Restrictions
As a member of the European Union, Poland has few limitations for foreign companies wishing to enter the Polish market.
Financial and capital markets
Poland has well developed financial markets and the banking system works fine. Giełda Papierów Wartościowych w Warszawie (The Warsaw Stock Exchange) is the official capital market and there are a few alternative smaller markets as well. As of July 2010 there are 386 companies listed at the WSE including a growing number of foreign companies choosing this market to list their shares.
Business entities
Starting a business in Poland is relatively easy. In practice, the limited liability company (LLC) is the most common form of business organisation for foreign and domestic investors engaging in business in Poland. The minimum share capital required to establish an LCC is PLN 5 000. Contribution to the share capital of an LLC have to be made prior to its registration. In addition, readymade LLCs are available for purchasing off the shelf and can be ready for trading within days.
Financial reporting
The accounting standards in Poland have been undergoing significant changes to bring Polish accounting practices closer to the International Financial Reporting Standards (IFRS). However, due to the many changes in IFRS, differences continue to exist. Accounting records should be kept and financial statements drawn up in the Polish language and expressed in the Polish currency. A statutory audit is required for all joint stock companies and a limited liability company if two of the following criteria are met: a) annual average employment exceeded 50 persons; b) total balance sheet amount exceeded EUR 2,5 million; and c) turnover plus financial income exceeded EUR 5 million.