSHIPSBUTNOTALLTYPESOF
PARTNERSHIPS
LIMITEDJOINT STOCKPARTNERSHIP
ACOMPANYWITHOUTCORPORATEPERSONALITYTHATHAS
ITSPLACEOFRESIDENCEORBOARDOFDIRECTORSINAN
OTHERCOUNTRYWHEREACCORDINGTOTHELAWOFTHIS
COUNTRYITISTREATEDASALEGALPERSONANDALLITS
INCOMEISTAXEDINTHATCOUNTRYREGARDLESSOFTHE
PLACEOFGENERATINGTHEINCOMES
!CCORDINGTO0)4
A PARTNER IN A LIMITED PARTNERSHIP OR REGISTERED
PARTNERSHIPIFSHEISANATURALPERSON
4AXPAYERS THAT HAVE THEIR PLACE OF RESIDENCE OR
BOARDOFDIRECTORSIN0OLANDRESIDENTS ARELIABLETO
A TAX OBLIGATION FOR TOTAL PROTS REGARDLESS OF THE



)NCOMESANDCOSTSGENERATEDBYAPARTNERSHIPARE
TAXED SEPARATELY BY EACH PARTNER ACCORDING TO THE
PROPORTIONOFPOSSESSEDSHARESANDWITHTHEAPPRO
PRIATETAXRATEFROM0)4OR#)4!CTDEPENDINGFROM
THELEGALSTATUSOFEACHPARTNER
"RANCHESOFFOREIGNCOMPANIES
&OREIGNINVESTORSHAVETHEPOSSIBILITYTOCHOOSEALE
GALFORMFORTHEIRACTIVITYIN0OLAND4HISCOULDBE
APARTNERSHIPACAPITALCOMPANYORABRANCH
4HEBRANCHISINGENERALTREATEDFORTAXPURPOSES
ASA0OLISHCOMPANYWITHTHECONSIDERATIONOFTHE
LEGALFORMOFITSHEADOFCE/NLY0OLISH GENERATED
INCOMESANDCOSTSARESUBJECTTO0OLISHTAXES
&ROMTHELEGALPOINTOFVIEWABRANCHISNOTASEPA
RATEENTITYBUTAUNITOFAFOREIGNCOMPANY4HERE
FORE THERE IS NO WITHHOLDING TAX ON PROTS TRANS
FERREDTOITSHEADOFCE
4AXCAPITALGROUP
)TISPOSSIBLETOOPTIMISECORPORATEINCOMETAX#)4
OBLIGATIONS BY FORMING A TAX CAPITAL GROUP 4HE
MAINADVANTAGEOFTHISSOLUTIONISTHECALCULATIONOF
ATAXABLEPROTBYADDINGTHEPROTSANDLOSSESOF
ALLTHECOMPANIESINTHEGROUP(OWEVERTHECONDI
TIONSTHATHAVETOBEFULLLEDAREHIGHLYRESTRICTIVE
!GROUPCANBEFORMEDONLYBYATLEASTTWOLIMITED
LIABILITY ANDOR JOINT STOCK COMPANIES HAVING THEIR
REGISTEREDOFCEWITHINTHETERRITORYOF0OLANDIF
ANAVERAGESHARECAPITALOFEACHCOMPANYINTHE
GROUPAMOUNTSTOATLEAST0,.
ONEOFCOMPANIESINTHEGROUPREFERREDTOASTHE
HOLDINGCOMPANYOWNSOFSHARESDIRECTLYIN
THESHARECAPITALOFOTHERCOMPANIESCALLEDSUB
SIDIARIES
THEREARENOOTHERRELATIONSINTHEGROUPANDALSO
WITHCOMPANIESOUTSIDETHEGROUP
ALLCOMPANIESINTHEGROUPHAVENOTAXARREARS
 THE RATIO OF PROT TO INCOME GENERATED BY THE
GROUPINEVERYTAXYEARAMOUNTSTOATLEAST

Taxes
4HELEGALBASISFORATAXCAPITALGROUPISANAGREE
MENTFORTHREEYEARSINTHEFORMOFANOTARYDEED
THATHASTOBEREGISTEREDATATAXOFCE#OMPANIES
FROMTHEGROUPCANNOTUSEANYTAXEXEMPTIONS
4RANSFERPRICING
!LLTRANSACTIONSCARRIEDOUTBETWEENRELATEDINDIVID
UALSANDORCORPORATEENTITIESAREUNDERTHESPECIAL
SUPERVISION OF TAX AUTHORITIES 4HE REASON FOR THIS
IS THE PROTECTION AGAINST THE TRANSFER OF PROTS OF
THE RELATED ENTITY TO THE COUNTRY WHERE ARE MORE
FAVOURABLETAXRATES
!CCORDING TO 0OLISH REGULATIONS A RELATIONSHIP EX
ISTSWHEN
AN ENTITY PARTICIPATES DIRECTLY OR INDIRECTLY IN THE
MANAGEMENTORCONTROLOFANOTHERENTITYORHOLDS
AT LEAST  OF SHARES IN ANOTHER ENTITY CAPITAL
RELATIONSHIP 
THEREISAFAMILIARRELATIONOROTHERRELATIONRESULT
ING FROM AN EMPLOYMENT BETWEEN INDIVIDUALS
WHOACTASAMANAGERORASUPERVISORINDIFFERENT
CORPORATEENTITIESANDORTHESAMEINDIVIDUALSACT
ASAMANAGERORASUPERVISORINTHESAMETIMEIN
DIFFERENTENTITIES
)FARELATIONSHIPEXISTSEACHONEOFTHERELATEDEN
TITIES ARE OBLIGED TO PREPARED A DOCUMENT CALLED
4RANSFER 0RICING 0OLICY WHICH SHOULD DESCRIBE ALL
TRANSACTIONS BETWEEN THE RELATED ENTITIES AND IN
CLUDEAMONGSTOTHERSTHINGSACALCULATIONOFPRICES
ANDPOINTOUTTHERISKSINHERENTTOEACHPARTY4HE
AIMOFSUCHDOCUMENTATIONISTOSHOWTHATTHECON
DITIONS OF THE TRANSACTIONS ARE THE SAME AS THOSE
BETWEEN NON RELATED ENTITIES )N THE CASE OF A TAX
CONTROL THE DOCUMENTATION HAS TO BE PRESENTED
WITHINSEVENDAYSOFTHEDATEOFREQUEST
)FPRICESDONOTCOMPLYWITHTHEARMgSLENGTHPRINCI
PLETHETAXAUTHORITIESAREENTITLEDTOESTIMATETHE
VALUE OF TRANSACTIONS USING ONE OF THE FOLLOWING
METHODS
COMPARABLEUNCONTROLLEDPRICEMETHOD
RESALEPRICEMETHOD
REASONABLEMARGINCOSTPLUS METHOD
TRANSACTIONPROTMETHOD
)FAPROTORALOSSCALCULATEDBYTHETAXAUTHORITIES
ISRESPECTIVELYHIGHERORLOWERTHANTHATGIVENBYAN
ENTITYAPENALTYTAXRATEISAPPLIED



3INCE0OLISHTAXPAYERSMAYAPPLYTOTHE-IN
ISTEROF&INANCEWITHMOTIONTOCONCLUDETHEAGREE
MENTREGARDINGTHECONRMATIONOFTHEUSED4RANS
FER 0RICING 0OLICY 4HIS IS KNOWN AS THE !DVANCED
0RICING!GREEMENT!0! ANDISRELATEDNOTONLYTO
TRANSACTIONSBETWEEN0OLISHTAXPAYERSBUTALSOBE
TWEEN0OLISHANDFOREIGNENTITIES
4HEMAINADVANTAGEOFTHE!0!ISTHEFORMALCON
RMATIONBYTHETAXAUTHORITIESTHATTHECALCULATION
ANDAPPLICATIONOFTRANSFERPRICESCHOSENBYATAX
PAYERARECORRECT4HE!0!OBLIGESTAXAUTHORITIESTO
ACCEPTPRESENTEDMETHODOLOGY
4HE!0!CONCERNSTRANSACTIONSWHICHSHALLBOTHBE
CONCLUDED AFTER THE SUBMISSION OF AN APPLICATION
FOR THE !0! OR THOSE THAT STARTED BEFORE AND ARE
CURRENTLY IN PROGRESS )T DOES NOT REFER TO TRANSAC
TIONSWHICHWERESTARTEDBEFORETHESUBMISSIONOF
AN APPLICATION AND ON THE !0! COMPLETION DATE
WERESUBJECTTOANYTAXCONTROLORPROCEEDINGS
3UBJECTOFTAXATION
4HE SUBJECT OF TAXATION IS THE PROT REGARDLESS OF
THEINCOMESOURCEITWASRECEIVEDFROM0ROTISTHE
AMOUNT OF SURPLUS BETWEEN REVENUES AND TAX DE
DUCTIBLECOSTSRECEIVEDINASCALYEAR)FTHEAMOUNT
OF TAX DEDUCTIBLE COSTS EXCEEDS THE AMOUNT OF IN
COME THE DIFFERENCE IS A LOSS )F A TAXPAYER INCURS
ALOSSHECANREDUCEPROTINFOLLOWINGVEYEARS
BYTHEAMOUNTOFTHISLOSSBUTTHEREDUCTIONCANNOT
BEHIGHERTHANOFTHELOSSINONEYEAR

Taxes
(OWEVERINSOMECASESPUREREVENUEISTOBETAXED
4HESEAREDIVIDENDSLICENCEFEESIEINTERESTSFROM
LOANS ROYALTIES AS WELL AS PROVISIONS OF INTANGIBLE
SERVICESSUCHASMANAGEMENTANDADVISORYSERVICES
ORMARKETRESEARCH )TISIMPORTANTTHATTAXATIONOF
THEABOVESHOULDBEDONEWITHCONSIDERATIONOFTHE
DOUBLE TAXATION AVOIDANCE AGREEMENTS !DDITION
ALLY IN CASE OF RELATED ENTITIES WITHIN %5 AND %%!
THERE IS THE TAX EXEMPTION FOR DIVIDENDS AND FOR
LICENCEFEES

CAPITALTHATCANBEPAIDBACKTOSHAREHOLDERSONLY
INCASEOFTHEDISSOLUTIONOFTHECAPITALCOMPANY

4HE 0OLISH LEGISLATOR EXCLUDED SOME INCOMES AND

COSTSFROMTHETAXATIONSUBJECTTHEREFORETHEYCAN
NOTBETAKENINTOCONSIDERATIONBYCALCULATINGTHE
PROT

4HEDENITIONOFREVENUESINCLUDESAMONGSTOTHERS
THINGSDUEREVENUESEVENIFTHEYARENOTRECEIVED
EXCLUDING PAYMENTS IN ADVANCE FREE AND PARTIALLY
FREEBENETS

4HISREGULATIONAPPLIESFOREXAMPLEINCASESOFLOAN

ANDCREDITINTERESTSPAIDBYA0OLISHCORPORATEENTITY
TO ITS AFLIATES )F ALL THE LIABILITIES OF A 0OLISH COR
PORATEENTITYFROMDIFFERENTSOURCESSUCHASLOANS
CREDITSANDINVOICES DUETOITSAFLIATESWHOHOLD
NO LESS THAN  OF SHARES EXCEED THREE TIMES
THESHARECAPITALVALUEOFTHE0OLISHCORPORATEEN
TITYTHELOANORCREDITINTERESTSARENOTRECOGNISED
AS A TAX DEDUCTIBLE COST IN THE AMOUNT IN WHICH
ALOANORCREDITEXCEEDSATRIPLESHARECAPITALVALUE
4HISLIMITATIONWASPUTINTOFORCETOAVOIDSO CALLED
fTHINCAPITALISATIONgWHICHREFERSTOTHENANCINGOF
ACURRENTBUSINESSACTIVITYVIALOANSANDCREDITS4HIS
CANEASILYBEPAIDBACKTOTHEBORROWERINSTEADOF

4AXRATES

%XAMPLESOFOTHERNON DEDUCTIBLECOSTS
NON DEPRECIATED VALUE OF XED ASSETS THAT ARE
SPENTFORFREE
MOSTPENALTIESANDNES
EXPENDITURESFORACAROVERDETERMINEDLIMITS
REPRESENTATIONEXPENSES

4HE SPECIAL EXEMPTION CONCERNS LICENCE DUES AND

INTERESTSANDDIVIDENDSPAIDBYA0OLISHCAPITALCOM
PANYTOANOTHERCAPITALCOMPANYOUTSIDE0OLANDOR
THE %5 2EGARDING LICENCE DUES AND INTERESTS THE
EXEMPTION CAME INTO FORCE ON *ULY ST  AND
APPLIESIFTHEBELOWCONDITIONSAREFULLLED
AN%5CAPITALCOMPANYHOLDSDIRECTLYNOLESSTHAN
SHARESINA0OLISHCAPITALCOMPANY
A 0OLISH CAPITAL COMPANY HOLDS DIRECTLY NO LESS
THAN  SHARES IN A CAPITAL COMPANY FROM AN
%5COUNTRY

4AXRATES
)NCOMESOURCE

4AXRATE

BUSINESSACTIVITYSELF EMPLOYED UNLESSTHELINEARTAXATIONIS

DECLARED

UPTO0,.
0,.OFTHESURPLUS
OVER0,.
THETAXCREDITAMOUNTS0,.

INCOMESOFCAPITALCOMPANIESANDLIMITEDJOINTSTOCKCOMPANY
SHAREINCAPITALCOMPANIESPROTSIEDIVIDENDSWITHHOLDING
TAX 
INTERESTS
BUSINESSACTIVITYSELF EMPLOYED kAFTERTHEDECLARATIONOFTHE
LINEARTAXATION



NON RESIDENTSgINCOMEDUETOLICENCEDUES
WITHHOLDINGTAX ANDINTANGIBLESERVICES



SOMEINCOMES
DONATIONS
INCOMESOFSOMEENTITIES

EXEMPTION



Taxes
OTHERCAPITALCOMPANIESWHOSEINCOMEISTAXED
INAN%5COUNTRYDIRECTLYHOLDSNOLESSTHAN
SHARESOFBOTHAFOREMENTIONEDCAPITALCOMPANIES

TODEDUCTITFROMHISOWNOUTPUTTAXORTORECEIVE
ITBACKFROMATAXOFCE
3UBJECTOFTAXATION

7ITH RESPECT TO DIVIDENDS THE EXEMPTION APPLIES

WHENACAPITALCOMPANYFROMAN%5COUNTRYDIRECT
LYHOLDSNOLESSTHANOFSHARESFROMA0OLISH
CAPITALCOMPANYFORACONTINUOUSPERIODOFATLEAST
TWOYEARS"OTHACTS#)4AND0)4 ALLOWANUMBER
OF EXEMPTIONS OR LOWER TAX RATES FOR THE INCOME
PROTGENERATEDBYNON RESIDENTSIN0OLAND

PAYABLEDELIVERYOFGOODSANDPAYABLEPROVIDING
OFSERVICESIN0OLAND
EXPORTOFGOODS
IMPORTOFGOODS
INTRA COMMUNITYACQUISITIONOFGOODSWITHREMU
NERATIONIN0OLAND
INTRA COMMUNITYDELIVERYOFGOODS

4HEREFORE A NON RESIDENTgS PLACE OF RESIDENCE AND

REGULATIONSREGARDINGDOUBLETAXTREATIESOFWHICH
0OLANDISPARTSHOULDBETAKENINTOCONSIDERATION
WHENSETTLINGTHENALTAXRATE

4AXABLEPERSON
ALEGALPERSON
AN ORGANISATIONAL ENTITY WITHOUT CORPORATE PER
SONALITY
INDIVIDUALSTHATCARRYOUTANINDEPENDENTBUSINESS
ACTIVITY 6!4 HAS ITS OWN DENITION OF BUSINESS
ACTIVITY THEREFORE EVERY CASE SHOULD BE ANALYSED
SEPARATELY 

/BLIGATIONS
!CCORDING TO THE GENERAL RULE A PAYER OF INCOME
TAXISOBLIGEDTOPAYATAXADVANCEBEFORETHETH
DAYOFTHEMONTHTHATFOLLOWSTHEMONTHINWHICH
THETAXOBLIGATIONAROSEORINCASEOFfSMALLgTAX
PAYERSBEFORETHETHDAYOFTHEMONTHTHATFOL
LOWSTHEQUARTERINWHICHTHETAXOBLIGATIONAROSE
!DDITIONALLYATAXPAYERHASANOBLIGATIONTOSUBMIT
ANANNUALTAXDECLARATIONWITHINTHREEMONTHSFOL
LOWINGTHEYEARINWHICHTAXOBLIGATIONAROSE

6!4PAYERSAREALSOENTITIESWHO
PERFORM INTRA COMMUNITY DELIVERY OF NEW TRANS
PORTMEANS
PERFORMINTRA COMMUNITYACQUISITIONOFGOODSIN
0OLAND
ARE RECIPIENTS OF SERVICES PROVIDED OR GOODS DE
LIVERED BY TAXPAYERS HAVING THEIR REGISTERED SEAT
XED PLACE OF BUSINESS ACTIVITY OR PLACE OF RESI
DENCEOUTSIDE0OLAND

)N CASE OF DIVIDENDS LICENCE DUES AND INTANGIBLE

SERVICES PAID TO AFLIATES AND TO BE TAXED WITH
WITHHOLDING TAX ONLY IF THE TAX EXEMPTION DE
SCRIBED ABOVE IS NOT APPLICABLE  THE TAX HAS TO
BEPAIDWITHINSEVENDAYSFOLLOWINGTHEMONTHIN
WHICH THE TAX OBLIGATION AROSE 4HIS RULE IS HOW
EVER APPLICABLE ONLY TO THOSE FOREIGN AFLIATES
SHAREHOLDERSTHATARELEGALPERSONS)NCASEOFTHE
AFLIATESSHAREHOLDERSTAXPAYERSOF7(4 THATARE
THENATURALPERSONSTHETERMISTWENTYDAYSFOLLOW
INGTHEMONTHINWHICHTHETAXOBLIGATIONAROSE

%NTITIESHAVINGTHEIRREGISTEREDSEATXEDPLACEOF
BUSINESS ACTIVITY OR PLACE OF RESIDENCE OUTSIDE %5
ANDWHOARESUBJECTTOREGISTRATIONASA6!4PAYER
IN0OLANDAREOBLIGEDTOAPPOINTATAXREPRESENTA
TIVE4HISOBLIGATIONDOESNOTCONCERNENTITIESFROM
ANY%5MEMBERSTATEHOWEVERTHEYMAYOPTIONALLY
APPOINTTHETAXREPRESENTATIVE
%NTITIES THAT PERFORM ACTIVITIES MENTIONED IN THE
f3UBJECT OF TAXATIONg ARE OBLIGED TO REGISTER AS AN
ACTIVE 6!4 PAYER BEFORE UNDERTAKING THE RST TAX
ABLEACTIVITY&ROMTHERSTACTIVITYTHEYHAVETOIS
SUEINVOICESWITHTHEPROPER6!4RATEACCORDINGTO
SPECIALREGULATIONS

III.2.2.2. Value added tax

4HE6ALUE!DDED4AX!CTHEREINAFTERREFERREDTOAS
f6!4f USESTHEFOLLOWINGTERMS
OUTPUTTAXkWHENRESULTINGFROMASALEASALES
MANISOBLIGEDTOSHOWANINVOICEANDTOPAYTO
THEBANKACCOUNTOFATAXOFCE
INPUTTAXkATAXTHATABUYEROFGOODSORSERVICES
HASTOPAYTOASALESMANBUTHASTHEPOSSIBILITY

4HEREISTHEPOSSIBILITYOFNOTREGISTERINGFOR6!4IF
AN ENTITY FORESEES THAT THE VOLUME OF A TOTAL AN
NUAL TURNOVER WILL BE LOWER THAN  0,. )N
THISCASEANENTITYISNOTOBLIGEDTOTAXITSTURNOVER



Taxes
HOWEVERISALSONOTELIGIBLETODEDUCTINPUTTAXFROM
PURCHASES
!NINTRA COMMUNITYACQUISITIONANDDELIVERYAREAL
LOWEDONLYFORENTITIESTHATAREREGISTEREDASAN%5
6!4PAYER
#ONSIGNMENTSTOCK
!CONSIGNMENTSTOCKISAWAREHOUSEWHERERAWMA
TERIALSMOVEDBYASUPPLIERkWHOISA6!4PAYERIN
ANOTHER%5STATETHAN0OLANDkFROMITSWAREHOUSE
IN ANOTHER %5 STATE OTHER THAN 0OLAND ARE STORED
4HE CONSIGNMENT STOCK IS LOCATED IN 0OLAND AND
MANAGEDBYA0OLISH6!4PAYER
4HIS PROCEDURE IS A SIMPLICATION THAT ALLOWS SUP
PLIERSNOTTOREGISTERFOR6!4IN0OLANDBECAUSEALL
FORMALITIESCONNECTEDWITHTAXATIONANDTAXREPORTS
ARECOMPLETEDBYA0OLISH6!4PAYER
/BLIGATIONS
!6!4PAYERHASANOBLIGATIONTOSUBMITAMONTHLY
TAXDECLARATIONUNTILTHETHDAYOFTHEMONTHFOL
LOWINGTHEMONTHINWHICHTHE6!4OBLIGATIONAROSE
ORINTHECASEOFfSMALLg6!4PAYERSBEFORETHETH
DAYOFTHEMONTHFOLLOWINGTHEQUARTERINWHICHTHE
6!4 OBLIGATION AROSE )N A 6!4 DECLARATION A 6!4
PAYER HAS TO SHOW THE DIFFERENCE BETWEEN OUTPUT
TAXRESULTINGFROMSALESANDINPUTTAXRESULTINGFROM
PURCHASES)NCASEOFASURPLUSOFOUTPUTTAXA6!4
PAYER IS OBLIGED TO PAY THIS SURPLUS TO A BANK AC

COUNT OF A TAX OFCE WITHIN A TIME LIMIT SET FORTH

FORTAXDECLARATIONS)NCASEOFASURPLUSOFINPUTTAX
THETAXPAYERCANAPPLYFOR6!4RETURNSONHISBANK
ACCOUNTORASSIGNITTOTHENEXTSETTLEMENTPERIOD
)N THE CASE OF AN IMPORTING GOODS 6!4 SHOWN IN
ACUSTOMSDECLARATIONSHOULDBEPAIDWITHIN DAYS
FROMTHEDATEOFCUSTOMSCLEARANCE4HEREARESOME
POSSIBILITIESTOSAVETHE6!4OBLIGATIONINCASEOFTHE
IMPORTOFEQUIPMENTORFACTORYFACILITIES
6!4RETURNFROMTAXOFCE
6!4 MAY BE RECOVERED BY TWO METHODS k INDIRECT
ANDDIRECT
4HEINDIRECTRETURNOFINPUTTAXISTHEMOSTCOMMON
METHOD FOR COMPANIES WHICH HAVE MONTHLY SALES
ANDEXPENSESONACONSTANTLEVEL!6!4PAYERMAY
RECOVERTHEINPUTTAXVIADEDUCTIONFROMOUTPUTTAX
4HE DIRECT TAX RETURN MEANS THE REFUND OF 6!4 BY
MONEY TRANSFER FROM THE TAX OFCE IN THE AMOUNT
OF 6!4 PAID DURING THE PURCHASING PROCESS 4HIS
METHODISCOMMONFORTHESTART UPPHASELIKEIN
DUSTRIALISATIONORPURCHASINGOFASSETSWHENINPUT
6!4 IS ACCUMULATED 4HE RETURN OF 6!4 IS GENER
ALLYMADEWITHINDAYSUNDERTHECONDITIONTHAT
4AX/FCEWILLNOTSUSPENDTHISPERIODBECAUSEOF
CONTROLINA6!4PAYERCOMPANY4HE6!4ACTALSO
GOVERNSTHESHORTERTERMOFDAYSFORREFUNDBUT
ONLYONCERTAINCONDITIONS!LLTHEABOVEMENTIONED
DEADLINESMAYBEEASILYEXTENDEDBYTHETAXOFCE
DURINGTHETAXCONTROL

4AXRATES
!CTIVITY

4AXRATE

ALLBESIDESBELOWMENTIONED



SOMEGOODSANDSERVICESSPECIEDINTHE!CT

AND

EXPORTOFGOODS
INTRA COMMUNITYDELIVERYOFGOODS
INTERNATIONALTRANSPORT



SUPPLYOFGOODSUSEDONLYFORACTIVITYEXEMPTEDFROM6!4
NANCIALSERVICES



EXEMPTED

Taxes
4HE TRANSFER OF GOODS BETWEEN 0OLAND AND NON %5
COUNTRIESISSTILLGOVERNEDBYTHE#USTOMS#ODEAND
ISCLASSIEDASIMPORT EXPORT!LLREGULATIONSRELATEDTO
CUSTOMSCLEARANCECUSTOMSRATESANDOBLIGATIONSARE
GOVERNEDONTHE%5LEVELALTHOUGHTHELOCALCOUNTRY
PRACTICEISSTILLIMPORTANTANDISRECOGNISEDASBINDING
ANDVALIDIETHETECHNICALANDPROCEDURALASPECTS 

III.2.2.3.
Tax on civil law transaction
7ITHRESPECTTOABUSINESSACTIVITYTHEFOLLOWINGTRANS
ACTIONSAMONGSTOTHERSARETAXEDWITHTAXONCIVILLAW
4AXONCIVILLAWTRANSACTIONSSHOULDBEPAIDWITHIN
DAYSFROMTHEDATEOFATRANSACTION
!CTIVITY
ARTICLESOFINCORPORATIONSOF
CAPITALCOMPANIESASWELLAS
PARTNERSHIPS
INCREASEOFTHECAPITALOR
CONTRIBUTIONINPARTNERSHIP
LOANGRANTEDBYAPARTNERTO
PARTNERSHIP

4AXRATE

4HE IMPORT OF GOODS SUCH AS RAW MATERIALS FROM

ANON %5COUNTRYINTOTHE%5ANDEVENTUALLYTO0OLISH
TERRITORYCREATESANOBLIGATIONTOPAYCUSTOMSAND6!4
INTHECOUNTRYOFCUSTOMSCLEARANCEORCOUNTRYOFDES
TINATIONFORSUPPLY4HEPROCEDUREDEPENDSONOBLIGA
TIONSOFTHESUPPLIERANDDELIVERYPROCEDURE
%XCISETAX
4HEACTOF%XCISE4AXREGULATESPRODUCTIONANDTRAD
INGOFOFEXCISE DUTYGOODSSUCHASELECTRICALPROD
UCTS ELECTRICITY ALCOHOL TOBACCO PRODUCTS INCLUD
INGDRIEDTOBACCO MOTORFUELHEATINGOILANDGAS
ANDPASSENGERCARS



LOANSGRANTEDBYSHAREHOLDERTO
CAPITALCOMPANY
LOANAGREEMENTS

EXEMPTION

4AXABLEPERSON

SALESORDONATIONOFAPROPERTY
INCLUDINGIMMOVABLEPROPERTY



SALESOFSOMENANCIALRIGHTS
INCLUDINGSHARES



ALEGALPERSON
AN ORGANISATIONAL ENTITY WITHOUT CORPORATE PER
SONALITY
INDIVIDUALS THAT CARRY OUT TRANSACTIONS TAXED BY
EXCISETAX
3UBJECTTOTAXATION
PRODUCTIONOFEXCISE DUTYGOODS
TAKING OUT EXCISE DUTY GOODS FROM A TAX WARE
HOUSE
SALEOFEXCISE DUTYGOODSIN0OLAND
IMPORTOFEXCISE DUTYGOODS
INTRA COMMUNITYACQUISITIONOFEXCISE DUTYGOODS

III.2.2.4.
Custom and excise tax
#USTOM4AX
3INCE ST -AY  0OLISH TERRITORY IS PART OF THE
#USTOMS 5NION A FACT WHICH HAS CAUSED SIGNICANT
CHANGES IN CUSTOMS CLEARANCE REGARDING IMPORT AND
EXPORTGOODSTOANDFROM0OLISHTERRITORY!NYEXIST
INGCUSTOMSBARRIERSBETWEEN0OLANDAND%5MEMBER
STATES DISAPPEARED 4HE TRANSFER OF GOODS BETWEEN
THE%5MEMBERSTATESISREALISEDBYINTRA COMMUNITY
ACQUISITION AND SUPPLY OF GOODS AS WELL AS SERVICES
!DDITIONALLY ON ST *ANUARY  0OLAND JOINED THE
3CHENGENZONEWHICHRESULTEDINTHEABOLITIONOFBOR
DER CHECK POINTS BETWEEN 0OLAND AND ITS %5 NEIGH
BOURCOUNTRIES



4AXRATESAREEXPRESSEDASPERCENTAGEOFTHEVALUE
OFGOODSORONAVOLUMEBASISXEDRATEPERPROD
UCTUNIT 

III.2.2.5. Duty-free zones

!DUTY FREEZONE$&: ISASEPARATEENTITYNOTIN
HABITEDASPARTOFALARGERCUSTOMSAREAWHICHIS
TREATED AS A FOREIGN TERRITORY AND FOR WHICH A UNI
FORM CUSTOMS SYSTEM APPLIES !LL ENTRIES AND EXITS
WITHIN$&:AREUNDERCUSTOMSSUPERVISION

Taxes
4HE ADVANTAGE OF A $&: IS THAT FOREIGN MERCHAN
DISEOTHERTHANFROM%5OR%%! BROUGHTINARESOLD
WITHOUTIMPORTDUTIESEXCISETAXAND6!4
4HE DUTY FREE ZONES IN 0OLAND ARE LOCATED ON THE
MAIN COMMUNICATION ROUTES AIRPORTS HARBOURS
BORDERCROSSINGS 
-APOFDUTYkFREEZONESIN0OLAND

'DYNIA
'DASK

WINOUJCIE
3ZCZECIN

"YDGOSZCZ
7ARSZAWA
0OZNA

III.2.2.6.
Customs bonded warehouse
!CUSTOMSBONDEDWAREHOUSEISABUILDINGOROTHER
SECURED AREA IN WHICH DUTIABLE GOODS OTHER THAN
FROM%5OR%%! MAYBESTOREDMANIPULATEDORUN
DERGOMANUFACTURINGOPERATIONSWITHOUTPAYMENT
ORDUTYUNDERBONDANDINTHEJOINTCUSTODYOFTHE
IMPORTERORHISAGENTANDTHECUSTOMSOFCERS)T
MAYBEESTABLISHEDANDMANAGEDBYTHESTATEORBY
PRIVATEENTERPRISE)NTHELATTERCASEACUSTOMSBOND
MUSTBEPOSTEDWITHTHEGOVERNMENT
4HE MAIN ADVANTAGE OF A CUSTOMS BONDED WARE
HOUSEISTHATALLPAYMENTSCONNECTEDWITHAGOODS
IMPORTIMPORTDUTIESEXCISETAXAND6!4 AREPOST
PONED UNTIL THE MOMENT OF THEIR WITHDRAWAL FOR
CONSUMPTIONWITHIN0OLAND

-SZCZONW
D

7ROCAW
'LIWICE
2ZESZW
+RAKW

III.2.2.7. Local taxes

4AX RATES OR EXEMPTIONS IN THE PROPERTY TAX AND
VEHICLETAXAREDETERMINEDBYACOMMUNECOUNCIL
BUTTHEYCANNOTBEHIGHERTHANLIMITSGIVENBYTHE
LEGISLATOR

3OURCE*07EBER

&ORTHEENTREPRENEURSTHEMOSTIMPORTANTLOCALTAXESARE
+INDOFTAX

3COPE

4AXBASE

0ROPERTYTAX

LANDUSEDFORBUSINESSACTIVITYPURPOSES
ABUILDINGORITSPARTS
STRUCTUREORITSPARTSUSEDTOCONDUCT
ABUSINESSACTIVITY

FORLANDANDBUILDINGSkAREA
FORSTRUCTURESkVALUE

6EHICLETAX

LORRIESOVERTONS
TRAILERS
BUSES

ADMISSIBLETOTALWEIGHTOFAVEHICLEFORLORRIES
ANDTRAILERS
NUMBEROFSEATSkFORBUSES

&ORESTTAX

ACTIVITYCONDUCTEDWITHUSINGAFOREST

NUMBEROFHECTARESRESULTINGFROMTHEREGISTER
OFLANDSANDBUILDINGS

!GRICULTURAL
TAX

ARABLELAND
WOODEN ANDBUSH COVEREDLANDONARABLE
LAND
EXCLUDINGLANDSUSEDFORBUSINESSACTIVITY
OTHERTHANAGRICULTURAL

FORFARMSkAMOUNTOFHECTARESTAKENFOR
CALCULATIONPURPOSESDEPENDINGONAQUALITY
OFALAND
FOROTHERLANDSkAMOUNTOFHECTARESRESULTING
FROMTHEREGISTEROFLANDSANDBUILDINGS



Taxes

III.2.3. Taxation
of individuals

%XAMPLESOFEXEMPTIONSESTABLISHEDBYTHELEGISLATOR
0ROPERTYTAX
REALESTATEUSEDBYASSOCIATIONSTOCONDUCTASTAT
UTORYACTIVITYAMONGCHILDRENANDYOUTH
LANDSANDBUILDINGSREGISTEREDINDIVIDUALLYINTHE
REGISTEROFHISTORICALMONUMENTSkONCERTAINCON
DITIONS
NON ARABLELANDSECOLOGICALARABLELANDSEXCLUD
INGUSEDFORBUSINESSACTIVITY
6EHICLETAX
HISTORICALVEHICLES
AS A RECIPROCITY RULE k VEHICLES POSSESSED BY FOR
EIGN EMBASSIES CONSULATES AND OTHER MISSIONS
THATUSEDIPLOMATICPRIVILEGESANDIMMUNITYUPON
ACTSAGREEMENTSORCUSTOMS
&ORESTTAX
FORESTSWITHWOODSNOOLDERTHANYEARS
FORESTSREGISTEREDINDIVIDUALLYINTHEREGISTEROFHIS
TORICALMONUMENTS
!GRICULTURALTAX
ARABLELANDSOFTHELOWESTQUALITY
LANDSFORANEWFARMUPTOTHEAREAOFHEC
TARESkONCERTAINCONDITIONS

III.2.3.1. Personal Income Tax

%NTITYOFTAXATION
INDIVIDUAL NATURAL PERSON THAT IS A PARTNER IN
ALIMITEDPARTNERSHIPORREGISTEREDPARTNERSHIP
NATURALPERSONCONDUCTINGECONOMICACTIVITY THE
SOLEPROPRIETOR
ANINDIVIDUAL
!CCORDINGTOTHE0OLISH0ERSONAL)NCOME4AX!CTALL
INDIVIDUALSARELIABLETOTAXTHEIRINCOMEBY0)4BUT
DEPENDINGONTHEIRRESIDENCESTATUSTHETAXLIABIL
ITYCANBEUNLIMITEDANDLIMITED4HERSTOFTHESE
REFERSTOTHEWORLDWIDEINCOMEOFARESIDENTkAN
INDIVIDUALWHOHASHISCENTREOFECONOMICORVITAL
INTERESTIN0OLANDORSTAYSIN0OLANDFORLONGERTHAN
 DAYS IN A CALENDAR YEAR 4HE SECOND CONCERNS
ANON RESIDENTgSINCOMETHATAROSEORWASSOURCED
IN0OLAND
3UBJECTOFTAXATION

III.2.2.8. Stamp duty

3TAMP DUTY IS COLLECTED FROM STATE ADMINISTRATION
AGENCIESgACTIVITIESTHATARESPECIEDINREGULATIONSIE
REGISTRATIONFOR6!40,.
GIVINGAPOWEROFATTORNEY0,.
CERTICATETHATANENTITYHASNOOVERDUETAXLIABILI
TIES0,.

0OLISHREGULATIONSDENEALOTOFINCOMESOURCES!S
A RULE PROT FROM EACH SOURCE IS CALCULATED SEPA
RATELY0ROTISANAMOUNTOFSURPLUSBETWEENREV
ENUESANDTAX DEDUCTIBLECOSTSRECEIVEDINASCAL
YEAR)FTHEAMOUNTOFTAX DEDUCTIBLECOSTSEXCEEDS
THE AMOUNT OF INCOME THE DIFFERENCE IS A LOSS )F
ATAXPAYERINCURSALOSSHECANREDUCETHEPROTIN
NEXTFOLLOWINGVEYEARSBYTHEAMOUNTOFTHISLOSS
BUT THE REDUCTION CANNOT BE HIGHER THAN  OF
THELOSSINONEYEAR)TDOESNOTAPPLYTOLOSSPAY
ABLEONDISPOSALOFITEMSPROPERTIESANDRIGHTSCON
NECTEDTOPROPERTIES
4HE 0OLISH LEGISLATOR EXCLUDED SOME INCOME AND
COSTS FROM THE TAXATION SUBJECT THEREFORE THEY
CANNOT BE TAKEN INTO CONSIDERATION BY CALCULATING
THE PROT !DDITIONALLY IN SOME CASES REGULATIONS
OF DOUBLE TREATIES OF WHICH 0OLAND IS PART CAN
CHANGE THE STATUS OF AN INDIVIDUAL AND THEREFORE
THE COUNTRY OF TAXATION OF SOME INCOME SOURCES
ORREDUCETAXRATESEGFORDIVIDENDSINTERESTSOR
LICENCEDUES



Taxes
4HEDENITIONOFREVENUESINCLUDESAMONGOTHERS
DUEREVENUESEVENIFTHEYARENOTRECEIVEDEXCLUD
INGPAYMENTSINADVANCEANDFREEANDPARTIALLYFREE
BENETS
4HE DEDUCTIBLE COSTS FOR PEOPLE WHO DO NOT RUN
ABUSINESSACTIVITYARESTRICTLYDENEDINTHE!CTEG
OFINCOMEFORACTIVITIESRELATEDTOEXPLOITING
COPYRIGHTSHOWEVERTHETOTALTAXDEDUCTIBLECOSTS
INTHESCALYEARCANNOTEXCEEDTHEAMOUNTOF0,.

THEANNUALLUMP SUMCOSTTHATINAMOUNTS
TO0,.FOREMPLOYEES
OFINCOMEFORCIVILLAWAGREEMENTS
SOCIALINSURANCES
EXPENSESFORREHABILITATIONPURPOSES
/BLIGATIONS
4HETAXYEARFORALLINDIVIDUALSISTHECALENDARYEAR
$URING THE YEAR INCOME TAX PAYERS ARE OBLIGED TO
PAYATAXADVANCEBEFORETHETHDAYINTHEMONTH
FOLLOWING THE MONTH IN WHICH THE TAX OBLIGATION

AROSE OR IN THE CASE OF fSMALLg TAXPAYERS BEFORE

THETHDAYOFTHEMONTHFOLLOWINGTHEQUARTERIN
WHICHTHETAXOBLIGATIONAROSE!DDITIONALLYATAX
PAYERISOBLIGEDTOSUBMITANANNUALTAXDECLARATION
BEFORE!PRILTHFOLLOWINGTHEYEARINWHICHTHETAX
OBLIGATIONAROSE
)N THE CASE OF THE REMUNERATION OF EMPLOYEES AN
EMPLOYER IS OBLIGED TO CALCULATE DEDUCT AND PAY
THEMONTHLYTAXADVANCESTOACOMPETENTTAXOFCE
)NDIVIDUALSWHORECEIVEANYINCOMEFROMABROADARE
OBLIGEDTOCALCULATEANDPAYMONTHLYTAXADVANCES
THEMSELVES
4AXRATES
-ARRIEDCOUPLESANDSOLEPARENTSAREENTITLEDTOTAX
THEIRINCOMEINDIVIDUALLYORJOINTLYIFCERTAINCONDI
TIONSAREMETEXCLUDINGTHECASEINWHICHONEOF
THEMISTAXEDBYTHELINEARRATE
4HE0)4!CTALLOWSANUMBEROFEXEMPTIONSORLOWER
TAX RATES FOR INCOMEPROT GENERATED BY NON RESI
DENTSIN0OLAND4HEREFOREANON RESIDENTgSPLACEOF
RESIDENCEANDREGULATIONSOFDOUBLETAXTREATIESOF
WHICH0OLANDISAPARTSHOULDBETAKENINTOCONSID
ERATIONWHENSETTLINGTHENALTAXRATE

)NCOMESOURCE

4AXRATE

EMPLOYMENTCONTRACTS
CIVILLAWAGREEMENTS
ACTIVITYPERFORMEDPERSONALLYEGMEMBERSOFBOARDOFDIRECTORS 
BUSINESSACTIVITYSELF EMPLOYED kUNLESSTHELINEARTAXATIONIS
DECLARED
RENTAL
OTHER

UPTO0,.
0,.OFTHE
SURPLUSOVER0,.
THETAXCREDITAMOUNTS
0,.

BUSINESSACTIVITYSELF EMPLOYED kAFTERTHEDECLARATIONOFTHE

LINEARTAXATION
CAPITALGAINSINTERESTS



NON RESIDENTSgINCOMEDUETOLICENCEDUESWITHHOLDINGTAX AND

INTANGIBLESERVICES



SOMEINCOME
RETURNOFBUSINESSTRIPCOSTSLIKEPERDIEMTRAVELAND
ACCOMMODATIONEXPENDITURES
EXPENSESPAIDBYANEMPLOYERFOREDUCATIONANDENHANCEMENTOF
QUALICATIONSOFHISEMPLOYEES
THEVALUEOFSOMEBENETSPAIDBYANEMPLOYERDUETOAN
ACCOMMODATIONOFEMPLOYEES



EXEMPTED

Taxes
III.2.3.2.
Inheritance and donation tax

ACQUIRED !S A RULE THE FURTHER RELATION BETWEEN

THESETHEHIGHERTHEAPPLICABLETAXRATE4HISRANG
ESBETWEENAND4HETAXISCALCULATEDAS
THESURPLUSINTAXABLEBASEOVERTHETAXALLOWANCE
AMOUNTWITHTHEUSEOFTHEABOVETAXRATESFROM
THESCALE

3UBJECTOFTAXATION
!CQUISITIONBYINDIVIDUALSOFOWNERSHIPOFITEMSLO
CATED IN 0OLAND OR OF PROPERTY RIGHTS EXERCISED IN
0OLANDDUETO
INHERITANCELEGACY
DONATIONS
THEGRATUITOUSCANCELLATIONOFJOINTOWNERSHIP
4AXBASE
6ALUE AFTER THE DEDUCTION OF DEBTS AND BURDENS
CALCULATEDACCORDINGTOTHECONDITIONOFANITEMOR
APROPERTYRIGHTONTHEACQUISITIONDATEANDMARKET
PRICESONTHETAXOBLIGATIONDATE
4AXRATE
$EPENDS ON THE PERSONAL RELATION OF A RECEIVER TO
APERSONFROMWHOSEITEMSORPROPERTYRIGHTSWERE



4HELEGISLATORFORESEESSOMEEXEMPTIONFROMINHER
ITANCEANDDONATIONTAXEG
THEACQUISITIONOFPROPERTYORPROPERTYRIGHTSBY
THE MEMBERS OF THE CLOSEST FAMILY SPOUSE SUC
CESSOR ASCENDANT STEPCHILD SIBLINGS STEPFATHER
STEPMOTHER AND AFTER FULLLMENT OF ADDITIONAL
CONDITIONS OTHERWISE THE TAXATION IN ACCORDANCE
WITHTHEGENERALRULESMENTIONEDABOVE
THEACQUISITIONOFAATORABLOCKOFATSkFORTHE
AMOUNTOFMBUTONLYAFTERTHEFULLMENTOF
CERTAINCONDITIONS
THE ACQUISITION OF AN ITEM OR A PROPERTY RIGHTS
FROM ONE PERSON DURING THE LAST VE YEARS k UP
TO TOTAL AMOUNT OF 0,.  DEPENDING ON
THEPERSONALRELATIONBETWEENARECEIVERANDTHE
PERSONFROMWHOMITEMSORPROPERTYRIGHTSWERE
ACQUIRED



III.3.

Investment
incentives
"USINESS OPPORTUNITIES FOR 0OLAND CAN BE CONSID
ERED ATTRACTIVE $UE TO A SOLID BASE OF ECONOMIC
GROWTH OVER THE PAST YEARS !DDITIONALLY 0OLAND
HASNOTBEENHITBYTHEGLOBALNANCIALCRISISINTHE
SAMEWAYASOTHERCOUNTRIES
4HEBANKINGSECTORISSTABLETHEMAININDICATORSFOR
&$){SAREEXCELLENTANDLOCALGOVERNMENTINVESTMENT
ISATAHIGHLEVEL&URTHERMORETHESTRUCTURALFUNDS
FROMTHE%5WILLUNDERLINETHISTENDENCYANDKEEP
THEINVESTMENTVOLUMEONA HIGHOREVENINCREAS
INGLEVEL
0UBLICAIDFOR&$)ISENSUREDMAINLYTHROUGHTHELEGAL
ACTSCONSTITUTINGTHE3PECIAL%CONOMIC:ONES3%: 
4HE OPPORTUNITIES ARE HIGHLY INTERESTING FOR LONG
TERM DIRECT INVESTMENT )T IS POSSIBLE TO COMBINE
DIFFERENT INSTRUMENTS OF PUBLIC AID BUT THIS CANNOT
EXCEEDTHEADMISSIBLEINTENSITYOFREGIONALAID

III.3.1.
EU structural funds
20142020

REGIONAL /PERATIONAL 0ROGRAMMES 4HE THREE MOST

IMPORTANTNATIONAL/PERATING0ROGRAMMESARE)N
FRASTRUCTURE AND %NVIRONMENT 3MART 'ROWTH AND
+NOWLEDGE %DUCATION AND $EVELOPMENT !PART
FROMGROUPOFNATIONAL/PERATIONAL0ROGRAMMES
COVERING ISSUES AT THE NATIONAL LEVEL EACH OF 
VOIVODSHIPS HAS ITS OWN SPECIC 2EGIONAL /PERA
TIONAL0ROGRAMME
&INANCIALSUPPORTWILLBEPROVIDEDPARTLYASINVEST
MENT AID AND PARTLY AS OTHER TYPES OF AID AMONG
OTHERS
2$ACTIVITYGRANTS
ENVIRONMENTALGRANTS
TRAININGGRANTS
)NVESTMENT SUPPORT WILL BE GRANTED MAINLY IN THE
FORM OF THE REPAYABLE NANCIAL INSTRUMENTS .ON
REPAYABLESUPPORTINTHEFORMOFGRANTSWILLGOTO
CONDUCTING2$WORKPURCHASING2$EQUIPMENT
AND TO THE MOST INNOVATIVE INVESTMENTS RELATED
TO 2$ WORKS IMPLEMENTATION  WHICH WILL ENABLE
GENERATING NEW TECHNOLOGIES NEW PRODUCTS AND
SERVICES
4HE FOLLOWING TABLE ILLUSTRATES OPERATIONAL PRO
GRAMMES AVAILABLE IN 0OLAND PRESENTED BUDGET
DISTRIBUTION MAY BE MODIED AS IT IS A SUBJECT OF
NEGOTIATIONWITHTHE%UROPEAN#OMMISSION 

&ROMTO0OLANDWILLGAIN%52BILLION
FROM%5#OHESION0OLICYAB%52BILLIONAFTER
DEDUCTINGTRANSFERSRELATINGTOADDITIONALFUNDSFOR
IAHELPFORTHEPOORESTPEOPLEAND#ONNECTING%U
ROPE&ACILITYINSTRUMENT 4HISSUMWILLBEINCREASED
OWINGTONECESSARYDOMESTICCONTRIBUTIONFROMTHE
0OLISH 'OVERNMENT &INANCIAL SUPPORT WILL BE PRO
VIDEDMAINLYWITHINTHEFRAMEWORKOFNATIONALAND



/PERATIONAL0ROGRAMMEk)NFRASTRUCTURE
AND%NVIRONMENT)A%/0
#ONSIDERING NEEDS REGARDING TRANSPORT THE ENVIRON
MENTANDOTHERTYPESOFINFRASTRUCTUREOFTHETO
TALFUNDSWILLBEDISTRIBUTEDFORTHISPROGRAMMEFROM
SOURCESOFTHE%UROPEAN2EGIONAL$EVELOPMENT&UND
%2$& ANDTHE#OHESION&UND4HEAIMOF)A%/0IS

Investment incentives

.AME

OFTOTALFUNDS

!MOUNTIN%52BILLIONS

/0)NFRASTRUCTUREAND%NVIRONMENT





/03MART'ROWTH





/0+NOWLEDGE%DUCATIONAND$EVELOPMENT





/0%ASTERN0OLAND





/0$IGITAL0OLAND





/04ECHNICAL!SSISTANCE





2EGIONAL/PERATIONAL0ROGRAMMES





TO SUPPORT AN ENVIRONMENTALLY FRIENDLY LOW EMISSION

ECONOMYSTRENGTHENINGTERRITORIALANDSOCIALCOHESION
)SSUESCONNECTEDWITHBALANCEDDEVELOPMENTWILLALSO
HAVEAMAJORIMPORTANCEDUETOTHEFOLLOWINGSTREAMS
OFINVESTMENTINTHEENERGYSECTOR4HENECESSARYIN
VESTMENT IN THE DIVERSICATION OF TRADITIONAL ENERGY
SOURCESISTOBEACHIEVEDUSINGMARKETMECHANISMS
INVESTING IN RENEWABLE ENERGY REDUCING DEMAND
FOR ENERGY AND OTHERWISE ENVIRONMENTALLY FRIENDLY
PROJECTS )NVESTMENTS OF KEY SUPRA REGIONAL IMPOR
TANCECONCERNINGTHESOCIALINFRASTRUCTUREHEALTHCARE
CULTUREANDHIGHEREDUCATION WILLBECOMPLEMENTARY
TOTHESEAREAS4HEEXPECTEDVALUEOFTHESEINDICATORS
OFEXPENDITUREONTHEIMPLEMENTATIONOFTHE%52/0!
GOALSWILLBEREACHEDBYCONCENTRATINGTHE%5
FUNDING ON THE ACTIVITIES FOR THE CONFORMITY OF THE
NATIONALTRANSPORTSYSTEMWITHTHE%UROPEANSYSTEM
MAINLY THE DEVELOPMENT OF THE TRANSPORT INFRASTRUC
TURE OF TRANSNATIONAL OUTREACH WITH RESPECT TO THE
PRINCIPLESOFBALANCEDDEVELOPMENT
4HE)A%/0CONTAINSEIGHTPRIORITIES
PROMOTIONOFRENEWABLEENERGYSOURCESANDEN
ERGYEFCIENCY
ENVIRONMENTPROTECTIONINCLUDINGCLIMATECHANGE
ADAPTATION
DEVELOPMENTOFENVIRONMENTALLY FRIENDLYANDSIGNIF
ICANTONA%UROPEANSCALETRANSPORTINFRASTRUCTURE
INCREASING THE AVAILABILITY OF %UROPEAN TRANSPORT
NETWORK
DEVELOPMENTOFANENERGYSECURITYINFRASTRUCTURE
PROTECTIONANDDEVELOPMENTOFCULTURALHERITAGE
STRENGTHENINGSTRATEGICHEALTHCAREINFRASTRUCTURE
TECHNICALASSISTANCE



/PERATIONAL0ROGRAMMEk+NOWLEDGE%DUCATION
AND$EVELOPMENT+%$/0
&INANCEDFROMTHE%UROPEAN3OCIAL&UND%3& 
)N THE VIEW OF THE SCALE OF SOCIAL PROBLEMS 
OF THE %5 FUNDS ARE BEING ALLOCATED TO THE IMPLE
MENTATION OF PROJECTS WHICH WILL BE CO NANCED
BYTHE%UROPEAN3OCIAL&UND!SUBSTANTIALPARTOF
THESE FUNDS UNDER THAT PROGRAMME IS FOCUSED ON
THEIMPLEMENTATIONOFTHE%52/0!GOALS4HE
PROGRAMMEISCONCENTRATEDONTHEFOLLOWINGAREAS
EMPLOYMENT EDUCATION INCLUDING HIGHER EDUCA
TION SOCIALINCLUSIONDEVELOPMENTOFTHEMOBILITY
ANDADAPTABILITYOFWORKERSANDENTERPRISESASWELL
AS ISSUES CONNECTED WITH IMPROVEMENT OF GOVERN
ING EFFECTIVENESS )T CREATES AN EFCIENT AND EFFEC
TIVEPUBLICADMINISTRATIONATALLLEVELSIMPLEMENTING
AGOODGOVERNANCEPRINCIPLEANDHEALTHPROMOTION
IN HUMAN RESOURCES 4HE OVERALL GOAL OF THE PRO
GRAMME IS TO OPTIMIZE 0OLANDgS HUMAN RESOURCES
POTENTIAL THROUGH INCREASING EMPLOYMENT THE
ADAPTABILITY OF ENTERPRISES AND EMPLOYEES RAISING
THELEVELOFEDUCATIONINSOCIETYREDUCINGAREASOF
SOCIALEXCLUSIONANDSUPPORTINGTHEDEVELOPMENTOF
THESTATEgSADMINISTRATIVESTRUCTURES
4HE COMBINATION OF ALL AREAS SUPPORTED BY THE %3&
AND RESOURCES ARE CONCENTRATED ON ONE CENTRAL PRO
GRAMME AND ON REGIONAL OPERATIONAL PROGRAMMES
RESULTINGFROMTHENEEDTOENSUREACONSISTENTSYSTEM
FORTHEIMPLEMENTATIONOF%3&IN0OLAND

Investment incentives
4HE+%$/0CONTAINSVEPRIORITIES
EFFECTIVE PUBLIC POLICIES FOR THE LABOUR MARKET
ECONOMYANDEDUCATION
HIGHEREDUCATIONFORECONOMYANDDEVELOPMENT
YOUNGPEOPLEONTHELABOURMARKET
SOCIALINNOVATIONSANDINTERNATIONALCOOPERATION
TECHNICALASSISTANCE
/PERATIONAL0ROGRAMMEk3MART'ROWTH3'/0
&INANCEDFROMTHE%&2$
 OF THE TOTAL OF THE %5 FUNDS IS ALLOCATED TO
THE3'/0)TISASSUMEDTHATTHEHIGHESTPERFORM
ANCEVALUEINDICATORSWILLBEREACHEDUNDERTHISPRO
GRAMME4HEFOCUSOFTHE3'/0ISTOINCREASETHE
NUMBER OF INNOVATIONS BY INCREASING 2$ OUTLAYS
DEVELOPMENT OF 2$ INSTITUTIONS DEVELOPMENT OF
COOPERATIONBETWEENTHESCIENCEANDBUSINESSAS
WELLASDIVERSIFYINGENTREPRENEURSHIPPOTENTIAL4HE
INVESTMENTSHOULDBERESPONSIVETOTHENEEDSOFTHE
%53INGLE-ARKET
4HE PROGRAMME SUPPORTS INNOVATION AT A NATIONAL
LEVEL )NNOVATION AT LOCAL OR REGIONAL LEVELS IS SUP
PORTED AND PROMOTED THROUGH THE 2EGIONAL /P
ERATIONAL0ROGRAMMES4HEMAINGOALOFTHE3MART
'ROWTH /PERATIONAL 0ROGRAMME IS THE DEVELOP
MENT OF THE 0OLISH ECONOMY BASED ON INNOVATIVE
ENTERPRISES4HEPROGRAMMEgSDETAILEDOBJECTIVESIN
CLUDEINCREASINGTHEINNOVATIVENESSOFENTERPRISES
ENHANCING THE COMPETITIVENESS OF 0OLISH SCIENCE
CREATINGBETTERSUSTAINABLEJOBSANDINCREASINGTHE
USEOF)#4INTHEECONOMY

OF ECONOMIC DEVELOPMENT POORLY DEVELOPED IN

ADEQUATE TRANSPORT INFRASTRUCTURE AND INSUFCIENT
GROWTHFACTORS
4HEOUTREACHOFTHE/0%0COVERSTHEAREASOFIN
TERVENTION OF OTHER PROGRAMMES BUT IT DIFFERS IN
THATITSSCOPEISRESTRICTEDTOSELECTEDAREASWHICH
BECAUSEOFTHESCALEOFACTIVITIESANDTHEEXPECTED
LONG TERMRESULTSMAYHAVEASPECIALIMPACTONTHE
DEVELOPMENTPROCESS4HISPROGRAMMEISANADDI
TIONALELEMENTOFSUPPORTUNDERTHE%53TRUCTURAL
&UNDSWHICHWILLENHANCETHEACTIONSOFOTHERPRO
GRAMMESIN%ASTERN0OLAND
4HE/BJECTIVEOFTHE/PERATIONAL0ROGRAMME%AST
ERN0OLANDISINCREASINGCOMPETITIVENESSANDINNO
VATIVENESS OF IN %ASTERN 0OLAND MACROREGION 4HE
MAINOBJECTIVEOFTHEPROGRAMMEWILLBEACHIEVED
THROUGHTHEIMPLEMENTATIONOFSPECICOBJECTIVES
NAMELY
SUPPORTINGINNOVATIVENESSAND2$
SUPPORTING COMPETITIVENESS OF ENTERPRISES ESPE
CIALLYINTHEAREAOFINTERNATIONALIZATION
INCREASING EFFECTIVENESS OF PROVINCIAL CITIES AND
THEIRFUNCTIONALAREASTRANSPORTSYSTEMS
INCREASINGINNERCOHESIONOFTHEMACROREGION
4HE/0%0CONTAINSVEPRIORITIES
INNOVATIVE%ASTERN0OLAND
ENTREPRENEURIAL%ASTERN0OLAND
MODERNTRANSPORTINFRASTRUCTURE
SUPRA REGIONALRAILINFRASTRUCTURE
TECHNICALASSISTANCE

4HE3'/0CONTAINSTHREEPRIORITIES

/PERATIONAL0ROGRAMMEk$IGITAL0OLAND/0$0

INCREASINGTHE2$POTENTIALFORTHEDEVELOPMENT
OF0OLAND
INCREASING THE SCIENTIC INNOVATIVE POTENTIAL OF
0OLISHCOMPANIES
TECHNICALASSISTANCE

4HE /PERATIONAL 0ROGRAMME $IGITAL 0OLAND /0

$0 IS NANCED FROM THE %UROPEAN 2EGIONAL $E
VELOPMENT &UND /0 $0 FOCUSES MAINLY ON THE
IMPLEMENTATION OF SMART GROWTH PRIORITY 
OF THE FUNDS WILL BE DEDICATED TO )#4 PROJECTS
BROADBAND NETWORKS AND E SERVICES /0 $0 ALSO
CONTRIBUTES TO ACHIEVING THE OBJECTIVES OF THE
$IGITAL !GENDA FOR %UROPE WHICH IS ONE OF THE
SEVEN hAGSHIP INITIATIVESi OF THE %UROPE 
3TRATEGY4HEPROGRAMMEISINTENDEDFORADMINIS
TRATIONOFCESANDTHEIRUNITSASWELLASTELECOM
MUNICATIONSOPERATORS/0$0WILLSUPPORTPUBLIC
ADMINISTRATION ESPECIALLY IN PROVISION OF PUBLIC
E SERVICES

/PERATIONAL0ROGRAMMEk%ASTERN0OLAND/0%0
4HE /PERATIONAL 0ROGRAMME %ASTERN 0OLAND /0
%0 IS NANCED FROM THE %2$& 4HE REASON FOR THE
CONTINUATIONOFTHISPROGRAMMEISTHELACKOFCOM
PETITIVENESSANDINNOVATIVENESSOFTHEVEMOSTDIS
ADVANTAGEDREGIONS,UBELSKIE0ODKARPACKIE0OD
LASKIE WITOKRZYSKIE AND 7ARMISKO -AZURSKIE
4HESE VOIVODSHIPS ARE CHARACTERISED BY LOW WORK
PRODUCTIVITY LOW LIVING STANDARDS A LOW DYNAMIC



Investment incentives
)NACCORDANCEWITHTHESTRATEGICDOCUMENTS/0$0
SHOULDPROVIDESUPPORTINTHREEAREAS
UNIVERSALACCESSTOBROADBAND)NTERNET
CONTENT AND SERVICES AVAILABLE THROUGH THE NET
WORK
DIGITALCOMPETENCEDEVELOPMENT

ANANALYSISOFREQUIREMENTSTOBEMETBYTHEBEN
ECIARYANDTHEPROJECTWHETHERITWOULDBEELIGI
BLEFORCO NANCINGORNOT 
ANANALYSISOFTHETECHNICALANDNANCIALASPECTS
OFTHEPROJECT
2EGARDLESS THE TYPE OF A PROGRAMME ONE HAS TO
TAKETHEFOLLOWINGFACTSINTOCONSIDERATION

2EGIONAL/PERATIONAL0ROGRAMMES
&ORTHE2EGIONAL/PERATIONAL0ROGRAMMESOF
%53TRUCTURAL&UNDSFORTHEk0ERSPECTIVE
HAVEBEENALLOCATED
4HEJUSTICATIONFORTHEPREPARATIONOFTHE2/0S
IS THE DECENTRALISATION OF THE PROGRAMMING OF RE
GIONAL DEVELOPMENT AN INCREASED EFFECTIVENESS OF
THEPROVISIONOFDEVELOPMENTACTIVITIESBYTHEPUBLIC
ADMINISTRATION THE STRENGTHENING OF THE CIVIL AND
SELF GOVERNMENTDIMENSIONSASWELLASTHEEFFECTIVE
USEOFSTRUCTURALMEASURESFORTHEPERIODOF
 BY REGIONS UNDER THE 2EGIONAL /PERATIONAL
0ROGRAMMES
4HEOBJECTIVESOFTHE2/0SAREONTHEONEHANDSET
BY VOIVODSHIPS IN COMPLIANCE WITH REGIONAL DEVEL
OPMENT STRATEGIES WHILE ON THE OTHER HAND THEY
AREALSOCOMPLIANTWITHTHEGOALSOF%52/0!
STRATEGY!LL2/0SHAVEASIMILARSTRUCTUREBUTTHEIR
CONTENTSANDNANCIALRESOURCESARESPECIEDATTHE
REGIONAL LEVEL 4HE NEED TO HARMONISE THE LIST OF
ACTIVITIESIMPLEMENTEDUNDERREGIONALPROGRAMMES
RESULTINGFROMANUMBEROFPREMISESOFWHICHTHE
MOST IMPORTANT IS TO ENSURE THE CONSISTENCY BE
TWEENTHEREGIONALAPPROACHANDGOALSANDPRIORI
TIESOFTHENATIONALAND%UROPEANSTRATEGIESASWELL
ASTAKINGINTOACCOUNTACTIVITIESCONCERNINGSTATEAID
FORTHE3-%SSECTORUNIFORMCRITERIAFORTHEGRANT
INGOFAIDARELAIDDOWNATTHENATIONALLEVEL 
'ENERALRULESFORPROJECTDEVELOPMENT

THENANCINGAUTHORITYWILLNOTASSIGNANYFUNDS
UNTILITISPRESENTEDWITHACOHERENTLOGICALAND
COMPLETEPROJECT
DEVELOPMENT OF A PROJECT REQUIRES CONSIDERABLE
EXPENDITUREOFTIMEANDMONEY
NOTALLPROJECTSWILLBEGRANTEDSUPPORTFAILURETO
MEET THE CRITERIA OR COMPLY WITH THE PROCEDURES
WILLRESULTINPROJECTREJECTION 
THEPROJECTMUSTBEADDRESSEDTOACLEARLYSPECI
EDGROUPOFBENECIARIESANDRESPONDTODOCU
MENTEDNEEDS
THEPROJECTMUSTBEINLINEWITHTHEBENECIARYgS
STATUTORYOBJECTIVESANDINDIVIDUALSTRATEGY
THEPROJECTSHOULDCONTAINADETAILEDTIMETABLEOF
ACTIONS A COST ESTIMATE AS WELL AS A SYSTEM OF
PROMOTIONMONITORINGANDEVALUATION
THEPROJECTCOSTSMUSTBEFAIRLYCALCULATEDBASED
ONTHEACTUALCOSTSINCURREDWITHTHEACCOUNTBE
INGREMOVEDFROMANYUNEXPECTEDCIRCUMSTANCES
A BENECIARY SHOULD ENSURE THE SUSTAINABILITY OF
APROJECTFORAMINIMUMOFVEYEARSORINTHECASE
OF3-%SSMALLANDMEDIUMENTERPRISES AMINIMUM
OFTHREEYEARSFOLLOWINGTHEPROJECTgSCOMPLETION

III.3.2.
Incentives in Special
Economic Zones

"EFOREAPPLYINGFOR%53TRUCTURAL&UNDSTHEFOLLOW
INGKEYISSUESSHOULDBEDENED
THEPROJECTgSOBJECTIVE
THE EXPECTED EFFECT AND BENETS TO BE DERIVED
FROMTHEPROJECT
THESTARTINGANDCLOSINGDATEOFTHEPROJECTASWELL
ASTHEDURATIONOFEACHPROJECTSTAGE
THEPROJECTgSIMPLEMENTATIONPATH
THEPEOPLEINVOLVEDINTHEPROJECT
THECOSTSINVOLVED
THELIMITATIONSANDTHREATSTOPROJECTIMPLEMENTATION
ANANALYSISOFNANCIALSOURCES



!3PECIAL%CONOMIC:ONE3%: ISAPARTICULARAREA
DENEDBYTHELEGALACTSISSUEDBYTHE-INISTRYOF
THE%CONOMYFOREACH3%:3UCHAREASARESPECIALLY
EARMARKED WITH LOCAL INFRASTRUCTURE SUPPORT IN
WHICHBUSINESSACTIVITYCANBECONDUCTEDONPREF
ERENTIAL TERMS CORPORATE INCOME TAX EXEMPTION 
4HEPRIMARYOBJECTIVEOFPROVIDINGPUBLICAIDWITHIN
AN3%:ISTOASSISTINTHEREDUCTIONOFDEVELOPMENT
DISPARITIESBETWEENREGIONSTHEREBYSTRENGTHENING
ECONOMICANDSOCIALCOHESION)NORDERTOOPERATE
WITHINAN3%:ANDBENETFROMTHEAFOREMENTIONED

Investment incentives
EXEMPTIONTHEINVESTORMUSTOBTAINASPECIALPER
MITWHICHISISSUEDBY3%:AUTHORITIES

)N THE 3%: PERMIT THE INVESTOR MUST PROVIDE INVEST

MENTOUTLAYSTHEINTENDEDLEVELOFEMPLOYMENTTHE
DATE OF COMMENCING BUSINESS AND THE DEADLINES FOR
FULLLINGALLOBLIGATIONSMENTIONEDINTHEPERMITWHICH
ISUSUALLYVALIDBYTHEENDOFAGIVEN3%:gSEXISTENCE

3PECIAL%CONOMIC:ONESIN0OLAND

3OPOT
3UPSK

/LSZTYN

)T TAKES BETWEEN THREE AND FOUR MONTHS TO COM

PLETEALLTHEREQUIREMENTSNEEDEDTOOBTAINTHE3%:
PERMITANDTOSTARTBUSINESSACTIVITYENTITLEDTO#)4
EXEMPTION 4HE 3%: MANAGEMENT COLLECTS AN AN
NUALFEEFORADMINISTRATINGTHE3%:

3UWAKI

+OSTRZYN
,EGNICA

+AMIENNA'RA

3TARACHOWICE

7ABRZYCH
+ATOWICE

4ARNOBRZEG
-IELEC

3OURCE0!)I):

4HE MAP ABOVE SHOWS THE MAIN HEADQUARTERS OF

EACH OF THE  3%:S SOURCE 0!)I):  )N ADDITION TO
THESETHEREAREMANYSUBZONESTOHELPTHEINVESTOR
PLACETHEIRPROJECTINTHEMOSTSUITABLELOCATION4HE
COMBINEDAREAOFALLTHE3%:SISCURRENTLYEXCEEDING
HAALTHOUGHTHETOTALAREAOFTHE3%:SCAN
NOTEXCEEDHA
4HECONDITIONSFORCONDUCTINGBUSINESSWITHINTHE
3%:AREASFOLLOWS
INVESTMENTEXPENDITURESHOULDAMOUNTTOATLEAST
%52
THEENTREPRENEURgSOWNSHARESHOULDBEATLEAST
INVESTMENT MUST BE MAINTAINED FOR AT LEAST VE
YEARSFROMTHEINVESTMENTCOMPLETIONDATETHREE
YEARSFOR3-% 
NEWLY CREATED WORKPLACES MUST BE MAINTAINED
FORATLEASTVEYEARSFROMTHEEMPLOYMENTDATE
THREEYEARSFOR3-% 
)NVESTMENT SITES LOCATED CURRENTLY OUTSIDE OF A 3%:
AREA MAY BE INCORPORATED INTO A 3%: UNDER CERTAIN
CONDITIONS4HEINCORPORATIONPROCESSLASTSFROMTO
MONTHSANDISSTARTEDAFTERANINTERESTEDENTERPRE
NEUR SUBMITS AN APPLICATION TO THE RELEVANT 3%: #)4
EXEMPTIONCANBEUTILISEDBYTHETIMELINEOFPERMISSION
ORGIVEN3%:gSEXISTENCECURRENTLYFORTHE
NEWINVESTORS #)4EXEMPTIONISPROVIDEDONLYFORPROF
ITSEARNEDFROMACTIVITIESCONDUCTEDWITHINTHE3%:



III.3.3.
Program for the
support of investments
of considerable
importance for Polish
economy for years
2011-2020
0ROGRAMFORTHESUPPORTOFINVESTMENTSOFCONSIDER
ABLEIMPORTANCEFOR0OLISHECONOMYFORYEARS
WASPASSEDBYTHE#OUNCILOF-INISTERSIN*ULY
ANDPROVIDESEARMARKEDSUBSIDIESFORNEWIN
VESTMENTPROJECTSFROMTHESTATEBUDGET
4HIS SUBSIDY IS GRANTED ON THE BASIS OF AN AGREE
MENT BETWEEN THE INVESTOR AND THE -INISTER OF
%CONOMY "EFORE THE AGREEMENT IS SIGNED EACH
INVESTMENTUDERGOESANASSESMENTPROCESSONTHE
BASIS OF DENED CRITERIA 4HE CASH GRANT SUBSIDY
MAYNOTBECOMBINEDWITHOTHERFORMSOFSUPPORT
ENGAGINGPUBLICAIDSUCHAS3%:EXEMTIONSOR%5
'RANTSUNLESSADDITIONALCRITERIAAREMET
4HEINVESTMENTHASTOBEMAINTAINEDFORATLEAST
YEARSFROMTHEDATEOFITSCOMPLETIONYEARSINTHE
CASE OF 3-%S  AND EACH NEWLY CREATED JOB HAS TO
BEMAINTAINEDFORAPERIODOFATLEASTYEARSFROM
THEDATEOFITSCREATIONYEARSINCASEOF3-%S )N
CENTIVESOFFEREDUNDERTHE0ROGRAMMESTARTINGFROM
*ULY ST  ARE CONSISTENT WITH THE RULES ON THE

Investment incentives
AWARD OF STATE AID IN THE %5 #OMMISSION 2EGULA
TION%# NOOFTH*UNEDECLAR
ING CERTAIN CATEGORIES OF AID COMPATIBLE WITH THE
COMMONMARKETINAPPLICATIONOF!RTICLESAND
OFTHE4REATY/FCIAL*OURNALOFTHE%UROPEAN
#OMMUNITIES,OFTH*UNEPAGE 4HE
AIDTHATDOESNOTCOMPLYWITHTHEREQUIREMENTSOF
THE2EGULATIONMAYBEGRANTEDAFTERAPPROVALBYTHE
%UROPEAN#OMMISSIONACCORDINGTOTHEPROCEDURES
SPECIEDINTHE'UIDELINESONREGIONAL3TATEAIDFOR
 /FCIAL*OURNALOFTHE%UROPEAN#OM
MUNITIES#OFRD*ULYPAGE 

AVIATIONSECTOR
BIOTECHNOLOGYSECTOR
FOODPROCESSINGSECTOR
MODERNSERVICESSECTOR
RESEARCHANDDEVELOPMENT2$ 
'RANTSWILLBEAWARDEDBYTHE-INISTRYOF%CONOMYAND
WILLBEPAYABLEINANNUALTRANCHESFORUPTOVEYEARS

III.3.4. Real estate tax

exemption

4HE SYSTEM FOCUSES ON SUPPORTING FOREIGN DIRECT

INVESTMENTINSECTORShOFPARTICULARIMPORTANCETO
THENATIONALECONOMYiWHICHINCLUDE
2EAL %STATE 4AX %XEMPTION IS A FORM OF REGIONAL
STATE AID )T IS AVAILABLE IN #OMMUNES WHICH HAVE
ADOPTED RESOLUTIONS CONCERNING THE POSSIBILITY OF
EXEMPTIONFROMREALESTATETAX

AUTOMOTIVESECTOR
ELECTRONICANDHOUSEHOLDAPPLIANCESSECTOR

3UPPORTFORNEWINVESTMENTINVESTMENTGRANT

3ECTOR

.EWJOBS

AUTOMOTIVEELECTRONICSANDHOUSEHOLD
APPLIANCESAVIATIONBIOTECHNOLOGY
FOODPROCESSING

SIGNICANTINVESTMENTINOTHERSECTORS
2$

AND

%LIGIBLECOSTSOFTHE
!MOUNTOFAID
NEWINVESTMENT
OFELIGIBLECOSTS
M0,.





k





k





k





UPTO

!IDISNOTGRANTEDIFUNEMPLOYMENTRATEINLOCATIONPOVIAT ISBELOWOFTHENATIONALAVERAGEUNLESS%ASTERN0OLAND

EXTRAPPFORINVESTMENTSIN%ASTERN0OLAND

EXCLUDINGOFCESPACERENTALCOSTS

3UPPORTFORCREATIONOFNEWJOBPLACESEMPLOYMENTGRANT

3ECTOR

.EWJOBS

AND

%LIGIBLECOSTSOFTHE
!MOUNTOFAID
NEWINVESTMENT
PERONEJOB0,.
M0,.

AUTOMOTIVEELECTRONICSANDHOUSEHOLD
APPLIANCESAVIATIONBIOTECHNOLOGY
FOODPROCESSING





MODERNSERVICES





2$
SIGNICANTINVESTMENTINOTHERSECTORS











FROMTO
^%52
k%52


!IDISNOTGRANTEDIFUNEMPLOYMENTRATEINADISTRICTPOVIAT ISBELOWOFTHENATIONALAVERAGEUNLESS%ASTERN0OLAND

EXTRAFORINVESTMENTSIN%ASTERN0OLAND

EXCLUDINGOFCESPACERENTALCOSTS



Investment incentives
4HEMAXIMUMTAXRATESFORENTREPRENEURSIN
FOR THE SUBJECT OF TAXATION IN REAL ESTATE TAX AND
RELATED TO BUSINESS ACTIVITY ARE  0,.M FOR
BUILDINGS0,.MFORLANDANDOFTHEINI
TIALVALUEFORTHESTRUCTURES
)N EACH COMMUNE THE TAX RATES ARE SET BY LOCAL
AUTHORITIESHOWEVERTHEYCANNOTEXCEEDTHEMAXI
MUMAMOUNTSASSETFORTHABOVE
4HEREGIONALSTATEAIDINTHISFORMISRELATEDTOTHE
NEWINVESTMENTORNEWWORKPLACESCREATEDASTHE
CONSEQUENCEOFTHENEWINVESTMENT 

III.3.5. Labour market

instruments
)NORDERTOHIREUNEMPLOYEDPEOPLECOMPANIESMAY
APPROACH THE LOCAL ,ABOUR /FCE WHICH CAN SUP
PORTENTREPRENEURSUSINGVARIOUSLABOURMARKETIN
STRUMENTS4HEMAINFORMSOFASSISTANCEINCLUDETHE
FOLLOWINGMEASURES
!SSISTANCEINTHEPROCESSOFRECRUITINGEMPLOYEES
WITH REQUIRED QUALICATIONS k 4HIS ASSISTANCE CAN
BEGIVENONVARIOUSLEVELS)NITIALLYTHE,ABOUR/F
CECOLLECTSANDDISSEMINATESJOBADVERTISEMENTS
!FTERWARDS IT PROVIDES ENTREPRENEURS WITH INFOR
MATIONABOUTPOTENTIALCANDIDATES3UBSEQUENTLY
,ABOUR /FCE ORGANISES MEETINGS FOR EMPLOYERS
ANDTHEUNEMPLOYEDWHOFULLLDESIGNEDREQUIRE
MENTS -OREOVER THE ,ABOUR /FCE ORGANISES
VARIOUS EVENTS IN WHICH BOTH k THE UNEMPLOYED
ANDTHEEMPLOYERSAREFREETOPARTICIPATESUCHAS
CAREEREXPOORLABOUREXCHANGES!SSISTANCEINTHE
PROCESSOFRECRUITMENTISALSOCARRIEDOUTBYCAREER
CONSULTINGSERVICESWHICHAREPROVIDEDINORDERTO
DENE THE PROLE OF CANDIDATES OR JOB ADVERTISE
MENTS7HATNEEDSTOBEPOINTEDOUTISTHATTHE
,ABOUR /FCE IS USUALLY INFORMED ABOUT THE CUR
RENTSITUATIONONTHELOCALLABOURMARKETASWELLAS
ABOUTPLANNEDCHANGESTOTHELOCALLABOURMARKET
)NTERVENTIONWORKSk4HISKINDOFPROGRAMPRO
VIDES SUBSIDISED JOBS TO UNEMPLOYED PEOPLE
BASEDONANAGREEMENTBETWEENTHE,ABOUR/F
CEANDANEMPLOYER4HEPROGRAMISTARGETEDAT
UNEMPLOYED PEOPLE WHO ARE IN PARTICULARLY DIF
CULTSITUATIONONTHELABOURMARKET4HE,ABOUR



/FCEREIMBURSESPARTOFTHEWAGECOSTSOFPEO
PLE HIRED UNDER SUCH A PROGRAM TO EMPLOYERS
4HEDURATIONOFTHISSCHEMEANDTHEAMOUNTRE
IMBURSEDDEPENDSONTHETARGETGROUP$EPEND
INGONTHEDECISIONOFTHEDISTRICT,ABOUR/FCE
INTERVENTIONWORKSCANTAKEUPTOAND
 MONTHSOREVENUPTOYEARS
2EFUNDOFCOSTSINCURREDFORPREPARATIONSOFNEW
WORKPLACEFORANUNEMPLOYEDPERSONkTHE,ABOUR
/FCEMAYREIMBURSETHECOSTSINCURREDBYANEN
TREPRENEURFORTHEEQUIPMENTORRETROTTINGNEWLY
CREATEDWORKPLACEFORITSTARGETEDUNEMPLOYED2E
FUNDCONCERNSALLORPARTIALCOSTSOFCREATINGANEW
WORKPLACEINCLUDINGCOSTSOFSUITABLEASSETSEQUIP
MENTLICENSEPROGRAMSETC FORUPTOkTIMESTHE
AVERAGEWAGEPERONEWORKPLACECREATED)THASTO
BENOTEDTHATPREVIOUSLYUNEMPLOYEDPERSONHAVE
TOBEEMPLOYEDONTHENEWLYCREATEDWORKPLACEFOR
APERIODOFMINIMUMMONTHS
/NTHEJOBTRAININGk"ASEDONTHISPROGRAMTHE
EMPLOYER MAY APPLY FOR A JOB TRAINING ORGANISA
TIONINWHICHTHE,ABOUR/FCEDELEGATESAPERSON
FOR JOB TRAINING WITHOUT THE EMPLOYER HAVING TO
CONCLUDE AN EMPLOYMENT CONTRACT WITH THIS PER
SON (OWEVER THE EMPLOYER HAS TO ENTER INTO AN
AGREEMENT WITH THE PREFECT OF THE DISTRICT 3UCH
AWORKEXPERIENCELASTSFORAPERIODOFAMINIMUM
 MONTHSUPTO MONTHSMAXIMUM7HILELLING
INANAPPLICATIONFORMTHEEMPLOYERMAYINDICATE
THEEXACTPERSONWHOMSHEWISHESTOHAVETRAINED
4HESELECTEDPERSONISNOTBEINGPAIDBYTHEEM
PLOYERYETRECEIVESASCHOLARSHIPFROMTHEPREFECTOF
THEDISTRICT#ONSECUTIVELYTOTHEENDOFTHETRAINING
PERIOD THE EMPLOYER IS FREE TO ENTER INTO AN EM
PLOYMENTAGREEMENTWITHSELECTEDCANDIDATES
&INANCIAL SUPPORT FOR TRAINING PROGRAMMES FOR
ALL POTENTIAL EMPLOYEES WHO MAY ACQUIRE NEW
QUALICATIONSORVOCATIONALSKILLSTHROUGHPRACTICAL
WORKPERFORMANCEATAGIVENPOST
4HEREIMBURSEMENTOFSOCIALSECURITYCONTRIBUTIONSIN
THECASEOFTHEEMPLOYMENTOFANUNEMPLOYEDPER
SONDELEGATEDBYTHE,ABOUR/FCE4HEREIMBURSE
MENTOFSOCIALSECURITYCONTRIBUTIONSISUPTO
OFTHEMINIMUMMONTHLYSALARYIN0OLANDISBASED
ONTHECONTRACTCONCLUDEDBETWEENTHEPREFECTAND
THEEMPLOYER4HEAMOUNTCANBEREIMBURSEDONLY
AFTERTHEFULLMENTOFTWOCONDITIONSTHATTHEPER
SONDELEGATEDBYTHE,ABOUR/FCEISEMPLOYEDIN
AFULL TIMEPOSITIONWITHINTHENEXTMONTHSAND
THATTHEEMPLOYEEISSTILLEMPLOYEDAFTERTHISTIME

Investment incentives
6OCATIONALTRAININGOFADULTSkISANINSTRUMENTOF
MOBILIZATION IN THE FORM OF A A PRACTICAL TRAINING
LASTINGFROMUPTOMONTHSORB APPRENTICE
SHIPTRAININGWHICHLASTSFROMTOMONTHS4RAINING
COURSESARECARRIEDOUTWITHOUTHAVINGTOCONCLUDE
ANEMPLOYMENTCONTRACTWITHTHEEMPLOYERONTHE
BASISOFANAGREEMENTBETWEENTHEEMPLOYERAND
THEPREFECT4RAININGISBASEDONAPROGRAMINVOLVING
ACQUISITIONOFPRACTICALSKILLSANDTHEORETICALKNOWL
EDGE AND IT ENDS WITH AN EXAM %MPLOYERS INTER
ESTEDINCREATINGAPLACEOFADULTVOCATIONALTRAINING
SHALLLEAMOTIONINTHERELEVANT,ABOR/FCE4HE
EMPLOYER MAY RECEIVE REIMBURSEMENT OF EXPENSES
INCURRED FOR EACH PARTICIPANT IN THE AMOUNT SPECI
EDINTHECONTRACTUPTOAMAXIMUMOFOFTHE
AVERAGESALARYFOREACHFULLMONTHOFTHEPROGRAM
-OREOVERTHEEMPLOYERMAYBEGRANTEDAONE TIME
BONUSFOREACHFULLMONTHOFADULTVOCATIONALTRAIN
INGOFEACHPARTICIPANTIFTHATPERSONCOMPLETESTHE
PROGRAMWITHASUCCESSFULLYPASSEDEXAM
)TSHOULDBENOTEDTHAT,ABOUR/FCEALSOOFFERS
APARTICULARSUPPORTFOREMPLOYERSOFPEOPLEWITH
DISABILITIES SUCH AS REIMBURSEMENT OF COSTS OF
HIRINGADISABLEDPERSONREIMBURSEMENTOFCOSTS
OFTRAININGDISABLEDEMPLOYEESREIMBURSEMENTOF
WORKPLACEEQUIPMENTDEVELOPEDFORTHEDISABLED
REIMBURSEMENT OF COSTS INCURRED FOR ADAPTATION
OFBUILDINGSANDEQUIPMENTASWELLASFORSPECIAL
PURCHASEOFEQUIPMENTANDSOFTWARE
%NTREPRENEURS INTERESTED IN GAINING SUPPORT FROM
LABOUR AUTHORITIES SHOULD CONTACT THE APPROPRIATE
,ABOUR/FCEPREPAREANDSUBMITTHEAPPLICATION
REQUIREDASWELLASTHEAPPROPRIATEANDDOCUMEN
TATIONDEPENDINGONTHETYPEOFSUPPORTREQUIRED

III.3.6.
OECD guidelines
for multinational
enterprises
/%#$'UIDELINESFOR-ULTINATIONAL%NTERPRISESAREAN
ANNEX TO THE /%#$ $ECLARATION ON )NTERNATIONAL )N
VESTMENTAND-ULTINATIONAL%NTERPRISES4HEYCONTAIN
RECOMMENDATIONSPROVIDINGVOLUNTARYPRINCIPLESAND
STANDARDSFORRESPONSIBLEBUSINESSCONDUCTFORMULTI
NATIONALCORPORATIONSOPERATINGINORFROMCOUNTRIES



ADHEREDTOINTHEDECLARATION4HEGUIDELINESARELE
GALLY NON BINDING 4HE BUSINESS COMMUNITY LABOUR
REPRESENTATIVES AND NON GOVERNMENTAL ORGANISATIONS
WERE ALL ENGAGED IN THE DEVELOPING OF THESE GUIDE
LINES!DENITIONOFMULTINATIONALENTERPRISESUSUALLY
COMPRISESCOMPANIESOROTHERENTITIESESTABLISHEDIN
MORETHANONECOUNTRYANDSOLINKEDTHATTHEYMIGHT
COORDINATETHEIROPERATIONSINVARIOUSWAYS
4HEGUIDELINESCOVERBUSINESSETHICSONEMPLOYMENT
HUMANRIGHTSTHEENVIRONMENTINFORMATIONDISCLO
SURECOMBATINGBRIBERYCONSUMERINTERESTSSCIENCE
ANDTECHNOLOGYASWELLASCOMPETITIONANDTAXATION
!CCORDING TO THE /%#$ #OUNCIL EACH ADHER
ING COUNTRY MUST SET UP A .ATIONAL #ONTACT 0OINT
.#0  4HE .#0 IS AN ENTITY RESPONSIBLE FOR THE
PROMOTIONOFTHEGUIDELINESONANATIONALLEVEL!N
.#0HANDLESALLENQUIRIESANDMATTERSRELATEDTOTHE
GUIDELINESINTHATSPECICCOUNTRYINCLUDINGINVES
TIGATINGCOMPLAINTSABOUTACOMPANYOPERATINGIN
OR WHOSE HEADQUARTERS ARE BASED IN THAT COUNTRY
4HE 0OLISH /%#$ .#0 IS LOCATED AT THE 0OLISH )N
FORMATION AND &OREIGN )NVESTMENT !GENCY 0OLSKA
!GENCJA)NFORMACJII)NWESTYCJI:AGRANICZNYCH3! 
4HE GUIDELINES CONTAIN AMONG OTHER THINGS THE
FOLLOWINGRULES
ENTERPRISESSHOULDRESPECTTHERIGHTSOFTHEIREM
PLOYEES TO BE REPRESENTED BY TRADE UNIONS AND
OTHER BONA DE REPRESENTATIVES OF EMPLOYEES
AND ENGAGE IN CONSTRUCTIVE NEGOTIATIONS EITHER
INDIVIDUALLY OR THROUGH EMPLOYERSg ASSOCIATIONS
WITHSUCHREPRESENTATIVESWITHAVIEWTOREACHING
AGREEMENTSONEMPLOYMENTCONDITIONS
ENTERPRISESSHOULDWITHINTHEFRAMEWORKOFLAWS
REGULATIONS AND ADMINISTRATIVE PRACTICES IN THE
COUNTRIESINWHICHTHEYOPERATEANDINCONSIDERA
TIONOFRELEVANTINTERNATIONALAGREEMENTSPRINCI
PLESOBJECTIVESANDSTANDARDSTAKEDUEACCOUNT
OF THE NEED TO PROTECT THE ENVIRONMENT PUBLIC
HEALTHANDSAFETYANDGENERALLYTOCONDUCTTHEIR
ACTIVITIES IN A MANNER CONTRIBUTING TO THE WIDER
GOALOFSUSTAINABLEDEVELOPMENT
 ENTERPRISES SHOULD NOT DIRECTLY OR INDIRECTLY OFFER
PROMISE GIVE OR DEMAND A BRIBE OR OTHER UNDUE
ADVANTAGETOOBTAINORRETAINBUSINESSOROTHERIM
PROPERADVANTAGE
WHENDEALINGWITHCONSUMERSENTERPRISESSHOULD
ACT IN ACCORDANCE WITH FAIR BUSINESS MARKETING
ANDADVERTISINGPRACTICESANDSHOULDTAKEALLREA
SONABLESTEPSTOENSURETHESAFETYANDQUALITYOF
THEGOODSORSERVICESTHEYPROVIDE

witokrzyski Bridge
in Warszawa



III.4.

Accounting & finance

III.4.1.
Accounting and
financial regulations

)N SITUATIONS WHICH ARE NOT REGULATED BY THE !C

COUNTING,AWPROPERSTANDARDSCANBEUSED

4HE 0OLISH ACCOUNTING REGULATIONS ARE VERY SIMILAR

TOOTHERSYSTEMSANDARECONSTANTLYBEINGSYNCHRO
NISEDWITHTHE)NTERNATIONAL!CCOUNTING3TANDARDS
AND%5REGULATIONSTOMAKETHEMCOMPARABLE

!LSOTHEREISANALLOWANCEFORASPECIEDGROUPOF
COMPANIESTODOSOACCORDINGTO)NTERNATIONAL&I
NANCIAL 2EPORTING 3TANDARDS #OMPANIES LISTED ON
THE7ARSAW3TOCK%XCHANGEAREOBLIGEDTOPREPARE
CONSOLIDATED NANCIAL STATEMENTS IN ACCORDANCE
WITH )NTERNATIONAL &INANCIAL 2EPORTING 3TANDARDS
&URTHERMORE THE SUBSIDIARIES OF SUCH COMPANIES
MAYCHOOSENANCIALSTATEMENTSINACCORDANCEWITH
%5AND)NTERNATIONAL&INANCIAL2EPORTING3TANDARDS
IFTHEYPREFER

,AW2EGULATIONS
!CCOUNTINGFACTS
0OLISH ACCOUNTANCY LAW IS CONSTITUTED BY THE !C
COUNTANCY !CT OF TH 3EPTEMBER  AND THE
0OLISH 'ENERALLY !CCEPTED !CCOUNTING 0RINCIPLES k
'!!0 WHICH SO FAR CONSTITUTES SEVEN STANDARDS 
4HEPROVISIONSOFTHE!CCOUNTING,AWAPPLYTOTHE
ENTITIESWHOSEREGISTEREDOFCESORPLACEOFEXECU
TIVE MANAGEMENT ARE LOCATED IN 0OLAND 4HE !CT
ENUMERATES FOREIGN PEOPLE FOREIGN COMPANIES
OPERATINGTHROUGHBRANCHOFCESORREGISTEREDSUB
SIDIARIESOBLIGINGTHEMTOMAINTAINFULLACCOUNTING
RECORDSINCOMPLIANCEWITH0OLISHLAW
4HE!CCOUNTING!CTDOESNOTDIFFERCONSIDERABLYFROM
)NTERNATIONAL &INANCIAL 2EPORTING 3TANDARDS WHICH
WERE ADOPTED BY THE %5 AND ARE HARMONISED WITH
REGULATIONSRESULTINGFROM%5$IRECTIVES4HEAMEND
MENT DATED -ARCH  IMPLEMENTED REGULATIONS
FROMTHE7%%5$IRECTIVE!MONGSTOTHERS
THINGS IT IS CONCERNED WITH CONSOLIDATING NANCIAL
STATEMENTSANDEXTENDSTOASCOPEOFOBLIGATORYDIS
CLOSURESPRESENTEDINSTATEMENTS)TALSOINTRODUCEDTO
THEMANAGEMENTOFTHEENTITIESTHERESPONSIBILITYTO
PREPAREANDPUBLISHTHEIRNANCIALRESULTS



!CCOUNTINGRECORDSMUSTBEMAINTAINEDINBOTHTHE
0OLISHLANGUAGEANDCURRENCY!MOUNTSDENOMINAT
ED IN FOREIGN CURRENCIES ARE CONVERTED INTO 0OLISH
CURRENCY AT THE AVERAGE EXCHANGE RATE SET BY THE
.ATIONAL"ANKOF0OLAND)NGENERALALLACCOUNTING
DOCUMENTS SHOULD BE IN 0OLISH APART FROM SOURCE
DOCUMENTSTHOUGHITSHOULDBEREMEMBEREDTHAT
THESESHOULDBETRANSLATEDINTO0OLISHATTHEBEHEST
OFTHETAXAUTHORITIESANDAUDITORS
4HEACCOUNTINGPERIODLASTS MONTHSANDISUSU
ALLYTHESAMEASAFULLCALENDARYEAR/FCOURSETHE
COMPANY MAY CHOOSE DIFFERENT DATES BUT THE 4AX
!UTHORITIES MUST BE INFORMED ABOUT THIS CHANGE
"OOKKEEPINGCANBEDONEINTERNALLYBYAQUALIED
EMPLOYEE OR EXTERNALLY BY AN ACCOUNTING OFCE
$OCUMENTSANDACCOUNTINGBOOKSMUSTBEKEPTIN
THECOMPANYgSHEADOFCEASWELLASINANACCOUNT
INGOFCE$OCUMENTSFOREACHYEARMUSTBEKEPT
FORVEYEARSPAYROLLDOCUMENTATIONSFORLONGERPE
RIODANDNANCIALSTATEMENTSPERMANENTLY

Accounting & finance

4HE RESPONSIBILITY FOR FULLLING THESE OBLIGATIONS IN
THE ELD OF ACCOUNTING FALLS ENTIRELY ON THE -AN
AGEROFACOMPANY4HESCOPEOFTHISRESPONSIBILITY
WASEXTENDEDANDEMPHASISEDINTHEIMPLEMENTED
REGULATIONSOFTHE7%%5$IRECTIVE
%NTITIESAREREQUIREDTOAPPLYALLACCOUNTINGPRINCI
PLES INCLUDED IN THE !CCOUNTING ,AW TO TRULY AND
FAIRLY PRESENT THEIR NANCIAL POSITION AND NANCIAL
RESULTS 4HE ECONOMIC SUBSTANCE OF TRANSACTION IS
A BASE FOR RECOGNISING EVENTS INCLUDING BUSINESS
TRANSACTIONSINTHEBOOKSOFACCOUNTSANDAPRES
ENTATIONINTHENANCIALSTATEMENTS4HECOMPANY
CANAPPLYSOMESIMPLICATIONSWITHINITSACCOUNTING
PRINCIPLESPROVIDEDTHATITHASNOSIGNICANTNEGA
TIVE IMPACT ON THE PRESENTATION OF THEIR NANCIAL
POSITIONANDITSNANCIALRESULTS

III.4.2.
Financial statements

TITIESWHICHAREASUBJECTTOANNUALAUDITSALSOPRE
PAREASTATEMENTOFCHANGESINEQUITIESANDACASH
OWSTATEMENT&ORNANCIALSTATEMENTSANANNUAL
REPORTOFCOMPANYACTIVITYSHOULDBEINCLUDED4HE
REPORTCOVERSINFORMATIONABOUTEVENTSHAVINGSIG
NICANT INUENCE ON COMPANYgS ACTIVITY AND ALSO
PRESENTS THE COMPANYgS ACHIEVEMENTS AND PROJEC
TIONS!LLDOCUMENTSMUSTBEPREPAREDINBOTHTHE
0OLISHLANGUAGEANDCURRENCY
4HEENTITYgSMANAGERENSURESTHEPREPARATIONOFTHE
NANCIALSTATEMENTSWITHINTHREEMONTHSFROMTHE
DATEOFTHEBALANCESHEETASWELLASITSPRESENTATION
TOTHERELEVANTAUTHORITIES
4HE APPROVAL OF THE STATEMENTS SHALL TAKE PLACE
WITHIN SIX MONTHS AFTER THE DATE OF THE BALANCE
SHEET

III.4.3.
Audit and publication

%NTITIESSHALLPREPARETHENANCIALSTATEMENTONTHE
LAST DAY OF THE NANCIAL YEAR REFERRED TO IN ARTICLE
PARAGRAPHOFTHE!CCOUNTING,AW0RINCIPLES
FORTHEMEASUREMENTOFASSETSLIABILITIESANDEQUITY
ANDTHEDETERMINATIONOFTHENANCIALRESULTSHOULD
BEAPPLIEDRESPECTIVELYASSPECIEDINCHAPTEROF
THE!CCOUNTING,AW
)SSUERSOFSECURITIESADMITTEDTOORINTENDINGTOLE
FORADMISSIONTOORISSUERSOFSECURITIESPENDINGAD
MISSIONTOTRADINGINONEOFTHEREGULATEDMARKETS
OFTHE%UROPEAN%CONOMIC!REAMAYPREPARETHEIR
NANCIAL STATEMENTS IN ACCORDANCE WITH )NTERNA
TIONAL&INANCIAL2EPORTING3TANDARDS
!NOTHER GROUP OF COMPANIES ALLOWED TO USE THE
)NTERNATIONAL &INANCIAL 2EPORTING 3TANDARDS REGU
LATIONS ARE ENTITIES WHICH ARE MEMBERS OF CAPITAL
GROUPSINWHICHAPARENTCOMPANYPREPARESCON
SOLIDATED NANCIAL STATEMENTS UNDER )NTERNATIONAL
&INANCIAL2EPORTING3TANDARDS
4HESEDECISIONSCANBEMADEONLYBYTHEAPPROVING
BODYOFSUCHCOMPANIES
&INANCIAL STATEMENTS CONSIST OF A BALANCE SHEET
APROTANDLOSSACCOUNTANINTRODUCTIONTOTHE
NANCIALSTATEMENTSANDNOTESANDEXPLANATIONS%N



4HE OBLIGATION OF AUDITING AND THE PUBLISHING OF

THENANCIALSTATEMENTREFERSTOCONSOLIDATEDSTATE
MENTS OF CAPITAL GROUPS JOINT STOCK COMPANIES
BANKS INSURERS AND ENTITIES WHICH OPERATE ON THE
BASISOFREGULATIONONTRADINGINSECURITIESANDREGU
LATIONSONINVESTMENTFUNDSORPENSIONFUNDS
/THERCOMPANIESAREOBLIGEDTOBEAUDITEDIFTHEY
HAVEMETATLEASTTWOORTHREEOFTHEFOLLOWINGCON
DITIONSDURINGORPRECEDINGTHEACCOUNTINGYEAR
THEAVERAGENUMBEROFEMPLOYEESCONVERTEDINTO
FULL TIMEEMPLOYMENTISEQUIVALENTTOATLEAST
PEOPLE
THE TOTAL ASSETS AS AT THE END OF THE NANCIAL
YEAR WERE AT LEAST THE 0OLISH ZLOTY EQUIVALENT OF
MILLION%52
THENETREVENUEFROMTHESALESOFGOODSFORRESALE
ANDNISHEDGOODSANDTHENANCIALTRANSACTIONS
FORTHENANCIALYEARWASATLEASTTHE0OLISHZLOTY
EQUIVALENTOFMILLION%52
4HE AIM OF THE AUDIT IS EXPRESSION BY A STATUTORY
AUDITORWITHAWRITTENOPINION4HEAUDITCONTAINS
A REPORT ON WHETHER THE NANCIAL STATEMENTS ARE
CORRECT AND WHETHER THEY GIVE A TRUE FAIR REPRE

Accounting & finance

SENTATIONOFTHEPROPERTYNANCIALPOSITIONANDTHE
NANCIALRESULTOFTHEAUDITEDENTITY
3OME ENTITIES THAT MAINTAIN THEIR ACCOUNTING
RECORDSANDUNDERGOAMANDATORYAUDITOFANNUAL
NANCIALSTATEMENTSAREREQUIREDTOPUBLISHTHEIR
NANCIALSTATEMENTS
0OLISH ACCOUNTING ,AW IS OFTEN CHANGING DUE TO
THEAPPLICATIONOFSOLUTIONSFROMTHE)NTERNATIONAL
&INANCIAL 2EPORTING 3TANDARDS AND %5 ACCOUNTING
REGULATIONS



4HE AIM OF THE IMPLEMENTATION OF THESE INTERNA

TIONALREGULATIONSISTOEQUALISETHECOMPETITIVENESS
OF ENTERPRISES 4HE HARMONISATION OF ACCOUNTING
REGULATIONS WILL HAVE AN EFFECT ON INCREASING THE
QUALITY AND COMPARABILITY OF INFORMATION GIVEN BY
THE COMPANIES )T ALSO EFFECTS THE IMPROVEMENT IN
THERELIABILITYOFNANCIALDATAINFRONTOFBUSINESS
PARTNERSANDNANCIALINSTITUTIONS



III.5.

Employment
legislation
III.5.1.
Employment of
workers

SPECIALPROTECTIONOFSOMEEMPLOYEESgGROUPS
PROCEDUREOFTERMINATIONOFEMPLOYMENT
4HE,ABOUR#ODELISTSVARIOUSFORMSOFEMPLOYMENT
CONTRACT

%VERYINVESTORWHOWISHESTOSTARTANDDEVELOPTHEIR
BUSINESS ACTIVITY IN 0OLAND MUST TAKE INTO ACCOUNT
THE EMPLOYMENT OF WORKERS 0OLISH LAW DESCRIBES
AND REGULATES VARIOUS POSSIBILITIES OF EMPLOYMENT
4HEMAINLEGALFORMOFEMPLOYMENTISTHEEMPLOY
MENT RELATIONSHIP REGULATED BY THE 0OLISH ,ABOUR
#ODE FROM  *UNE  4HE EMPLOYMENT RELA
TIONSHIP IS CONNECTED WITH THE SYSTEM OF GUARAN
TEES AND RIGHTS OF EMPLOYEES )N ACCORDANCE WITH
THE,ABOUR#ODETHEEMPLOYEEHASARIGHTTO
RECEIVETHEREMUNERATIONFORHISWORKTHENAN
CIAL CONDITIONS OF WHICH ARE DENED IN THE EM
PLOYMENTAGREEMENTANDTHEEMPLOYERISOBLIGED
TOPAYITREGULARLYTOANEMPLOYEE4HEEMPLOYEE
MAYNOTEARNLESSTHANTHEMINIMUMMONTHLYRE
MUNERATIONWHICHINIS0,.GROSS
FORFULL TIMEWORK!SOF*ANUARYTHEMINI
MUM MONTHLY SALARY WILL BE INCREASED AND WILL
AMOUNTTO0,.GROSS
USETHEIRHOLIDAYLEAVETIME4HEEMPLOYEEHAS
THE RIGHT TO AN ANNUAL PAID LEAVE THE LENGTH OF
WHICH DEPENDS ON THEIR SENIORITY BUT IN GENERAL
EVERYEMPLOYEEISENTITLEDTOORDAYSOFPAID
ANNUALLEAVE4HEEMPLOYEEISNOTALLOWEDTORE
NOUNCETHEIRLEAVEANDTHEEMPLOYERISOBLIGEDTO
PAYTHEEQUIVALENTTOANEMPLOYEEFORUNUSED
LEAVE
RECEIVESICKNESSALLOWANCE
WORKINGTIMERULES



FOR A PROBATION PERIOD k 4HIS KIND OF CONTRACT

MAY BE CONCLUDED ONLY ONCE BETWEEN A GIVEN
EMPLOYEE AND EMPLOYER )TS PURPOSE IS TO CHECK
THEEMPLOYEEgSSUITABILITYTOPERFORMDUTIESFORAN
EXTENDEDPERIODOFTIME4HETRIALPERIODSHALLNOT
EXCEEDTHREEMONTHS
FORAXEDPERIODk4HISKINDOFCONTRACTISDENED
BYASPECIEDDATE4HEAPPLICABLELAWDOESNOT
REGULATETHEMAXIMUMDURATIONOFSUCHANAGREE
MENTBUTTERMSOFTHECONTRACTSHOULDBEREASON
ABLE(OWEVERTHEREISALIMITTOTHENUMBEROF
SUCHCONTRACTSWHICHCANBECONCLUDEDWITHONE
EMPLOYEE )N ACCORDANCE WITH 0OLISH LAW A PER
MANENT EMPLOYMENT CONTRACT MUST FOLLOW AFTER
TWOCONSECUTIVECONTRACTSFORAXEDPERIOD
FORANINDENITEPERIOD
FORAPERIODOFABSENCEOFANOTHEREMPLOYEEIE
AREPLACEMENTEMPLOYMENTCONTRACT 
4HE EMPLOYMENT CONTRACT MUST DENE PARTIES
STIPULATE WORKING HOURS NANCIAL CONDITIONS TYPE
OFWORKANDPLACEOFITSPERFORMANCE-OREOVERIT
SHOULD BE CONCLUDED IN WRITING ! SIDES FROM THE
EMPLOYMENTCONTRACTTHEEMPLOYEESHOULDRECEIVE
FROMTHEEMPLOYERAWRITTENINFORMATIONCONCERN
ING THE EMPLOYMENT WITHIN  DAYS COUNTING FROM
THEDAYWHENTHEWORKHASSTARTED4HEEMPLOYEE
ISOBLIGEDTOPERFORMWORKINTHEHOURSSPECIEDIN
THECONTRACTASWELLASTOCARRYOUTTHEINSTRUCTIONS
OF THEIR SUPERVISORS AND ACT IN THE BEST INTEREST OF
THEEMPLOYER
!PARTFROMTHEEMPLOYMENTRELATIONSHIPREGULATED
BYTHE,ABOUR#ODETHEREAREOTHERFORMSOFEM

Employment legislation
PLOYMENTBASEDONTHE#IVIL#ODEkKNOWNASCIVIL
LAW CONTRACTS 4HESE CONTRACTS GIVE MORE LATITUDE
INFORMULATINGTHECONTENTOFLEGALRELATIONSHIPBE
TWEENTHEPARTIESWITHOUTANYMINIMALGUARANTIES
WHICHRESULTFROMTHE,ABOUR#ODE4HEPARTIESMAY
DECIDEONSUCHMATTERSASTHEAMOUNTOFREMUNERA
TIONORWORKINGTIMEBECAUSETHESEFACTORSARENOT
REGULATED BY THE #IVIL #ODE 4HE MOST COMMON
CONTRACTSUNDERTHE#IVIL#ODEAREASFOLLOWS
4ASKCONTRACTkTHISKINDOFCONTRACTISALSOCALLED
AS AGREEMENT OF RESULT 4HE EMPLOYEE RECEIVES
DENEDTASKSWHICHMUSTBECARRIEDOUTINORDER
TO ACHIEVE SPECIED RESULTS AND THE EMPLOYER IS
OBLIGED TO PAY THE SALARY FOR THE REALISATION OF
TASKSACCORDINGTOTHEPROVISIONSSTIPULATEDINTHE
CONTRACT
3ERVICECONTRACTkBASEDONTHECONTRACTTHEEM
PLOYEERECEIVESDENEDTASKSANDACTIVITIESWHICH
MUSTBEREALISEDBYTHEEMPLOYER4HEEMPLOYEE
PERFORMSTHEWORKBYHIMSELFBECAUSETHEREISNO
SUBORDINATIONORWORKPERFORMANCEUNDERSOME
ONEgSMANAGEMENTWHICHISCHARACTERISTICOFAN
EMPLOYMENTCONTRACT
4HECONTRACTEXPIRESAUTOMATICALLYWITHTHEENDOF
THETERMORWHENAGIVENTASKORACTIVITYHASBEEN
COMPLETED!NEMPLOYMENTAGREEMENTMAYBETER
MINATEDUPONAMUTUALAGREEMENTOFBOTHPARTIES
ATANYTIMEANDREGARDLESSOFTHETYPEOFCONTRACT 
BYONEOFTHEPARTIESUPONPRIORNOTICEATTHEEND
OFASPECIEDNOTICEPERIOD ORBYONEOFTHEPAR
TIESWITHOUTPRIORNOTICEIFASERIOUSBREACHONTHE
SIDEOFTHEOTHERPARTYOCCURSORIFEMPLOYMENTCAN
NOT BE CONTINUED FOR CERTAIN REASONS  4HE NOTICE
PERIODDEPENDSONTHETYPEOFCONTRACTCONCLUDED
BY THE PARTIES AND THE ACTUAL DURATION OF THE EM
PLOYMENT7HILECHOOSINGWHICHAGREEMENTTOCON
CLUDEWITHANEMPLOYEETHEEMPLOYERSHOULDBEAR
INMINDTHATALEGALRELATIONSHIPINWHICHTHEREARE
ELEMENTS OF THE EMPLOYMENT RELATIONSHIP CAN NOT
BEREGULATEDBYACIVILLAWCONTRACT

)N GENERAL THERE ARE MANY EXEMPTIONS IN 0OLISH

LAW FOREIGNERSWHOAREGOINGTOPERFORMWORKIN
0OLAND ARE OBLIGED TO OBTAIN A WORK PERMIT 4HE
NEED TO OBTAIN THE WORK PERMIT CONCERNS NON %5
CITIZENSWHOAREGOINGTOWORKIN0OLANDASANEM
PLOYEE)NCASESOFCITIZENSOFNON %5COUNTRIESWHO
ARE MEMBERS OF THE MANAGEMENT BOARD IN LEGAL
ENTITIESIN0OLAND0OLISHLAWPROVIDESASIMPLICA
TION.AMELYTHEYAREALLOWEDTOPERFORMWORKIN
0OLANDFORAPERIODNOTEXCEEDINGMONTHSWITHIN



 MONTHS WITHOUT A WORK PERMIT AFTER RECEIVING

AN APPROPRIATE LEGAL DOCUMENT WHICH PERMITS THE
WORKERTOSTAYIN0OLAND
"ECAUSEOFTHERECENTCHANGESINAPPLICABLE0OLISH
REGULATIONS CONCERNING LEGALISATION OF WORK AND
RESIDENCE OF FOREIGNERS IN 0OLAND THE PROCEDURE
CONNECTEDWITHOBTAININGAWORKPERMITIN0OLAND
HASBEENSIMPLIED6ARIOUSTYPESOFWORKPERMITS
WERE IMPLEMENTED BUT NOW THERE IS NO fPROMISEg
TOGRANTWORKPERMITSANYMORE!COMPANYWHICH
ISINTENDINGTOEMPLOYAFOREIGNERRECEIVESAWORK
PERMITAFTERSUBMITTINGACOMPLETEAPPLICATIONWITH
THEREQUIREDDOCUMENTATION7ITHTHEWORKPERMIT
THEFOREIGNERCANRECEIVEAVISAINORDERTOPERFORM
WORKORAPERMISSIONTOHAVETEMPORARYRESIDENCE
IN 0OLAND 4HE LAST STEP IS SIGNING A CONTRACT BE
TWEEN THE FOREIGNER AND THE EMPLOYER ACCORDING
TOTHECONDITIONSMENTIONEDINTHEWORKPERMIT)T
SHOULD BE NOTED THAT THE NEWLY IMPLEMENTED LAW
STIPULATESSEVEREPENALTIESFOREMPLOYINGFOREIGNERS
WHOHAVENOTOBTAINEDINDISPENSABLEPERMITS

III.5.2.
Polish social
security system
0ILLAR))))))
)N  A REFORM OF SOCIAL INSURANCE WAS CARRIED
OUTWHICHWASBASEDONTHECO NANCINGOFPREMI
UMSBYTHEEMPLOYERTHEEMPLOYEEANDTHREEPIL
LARSkONEREPARTITIONANDTWOCAPITALPILLARS
4HE SOCIAL SECURITY SYSTEM IN 0OLAND IS BASED ON
THREEPILLARS
ST 0ILLAR :53 k OBLIGATORY AND COMMON 0REMI
UMSDEDUCTEDFROMSALARIESAREWRITTENFROMTHE
INDIVIDUAL ACCOUNT OF AN INSURED PERSON 4HE IN
STITUTIONWHICHMANAGESTHESTPILLARISTHE3OCIAL
3ECURITY %STABLISHMENT 0ENSIONS RECEIVED FROM
THESTPILLARAREBASEDONTHEREPARTITIONSYSTEM
WHICH HAS THE CHARACTER OF THE GENERATION CON
TRACT4HISMEANSTHATPAYMENTSOFPENSIONSARE
NANCEDFROMTHECONTRIBUTIONOFTHEPEOPLEWHO
CURRENTLY WORK 4HE SYSTEM FUNCTIONS EFCIENTLY

Employment legislation
ONLYIFTHEPREMIUMSOFEMPLOYEESWHICHSUPPLY
THESYSTEMAREDELIVEREDINANAMOUNTSUFCIENT
FOR THE PAYMENT OF PRESENT PENSIONERS 4HANKS
TO OBLIGATORY PREMIUMS OF  OF GROSS SAL
ARYPEOPLEACQUIREPENSIONABLERIGHTSTHATARENgT
INHERITED!DDITIONALLYANEMPLOYEEHASINDIVIDU
ALLY CREATED SUB ACCOUNT IN ST 0ILAR WHERE ARE
TRANSFERREDOBLIGATORYOFTHEIRPREMIUMS
-OREOVERANEMPLOYEECANDECIDETHATADDITIONAL
OFDEDUCTEDPREMIUMSAREBOOKEDONTHIS
INDIVIDUALACCOUNTIN:53
ND0ILLAR/&% kISNOTANOBLIGATORYELEMENTOF
THESOCIALSECURITYSYSTEM%MPLOYEESCANCHOOSE
ONCEEVERYYEARSWHETHERTHEYPREFERTOTRANS
FEROFTHEIRPREMIUMSTO/&%ORLEAVEITIN
ANINDIVIDUALSUB ACCOUNTINST0ILAR:53 /PEN
PENSIONABLEFUNDSBELONGTOTHENDPILLAROFTHE
SOCIAL INSURANCE AND ARE MANAGED BY PRIVATE IN
VESTMENT RMS 0UBLIC 0ENSIONABLE !SSOCIATIONS
THATINVESTPREMIUMSINTONANCIALMARKETS
RD0ILLAR)+% kISAFREECAPITALPILLARWHICHISOR
GANISEDASANINVESTINGFUND4HEINSUREDPEOPLE
CHOOSE THE INSURANCE COMPANY ASSOCIATIONS OF
THE MUTUAL INSURANCE INSURANCE ASSOCIATIONS 
!FTERREACHINGAPENSIONABLEAGETHEPENSIONERS
FROM  THE PENSIONABLE AGE IS FOR WOMEN
BORNAFTERkYEARSFORMANBORN
AFTERkYEARS GETPENSIONSFROM
THE3OCIAL3ECURITY)NSTITUTION:53 ANDTHE/PEN
0ENSIONABLE&UND/&% THROUGHAN!GENT#OM
PANY AND THE EVENTUALLY PAYMENT FROM THE FREE
RDPILLAR
/BLIGATORYSOCIALINSURANCECONTRIBUTIONSPAIDBY
THEEMPLOYEEANDTHEEMPLOYER
!CCORDINGTOTHE!CTFROMTH/CTOBERRE
GARDING THE SOCIAL SECURITY SYSTEM SOCIAL INSURANCE
IN0OLANDINCLUDES
PENSIONABLEINSURANCE
RENTALINSURANCE
INSURANCE IN CASE OF SICKNESS LEAVE OR MATERNITY
LEAVEKNOWNASSICKNESSINSURANCE
INSURANCEINCASEOFACCIDENTSATWORKANDOCCU
PATIONALDISEASESKNOWNASACCIDENTINSURANCE
!CCORDING TO THE ABOVE MENTIONED !CT REGARDING
THE SOCIAL SECURITY SYSTEM OBLIGATORY PENSIONABLE
ANDRENTALINSURANCECONCERNSPHYSICALPEOPLEWHO
IN0OLANDARE



EMPLOYEES
PEOPLERUNNINGNON AGRICULTURALACTIVITYORPEOPLE
COOPERATINGWITHTHEM
PEOPLEWHOPERFORMCASUALWORK
PEOPLEWHOPERFORMAJOBONTHEBASISOFAGEN
TIVE CONTRACTS CONTRACTOR CONTRACTS OR ANOTHER
CONTRACT CONCERNING THE PROVISION OF SERVICES TO
WHICHACCORDINGTOTHE#IVIL#ODEAREAPPLIEDREG
ULATIONSABOUTCONTRACTORCONTRACTSORINDIVIDUALS
WHOCOOPERATEWITHTHESEPEOPLE
PEOPLEONPARENTALLEAVEORWHORECEIVEMATERNITY
BENETS
3ICKNESSINSURANCE
4HESOCIALSECURITYSYSTEMOBLIGATORYSICKNESSINSUR
ANCECONCERNSTHEFOLLOWINGPEOPLE
EMPLOYEES
MEMBERSOFAGRICULTURALPRODUCTIONCOOPERATIVES
ANDCOOPERATIVESOFAGRICULTURALCIRCLES
PEOPLEWHOPERFORMSUBSTITUTIONARYSERVICES
6OLUNTARY SICKNESS INSURANCE CONCERNS THE FOLLOW
INGPEOPLECOVEREDBYOBLIGATORYPENSIONABLEAND
RENTALINSURANCEONTHEIROWNAPPLICATION
PEOPLEWHOPERFORMCASUALWORK
PEOPLEWHOPERFORMTHEJOBONTHEBASEOFAGEN
TIVE CONTRACTS CONTRACTOR CONTRACTS OR ANOTHER
CONTRACT CONCERNING PROVIDING SERVICES WHICH
ACCORDING TO THE #IVIL #ODE APPLY TO REGULATIONS
ABOUT CONTRACTORgS CONTRACTS OR INDIVIDUALS WHO
COOPERATEWITHTHESEPEOPLE
PEOPLERUNNINGNON AGRICULTURALACTIVITIESORINDI
VIDUALSWHOCOOPERATEWITHTHEM
)N GENERAL THE YEARLY BASE FOR SOCIAL INSURANCE IN
THEFOLLOWINGCALENDARYEARCANgTBEHIGHERTHANTHE
AMOUNTRELATIVETOTIMESTHEPROPOSEDAVERAGE
MONTHLYSALARYINTHENATIONALECONOMYFORTHEGIV
ENCALENDARYEAR!SOFTHISIS0,.
4HEEMPLOYERSPENDSNANCEDBYTHEEM
PLOYER OF THE GROSS SALARY ON PENSIONABLE INSUR
ANCE4HEOTHERCONTRIBUTIONSFORTHESOCIALSECURITY
INSTITUTION :53 REGARD THE FOLLOWING INSURANCE
RENTALSICKNESSACCIDENTHEALTHINSURANCE,ABOUR
&UNDANDTHE%!'&UND
3OCIALSECURITYCONTRIBUTIONS INCOMETAX
AND HEALTH INSURANCE ARE ALSO DEDUCTED FROM THE
GROSSSALARY

Employment legislation

'ROSSSALARY
AGREEDIN
CONTRACT

%MPLOYEE
3OCIAL
#ONTRIBUTION

%MPLOYEE
(EALTH#ARE
#ONTRIBUTION

)NCOME
4AX

.ET
TOBE
PAID

%MPLOYER
3OCIAL
3ECURITY

4OTAL
EMPLOYER
COST





























4HEEMPLOYERMUSTALSOPAYPARTOFANYSOCIALSECU
RITYCONTRIBUTIONSk 
&OREXAMPLE
%52EGULATIONAND
3INCE ST -AY  AFTER 0OLAND JOINED THE %URO
PEAN 5NION REGULATIONS CONCERNING THE RULES OF
LIABILITYFORSOCIALINSURANCEINCLUDEDIN%52EGULA
TION HAVEBECOMEOBLIGATORY!CCORDINGTO
%5REGULATIONSPEOPLEMOVINGACROSSTHE%UROPEAN
5NIONFORTHEPURPOSEOFINCREASEDEARNINGSARELI
ABLETOLEGISLATIONFROMONLYONEOFTHESECOUNTRIES
4HENEW%5REGULATIONSCONCERNINGTHEDELEGATION
OFEMPLOYEESTOWORKINOTHER%UROPEANCOUNTRIES
CAMEINTOFORCEON-AY
4HESEARETHEFOLLOWINGORDERSNOFROM
TH3EPTEMBERWHICHCONCERNSTHEPERFORM
ANCEOFTHEORDER7% NOINTHEMATTER
OF COORDINATING SYSTEMS OF SOCIAL PROTECTION AND
NOFROMTH3EPTEMBERASWELLAS
NO ! FROM TH *UNE  FROM THE ADMINISTRA
TIVEBOARDOFSOCIALPROTECTIONWHICHCONCERNSTHE
INTERPRETATIONOFARTICLEOFORDERNO
4HE GENERAL RULE HAS REMAINED HOWEVER ACCORD
ING TO WHICH EMPLOYEES ARE LIABLE TO SOCIAL INSUR
ANCE ONLY IN THE COUNTRY IN WHICH THEIR WORK WAS
PERFORMED
4HEREAREACOUPLEOFEXCEPTIONSTOTHISRULEWHICH
ANTICIPATEINSURANCEINTHESENDINGCOUNTRYINCLUD
ING KEEPING THE RELATION BETWEEN EMPLOYER AND
EMPLOYEEANDNOTEXCEEDINGTHEMAXIMUMPERIODS
OFDELEGATION
4HEEMPLOYERMUSTOPERATETHEIRACTIVITYIN0OLAND
&OR THIS PURPOSE IT IS THE OBJECT OF THE COMPANYgS
ACTIVITIES SUCH AS THE ADMINISTRATION OF THE COM
PANYWHICHISTAKENINTOCONSIDERATIONRATHERTHAN
ITSINTERNALACTIVITIES



/RDERNOINTRODUCEDARULETHATANEM
PLOYEE IS LIABLE TO THE LEGISLATION OF THE DELEGATED
COUNTRYJUSTBEFORETHEDELEGATIONITSELF4HISMEANS
THAT THE EMPLOYEE OF A 0OLISH COMPANY MIGHT BE
DELEGATED ACCORDING TO %5 REGULATIONS ONLY IF JUST
BEFORETHISTIMETHEYWERELIABLETO0OLISHSOCIALIN
SURANCEFORAPERIODOFATLEASTONEMONTH
4HEDELEGATEDEMPLOYEEACCORDINGTOUNIONREGULA
TIONS ISAPERSONWHOISSENTBYTHEIREMPLOYERTOAN
OTHER%5COUNTRYANDADIRECTRELATIONSHIPBETWEEN
THETWOPARTIESSTILLEXISTS
)TISALSOACCEPTABLETOHIREANEMPLOYEEINORDERTO
DELEGATETHEM
4HE DELEGATION PERIOD CAN LAST UP TO  MONTHS
4HE NEW REGULATIONS REFER ALSO TO EMPLOYEES WHO
BEGANAPERIODOFDELEGATIONBEFOREST-AY
$ECISION!STIPULATEDTHATTHENEXTPERIODOFDEL
EGATIONCANNOTBEGINEARLIERTHANTWOMONTHSFROM
THEENDOFTHEPREVIOUSPERIODOFDELEGATION
4HE DOCUMENTS WHICH CONRM THE DELEGATION OF
EMPLOYEESARE% FORMAND! FORM"OTHCAN
BEFOUNDONTHEWEBSITEWWWZUSPL
!CCORDINGTOTHENEWRULESTHERIGHTFORPAYINGCOL
LECTIONS FOR AN EMPLOYEEgS PLACE OF LIVING DEPENDS
ON THE PERFORMANCE OF THEIR WORK )F THE PERSON
WORKSFORTWOFOREIGNEMPLOYERSNEITHEROFWHICH
HASAHEADOFCEINTHEIRPLACEOFLIVINGTHEIRPLACE
OFLIVINGWILLBEADEQUATEFORPAYINGCOLLECTIONS
)TISVERYIMPORTANTTHATSINCEST-AYANYEM
PLOYEESHIREDINTWOCOUNTRIESREPORTTHISFACTTOTHE
SUITABLEJURISDICTIONFORTHEIRPLACEOFLIVING4HEINSTI
TUTIONWILLTHENBEOBLIGEDTOPOINTOUTTHEAPPRO
PRIATEINSURANCESYSTEMFORTHISEMPLOYEE!NYTEM
PORARYLEGISLATIONPASSEDONTHISMATTERWILLBECOME
NALTWOMONTHSFROMTHEDATETHATTHEAPPROPRIATE
INSTITUTIONWASINFORMEDABOUTTHESITUATION

Highway
in Warszawa



IV.
Doing
business
from Start-up to performing a direct investment





IV.1.

Greenfield & brownfield investments

IV.1.1.
Activities requiring
licenses, concessions
or permits
4HE GENERAL LAW STIPULATES THAT THE UNDERTAKING AND
CONDUCTINGOFBUSINESSACTIVITIESISFREE(OWEVER0OLISH
LAWALSOSTATESSOMEEXCEPTIONSTOTHISGENERALRULE)T
MEANSTHATTHEUNDERTAKINGANDCONDUCTINGOFCERTAIN
ACTIVITIESISLIMITEDANDREQUIRESTHECONSENTOFTHE0OLISH
AUTHORITIESORENTRYINTOTHEREGISTEROFREGULATEDSERV
ICES7ECANDIVIDETHEABOVE MENTIONEDACTIVITIESINTO
FOURMAINGROUPS
ACTIVITIESWHICHMAYBEUNDERTAKENANDCONDUCTED
FREELY
ACTIVITIESWHICHMAYBEUNDERTAKENANDCONDUCT
EDONTHEBASISOFACONCESSION
ACTIVITIESWHICHMAYBEUNDERTAKENANDCONDUCT
EDONTHEBASISOFALICENSEORPERMITS
ACTIVITIESWHICHMAYBEUNDERTAKENANDCONDUCT
EDUPONREGISTRATIONINTOTHEREGISTEROFREGULATED
ACTIVITIES
&URTHERMORE0OLISHLAWSTATESTHATCERTAINPROFESSIONAL
SERVICESMAYBECONDUCTEDONLYBYPEOPLEWHOHAVE
AN APPROPRIATE CERTICATE EG TAX ADVISORS LAWYERS
REALESTATEAPPRAISALSARCHITECTSACCOUNTANTSORNAN
CIALADVISORS 
4OCONDUCTCERTAINTYPESOFACTIVITIESEGBANKOR
INSURANCEFUNDSPENSIONFUNDS 0OLISHLAWREQUIRES



Greenfield & brownfield investments

THE ESTABLISHMENT OF A SPECIED LEGAL FORM EG
JOINT STOCKCOMPANY 
#ONCESSIONS
!CONCESSIONISISSUEDFORAPERIODOFTIMEBETWEEN
VEAND YEARSANDISSTIPULATEDFORBUSINESSAC
TIVITIESWHICHHAVEASIGNICANTIMPORTANCEFORTHE
INTERESTSOFTHE3TATEEGNATIONALSECURITYPUBLIC
SAFETYANDMAJORPUBLICINTERESTS 
,ICENSESANDPERMITS
0OLISHLAWALSOSTATESOTHERTYPESOFADMINISTRATIVE
DECISIONS WHICH ARE MANDATORY IN ORDER TO UNDER
TAKEANDCONDUCTBUSINESSACTIVITY7HENTHEENTRE
PRENEURFULLSTHESTATUTORYREQUIREMENTSSTATEDBY
LAWTHEYMAYAPPLYFORANADMINISTRATIVEDECISION
EGAPERMITORLICENSE 0OLISHLAWSTATESTHATFOR
ALMOST THIRTY TYPES OF BUSINESS ACTIVITY YOU ARE RE
QUIREDTOOBTAINAPERMITORLICENSE"ELOWYOUWILL
ND SOME OF THE BUSINESS ACTIVITIES WHICH REQUIRE
SUCHADMINISTRATIVEDECISIONS
NATIONALANDINTERNATIONALROADTRANSPORTINCLUD
INGGOODSANDPASSENGERS 
FORWARDINGAGENCY
RAILWAYSTATIONS

TOURISMAGENCIES
PRIVATEINVESTIGATIONANDDETECTIVESERVICES
CONDUCTIONOFBUSINESSINSPECIALECONOMICZONES
THE OPERATION OF BANKS INSURANCE COMPANIES
BROKERAGEAGENCIESINVESTMENTFUNDSORPENSION
FUNDS
WHOLESALE TRADE AND MANUFACTURING OF ALCOHOLIC
BEVERAGESCASINOSLOTTERIESANDGAMBLING
2EGISTRATIONFORTHEREGISTEROFREGULATEDACTIVITIES
3UCH ACTIVITIES MAY BE CONDUCTED WHEN THE EN
TREPRENEUR FULLS THEIR STATUTORY REQUIREMENTS AND
UPONREGISTRATIONINTOTHEREGISTEROFREGULATEDAC
TIVITIES0OLISHLAWSTATESTWENTYTYPESOFREGULATED
BUSINESSACTIVITIES"ELOWARESOMEOFTHEBUSINESS
ACTIVITIES WHICH REQUIRE ENTRY INTO THE REGISTER OF
REGULATEDACTIVITIES
THE ARCHIVING OF EMPLOYEES AND PERSONAL DOCU
MENTATION
STORAGEENTERPRISES
TELECOMMUNICATION
THEMANUFACTURINGOFALCOHOLICBEVERAGES
DETECTIVESERVICES
WORKAGENCIES
THEORGANISINGOFHORSERACES

!UTHORITIESRESPONSIBLEFORISSUINGCONCESSIONS
!CTIVITYREQUIRINGACONCESSION

!UTHORITY

3EARCHING%XPLORATIONOFMINERALSUNDERGROUND
STORAGEOFSUBSTANCESANDWASTEINROCKMASSES
ORINUNDERGROUNDMINES

-INISTEROF%NVIRONMENT

4HEMANUFACTURINGOFANDTRADINGINEXPLOSIVES
AMMUNITIONWEAPONSANDOTHERITEMSAND
TECHNOLOGYFORMILITARYORLAWENFORCEMENT
PURPOSE

-INISTEROF-INISTRYOFTHE)NTERIOR

-ANUFACTURINGPROCESSINGSTORINGDELIVERING

DISTRIBUTINGANDTRADINGOFFUELSORENERGY

0RESIDENTOFTHE%NERGY2EGULATORY!UTHORITY

3ECURITYSERVICESFORPERSONSANDPROPERTY

-INISTEROF-INISTRYOFTHE)NTERIOR

2ADIOANDTELEVISIONBROADCASTING

0RESIDENTOFTHE.ATIONAL"ROADCASTING
!UTHORITY

!IRTRANSPORTATION

0RESIDENTOFTHE#IVIL!VIATION!UTHORITY



Greenfield & brownfield investments

IV.1.2. Real estate

market

GROWTHOFREALESTATEPRICESHASPROBABLYPREVENT
ED THE MARKET FROM THE CREATION OF A 2EAL %STATE
BUBBLE WHICH HAS ALREADY BEEN DEVELOPING QUITE
STRONGLYINTHEHOUSINGMARKET

4HE0OLISHREALESTATEMARKETHASBEENSTRONGLYDOMI
NATED IN THE PAST YEARS BY THE OUTSTANDING POSITION
OFTHE0OLISHCAPITAL7ARSAWASTHECENTREFORMAJOR
INVESTMENT ACTIVITIES )N A SECOND WAVE WITHIN THE
LAST VE YEARS OTHER CITIES SUCH AS 7ROCAW 4RI #ITY
'DASK 'DYNIA 3OPOT  0OZNA +ATOWICE OR D
HAVEALSODEVELOPEDASTRONGPOSITION.OTONLYHAVE
THEY ATTRACTED )NDUSTRIAL "0/ k OR LOGISTICS INVEST
MENTSINADDITIONTHEYHAVEBECOMESERIOUSMARKETS
FORINTERNATIONALDEVELOPERSANDINVESTORSWHICHHAVE
INVESTEDINLOCALCOMMERCIALANDHOUSINGPROJECTS
4HENANCIALCRISISWHICHLIMITEDORPARTLYBLOCKED
ACCESS TO NANCIAL SOURCES LED TO A GENERALIZED
hHIGHRISKCLASSICATIONiOF0OLANDWITHINTHE#%%
COUNTRIES ON ONE LEVEL WITH (UNGARY 5KRAINE OR
THE "ALTIC COUNTRIES !FTER THE RST WAVE OF PANIC
INTERNATIONAL INVESTORS HAVE STATED THAT THE 0OLISH
ECONOMY IS STABLE 4HE %UROPEAN #OMMISSION EX
PECTS0OLANDTOGROWBYIN4HISASPECT
OF STABILITY IS ATTRACTING NEW POTENTIAL INVESTORS TO
0OLAND.EVERTHELESSTHEADJUSTMENTINTHESTRONG



0OLANDISNOWGOINGTHROUGHAPHASEOFCONSOLIDA
TIONBUTINATHIRDWAVEWEDOEXPECTTHEFOLLOWING
MARKETDEVELOPMENTS
MORESELECTIVECHOICEOFATTRACTIVELOCATIONSWHILE
NEW WELL LOCATED OBJECTS HAVE LOST WITHIN THE
CRISIS FROM k OF THE BOOM VALUE THE
PRICEDECREASEOFNDANDRDCHOICELOCATIONSWILL
EXCEEDORDUETOHIGHERVACANCIESAND
MORECOMPETITIONONTHEMARKET 
FOCUS ON INVESTMENTS AND GROWTH IN LESS DE
VELOPED #ITIES WITH k INHABIT
ANTS ,UBLIN 2ZESZW +IELCE "IAYSTOK k THIRD
WAVEAFTER7ARSZAWAANDOTHERTOPPOLISHCITIES
0OZNA 7ROCAW 4RI #ITY 'DASK 'DYNIA 3O
POT +RAKW+ATOWICED 
THE ROLE OF BUILD QUALITY WILL GROW AND BECOME
MORECRUCIALFORTHEVALUATIONOFTHEREALESTATE
4HE 0OLISH MARKET IS BECOMING MORE MATURE AND
WITHLIMITEDACCESSTONANCINGITCANNOWBECON
SIDEREDAh"UYERS-ARKETiWHICHOFFERSINVESTORSTHE
OPPORTUNITYTOVERIFYSOMEOPTIONSLONGERTHANBE
FOREDURINGANUNCONTROLLEDhTIMETOMARKETiACTING

Greenfield & brownfield investments

7)%,+/0/,3+!
2%')/.

$/,./,3+)%
2%')/.

7!23!7

#%.42!,
0/,!.$

,3+)%
2%')/.

ERN STANDARDWAREHOUSESAREBETWEEN %52

DEPENDING ON LOCATION OF WAREHOUSE AND TIME OF
CONTRACTING

IV.1.2.1. Warehouse
& industrial market
4HE $EVELOPMENT OF MODERN WAREHOUSE SPACE
IN 0OLAND EXCEEDED IN  MORE THAN  MLN M
WITHAVACANCYRATEOFWHICHHASBEENBUILT
MOSTLYAMONGSTTHEMAJORINDUSTRIALCENTRESSUCHAS
7ARSAW +ATOWICE OR 0OZNA AND AMONG EXISTING
OR PLANNED 0OLISH HIGHWAYS 4WO FAMOUS LOGISTICS
LOCATIONS IN 0OLAND ARE 0IOTRKW 4RYBUNALSKI AND
3TRYKWNEXTTOD WHICHPROTFROMTHEIRPRE
CISECENTRALPOSITIONANDTHEFACTTHEYHAVEALREADY
ATTRACTED GLOBAL PLAYERS INTO THEIR PORTFOLIO ,OGIS
TICS&-#'ANDKEYINVESTMENTSINELECTRONICSAND
WHITEGOODSARETHEDRIVERSFORNEWWAREHOUSEDE
VELOPMENTS"ESIDETHAT0OLANDOFTENPLAYSASTRA
TEGICROLEASASERVERMARKETFORFURTHEREXPANSIONS
TO%ASTERNMARKETS"ASEDONTHATAPPROACHITCAN
BE ASSUMED THAT FUTURE DEVELOPMENT WILL BE FO
CUSEDCLOSERTOTHEEASTERNBORDEROF0OLAND4ODAY
WE CAN DENE VE MAJOR #LUSTERS FOR 7AREHOUSE
INVESTMENTSIN0OLAND
LSKIEVOIVODSHIPAROUND+ATOWICE
#ENTRAL0OLANDAROUNDD
7ARSZAWAAND-AZOWIECKIEVOIVODSHIP
7IELKOPOLSKIEVOIVODSHIPAROUND0OZNA
$OLNOLSKIEVOIVODSHIPAROUND7ROCAW
-AJORDEVELOPERSHAVEESTABLISHEDTHEIRPROJECTSIN
DIFFERENTLOCATIONS2ENTALCOSTSFORTHOSEMOD



)NDUSTRIAL FACTORIES ARE EITHER DEVELOPED IN "43

BUILD TO SUIT SOLUTIONSONAMINIMUMOFkYEARS
NANCIALLEASING RENTAL CONTRACTSORMAINLYBUILTBY
INDUSTRIAL COMPANIES THEMSELVES 4HESE INDUSTRIAL
COMPANIESINVESTDIRECTLYININDIVIDUALLOCATIONSBE
CAUSEOFSPECICLOCATIONREQUIREMENTSOFTENHIGH
UNEMPLOYMENTHIGHAVAILABILITYOFWORKERSCLOSE
NESSTOCUSTOMERSSUPPLIERSORRAWMATERIALSETC 
4HOSEPERIPHERALLOCATIONSAREUSUALLYCHOSENINOR
DER TO KEEP INVESTMENT AND PRODUCTION COSTS LOW
ANDTOACHIEVETHEHIGHESTPOSSIBLELEVELOFWORK
FORCE AVAILABILITY ! WELL DEVELOPED PERIPHERAL PLOT
OFFERED BY A LOCAL MUNICIPALITY OR THE !GRICULTURAL
0ROPERTY !GENCY k !.2
FOR A 'REENELD INVEST
MENT CAN COST AROUND  TO  0,.  SM WITHIN
A3%:USUALLYMORE WHILEAMEDIUMDEVELOPEDPRI
VATEPLOTINATOPLOGISTICSREGIONCANBEOFFEREDFOR
BETWEEN  AND  0,.  SM #RUCIAL CRITERION
ANALYSEDBYINVESTORSISLANDSITUATEDINTHEVICINITY
OFMAJORROADS!!!ANDEXPRESSROADS CLOSE
TO7ARSAWD7ROCAW0OZNAAND+ATOWICE

IV.1.2.2. Office market

"ETWEEN  AND  THE 7ARSAW /FCE MAR
KETWASATTHECENTREOFTHERSTINVESTMENTWAVE
WHICHSTARTEDDURINGTHETRANSITIONPROCESS$URING
THIS PROCESS ALMOST ALL GLOBAL PLAYERS CONSULTING
COMPANIESANDBANKSINSTALLEDTHEIRHEADOFCESIN
7ARSAWTOCOMMUNICATETHENECESSARYPRESENCEIN

Greenfield & brownfield investments

THEMARKETANDINORDERTOSTARTBUSINESSACTIVITIES
WITHINTHEWHOLECOUNTRY!FTERTHISRSTINVESTMENT
WAVEASINOTHER#%%#APITALS7ARSAWHASBECOME
ONE OF THE MOST EXPENSIVE OFCE MARKETS IN THE
WORLD 0RESENTLY THE MODERN OFCE STOCK REACHED
ALMOSTMLNMWITHVACANCYRATE
3OURCE2ESEARCH&ORECAST2EPORT(#OLLIERS)NTERNA
TIONAL

7ITHIN RECENT YEARS A WAVE OF FOREIGN "0/ AND

SPECICLOCAL)NVESTMENTSWITHHIGHQUALITYREQUIRE
MENTS IN TOWNS LIKE +RAKW 0OZNA OR 7ROCAW
HAVEHADASTRONGIMPACTONTHEDEVELOPMENTOF
MODERN OFCE SPACE IN THESE REGIONS 4HESE MAR
KETSHADBEENDOMINATEDPREVIOUSLYBYLOCALOFCE
SUPPLIES WITH LOW QUALITY 4HIS WAS UNSUITABLE FOR
GLOBALPLAYERSWHOINVESTEDIN"0/OROTHERSERVIC
ES-EANWHILEAFTERACERTAINQUALITYLEVELWASSET
LOCAL0OLISHDEVELOPERSHAVEENTEREDTHEMARKETAND
CREATED LOCAL BRANDS FOR SMALLER AND MEDIUM SIZE
OFCESWHICHAREALSOACCEPTEDBYFOREIGNCUSTOM
ERS $UE TO GROWING COMPETITION DEVELOPERS AND
PROPERTYOWNERSAREWILLINGTONEGOTIATELEASETERMS
REGARDINGBOTHEXPANSIONORRENEWAL ANDREDUC
TIONSOFLEASEDSPACE#URRENTMARKETCONDITIONSARE
FAVOURABLEFORTENANTSWHOWANTTOINCREASETHEEF
CIENCYOFTHEIROFCESPACE
4OPCITIES3UPPLYANDASKINGPRICES
7ARSAW



+RAKW



7ROCAW






4RICITY








0OZNA
D 



+ATOWICE 





         
%52M
3OURCE2ESEARCH&ORECAST2EPORT(#OLLIERS)NTERNA
TIONAL

4HE AVERAGE RENTS PAID IN  IN 7ARSAW REMAINS

UNCHANGED%52SQMMONTHINCENTRALLOCATIONS
AND%52SQMMONTHINNONCENTRALLOCATIONS)N
THESECONDARYCITESRENTSDOESNOTEXEED%52M
#ONCLUDING PRE LETS AGREEMENTS IS INTENSIFYING
TREND AND REPRESENTS  OF TOTAL TRANSACTION
VOLUMES



IV.1.2.3. Retail and

commercial market
!FTER2USSIAANDTHE5KRAINE0OLANDISTHEBIGGEST
CONSUMERMARKETIN#%%ANDTHEBIGGESTWITHINTHE
NEW %5 ACCESSION COUNTRIES 4HIS FACT WAS ALREADY
CLEARINTHEBEGINNINGOFTHETRANSITIONPROCESSAND
ITISONEOFTHEREASONSWHYTHERETAILMARKETISNOW
THEMOSTMATUREANDDEVELOPEDREALESTATEMARKET
IN%UROPE
&ROM THE BEGINNING OF THE {S BIG &RENCH RETAIL
GROUPS SUCH AS #ARREFOUR !UCHAN 'ANT AND
%,ECLERC HAD ALREADY STARTED TRADING IN 0OLAND
WITH BIG HYPERMARKETS TO MEET THE SIGNICANT DE
MANDSOFTHEPOPULATIONgSQUICKLYGROWINGMARKET
4ODAY{S MODERN RETAIL SUPPLY EXCEEDS MORE THAN
MNMWITHSHAREINTOTALMARKETANDIS
AGAINDOMINATEDBY7ARSAWANDTHEOTHERREMAIN
INGTOP#ITIES
4HERETAILMARKETALREADYPASSEDCERTAINSTAGES4HE
RST BASIC SATISFACTION THROUGH THE CREATION OF BIG
HYPERMARKETSANDMALLSTHECHANGEOFFOCUSFROM
HYPER TO SUPERMARKETS AND THE ESTABLISHMENT OF
DISCOUNT MARKETS MOSTLY IN RURAL REGIONS IN ORDER
TOSUBSTITUTELITTLELOCALSHOPS.OWTHETRENDISTO
MINIMIZE THE DISTANCE FROM CUSTOMERS LIVING AREAS
INSTEADOFFORCINGTHEMTOTRAVELLONGDISTANCESTO
THESUBURBANHYPERMARKETSANDMALLS)NVESTORSARE
NOWMOREOPENTOENTERMUNICIPALITIESWHICHHAVE
BETWEEN k INHABITANTS FOR SUPER
MARKETS OR FOR DISCOUNT MARKETS WITH A MINIMUM
OFINHABITANTS0OLISHRETAILISSTILLRELATIVELY
SHREDDEDkTHETOPRETAILERSHAVEMARKET
SHARE
4HEMARKETOFSHOPPINGMALLSIN0OLANDHASGROWN
SIGNICANTLY WITHIN THE LAST FEW YEARS )NSUFCIENT
EXISTENCE OF COHERENT AND DEVELOPED SHOPPING
STREETS OR CITY AREAS HAVE INITIALIZED DEVELOPERS TO
BUILD BIG SHOPPING MALLS WHICH HAVE BEEN INTE
GRATEDINTOTHECITYSCAPESORBUILTJUSTOUTSIDETHE
CITIES 4HE VACANCY RATE IS DECREASING ON THE MOST
SATURATEDMARKETS4HEAVERAGEVACANCYRATEHOVERS
BELOW
!PPROXIMATELYM',!OFRETAILANDCOM
MERCIAL SPACE ARE UNDER CONSTRUCTION  OF
WHICHISPLANNEDTOBEOPENEDBEFORETHEENDOF
THEYEARCONSTITUTINGAINCREASEINCOMPARISON
WITHTHESITUATIONATTHEENDOF

Greenfield & brownfield investments

IV.1.3.
Acquiring real estate

0ERPETUALUSUFRUCT

,EGALENTITLEMENTTOREALESTATE
%NTITLEMENTTOREALESTATEISREGULATEDBYTHE0OLISH
#IVIL#ODEFROM!PRIL2EALESTATEISUNDER
STOODTOBEGROUNDSWITHPREMISESINCLUDINGFACILI
TIESSUCHASAPARTMENTSANDHOUSESETCWHICHARE
SEPARATE SUBJECTS OF PROPERTY IN ACCORDANCE WITH
0OLISH ,AW &ULL OWNERSHIP GIVES THE WIDEST SCOPE
OFRIGHTSRELATEDTOREALESTATEANDCANBERESTRICTED
ONLY UNDER CERTAIN CIRCUMSTANCES DENED BY THE
#IVIL #ODE NEIGHBOUR OR ZONING REGULATIONS  AD
MINISTRATIVE LAW OR THE OWNERgS WILL /WNERSHIP IS
THE ULTIMATE RIGHT TO REAL ESTATE AND PROVIDES THE
OWNERWITHACOMPLETERANGEOFUSAGE/WNERSHIP
ISLEGALLYPROTECTEDAGAINSTANYTHIRDPARTIESACTING
AGAINST THE OWNER /WNERSHIP IS NOT TIME LIMITED
.EITHERTHEGOVERNMENTNORPUBLICOFCESHAVEANY
RIGHTTOINTRUDEOWNERSHIPTHEONLYEXCEPTIONSBE
INGTHOSEPRESENTEDINTHEZONINGPLAN
4HE0OLISHLEGALSYSTEMOFFERSSEVERALTYPESOFRIGHTS
TOREALESTATE
OWNERSHIP
PERPETUALUSUFRUCT
USUFRUCT
REAL%STATEEASEMENT
TRANSMISSIONEASEMENT
MORTGAGE
LEASE

0ERPETUALUSUFRUCTISESTABLISHEDWITHRESPECTTOLAND
OWNEDBYTHE3TATE4REASURYORLOCALGOVERNMENTAU
THORITIES )T IS USUALLY CREATED FOR  YEARS THE MINI
MUMPERIODISYEARS ANDMAYBEEXTENDED4HE
PERPETUALUSUFRUCTEEISALLOWEDTOUSETHELANDINTHE
SAME SCOPE AS THE OWNER (OWEVER THE PURPOSE OF
LANDUSEISDENEDBYANAGREEMENTANDSHOULDBE
RECOGNISED BEFORE PURCHASING THE RIGHT OF USUFRUCT
4HISISBECAUSETHEOWNER3TATE4REASURYORLOCALGOV
ERNMENT MAYTERMINATETHEAGREEMENTIFTHELANDIS
USEDINAWAYCONTRADICTORYTOTHEWAYDENEDINTHE
AGREEMENT 4HE PURPOSE IS GENERALLY DENED BY DE
VELOPMENTANDZONINGREGULATIONS2IGHTTOTERMINATE
THE PERPETUAL USUFRUCT AGREEMENT IS USED BY 3TATE
4REASURY OR LOCAL GOVERNMENTS ONLY IN EXCEPTIONAL
CIRCUMSTANCES CONTINUOUS AND AGRANT VIOLATION OF
PURPOSE 
4HEPERPETUALUSUFRUCTISTRANSFERREDUNDERTHESAME
RULESASREGULAROWNERSHIPANDPROPERTYRIGHTSFORREAL
ESTATE.OSPECIALPERMITFROMTHEOWNERTHE3TATE
4REASURYORLOCALGOVERNMENTUNIT ISREQUIREDEXCEPT
WHENTHETRANSFERISCARRIEDOUTBYFOREIGNERS )NMOST
CASES THE PERPETUAL USUFRUCT MAY BE TRANSFERRED TO
FULLOWNERSHIPUPONAPPLICATIONANDPAYMENTOFTHE
TRANSFORMATIONFEE
&EEFORPERPETUALUSUFRUCT
5SUFRUCTEESMUSTPAYTHEGOVERNMENTANANNUALFEE
UNTILST-ARCH SEPARATEFROMTHEOBLIGATORY
LANDTAX4HEFEEISCALCULATEDWITHRESPECTTOLANDVAL
UEANDCANNOTBECHANGEDMORETHANONCEAYEARFOR
SPECIALTYPESOFLANDTHISPERIODCANBEEXTENDEDTO
VEYEARS "ECAUSEOFFEEPERPETUALUSUFRUCTISRECOG
NIZEDTOBEMOREEXPENSIVETHANREGULAROWNERSHIP

/WNERSHIP
&ULLOWNERSHIPGIVESTHEWIDESTSCOPEOFRIGHTSRELATED
TOREALESTATEANDCANBERESTRICTEDONLYUNDERCERTAIN
CIRCUMSTANCES WHICH ARE DENED BY THE #IVIL #ODE
NEIGHBOURORZONINGREGULATIONS ADMINISTRATIVELAW
ORWILLINGNESSOFTHEOWNER/WNERSHIPRIGHTSARETHE
MOSTCOMPLETEANDHAVEAFULLSCOPEOFTHEUSAGEOF
THEPROPERTYOFLANDORBUILDING4HERIGHTOFOWNER
SHIPISPROTECTEDAGAINSTALLTHIRDPARTIESWHOARETRY
INGTOACTAGAINSTTHEOWNER4HEOWNERSHIPRIGHTSARE
NOTTIMELIMITED4HEGOVERNMENTORPUBLICOFCESDO
NOTHAVEANYRIGHTTOINUENCETHEOWNERSHIPEXCEPT
THE ZONING AND TAXATION REGULATIONS )N SOME CASES
PROPERTIES MAY BE EXPROPRIATED WITH COMPENSATION
FORTHECONSTRUCTIONOFAPUBLICROAD



/WNERSHIPVSPERPETUALUSUFRUCT
! SUBSTANTIAL DIFFERENCE BETWEEN PERPETUAL USUFRUCT
AND OWNERSHIP IS THAT IN THE PERPETUAL USUFRUCT THE
BUILDING IS A SEPARATE OBJECT OF OWNERSHIP FROM THE
LAND AND ACTS AS A SECOND OBJECT !FTER CONSTRUCT
INGABUILDINGTHEPERPETUALUSUFRUCTEEBECOMESITS
OWNERWITHFULLOWNERSHIPRIGHTS)NCASEOFTHETER
MINATION OF THE PERPETUAL USUFRUCT THE USUFRUCTEE
HASTHERIGHTTOOBTAINANEQUIVALENTMARKETVALUEOF
THEBUILDINGFROMTHE3TATE4REASURYORALOCALGOVERN
MENTWHICHISPARTOFTHEPROPERTYHELDINTHEPER
PETUALUSUFRUCT

Greenfield & brownfield investments

5SUFRUCT
5SUFRUCT IS A QUALIED PROPERTY RIGHT ESTABLISHED BY
THEOWNERORPERPETUALUSUFRUCTUARYINANOTARYDEED
5SUFRUCT ALLOWS FOR BOTH USING THE REAL ESTATE AND
GAINING BENETS THEREFROM 5SUFRUCT CAN BE EITHER
PAYABLEORFREEOFCHARGE(OWEVERINCASEOFTHELAT
TERITMAYBESUBJECTOFADDITIONALTAXATION4HEUSU
FRUCTUARYISALSOOBLIGEDTOINCURCOSTSRELATEDTOTHE
REALPROPERTYMAINTENANCE5SUFRUCTISNON TRANSFERA
BLEANDITCANgTBETRANSFERREDONTOANYOTHERNATURAL
ORLEGALPERSON

RECOGNISES SO CALLED SALES AND LEASES BACK CONTRACTS

4HESEALLOWAFOREIGNCOMPANYORNATURALPERSONTO
GETLONG TERMRIGHTSFORPROPERTYUSE
2EALESTATEACQUISITION
2EALESTATEACQUISITIONISREGULATEDBYTHEPROVISIONSOF
THE0OLISH#IVIL#ODE0ROPERTYTRANSFERMAYBEBASED
ONLY ON A SALES AGREEMENT WHICH STIPULATES ALL THE
PARTIESg RIGHTS AND OBLIGATIONS "OTH REAL ESTATE AND
PERPETUAL USUFRUCT TRANSFERS BECOME VALID THROUGH
ASALESAGREEMENTWHICHISOBLIGATORILYSIGNEDINFRONT
OFPUBLICNOTARYINTHEFORMOFTHENOTARYDEED

2EAL%STATEEASEMENT
0RE SALESAGREEMENT
2EALESTATEEASEMENTISAQUALIEDPROPERTYRIGHTUN
DERWHICHTHEOWNEROFAREALESTATEMAYEITHERUSE
ANOTHERREALESTATETOASPECIEDEXTENTDENEDINAN
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0RIOR TO THE NAL TRANSFER OF RIGHTS DECISION MAK

ERS MAY ESTABLISH A SO CALLED PRE SALES AGREEMENT
FOR SELECTED LAND OR LAND WITH BUILDINGS  )T IS NOT
NECESSARY BUT HIGHLY RECOMMENDED TO MAKE THE
PRE SALESAGREEMENTINFRONTOFAPUBLICNOTARY)N
THE PRE SALES CONTRACT IT IS POSSIBLE TO OBLIGE THE
SECOND PARTY TO REALISE SPECIC CONDITIONS RELATED
TOTHEPROPERTYINQUESTIONSUCHASCLARIFYINGLEGAL
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NALSALES4HEPRE SALESAGREEMENTMAYGUARANTEE
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OUT ANY PRE PAYMENT OR MINIMAL AMOUNTS AS PRE
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2EALESTATEANDMORTGAGEREGISTER
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FER IN TERMS OF WHEN THEY ACTUALLY COME INTO FORCE
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THENALAGREEMENTISTHEDAYTHEBUYERBECOMESTHE
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ISTRANSFERRED
0UBLICPURCHASE
0URCHASINGREALESTATEFROMPUBLICORGOVERNMENT
CONTROLLED AUTHORITIES ENTAILS A SPECIAL PROCEDURE
WHICH INVOLVES PUBLIC TENDER OR AUCTION 0UBLIC OR
GOVERNMENTAUTHORITIESGUARANTEEEQUALCONDITIONS
TOALLPOTENTIALBUYERS

Greenfield & brownfield investments

!CQUISITIONOFREALESTATEBYFOREIGNERS

OF!PRIL STILLENTAILSOBTAININGAPERMITEVEN

FORFOREIGNERSREGISTEREDINSIDETHE%%!

7HEN ON ST -AY  0OLAND BECAME A MEM

BER STATE OF THE %UROPEAN 5NION AND CONSEQUENTLY
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TIONWHICHTAKESONAVERAGETHREE FOURMONTHSOF
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! FOREIGN BUSINESSPERSON MAY APPLY FOR A PROMISE
REGARDING A PROSPECTIVE ACQUISITION 3UCH A PROMISE
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IV.1.4.
Investment process
IV.1.4.1. Analysis
4HE CHOICE OF LOCATION AFFECTS ABOUT  OF THE
INVESTMENT AND FOLLOW UP COSTS INCLUDING DEVEL
OPMENT COSTS TRANSPORT COSTS WAGES TAXES AND
ENERGY  4HE RST CHOICE BETWEEN GREENELD AND
BROWNELDDENESTHEBASICSCOPEOFPOSSIBILITIESTO
CHOOSEBETWEENTHELOCATIONADVANTAGES
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TORS WHICH WE MUST CONSIDER DURING THE INVESTMENT
PROCESS
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THEINVESTMENTINSIDEOROUTSIDETHE3PECIAL%CO
NOMIC:ONE
THEDISTANCEQUALITYANDTIMEOFLOGISTICSTOTHE
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BLUE COLLARANDWHITE COLLARWORKERS
INFRASTRUCTURE AND DEVELOPMENT COSTS ALL MEDIA
ROADSACCESSANDEXTENSIONPOSSIBILITIES 
THEAVAILABILITYOFREQUIREDCOMPONENTSSUPPLIERS
THEAPPROPRIATECONTACTSINLOCALAUTHORITIES

Greenfield & brownfield investments

:ONING PLANS MAY BE CHANGED BY THE MUNICIPALITY

EITHERINACCORDANCEWITHTHEOWNERgSAPPLICATIONOR
WHENTHEAREAISMODIEDBYTHE'OVERNMENT4HE
LATTERSITUATIONISRATHEREXCEPTIONALANDTAKESPLACE
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ESTSUCHASBUILDINGROADSANDRAILWAYS 

IV.1.4.2. Step-by-step
investment process
!RCHITECTURE0LANNING
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STRUCTION#!$# WHICHDENETHEBASICSCOPEOFTHE
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PERIOD OF THREE SIX MONTHS MUST BE TAKEN INTO CON
SIDERATIONBEFOREAWELL PREPAREDDOCUMENTISSENTTO
THEARCHITECTURALOFCETOAPPLYFORABUILDINGPERMIT
-ANYCOMPANIESOFTENUNDERESTIMATETHEVOLUMEOF
OFCIAL DOCUMENTS AND PROCEDURES WHICH MUST BE
PREPAREDINORDERTOSTARTTHEIROPERATIONSIN0OLAND
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4HEPROPERTYMAYBEUTILIZEDONLYWITHINTHELIMITS
ALLOWED IN THE ZONING PLAN REGULATED BY THE !CT
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MUMTIMEOFNINEMONTHS 
4HE ZONING PLAN DENES ALL CONDITIONS REGARDING
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)TSHOULDBENOTEDTHATINCASEOFSPECIALECONOMIC
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Greenfield & brownfield investments

%)$!S%)$DENESTHELEVELOFNOISEANDEMISSIONS
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Greenfield & brownfield investments

ANAUTHORITYVERIESIFARCHITECTURALDESIGNANDAT
TACHEDDOCUMENTSARELEGALLYCOMPLIANTWITH0OLISH
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Greenfield & brownfield investments

ARENOOBJECTIONSORCLAIMSRAISEDADECISIONRECEIVES
AVALIDATIONSTAMP
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TOGETAhVALIDATIONSTAMPiONTHEBUILDINGPERMITAND
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DZKI )NSPEKTOR /CHRONY RODOWISKA ABOUT THE
PLANNEDSTARTOFOPERATIONS DAYSADVANCE4HE
INSPECTORATEISENTITLEDTOCHECKTHECONSTRUCTION
SITEANDRELEVANTDOCUMENTSTOCONRMTHATTHE
INVESTMENTWASACCOMPLISHEDCOMPLIANTWITH%)$

Airport
in Warszawa



IV.2.

M&A

IV.2.1.
Polish M&A
market

WHICHMAYRELATETOAFURTHERREDUCTIONINOPERAT
INGCOSTS

/NE OF THE NATURAL METHODS OF IMPLEMENTING

PROJECTSIN0OLANDISTOTAKEOVEREXISTINGBUSINESS
ENTITIES.OWADAYSTHEFOLLOWINGREASONSFORTRANS
ACTIONSIN0OLANDCANBEIDENTIED
GOODBUSINESSOPPORTUNITIESRESULTINGFROMTHE

A -ARKETSIZE

B 7ELLEDUCATEDPERSONNEL

C ,OWLABOURCOSTS
TAKINGOVERBUSINESSESINORDERTOOBTAINPREFER
ENCES RESULTING FROM OPERATIONS IN SPECIAL ECO
NOMICZONES
THEPRIVATISATIONOFSTATE OWNEDCOMPANIES
LOOKING FOR STRATEGIC PARTNERS TO ENABLE FURTHER
GROWTHWHILENANCIALMARKETSAREFROZEN

0RIVATISATIONPROCESSESWHICHSTILLINVOLVEARELATIVELY
SIGNICANTPERCENTAGEOF0OLISHSTATE OWNEDCOM
PANIES MAKE IT POSSIBLE TO ND INTERESTING TARGETS
FORTAKEOVERS.OWADAYSALLTHEBIGGESTENTITIESARE
SOLD"UTTHEREISSTILLAGREATDEALOFSMALLANDME
DIUMCOMPANIESTOBESOLD4HEREASONSWHYTHEY
COULDBEAGOODTARGETS
.OTSOMANYBUYERSAREINTERESTED
'OODPRICECANBEACHIEVED
0ROTABILITYCANBEINCREASEDVERYEASILY
)T SHOULD BE NOTED THAT THE INTENTION OF SELLING
ACOMPANYVIASUCHAPROCESSINCLUDESTAKINGPART
IN PUBLIC TENDERING PROCEDURES ORGANISED BY THE
-INISTRY OF 3TATE 4REASURY )T IS CRUCIAL TO PREPARE
THE APPROPRIATE DOCUMENTATION PROFESSIONALLY AS
INDICATED IN THE FREELY AVAILABLE DETAILED TENDER
SPECICATIONS

4HE0OLISHMARKETISLARGEENOUGHTOBEINTERESTING
FORGLOBALPLAYERSANDTHEECONOMYSUFFEREDLEAST
DURINGTHELASTCRISIS-OREOVERACOMPANYBASED
IN 0OLAND COULD BE A GOOD PLATFORM TO REACH THE
WHOLE#%%MARKET/NEOFTHEBIGGESTADVANTAGES
ABOUTINVESTINGIN0OLANDISTHATTHEREISSTILLEASY
ACCESSTOQUALIEDPERSONNELPEOPLEAREWELLEDU
CATEDANDTHELABOURCOSTSAREVERYCOMPETITIVE
!DENITEADVANTAGEOFTAKEOVERSIN0OLANDISTHE
USE OF ENTITIES ENJOYING PREFERENCES RELATED TO OP
ERATIONS IN SPECIAL ECONOMIC ZONES !FTER CERTAIN
REQUIREMENTSAREMETITISPOSSIBLETOTAKEOVERAN
ENTITYOPERATINGWITHINTHESPECIALECONOMICZONE



5NDOUBTEDLY THE INITIAL SIGNS OF MARKET IMPROVE

MENT WILL CAUSE INVESTORS TO RETURN TO STANDARD
TRANSACTIONS BETWEEN INTACT COMPANIES IN CONDI
TIONSWHICHJUSTIFYACOMPANYgSPURCHASEORSALE
)NTHECASEOFATAKEOVERITISNECESSARYTOPLANTHE
WHOLEPROCESSINANAPPROPRIATEWAYWHICHUSUALLY
CONSISTSOFTHEFOLLOWINGELEMENTS
THECHOICEOFANINVESTMENTADVISERPARTNERLOOK
INGFORENTITIESTOBEPOTENTIALLYTAKENOVER
INITIALNEGOTIATIONS
DUEDILIGENCEkEXTENSIVELEGALTAXANDBUSINESS
ANALYSISOFTHEENTITYCONCERNED
NALNEGOTIATIONSACCORDINGTORESULTSOFDUEDILI
GENCE
CLOSINGTHETRANSACTIONkEXECUTINGACONTRACT

M&A
7HATMAKESTHETRANSACTIONEASIERANDSOMETIMES
DETERMINESITSSUCCESSISTHECHOICEOFTHERIGHTAD
VISERSPARTNERS THAT WILL ND THE RIGHT ENTITY TO BE
TAKEN OVER AND WILL OBTAIN AN APPRAISAL BENECIAL
FORTHEBUYER
! CRUCIAL ELEMENT OF A SUCCESSFUL TRANSACTION IS THE
APPROPRIATEPERFORMANCEOFDUEDILIGENCEWHICHRE
QUIRESCOOPERATIONWITHHIGHLYCOMPETENTLEGALADVIS
ERSTAXADVISERSANDBUSINESSCONSULTANTS4HESEPEO
PLEWILLCONDUCTTHENECESSARYANALYSESANDDESCRIBE
ALLCIRCUMSTANCESCRUCIALTOTHEANALYSEDCOMPANYIN
ANALREPORT4HEABOVEACTIONSARENECESSARYTOIDEN
TIFYTHELEGALANDTAXHAZARDSINTHECOMPANYgSOPERA
TIONSANDTOVALIDATEFUTUREBUSINESSPLANS
4HE REPRESENTATION OF THE PARTIES CONSTITUTES PART OF
THEINVESTMENTCONTRACT3HARE0URCHASE!GREEMENT 
WHICH INCLUDES THE BASIC AGREEMENTS OF THE PARTIES
REPRESENTATIONSANDPROMISESOFTHEPRESENTOWNERS
CONTRACTUALPENALTIESANDCONDITIONSPRECEDENT
%NTITIES WHICH PERFORM THE MOST TAKEOVERS IN 0O
LANDINCLUDE
PRIVATEEQUITYFUNDS
COMPANIESBASEDINTHE%5
COMPANIES BASED OUTSIDE THE %5 WHICH EXPAND
INTOTHE%5MARKET
0OLISHBUSINESSENTITIESWHICHINCREASETHESCALEOF
THEIROPERATIONS
4HEMOSTCOMMONLYENCOUNTEREDBARRIERSFORINVES
TORSDURINGCOMPANYTAKEOVERSWHICHOFTENPREVENT
THEIMPLEMENTATIONOFEXPANSIONPLANSINCLUDE
INSUFCIENTKNOWLEDGEABOUTTHELOCALMARKETITS
STRUCTUREANDENTITIESOPERATINGONITDIFCULTIES
INNDINGPOTENTIALENTITIESTOBETAKENOVERPART
NERSFORCOOPERATION 
INSUFCIENTKNOWLEDGEOFTHELEGALANDTAXREALI
TIESINTHETARGETINVESTMENTCOUNTRY
INSUFCIENT KNOWLEDGE OF SOLUTIONS WHICH ALLOW
MORE PROTABLE ACQUISITIONS OF BUSINESS ENTITIES
WITH THE USE OF COMPANIES ALREADY OPERATING IN
THE3PECIAL%CONOMIC:ONES
IGNORANCEOFTHESPECICNEGOTIATIONPROCESSAND
LOCAL BUSINESS CULTURE RESULTING FROM CULTURAL DIF
FERENCES



IV.2.2.
Regulations governing
M&A
4HE RULES OF THE MERGERS AND ACQUISITIONS OF THE
COMPANIESHAVEBEENINCLUDEDINTHE0OLISHCODEOF
COMMERCIALCOMPANIES
#OMPANIES MAY MERGE WITH OTHER COMPANIES OR
PARTNERSHIPS HOWEVER A PARTNERSHIP MAY NOT BE
THE BIDDING PARTY OR THE NEWLY FORMED ONE 0ART
NERSHIPS MAY MERGE WITH OTHER PARTNERSHIPS ONLY
THROUGHFORMATIONOFACOMPANY
!MERGERMAYBEEFFECTEDTHROUGHTHE
TRANSFEROFALLASSETSOFACOMPANYORPARTNERSHIP
TO ANOTHER COMPANY IN EXCHANGE FOR THE SHARES
THATTHEBIDDINGCOMPANYISSUESTOTHESHAREHOLD
ERSORPARTNERSOFTHETARGETCOMPANYORPARTNER
SHIPMERGERBYTAKEOVER 
FORMATION OF A COMPANY TO WHICH THE ASSETS OF
ALLMERGINGCOMPANIESORPARTNERSHIPSDEVOLVEIN
EXCHANGEFORSHARESOFTHENEWCOMPANYMERGER
BYFORMATIONOFANEWCOMPANY 
4HE TARGET COMPANY PARTNERSHIP OR COMPANIES OR
PARTNERSHIPS MERGING BY THE FORMATION OF A NEW
COMPANYWILLBEDISSOLVEDWITHOUTCONDUCTINGLIQ
UIDATIONPROCEEDINGSONTHEDAYINWHICHTHEYARE
REMOVEDFROMTHEREGISTER
)TSHOULDBENOTEDTHATAPLANOFTHEMERGEROFTHE
COMPANIESREQUIRESAWRITTENACCORDBETWEENTHOSE
MERGINGCOMPANIES
!S OF THE DAY OF MERGER THE BIDDING COMPANY OR
THENEWLYFORMEDCOMPANYTAKESALLRIGHTSANDDU
TIESOFTHETARGETCOMPANYORPARTNERSHIPMERGING
BYFORMATIONOFANEWCOMPANY)NPARTICULARTHE
BIDDING COMPANY OR THE NEWLY FORMED COMPANY
WILL TAKE OVER ANY PERMITS CONCESSIONS AND RELIEFS
GRANTED TO THE TARGET COMPANY OR PARTNERSHIP OR
ANY OF THE COMPANIES OR PARTNERSHIPS MERGING BY
FORMATION OF A NEW COMPANY UNLESS OTHERWISE
PROVIDEDINTHECOMMERCIALCOMPANIESCODEORTHE
DECISION ON GRANTING THE PERMIT GIVEN CONSENT OR
RELIEF 

M&A
-ERGERSHAVEANEFFECTONTHETERRITORYOF0OLAND
AND THE TURNOVER OF THE INVOLVED ENTERPRISES THAT
EXCEED A CERTAIN AMOUNT IS COVERED BY THE INITIAL
CONTROLOFTHE0RESIDENTOFTHE/FCEOF#OMPETI
TIONAND#ONSUMER0ROTECTION





IV.3.

Public Private
Partnership (PPP)
0UBLIC PRIVATE PARTNERSHIPS 000 ARE INSTITUTIONS
OVER WHICH STATE LOCAL AUTHORITIES CAN WORK TO
GETHER WITH PRIVATE INVESTORS TO ACHIEVE COMMON
GOALSINANEFFECTIVEACCELERATEDANDSIMPLEWAY
000@S PROMOTE GROWTH BECAUSE MORE INVESTMENT
PROJECTSCANBECOMPLETEDATTHESAMETIME
!,EGALACTWHICHSETSOUTTHERULESOFCOOPERATION
BETWEENPUBLICAUTHORITIESANDPRIVATEINSTITUTIONS
IS AN !CT ON 0UBLIC 0RIVATE 0ARTNERSHIP DATED TH
$ECEMBER  4HIS ACT HAS BECOME PART OF THE
TOOLSWHICHALREADYFUNCTIONINTHE0OLISHLEGALSYS
TEMCREATINGACOHESIVEWHOLE
4HE000!CTREGARDSTHEBODIESWHICHMAYBECON
SIDEREDASPUBLICENTITIESIN!RT3ECTOBE
APUBLICNANCEENTITYASDENEDBYTHEREGULA
TIONSONPUBLICNANCE
OTHERLEGALPERSONDENEDINTHE000!CT 
4AKING THE ABOVE INTO CONSIDERATION WE CAN ENU
MERATESOMEOFTHEENTITIESTHATFULLTHEREQUIRE
MENTS OF THE STATUTE TO BE REGARDED AS PUBLIC EN
TITIES INCLUDING THE ORGANS OF PUBLIC AUTHORITIES
INCLUDING ORGANS OF GOVERNMENT ADMINISTRATION
STATE CONTROL LAW ENFORCEMENT BODIES AND THEIR
ASSOCIATIONS MUNICIPALITY COUNTRY AND PROVINCIAL
AUTHORITIESENTITIESNANCEDBYTHESTATEANDTHE



LOCAL GOVERNMENT INCLUDING OTHER CENTRAL OR LOCAL

STATE LEGAL ENTITIES CREATED UNDER SEPARATE LEGISLA
TION FOR THE PURPOSE OF PERFORMING PUBLIC TASKS 
WITHTHEEXCLUSIONOFENTERPRISESBANKSANDCOM
MERCIALCOMPANIES
-OREOVER THE 000 !CT HAS INTRODUCED IMPROVE
MENTSCONCERNINGADMINISTERINGOFREALPROPERTIES
SUCHAS
THEPOSSIBILITYOFTHEASSIGNMENTOFAPROPERTYTO
APRIVATEPARTNERORSPECIALPURPOSEVEHICLEWITH
OUTHOLDINGATENDEROFTHE!CTON2EAL0ROPERTY
-ANAGEMENT 
THEPOSSIBILITYOFSALEWITHADISCOUNT
)N ORDER TO CARRY OUT AN INVESTMENT PROJECT UNDER
THE 000 FORMULA A PUBLIC ENTITY AND PRIVATE PART
NERMAYESTABLISHACAPITALBASEDCOMPANYALIM
ITEDPARTNERSHIPORALIMITEDJOINT STOCKPARTNERSHIP
0UBLIC0RIVATE0ARTNERSHIP#OMPANY 4HISISASPE
CIALPURPOSEVEHICLETHESCOPEOFWHICHISPROVIDED
INTHE000CONTRACTOFTHE000!CT $UETOTHISFACT
ANYAMENDMENTSTOTHECONTRACTOROFTHEARTICLES
OFASSOCIATIONSWHICHMUSTFALLWITHINTHESCOPEARE
SETOUTINTHE000CONTRACT

Public Private Partnership (PPP)

!NEXEMPLARYMODELOFCOOPERATIONBETWEENPUBLICANDPRIVATEPARTNERS

02)6!4%
0!24.%2
02/0/3)4)/./&4(%
00002/*%#4
0%2-)33)/.&/2
2%!,):!4)/.
/&4(%00002/*%#4

-).)34%2
/&&).!.#%

05",)#
0!24.%2

!.!,93)3/&4(%
02/*%#4

).&/2-!4)/./.4(%
00002/*%#4$!93

-).)34%2/&
%#/./-9



Poniatowski Bridge
in Warszawa




IV.4.

Important regulations

IV.4.1.
Polish trade
regulations

OF(YGIENE.ARODOWY)NSTYTUT:DROWIA0UBLICZNEGO
k0ASTWOWY:AKAD(IGIENY 

!SACONSEQUENCEOFACCESSIONTOTHE%5STRUCTURES
0OLANDHASBEENREQUIREDTOFOLLOW%UROPEANTRADE
REGULATIONS AND TO REPLACE ITS DOMESTIC REGIME IN
REGARDTOTHETRADEREGULATIONS

IV.4.1.2. Customs tariffs

/NCE APPROVAL HAS BEEN GRANTED THE GOODS MAY

BEIMPORTEDTO0OLAND(OWEVERIFALICENSEHASAL
READYBEENISSUEDINANOTHER%5COUNTRYTHEDOCU
MENTISVALIDINEVERYSTATETHATISAMEMBERTO%5

IV.4.1.1. Import/export
licensing
4HEMOSTCOMMONQUESTIONSINREFERENCETOTHEIM
PORTANDEXPORTOFGOODSTOFROM0OLANDARELICENS
ESTHATMIGHTBEREQUIREDIFITISNOTLOCALIMPORT
&ORTHEPURPOSEOFTHISSECTIONLOCALIMPORTMEANS
IMPORTWITHINTHE%UROPEAN5NIONSTATES
#!0 #OMMON !GRICULTURAL 0OLICY IMPORT LICENSES
ARE REQUIRED FOR SEVERAL PRODUCTS IMPORTED FROM
NON %5 COUNTRIES INTO ANY COUNTRY WITHIN THE
%5 3UCH IMPORT LICENSES OFTEN REFERRED TO AS THE
!'2)-#ERTICATESAREISSUEDIN0OLANDBYTHE!G
RICULTURAL-ARKET!GENCY!GENCJA2YNKU2OLNEGO 

4HE#USTOMS3ERVICE3UBA#ELNA HASANOFCIAL
4ARIFF"ROWSERAMODULEOFTHE)NTEGRATED4ARIFF3YS
TEMk)3:4!2 THATPROVIDESINFORMATIONONTARIFFS
OF GOODS IN INTERNATIONAL TRADE 4HE "ROWSER CON
TAINS DATA FROM THE 4!2)# SYSTEM GOODS NOMEN
CLATURE DUTY RATES RESTRICTIONS TARIFF QUOTAS TARIFF
CEILINGS AND SUSPENSIONS AS WELL AS NATIONAL PRO
VISIONS 6!4 EXCISE TAX RESTRICTIONS AND NON TARIFF
MEASURES 4HE"ROWSERISMAINTAINEDBYTHE#US
TOMS$EPARTMENTOFTHE-INISTRYOF&INANCESWITHIN
THEFRAMEWORKOFTHE)NTEGRATED#USTOMS4ARIFF)N
FORMATION3YSTEMk)3:4!24HE"ROWSERPROVIDES
ALSODETAILEDINFORMATIONCONCERNINGTHECOMMOD
ITY TURNOVER TO #USTOMS !DMINISTRATION AND TO ALL
THOSECONCERNINGTHATISSUE

IV.4.1.3. Customs procedures

4HEPRINCIPALROLESOFTHE#USTOMS3ERVICEINCLUDE

!N EXAMPLE OF ANOTHER CERTICATES ARE APPROVALS

THAT MUST BE ISSUED PRIOR TO THE INTRODUCTION OF
GOODSTOTHE0OLISHMARKET4HISAPPLIESTOTHEIM
PORTERSOFPRODUCTSTHATARENEWTOTHE0OLISHMAR
KETWHOMUSTREQUESTPRODUCTAPPROVALFROMTHE
.ATIONAL)NSTITUTEOF0UBLIC(EALTHk3TATE)NSTITUTE



EXERCISING CUSTOMS CONTROL ON THE INTERNATIONAL

COMMERCIALEXCHANGE
CALCULATING AND COLLECTING CUSTOMS DUTIES AND
TAXES

Important regulations
UNDERTAKING STEPS AGAINST SMUGGLING AND COUN
TERACTINGCUSTOMSFRAUD
7HILEPERFORMINGTHESEROLESTHE#USTOMS3ERVICE
MUST FULLL A SERIES OF DUTIES THE MOST IMPORTANT
APARTFROMTHESCALFUNCTIONISTHEPROTECTIONOF
 NATIONAL INDUSTRY k AGAINST GOODS WHICH WOULD
ADVERSELYAFFECTTHECONDITIONSOFCOMPETITIONIN
THECOUNTRY
NATURALENVIRONMENTkAGAINSTENTRYOFHAZARDOUS
SUBSTANCESANDMICRO ORGANISMS
WORLDFAUNAANDORAkAGAINSTILLEGALPREDATORY
CIRCULATIONOFENDANGEREDSPECIES
 CONSUMERS k AGAINST THE ENTRY INTO THE MARKET
GOODS WHICH ARE SUBSTANDARD WITH RELATION TO
0OLISHNORMSORWHOSEPERIODOFUSEHASEXPIRED
SOCIETYkAGAINSTTHEENTRYOFGOODSITEMSORAP
PLIANCES WHICH ARE HAZARDOUS TO LIFE HEALTH AND
SAFETYOFCITIZENSORWOULDJEOPARDISETHECOUNTRYgS
SECURITYEGWEAPONSPARALYZINGGASESETC 
 THE 3TATE k AGAINST THE LOSS OF CULTURAL HERITAGE
PRIMARILY AGAINST THE EXPORTATION OF GOODS WITH
CULTURALVALUE 
AUTHORS ARTISTS INDUSTRIAL AND COMMERCIAL RIGHTS
OWNERS k AGAINST INFRINGEMENT OF INTELLECTUAL
PROPERTYRIGHTSTRADEMARKANDPATENTRIGHTSETC
ANDCONTROLTHEAREAOF
THE3TATEgSCUSTOMSPOLICYINSTRUMENTSREGULATING
THETARGETSANDVOLUMESOFINTERNATIONALTRADEEG
MONITORINGTHEEXECUTIONOFCUSTOMSQUOTAS 
THE ENFORCEMENT OF NATIONAL AND INTERNATIONAL
REGULATIONS RELATING TO PROHIBITIONS AND RESTRIC
TIONSINTHEINTERNATIONALTRADETHEENFORCEMENT
OF REGULATIONS REGARDING PERMISSIBLE LOAD OF VE
HICLES TO ENSURE PROPER USE OF ROADS BY CARRIERS
AND THE ENFORCEMENT OF AGREEMENTS CONCERNING
CUSTOMSPREVENTIONWITH0OLANDBEINGAPARTY
FOREIGNCURRENCYCONTROLINCLUDINGCOMBATINGSO
CALLED MONEY LAUNDERING )N ORDER TO DISCHARGE
THE ABOVE DESCRIBED ROLES AND RESPONSIBILITIES
THE #USTOMS 3ERVICE CO OPERATES WITH THE OTHER
3TATEgS AUTHORITIES SUCH AS THE 0OLICE BORDER
CONTROL GENERAL CUSTOMS INSPECTORATE AND TAX
AUTHORITIES!LSOINCLUDEDINTHISARECUSTOMSAND
INVESTIGATIONSERVICESFROMOTHERCOUNTRIESCOM
MERCIALORGANISATIONSRESEARCHANDSCIENTICINSTI
TUTESUNIVERSITIESANDSIMILARORGANISATIONS
4HE IMPORT OF INFRINGING PRODUCTS MAY BE BLOCKED
THROUGHCOOPERATIONWITHCUSTOMSOFCIALSINSPECIAL
PROCEDURESTHATWEREPROVIDEDFORBYTHE2EGULATION



OF THE #OUNCIL OF -INISTERS ON ND &EBRUARY 

4HIS CONSIDERS THE PROCEDURE AND OPERATING PRINCI
PLESFOR#USTOMS!UTHORITIESFORWITHHOLDINGGOODS
IN THE CASE OF THE SUSPECTED VIOLATION OF PROVISIONS
OF INTELLECTUAL COMMERCIAL AND INDUSTRIAL PROPERTY
!SARESULTOF%5ACCESSION%5CUSTOMSLAWSAPPLY
DIRECTLYTO0OLAND)NPARTICULARTHE#OUNCIL2EGULA
TION%# OFND*ULYCONCERNING
CUSTOMSACTIONAGAINSTGOODSSUSPECTEDOFINFRING
INGCERTAININTELLECTUALPROPERTYRIGHTSANDTHEMEAS
URESTOBETAKENAGAINSTGOODSWEREFOUNDTOHAVE
INFRINGEDSUCHRIGHTS

IV.4.2. Currency and

exchange controls
4HE MAIN PURPOSE OF FOREIGN EXCHANGE LAW IS TO
PROTECTTHESOCALLEDfFOREIGNEXCHANGEINTERESTfOF
THE3TATE!FTERTHETURMOILOFTHEPASTDECADEAND
THESPATEOFCURRENCYCRISESOCCURRINGALMOSTSIMUL
TANEOUSLYINDIFFERENTPARTSOFTHEWORLDPROTECTING
THISINTERESTSHOULDMEANBEINGABLETOPREVENTANY
NEGATIVETRENDSWHICHCOULDRESULTINACRISIS!NOTH
ERFUNCTIONOFFOREIGNEXCHANGELAWISTOINTRODUCE
MECHANISMSWHICHIFACRISISDOESHAPPENCREATE
ADMINISTRATIVEBARRIERSTOCAPITALOUTOW
!FTERTHEREVISIONOFLAWIN0OLANDATTHEBEGINNING
OF  THE PARTIES CAN CHOOSE THEIR CONTRACT OF
PAYMENTINACURRENCYOTHERTHAN0OLISHZLOTY4HIS
ISANIMPORTANTDIFFERENCEBETWEENTHEOLDREGULA
TIONSIN0OLISHLAWWHICHSTATEDTHATRESIDENTSCAN
PAYINACURRENCYOTHERTHAN0OLISHZLOTYONLYWITH
THEAPPROVALOFTHE0OLISH.ATIONAL"ANK."0 

IV.4.3.
Competition law
#OMPETITIONLAWISBASEDONTHE!CTOFTH&EBRU
ARYONCOMPETITIONANDCONSUMERPROTECTION
4HEMOSTIMPORTANTACTIONSFORBIDDENTHROUGHTHIS
LAWARE

Important regulations
CONCLUSION OF ILLEGAL COMPETITION RESTRICTING AGREE
MENTS!RT BY
DIRECTLYORINDIRECTLYXINGPRICES
LIMITINGORCONTROLLINGPRODUCTIONORSALESSHARING
SALESORPURCHASEMARKETS
APPLYINGBURDENSOMEORDISSIMILARTERMSANDCON
DITIONS IN EQUIVALENT CONTRACTS WITH OTHER TRADING
PARTIES THEREBY DIFFERENTIATING THE CONDITIONS OF
COMPETITIONFORTHESEPARTIES
MAKING THE CONCLUSION OF CONTRACTS CONDITIONAL
UPON THE ACCEPTANCE OR RENDERING BY THE OTHER
PARTIESOFSUPPLEMENTARYPERFORMANCEWHICHHAS
NOTHINGTODOWITHTHESUBJECTOFTHECONTRACTAND
HASNOCUSTOMARYRELATIONTHERETO
RESTRICTINGACCESSTOORELIMINATINGFROMTHEMAR
KETENTERPRISESNOTCOVEREDBYTHEAGREEMENT
AGREEINGTERMSANDCONDITIONSOFBIDSBYENTERPRIS
ESENTERINGTHETENDERORBYTHOSEENTERPRISESAND
THEPARTYORGANISINGTHETENDERINPARTICULARWITH
RESPECTTOTHESCOPEOFTHEWORKSORTHEPRICE
ABUSINGADOMINANTMARKETPOSITION!RT INPAR
TICULARBY

AND GUIDELINES OF THE 0RESIDENT AS WELL AS COURTSg

DECISIONSISSUEDPURSUANTTOAPPEALSAGAINSTTHEDE
CISIONSOFTHE0RESIDENTAREPUBLISHEDINTHE/FCIAL
*OURNALOFTHE/FCE
4HEADMINISTRATIVEDECISIONSOFTHE0RESIDENTOFTHE
/FCERELATEDTOCOMPETITIONLAWMAYBEAPPEALED
AGAINST TO A SPECIAL COURT SET UP WITHIN THE STRUC
TURESOFTHE2EGIONAL#OURTOF7ARSAWTHE#OM
PETITION AND #ONSUMER 0ROTECTION #OURT  !PPEAL
APPLICATIONSMUSTBELEDWITHINTWOWEEKSOFTHE
DATEOFRECEIPTOFTHERELEVANTDECISION
4HE #OMPETITION AND #ONSUMER 0ROTECTION #OURT
DECISIONS MAY BE FURTHER APPEALED TO THE 3UPREME
#OURTWHATEVERTHEAMOUNTINVOLVEDBUTONLYFOR
QUESTIONS OF LAW IN 0OLISH hKASACJAi  4HE APPEAL
MUSTBELEDWITHINDAYSFOLLOWINGTHEDATEOF
RECEIPTOFTHERULINGOFTHE#OURT
!SYSTEMOFNESISIMPOSEDBYTHE0RESIDENTOFTHE
/FCEFORFAILURETOCOMPLYWITHCOMPETITIONLAW
4HEPENALTIESAREDISCRETIONARYANDMAYRANGEFROM

DIRECTLY OR INDIRECTLY IMPOSING UNFAIR EXCESSIVELY

HIGHORUNJUSTIABLYLOW PRICES
LIMITINGPRODUCTIONSALESORTECHNICALDEVELOPMENT
COUNTERACTINGTHEFORMATIONOFCONDITIONSNECESSARY
FORTHECREATIONORDEVELOPMENTOFCOMPETITION
IMPOSING BURDENSOME TERMS AND CONDITIONS OF
CONTRACTS RESULTING IN UNJUSTIED PROTS FOR THE
ENTERPRISE
3OURCE /FCIAL HOMEPAGE OF /FCE OF #OMPETITION AND
#ONSUMER0ROTECTIONUOKIKGOVPL

UPTOOFTHETOTALANNUALREVENUESOFANEN
TITYINCASETHISENTITYENTERSINTOAGREEMENTSWHICH
AIM TO PREVENT RESTRICT OR DISTORT COMPETITION
ABUSES ITS DOMINANT POSITION OR PROCEEDS WITH
A MERGER BEFORE OBTAINING A CLEARANCE DECISION
FROMTHE0RESIDENTOFTHE/FCE
THE0,.EQUIVALENTOFUPTOMILLION%52IFNO
INFORMATIONORINCORRECTINFORMATIONWASPROVIDED
DURING THE MERGER OR ANTI MONOPOLY INSPECTION
PROCEEDINGS
THE0,.EQUIVALENTOFUPTO%52FOREACH
DAYOFDELAYINCOMPLIANCEWITHADECISIONOFTHE
0RESIDENTOFTHE/FCEORTHERULINGOFTHE#OMPE
TITIONAND#ONSUMER0ROTECTION#OURT
!SOFTHETH*ANUARYALSOMANAGERSASWELL
OF A COMPANY BREACHING THE PROHIBITION ON CON
CLUDINGAGREEMENTSRESTRICTINGPROHIBITIONMAYFACE
PENALTYOFUPTO0,.)NADDITIONCOM
PETITION LAW PROVIDES FOR PENALTIES WHICH MAY BE
IMPOSEDBYTHE0RESIDENTOFTHE/FCEONANATURAL
PERSONACTINGASAMANAGERORBEINGAMEMBEROF
AMANAGINGBODYOFANENTITYORAGROUPOFENTITIES
UPTOAMAXIMUMOFTIMESTHEAVERAGEREMU
NERATION FORBREACHINGTHELAW

#OMPETITIONLAWISENFORCEDBYTHECENTRALADMIN
ISTRATIVEBODYTHE0RESIDENTOFTHE/FCEOF#OM
PETITION AND #ONSUMER 0ROTECTION 0REZES 5RZDU
/CHRONY+ONKURENCJII+OSUMENTW 4HEDECISIONS



&INESIMPOSEDBYTHE0RESIDENTOFTHE/FCEMAYBE
APPEALED TO THE #OMPETITION AND #ONSUMER 0RO
TECTION #OURT 3UCH NES CONSTITUTE THE REVENUES

Important regulations
OF THE 3TATE BUDGET AND MAY BE COLLECTED PURSU
ANTTOEXECUTORYADMINISTRATIVEPROCEEDINGSTHESE
PROCEEDINGS CONSIST OF A FORCED SEIZURE OF ASSETS
ANDMEASURESRELATEDTOBANKACCOUNTSANDOTHER
PROPERTIESOFTHEDEBTOR 
0OLISHCOMPETITIONPROTECTIONLEGISLATIONISEFCIENT
ANDITSENFORCEMENTMECHANISMSFUNCTIONINASAT
ISFACTORY MANNER %5 REGULATIONS WHICH APPLY DI
RECTLYIN0OLANDASOFST-AYSHOULDFURTHER
STRENGTHENTHEEFFECTIVENESSOFTHE0OLISHCOMPETI
TION PROTECTION AUTHORITIES 4HIS IS DUE TO THE FACT
THAT THE 0RESIDENT OF THE /FCE WILL CLOSELY COOP
ERATEWITHTHE#OMMISSIONREGARDINGTHEENFORCE
MENTOFCOMPETITIONLAWWITHIN0OLANDANDTHE%5
ASAWHOLE

IV.4.4.
Regulations for
entering into contracts
#ONTRACTS IN 0OLAND ARE BASED ON THE RULES OF THE
PARTYgSAUTONOMY4HISISTHEMAINREGULATIONFORCON
TRACTUAL LAW IN THE 0OLISH #IVIL #ODE #ONTRACT LAW
DEALS WITH PROMISES WHICH CREATE LEGAL RIGHTS AND
OBLIGATIONS 0OLISH LAW DOES NOT REQUIRE THE SAME
CONSIDERATIONASCOMMON LAWSYSTEMS)NTHE0OLISH
LEGAL REGIME ALL PARTIES MUST AGREE THE ESSENTIAL
TERMSINCLUDINGTHEPRICEANDTHESUBJECTMATTEROF
THECONTRACT.EVERTHELESSPARTIESAREUSEDTOHAVE
WRITTENAGREEMENTSINORDERTOAVOIDANYFUTUREDIS
PUTESANDTOPROTECTTHEIRINTERESTSBYSEARCHINGFOR
AfGOLDENMIDDLESOLUTIONg#ONTRACTSIN0OLANDMAY
ALSOBEMADEBYTHEWORDOFMOUTH(OWEVERTHERE
AREEXCEPTIONSTOTHISRULESUCHASREALESTATESALES
OR THE SALE OF SHARES IN A COMPANY WHICH REQUIRES
ACTINGINFRONTOFTHENOTARYINPUBLIC
/THERLAWSOURCES
4HEREAREALSOMANYPRIVATEINTERNATIONALLAWREGULA
TIONSTHATHAVEBEENRATIEDANDREMAINAPPLICABLE
IN 0OLAND EG THE #OUNCIL 2EGULATION .O 
OF ND $ECEMBER  THE 5NITED .ATIONS #ON
VENTION ON #ONTRACTS FOR THE )NTERNATIONAL 3ALE OF
'OODSk#)3'OFTH!PRILANDTHE.EW9ORK
#ONVENTIONOFONTHE,IMITATION0ERIODINTHE
)NTERNATIONAL3ALEOF'OODS



#ONTRACTSBETWEEN0OLISHANDFOREIGNCOMPANIESARE
COVEREDBYTHE!CTON)NTERNATIONAL0RIVATE,AWOF
.OVEMBER(OWEVERTHE!CTINREGARDTOTHE
LAWAPPLICABLEWILLMOSTPROBABLEREDIRECTTHEPARTIES
TOINTERNATIONALREGULATIONTHAT0OLANDHASRATIED

IV.4.5. CO2 emission

allowances
!SOF!PRIL#ARBONDIOXIDE#/ HADACON
CENTRATIONOFPPMPARTSPERMILLION WITHIN
THE %ARTHgS ATMOSPHERE BY VOLUME !S A RESULT OF
$IRECTIVE %# OF THE %UROPEAN 0ARLIAMENT
AND#OUNCILAGREENHOUSEGASTRADINGSYSTEMWAS
CREATEDINTHE%UROPEAN5NIONWHEREBYTHEGOALS
SETFORTHINTHE+YOTO0ROTOCOLCOULDBEMOREEAS
ILY ACHIEVED 4HIS WAS APPROVED BY THE #OUNCIL IN
FOLLOWINGTHECONCLUSIONOFANINTER GOVERN
MENTALAGREEMENTINTHESAMEYEAR
4HE $IRECTIVE CREATES THE LEGAL MEANS WITH WHICH
TO FULL THE +YOTO 0ROTOCOLgS GOAL TO DECREASE THE
EMISSIONOFGREENHOUSEGASESBYIMPLEMENTINGAN
EFFECTIVE%UROPEANGREENHOUSEGASALLOWANCETRAD
INGSYSTEM
4HE 0OLISH PARLIAMENT ADOPTED A NATIONAL GREEN
HOUSEGASEMISSIONTRADINGSYSTEMTHEf''%43g ON
RD$ECEMBER#URRENTLY''%43ISOPERATING
ONTHEBASISOFTHEACTOF!PRILONGREEN
HOUSEGASEMISSIONALLOWANCETRADINGSYSTEM4HE
EMISSIONALLOWANCETRADINGSYSTEMREFFERSTOCOVER
ING ALL ASPECTS OF INDUSTRY IN THE ENERGY THERMAL
PETROCHEMICAL AND PAPER SECTOR AS WELL AS IGHT
OPERATIONS 0URSUANT TO THE ''%43 THE AFFECTED
ENTITIESAREREQUIREDTOAPPLYFORAGREENHOUSEGAS
EMISSIONPERMITWHICHWILLENTITLEEACHEMITTERTO
EMIT A DENED AMOUNT OF SUCH GREENHOUSE GASES
INTOTHEATMOSPHERE4HEHOLDEROFAPERMITWILLBE
ENTITLEDTOEMITGASESINTOTHEENVIRONMENTUPTOITS
ASSIGNEDLIMIT)FSUCHAHOLDERSOCHOOSESTHEYMAY
ALSOSELLANYUNUSEDGASEMISSIONALLOWANCESONTHE
OPENMARKETTOOTHERGASEMITTERSLIKELYTOEXCEED
THEIRASSIGNEDALLOWANCES
!GASEMISSIONPERMITWILLBEISSUEDBYEITHERTHE
COUNTY CHIEF EXECUTIVE OR PROVINCIAL GOVERNOR IN
RESPONSE TO RECEIVING AN APPLICANTgS MOTION 4HE
-INISTER OF %NVIRONMENT 0ROTECTION WILL SUPERVISE

Important regulations
THE TRADING SYSTEM WHILE THE .ATIONAL #ENTRE FOR
%MISSIONS -ANAGEMENT +/"I:% WILL FUNCTION AS
ADMINISTRATOR
5NDER THE +YOTO 0ROTOCOL COUNTRIES WITH UNUSED
EMISSION ALLOWANCES MAY SELL THEIR UNUSED ALLOW
ANCES4HISRIGHTTOSELLMAYALSOSERVEASANINCEN
TIVE TO PRIVATE BUSINESS TO INVEST IN MODERN ENVI
RONMENTALLY FRIENDLY TECHNOLOGY !N ENTITY WHICH
EMITS #/ INTO THE ATMOSPHERE WITHOUT HAVING
SUFCIENTEMISSIONALLOWANCESHASTOPAYAPENALTY
AMOUNTING TO %52  FOR EACH ALLOWANCE WHICH
ITDOESNOTPOSSESS4HEPENALTYISIMPOSEDBYTHE
0ROVINCIAL%NVIRONMENTAL0ROTECTION)NSPECTOR%MIS
SIONALLOWANCESAREVALIDONLYWITHINAPARTICULARPE
RIODOFTIME!FTERITSLAPSEALLOWANCESARESUBJECT
TOANNULMENT
4HE %UROPEAN 5NION %MISSION 4RADING 3YSTEM %5
%43 ISTHELARGESTMULTI NATIONALEMISSIONSTRADING



SCHEME IN THE WORLD AND IS A MAJOR PILLAR OF %5

CLIMATEPOLICY4HE%43CURRENTLYCOVERSMORETHAN
 INSTALLATIONS IN THE ENERGY AND INDUSTRIAL
SECTORSWHICHARECOLLECTIVELYRESPONSIBLEFORCLOSE
TO HALF OF THE %5gS #/ EMISSIONS AND  OF ITS
TOTALGREENHOUSEGASEMISSIONS
5NDERTHE%5%43LARGEEMITTERSOFCARBONDIOXIDE
WITHIN THE %5 MUST MONITOR AND ANNUALLY REPORT
THEIR#/EMISSIONSANDTHEYAREOBLIGEDEVERYYEAR
TORETURNANAMOUNTOFEMISSIONALLOWANCESTOTHE
GOVERNMENT EQUIVALENT TO THEIR #/ EMISSIONS IN
THAT YEAR )N ORDER TO NEUTRALISE ANNUAL IRREGULARI
TIES IN #/ EMISSION LEVELS THAT MAY OCCUR DUE
TO EXTREME WEATHER EVENTS SUCH AS HARSH WINTERS
ORVERYHOTSUMMERS EMISSIONALLOWANCESFORANY
PLANTOPERATORSUBJECTTOTHE%5%43AREGIVENOUT
FORASEQUENCEOFSEVERALYEARSATONCE



IV.5.

Securing business

IV.5.1.
Property rights
/N ND !UGUST  A NEW )NDUSTRIAL 0ROPERTY
,AWCAMEINTOFORCE4HISREPLACEDTHEFOURPREVI
OUSITEMSOFLEGISLATION,AWSON)NVENTIVE!CTIVITY
4RADE-ARKS)NTEGRATED#IRCUIT0ATENTSANDONTHE
0ATENT/FCE 4HENEWLEGISLATIONDOESNOTSIGNI
CANTLYCHANGETHEREGULATIONSAPPLIEDTOINDUSTRIAL
ANDCOMMERCIALINTELLECTUALPROPERTYRIGHTS

IV.5.1.1. Patent legislation

0OLAND IS A MEMBER OF THE 3TOCKHOLM 4EXT OF THE
0ARIS #ONVENTION ON THE 0ROTECTION OF )NDUSTRIAL
0ROPERTY3INCE0OLANDHASALSOBEENASIGNA
TORYTOTHE0ATENT #OOPERATION4REATY4HE)NDUSTRIAL
0ROPERTY,AWREGULATESTHEPROTECTIONOFINVENTIONS
BYPATENTSANDUTILITYMODELS!PPLICATIONSARELED
WITH THE 0OLISH 0ATENT /FCE 0OLISH PATENT ATTOR
NEYSMUSTREPRESENTFOREIGNAPPLICANTS
2EGISTERED PATENTS ARE VALID FOR  YEARS FROM THE
DATEOFLING4HEPROTECTIONRIGHTOFAUTILITYMODEL
IS VALID FOR  YEARS 4O KEEP A PATENT OR PROTEC
TIONRIGHTINFORCEANNUITIESARETOBEPAID0ATENTS
AREGRANTEDAFTERANEXAMINATIONASTOWHETHERAN
INVENTION IS NEW INVOLVES ORIGINAL RESEARCH AND IS
COMMERCIALLY VIABLE ! UTILITY MODEL IS TO BE NEW
ANDUSEFULANDTORELATETOTHESHAPECONSTRUCTION
OR ARRANGEMENT OF AN OBJECT THAT HAS A DURABLE
FORM !PPLICATIONS ARE PUBLISHED  MONTHS FROM
THEPRIORITYDATE



4HE PATENT OR PROTECTION RIGHT OF A UTILITY MODEL

GIVES THE OWNER THE EXCLUSIVE RIGHT TO EXPLOIT THE
INVENTIONONTHETERRITORYOF0OLANDWHILEITISVALID
4HIS EXCLUSIVE RIGHT CANNOT HOWEVER BE ABUSED
SPECICALLY BY APPLYING PROHIBITED MONOPOLISTIC
PRACTICES)NPARTICULARPATENTRIGHTSWILLNOTAPPLY
WHEREITSEXPLOITATIONBYATHIRDPARTYISNECESSARY
TOSATISFYADOMESTICMARKETNEED!LSOSPECICALLY
WHENTHEPUBLICINTERESTREQUIRESSOANDSUPPLYAND
ORQUALITYOFTHEPRODUCTCONCERNEDISINSUFCIENT
ANDOR ITS PRICE IS UNDULY INATED 4HIS PROVISION
HOWEVERDOESNOTAPPLYINTHERSTTHREEYEARSFOL
LOWINGPATENTREGISTRATION
!BUSINGPATENTRIGHTSASWELLASPREVENTINGORELIMI
NATINGASTATEOFNATIONALEMERGENCYMAYBEREASON
ENOUGHTOAPPLYFORACOMPULSORYLICENSE4HEREARE
NOSPECIALTERMSONLICENSESFORTHIS4HEOWNEROF
APATENTOREXCLUSIVELICENSEHASTHERIGHTTOSUEFOR
ANINJUNCTIONONACCOUNTOFPROTSANDORDAMAG
ES#RIMINALPENALTIESAREFORESEENFORFALSEMARKING
ANDINFRINGEMENT-ARKINGPRODUCTSWITHAPATENT
NUMBERARECOMMONLYUSEDBUTNOTOBLIGATORY

IV.5.1.2. Trademarks
0OLAND IS A MEMBER OF THE -ADRID !GREEMENT
-ADRID !GREEMENT #ONCERNING THE )NTERNATIONAL
2EGISTRATIONOF-ARKS ONTHEREGISTRATIONOFTRADE
MARKSANDTHEPREVENTIONOFFALSEORDECEPTIVEIN
DICATIONSOFASOURCEOFGOODS3INCE0OLAND
HASALSOBEENAMEMBEROFTHE-ADRID!GREEMENT
ON THE INTERNATIONAL REGISTRATION OF TRADEMARKS )T
BECAME A MEMBER OF THE 0ROTOCOL FOR THIS !GREE
MENTINTHESPRINGOF4HEFOLLOWINGKINDSOF
MARKMAYBEREGISTERED

Securing business
TRADEMARK
SERVICEMARK
COLLECTIVEMARK
MUTUALQUALITYASSURANCETRADEMARK

MANUFACTURERSAMOUNTINGTOAMAXIMUMOFOF
THESALESINCOMEGENERATEDBYTHESEPRODUCTS

! REGISTERED TRADEMARK IS VALID FOR  YEARS FROM

THEDATEOFLINGUNLESSITISPROVEDTHATTHEMARK
HAS NOT BEEN USED FOR VE CONSECUTIVE YEARS 4HE
REGISTRATION MAY BE RENEWED FOR THE NEXT  YEAR
PERIOD )N THE CASE OF INFRINGEMENT THE PROPRIE
TOR OR LICENSEE CAN TAKE LEGAL STEPS 0ROTECTION IS
EXTENDEDTONAMESOFGEOGRAPHICALPLACESANDRE
GIONSWHERETHENAMEREFERSTOASPECICLOCALITYOR
AREAASSOCIATEDWITHAPARTICULARPRODUCTANDWHERE
THEREISAPARTICULARCHARACTERISTICOFTHEPRODUCTAS
SOCIATEDWITHTHENAME&OREIGNAPPLICANTSHAVETO
BEREPRESENTEDBYALOCALPATENTAGENTIN0OLAND

IV.5.1.3. Copyrights
#OPYRIGHTSIN0OLANDAREPROTECTEDBYTHE,AWON
#OPYRIGHTS AND 2IGHTS IN RELATION TO  &EBRUARY
WHICHWASSUBSTANTIALLYREVISEDIN*UNE
4HE NEW LAW MEETS CONTEMPORARY INTERNATIONAL
STANDARDSANDCORRESPONDSTOTHEPRINCIPLESOFFREE
TRADEININTELLECTUALPROPERTY
4HE SCOPE OF COPYRIGHT PROTECTION HAS BEEN CON
SIDERABLY BROADENED OF LATE 4HE NEW LAW COVERS
NOTONLYTHEPROTECTIONOFTRADITIONALLYUNDERSTOOD
AUTHORgS RIGHTS BUT ALSO RELATED RIGHTS 4HE LAW
PROVIDES FOR NEW RIGHTS AND NEW OWNERS OF THOSE
RIGHTS 4HEY ARE NOW ABLE TO DECIDE HOW THE OUT
COME OF THEIR WORK IS TO BE USED AND ARE ABLE TO
DERIVE NANCIAL BENETS FROM THIS OUTCOME 4HE
NEWOWNERSINCLUDEPRODUCERSOFSOUNDANDVIDEO
RECORDINGS 46 CHANNELS RADIO STATIONS AND ARTIST
PERFORMERS4HENEWLAWPROVIDESTHEPROTECTIONOF
INTELLECTUALPROPERTYINTHEAREAOFSCIENCETECHNOL
OGY AND MANUFACTURING INCLUDING COMPUTER PRO
GRAMS AND INDUSTRIAL DESIGNS ETC 4HE PROTECTION
MECHANISMOFCOMPUTERSOFTWAREISSIMILARTOTHAT
USEDIN%5COUNTRIES
4HE LAW ALSO PROVIDES FOR A GENERAL COMPENSATION
MECHANISM OF LOSSES INCURRED BY AUTHORS PERFORM
ERSANDPRODUCERSDUETOUNCONTROLLEDMASSREPRO
DUCTION FOR PERSONAL USE AT HOME  0RODUCERS AND
IMPORTERSOF6#2STAPERECORDERSOTHERAUDIOAND
VIDEOEQUIPMENTASWELLASCLEANTAPES#$SETC
MUSTPAYASURCHARGETOTHEARTISTSPERFORMERSAND



4HE NEW LAW GIVES GROUND FOR MORE EFCIENT PRO

CEDURES FOR ENFORCING COPYRIGHT PROTECTION )LLEGALLY
OBTAINEDBENETSMAYBECONSCATEDANDRETURNED
TO THE TRUE OWNER 4HE LAW ALSOENVISAGESPENALTIES
FORINFRINGEMENTOFINTELLECTUALPROPERTYRIGHTSBYNES
ANDEVENPRISONSENTENCESFORUPTOVEYEARS4HE
NEWLEGISLATIONHASCONSIDERABLYSTRENGTHENEDCOPY
RIGHTPROTECTIONIN0OLAND)THASALSOCONTRIBUTEDTO
CURTAILING PIRACY -EETING INTERNATIONAL STANDARDS
IN INTELLECTUAL RIGHTS PROTECTION CREATES APPROPRIATE
CONDITIONS FOR FOREIGN INVESTMENTS MAKING USE OF
PROPERTYRIGHTS

IV.5.2.
Product certification
0RODUCT#ONFORMITY#ERTICATIONTOUSEITSFULLTITLE
ISAPROCESSBYWHICHMANUFACTUREDPRODUCTSAREAS
SESSEDANDVERIEDASCONFORMINGTOSTATEDREQUIRE
MENTS 4HIS RESULTS IN THE ISSUE OF A STATEMENT OR
CERTICATEOFCONFORMITYANDNORMALLYAPPROVALTO
APPLYAMARKINDICATINGTHECONFORMITYOFTHEPROD
UCT#ERTICATIONMAYBEMANDATORYORVOLUNTARY
-ANDATORY CERTICATION APPLIES WHEN REQUIRED
BY EITHER NATIONAL OR INTERNATIONAL LAW 6OLUNTARY
SYSTEMS ARE BEING IMPLEMENTED BY SPECIFYING OR
GANISATIONSINORDERTOIMPROVETHEBUILDQUALITYOF
COMPONENTSTHATFORMANINTEGRALPARTOFALARGER
PRODUCT )N SIMPLE TERMS A MARK ON A PRODUCT IS
A FORM OF ASSURANCE THAT THE PRODUCT AND SYSTEM
USEDTOMANUFACTUREITALLMEETTHEREGULATORYRE
QUIREMENTS AND THE RELEVANT SPECICATIONS -ARKS
IN MANY DIFFERENT FORMATS ARE USED AND SOME ARE
MANDATORY/THERSARENOT
4HE UNDERLYING CERTICATION PROCESS MAY INVOLVE
VARIOUSTESTSANDPRODUCTIONQUALITYASSURANCEPRO
CEDURESANDWILLVARYINVALUEANDCOST0RODUCTCER
TICATION MARKS SIGNAL THAT A PRODUCT CONFORMS TO
ASPECICATIONSOITISIMPORTANTTOUNDERSTANDTHE
CONTENTOFTHESPECICATIONTOFULLYAPPRECIATETHE
VALUEOFTHEMARK
)N ACCORDANCE WITH %5 LAW IT IS VERY IMPORTANT TO
CERTIFYTHEPRODUCTWITHTHEf#%SIGNg4HISSYMBOL

Securing business
4HEVALUEOFTHE0OLISHPUBLICPROCUREMENTMARKETINTHEYEARS 
BN0,.









             
3OURCE4HE!NNUAL2EPORTOFTHE0UBLIC0ROCUREMENT/FCEFORTHEYEAR

IS PLACED BY THE PRODUCER ON HIS PRODUCT 4HE #%

SIGNCERTIESTHATTHEPRODUCTISCONSISTENTWITHALL
LAW REQUIREMENTS AND SAFETY STANDARDS 4HESE RE
QUIREMENTS ARE BASED ON OVER  %UROPEAN DIREC
TIVESEACHOFWHICHREGULATESAPOLICYFORANOTHER
PRODUCT4HEDIRECTIVESAREIMPLEMENTEDIN0OLAND
THROUGH THE LEGAL ACT OF ESTIMATION SYSTEMS FROM
TH !UGUST  )T IS IMPORTANT TO NOTICE THAT
WITHOUT A #% SIGN THE PRODUCT CANNOT BE USED
ACROSSTHE%5COUNTRIESNORIMPORTEDFROMOUTSIDE
THE%5
0RODUCTSWITHTHISMARKCANBEUSEDTHROUGHOUTTHE
%UROPEAN5NIONANDIN.ORWAY

IV.5.3. Public
procurement law
4HE 0OLISH PUBLIC PROCUREMENT LEGISLATION DATES
BACKTOWHENTHERST!CTON0UBLIC0ROCURE
MENTWASADOPTED4HE!CTWASAMENDEDSEVERAL
TIMESOVERTHEFOLLOWINGYEARSMAINLYWITHTHEAIM
OFCLARIFYINGITSRULESANDDENITIONSBROADENINGTHE
SCOPEOFAPPLICATIONANDMAKINGTHEPROCUREMENT
PROCESS MORE TRANSPARENT 4HE ADJUSTMENT OF THE
0OLISH PROCUREMENT PROVISIONS TO THE %5 REQUIRE
MENTSWASAMAJORFACTORINTHEPREPARATIONOFTHE
NEW LEGISLATION 4HE NEW 0UBLIC 0ROCUREMENT ,AW
WASADOPTEDONTH*ANUARYTOREPLACETHE
!CTOF)N!PRILAND!PRILTHE0UBLIC
0ROCUREMENT,AWWASLARGELYAMENDEDINORDERTO



IMPLEMENTTHEPROVISIONSOFTHE%5DIRECTIVES0UBLIC
PROCUREMENTLAWREGULATESTHEPURCHASINGBYPUB
LICSECTORAUTHORITIESOFCONTRACTSFORGOODSWORKS
OR SERVICES )T CONCERNS ORDERS FOR CONSTRUCTION
WORK SUPPLIES OR THE RENDERING OF SERVICES WHICH
ARE NANCED FROM THE STATE BUDGET OR FROM MU
NICIPALITIES4HE0UBLIC0ROCUREMENTLAWISDESIGNED
TOOPENUPTHE%5gSPUBLICPROCUREMENTMARKETTO
COMPETITION TO PREVENT fBUYING NATIONALg POLICIES
ANDTOPROMOTETHEFREEMOVEMENTOFGOODSAND
SERVICES4HEPUBLICPROCUREMENTASPECTSAREREGU
LATEDINTHE!CTON0UBLIC0ROCUREMENT,AWOFTH
*ANUARY  4HE ABOVEMENTIONED ACT STIPULATES
THEENTITIESWHICHAREOBLIGEDTOAPPLYANDFULLALL
OFITSREQUIREMENTS
)NACCORDANCEWITHTHEANNUALREPORTOFTHE0UBLIC
0ROCUREMENT/FCEFORTHEYEARTHEMARKET
VALUEOFTHE0UBLICPROCUREMENTAMOUNTSTO
BILLION 0,. )N COMPARISON TO THE  YEAR THE
EXPENSES ON PUBLIC PROCUREMENT INCREASED BY 
ANDCONSTITUTEDOFTHENATIONALGROSSPROD
UCTIN4HEREFORETHISPARTOF0OLISHLAWHASA
SIGNICANTROLEFOR0OLISHAND&OREIGNENTREPRENEURS
CONDUCTINGBUSINESSIN0OLAND
4HEACTDOESNOTAPPLYTOORDERSWHICHDONOTEX
CEED %52  IN VALUE )N !PRIL  THIS LIMIT
WASRAISEDFROM%52TO%52
0OLISH LAW PROVIDES SEVERAL PROCEDURES FOR THE
GRANTING OF A PUBLIC PROCUREMENT ORDER (OWEVER
TWO OF THESE ARE APPLIED IN MOST CASES NAMELY
UNLIMITED TENDER BIDDING AND LIMITED TENDER BID
DING4HEUNLIMITEDTENDERBIDDINGAPARTFROMTHE
LIMITEDTENDERFORMSTHEBASISOFPROCEDURE)NTHIS

Securing business
PROCEDUREALLTHEINTERESTEDCONTRACTORSMAYPLACE
THEIROFFERINRESPONSETOAPUBLICADVERTISEMENT)NTHE
LIMITEDTENDERBINDINGPROCEDURETHECONTRACTORSSEND
AN APPLICATION FOR ADMITTANCE TO PARTICIPATION IN THE
BIDDING 4HE OFFERS MAY BE SENT ONLY BY CONTRACTORS
WHICHHAVEBEENINVITEDTOSUBMITOFFERS&URTHERMORE
0OLISHLAWPROVIDESPROCEDURESASFOLLOWSNEGOTIATIONS
WITH ADVERTISEMENT NEGOTIATIONS WITHOUT ADVERTISE
MENT COMPETITIVE DIALOGUE ORDER WITH RESTRICTIONS
PRICEENQUIRYELECTRONICBIDDING(OWEVERTHOSEPRO
CEDURESMAYBEAPPLIEDINEXCEPTIONALSITUATIONS

ERSITUATIONSTHEREARENOSIMILARLIMITATIONSANDTHE
APPEALMAYBELODGEDAGAINSTANYILLEGALACTIONS

4HE CONTRACTOR OR SUPPLIER WHO ATTENDS IS BASICALLY

OBLIGEDTOPAYATENDERDEPOSITOFNOGREATERTHAN
OFTHEVALUEOFTHEPROCUREMENT4HEDEPOSITMAYBE
PAIDINCASH(OWEVERTHEBANKGUARANTEEINSURANCE
GUARANTEEBILLOFEXCHANGECONRMEDBYABANKAND
OTHERNANCIALGUARANTEESAREEXCEPTEDFROMTHISRULE

4HEPARTIESANDPARTICIPANTSOFTHEAPPEALPROCEDURE
MAYCOMPLAINTOTHECOURTAGAINSTTHE#HAMBERgSRUL
ING4HECOMPLAINTSHOULDBELODGEDWITHTHEDISTRICT
COURT COMPETENT FOR THE SEAT OR PLACE OF RESIDENCE
OFTHEAWARDINGENTITY4HECOURTSHALLFORTHWITHEX
AMINETHECOMPLAINTHOWEVERNOTLATERTHANWITHIN
ONEMONTHOFTHEDAYONWHICHTHECOMPLAINTWAS
RECEIVEDBYTHECOURT4HECONTRACTCANNOTBECLOSED
SOLONGASTHEAPPEALPROCEEDINGSARENOTNALISED

4HE ORDERING PARTY INCLUDES ALL OF THE ESSENTIAL ELE

MENTSINTHESPECICATIONWHICHARENECESSARYFORTHE
PRECISEDESCRIPTIONOFTHEORDEREDPRODUCTSORFORCAR
RYINGOUTADELIVERY
4HEBESTOFFERISCHOSENONTHEBASISOFCRITERIAFORE
SEENINTHESPECICATION4HEBESTPRICEWHICHISTHE
MOSTCOMMONINDICATORISNOTTHEONLYCRITERIONUSED
BY0OLISHAUTHORITIES6ERYOFTENTHEQUALITYFUNCTIONAL
ITYAPPLICATIONOFTHEBESTAVAILABLETECHNOLOGYANDITS
IMPACTONENVIRONMENTMAYALSOBEAPPLIED
4HEPUBLICPROCUREMENTLAWISANADMINISTRATIVELAW
(OWEVERBASEDONTHECONTRACTSCLOSEDUPONATENDER
APPLICATIONTHE#IVIL#ODEAND#IVIL0ROCEDURE#ODE
AREUSED
4HEINFORMATIONABOUTPROCEEDINGSISPUBLISHEDINTHE
0UBLIC0ROCUREMENT"ULLETINONTHEWEBSITEOFTHE0UB
LIC0ROCUREMENT/FCEANDTHEOFCIAL*OURNALOFTHE
%UROPEAN5NION
4HECONTRACTORANDPARTICIPATORSOFTHEPUBLICPROCURE
MENT PROCEDURE AS WELL AS OTHERS WHO HAVE A LEGAL
INTEREST MAY APPEAL FROM ANY ACTION AND OMISSIONS
WHICHAREINCOMPLIANTWITHTHEPROCUREMENTLAW4HE
APPEAL SHOULD BE LODGED WITH THE .ATIONAL !PPEAL
#HAMBERWITHINOR DAYSDEPENDINGONTHE
VALUEOFTHEORDERORCONTRACT
)F THE VALUE OF THE CONTRACT AWARD PROCEDURE IS LESS
THANACERTAINAMOUNTkSPECIEDINTHEAPPROPRIATE
PROVISIONSOFTHE0UBLIC0ROCUREMENT,AW THEAPPEAL
MAYSOLELYBEADMISSIBLEAGAINSTONLYSOMEOFTHEAC
TIONSTAKENDURINGTHEPROCUREMENTPROCEDURE)NOTH



)NTHECASEOFANAPPEALBEINGLODGEDTHEAWARDING
ENTITYMAYNOTCONCLUDEACONTRACTUNTILTHE#HAM
BERHASPASSEDITSJUDGMENTORDECISIONWHICHENDS
THEAPPEALPROCESS4HE#HAMBERWILLEXAMINETHE
APPEALWITHIN DAYSFROMTHEDATEOFITSSUBMIS
SIONTOTHE#HAIRMANOFTHE#HAMBER4HE#HAM
BERWILLTHENISSUEAJUDGEMENTONTHEDISMISSALOR
ADMISSIONOFANAPPEAL

!N AGREEMENT BETWEEN THE ORDERING PARTY AND THE

CONTRACTWITHTHEBESTOFFERMUSTBEEXECUTEDINWRIT
TEN FORM ON PAIN OF VALIDITY (OWEVER WHEN 0OLISH
LAWREQUIRESASPECIALFORMEGANOTARYDEED SUCH
ANAGREEMENTSHOULDBECLOSEDALSOINTHISFORM4HE
AGREEMENTSHOULDBECONCLUDEDINTHISWAYTHATTHE
SCOPEDOESNOTEXCEEDTHEOBLIGATIONUNDEROFFER
4HELASTAMENDMENTOFTHE0UBLIC0ROCUREMENT!CT
CAMEINTOFORCEONTH&EBRUARY







3UPPLIES
3ERVICES
#ONSTRUCTIONWORK
3OURCE4HE!NNUAL2EPORTOFTHE0UBLIC0ROCUREMENT/FCE
FORTHEYEAR

Securing business

IV.5.4. Bankruptcy
and restructuring

INACCURATEDATAHAVINGBEENFURNISHEDINTHEBANK
RUPTCYPETITION
)NSTEADOFLIQUIDATIONBANKRUPTCYPROCEEDINGSMAY
BENALISEDBYANARRANGEMENTBETWEENTHECOM
PANYANDITSCREDITORS

4HE"ANKRUPTCYAND2ESTRUCTURING!CTESTAB
LISHEDRULESCONCERNINGTHEBANKRUPTCYOFENTREPRE
NEURS AS WELL AS SETTLEMENT AND RESTRUCTURING PRO
CEEDINGSAIMEDATPREVENTINGBANKRUPTCY
4HEREARETWOTYPESOFBANKRUPTCYTHATMAYBEDE
CLARED &IRSTLY LIQUIDATION PROCEEDINGS WHICH RESULT
INTHESALEOFALLASSETSANDTHEDELETIONOFTHECOM
PANY FROM THE .ATIONAL #OURT 2EGISTER 3ECONDLY
BANKRUPTCY WITH THE POSSIBILITY OF ENTERING INTO A
SETTLEMENTAGREEMENTWITHTECREDITORS
!CCORDINGTOTHE0OLISH"ANKRUPTCYAND2ESTRUCTUR
ING,AW!CTADECLARATIONOFBANKRUPTCYSHOULDBE
ISSUED IN RESPECT OF A DEBTOR WHO HAS BECOME IN
SOLVENT ! DEBTOR IS INSOLVENT IF THEY ARE IN DEFAULT
OF THEIR ENFORCEABLE OBLIGATIONS ! DEBTORWHICHIS
ALEGALPERSONSHALLBEDEEMEDINSOLVENTALSOWHEN
THEIR OBLIGATIONS EXCEED THE VALUE OF THEIR ASSETS
EVENIFTHEYSHOULDBECURRENTLYINTHEDISCHARGEOF
THESEOBLIGATIONS4HECOURTMAYDISMISSABANKRUPT
CYPETITIONWHENTHEDELAYINTHEDISCHARGEOFOBLIGA
TIONSHASNOTEXCEEDEDTHREEMONTHSANDTHESUMOF
THEOUTSTANDINGOBLIGATIONSISNOHIGHERTHAN
OFTHEBALANCE SHEETVALUEOFTHEDEBTORgSENTERPRISE
4HECOURTWILLALSODISMISSABANKRUPTCYPETITIONIN
WHICHTHEASSETSOFTHEINSOLVENTDEBTORARENOTSUF
CIENTTOCOVERTHECOSTSOFTHECOURTPROCEEDINGS
!BANKRUPTCYPETITIONMAYBELEDBYTHEDEBTOROR
BYANYOFTHEIRCREDITORS!PETITIONMAYALSOBELED
INRESPECTOFLEGALPERSONBYBYTHECOMPANYgSREP
RESENTATIVE4HECRUCIALTHINGISTHATADEBTORSHALLNO
LATERTHANWITHINTWOWEEKSFROMTHEDAYONWHICH
GROUNDSFORTHEDECLARATIONOFBANKRUPTCYAROSELE
ABANKRUPTCYPETITIONWITHTHECOURT)NTHECASEOF
A DEBTOR BEING A LEGAL ENTITY THE AFOREMENTIONED
DUTYSHALLBEATTACHEDTOWHOEVERISENTITLEDTOREP
RESENTTHECOMPANYINDIVIDUALLYORJOINTLYWITHOTHER
PEOPLE  4HESE PERSONS ARE LIABLE FOR ANY DAMAGES
THATMAYARISETHROUGHTHEFAILURETOLETHEPETITION
WITHINTHETIMELIMITINDICATEDABOVETWOWEEKS 
4HE DEBTOR LES JOINTLY WITH THE BANKRUPTCY PETI
TIONAWRITTENSTATEMENTASTOTHEACCURACYOFTHE
DATACONTAINEDTHEREIN)FTHISSTATEMENTISINACCU
RATETHEDEBTORISLIABLEFORANYDAMAGECAUSEDBY



!NOTHER LEGAL INSTITUTION PROVIDED BY THE 0OLISH

"ANKRUPTCY AND 2ESTRUCTURING ,AW !CT ARE REHA
BILITATION PROCEEDINGS OCCURRING IN THE EVENT OF
A THREAT OF INSOLVENCY !N ENTREPRENEUR WILL BE
THREATENED WITH INSOLVENCY IF DESPITE PERFORMING
THEIR OBLIGATIONS IT IS OBVIOUS THAT ACCORDING TO
A RELIABLE ASSESSMENT OF THEIR ECONOMIC SITUATION
THEY WILL SOON BECOME INSOLVENT 3UCH ENTREPRE
NEURSMAYINITIATEANDCONDUCTPROCEEDINGSAIMED
ATREDUCINGDEBTSORREPAYINGTHEMININSTALLMENTS
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support system
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ISUNDERDEVELOPMENT4HISACTISDEDICATEDTOTHE
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THEEXCESSOFGENERATEDCERTICATES
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2ENEWABLE%NERGY!CTTAKINGEFFECT





V.
Sources of
Information





V.1.

Polish Information and

Foreign Investment
Agency
0OLISH)NFORMATIONAND&OREIGN)NVESTMENT!GENCY
0!)I): ISAUSEFULPARTNERFORFOREIGNENTREPRENEURS
ENTERING THE 0OLISH MARKET 4HE !GENCY GUIDES
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4HESERVICESPROVIDEDBY0!)I):ACCORDING
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Polish Information and Foreign Investment Agency

NESECOMPANIESOPERATINGIN0OLANDANDFORTHE'O
#HINA 0ROJECT -ORE INFORMATION YOU CAN ND ON
www.gochina.gov.pl
!LSO SINCE  0!)I): IS IMPLEMENTING THE h'O
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#ENTRES PROVIDE COMPREHENSIVE PROFESSIONAL SERV
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IS THE BEST SOURCE OF KNOWLEDGE NOT ONLY FOR FOR
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NIES
/NTHEWEBSITEwww.paiz.gov.plTHEINVESTORCAN
ND ALL THE NECESSARY INFORMATION CONCERNING KEY
FACTSABOUT0OLANDTHE0OLISHECONOMYLEGALREGU
LATIONSIN0OLANDANDALLOTHERDETAILEDINFORMATION
WHICHCOULDBEUSEFULFORANYCOMPANYWANTINGTO
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#ONTACTUSTOLEARNMOREABOUTHOWYOURCOMPANY
CAN PROT FROM THE UNIQUE BUSINESS POTENTIAL OF
0OLAND

Polish Information and Foreign Investment Agency

#ONTACTDETAILS
0OLISH)NFORMATIONAND&OREIGN)NVESTMENT!GENCY
&OREIGN)NVESTMENT$EPARTMENT
UL"AGATELA
 7ARSAW0OLAND
4EL
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% MAILPOST PAIZGOVPL
INVEST PAIZGOVPL





V.2.

Regional Investor
Assistance Centres
Dolnolskie Voivodship

Kujawsko-Pomorskie
Voivodship

$OLNOLSKA!GENCYOF%CONOMIC#OOPERATION
)NVESTOR!SSISTANCE#ENTRE
UL+OTLARSKA
 7ROCAW

+UJAWSKO 0OMORSKIE6OIVODSHIP-ARSHALgS/FCE
)NVESTOR!SSISTANCE#ENTRE
PL4EATRALNY
 4ORU

#ONTACT
#ONTACT

-AGORZATA#HALABALA
4EL
&AX
% MAILMALGORZATACHALABALA DAWGPL

$ARIA-IECZYSKA
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% MAILDMIERCZYNSKA KUJAWSKO POMORSKIEPL

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4EL
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4EL
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-AREK2YOW
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WWWKUJAWSKO POMORSKIEPLCOI



Regional Investor Assistance Centres

Lubelskie Voivodship

dzkie Voivodship

,UBELSKIE6OIVODSHIP-ARSHALgS/FCE
)NVESTOR!SSISTANCE#ENTRE
UL3TEFCZYKA
 ,UBLIN

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 D

#ONTACT
#ONTACT

0RZEMYSAW*AGIEO
4EL
% MAILPRZEMYSLAWJAGIELLO LUBELSKIEPL

*ANUSZ"ARANOWSKI
4EL
% MAILPRZEDSIEBIORCZOSC LODZKIEPL

$OROTA'ARDZAA
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% MAILDOROTAGARDZALA LUBELSKIEPL

%WA#HOISKA
4EL
% MAILEWACHOINSKA LODZKIEPL

3YLWIA+OLBUS
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% MAILSYLWIAKOLBUS LUBELSKIEPL

WWWBIZNESLODZKIEPL
% MAILCOI LUBELSKIEPL
4EL&AX
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Maopolskie Voivodship

Lubuskie Voivodship

-AOPOLSKA2EGIONAL$EVELOPMENT!GENCY
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 +RAKW

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 :IELONA'RA

#ONTACT
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% MAILCONTACT BUSINESSINMALOPOLSKACOM
WWWMARRPL

,ESZEK5RBAN
4EL
% MAILLURBAN LUBUSKIEPL

% MAILCOIE LUBUSKIEPL
WWWCOI LUBUSKIEPL



Regional Investor Assistance Centres

Opolskie Voivodship

Mazowieckie Voivodship
!GENCYFOR$EVELOPMENTOF-AZOVIA
)NVESTOR!SSISTANCE#ENTRE
UL"RECHTA
 7ARSZAWA

/POLSKIE#ENTREFOR%CONOMY$EVELOPMENT
)NVESTOR!SSISTANCE#ENTRE
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 /POLE

#ONTACT

#ONTACT

+ATARZYNA#ESARCZYK
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3AWOMIR*ANECKI
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% MAILIOLENDER OCRGOPOLSKIEPL

-ARCIN3ZURMISKI
4EL
% MAILMSZURMINSKI ARMSAPL

0IOTR2EGECZUK
4EL
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4OMASZ7OLFF
4EL
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!DAM/LBERT
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% MAILCOI OCRGOPOLSKIEPL
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Regional Investor Assistance Centres

Podkarpackie Voivodship

Pomorskie Voivodship

2ZESZW2EGIONAL$EVELOPMENT!GENCY
)NVESTOR!SSISTANCE#ENTRE
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 2ZESZW

0OMORSKA$EVELOPMENT!GENCY
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 'DASK

#ONTACT

#ONTACT

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% MAILMZAJCHOWSKA RARRRZESZOWPL

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Regional Investor Assistance Centres

Warmisko-Mazurskie
Voivodship

lskie Voivodship
LSKIE6OIVODSHIP-ARSHALgS/FCE
)NVESTOR!SSISTANCE#ENTRE
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 +ATOWICE

7ARMIAAND-AZURY2EGIONAL$EVELOPMENT!GENCY
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!NNA2OGOWSKA
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witokrzyskie Voivodship
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Regional Investor Assistance Centres

Wielkopolskie Voivodship

Zachodniopomorskie
Voivodship

4HE!SSOCIATIONOF7IELKOPOLSKA-UNICIPALITIES
AND#OUNTIES
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#ONTACT

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4EL
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!NNAOHUNKO
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LOT, Headquarters Polish Airlines

Warszawa




V.3.

International
schools in Poland
Warszawa
!MERICAN3CHOOLOF7ARSAW
UL7ARSZAWSKA
 +ONSTANCIN *EZIORNA
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4HE"RITISH3CHOOL
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VI.
About
JP Weber

VI.1.

About JP Weber

About JP Weber

Who we are...
&OR OVER  YEARS *0 7EBER HAS BEEN SUPPORT
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"USINESS.EWS),EGAL4AX2EGULATIONS)%5&UNDS))NVESTMENT/PPORTUNITIES

JP Weber Newsletter
Always up to date with Poland

7E INVITE YOU TO SUBSCRIBE FOR OUR NEWSLETTER 7ITH OUR

INTERDISCIPLINARY TEAMS WE KEEP OUR #USTOMERS AND 0ART
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