Opening Bank Accounts for Companies
Support for Opening Bank Accounts for Companies
1. Opening a Bank Account for Companies in Poland
Does a company in Poland need a bank account?
Although the law does not directly mandate every company to have a bank account, in practice it is essential. Unlike sole proprietors (JDG), owners of limited liability companies cannot use personal bank accounts for business purposes.
Companies that must use the split payment mechanism and active VAT payers must have a business account. Any changes regarding the business account need to be reported to the relevant authorities.
EUROCOMPANIES supports the establishment of bank accounts for both Polish and foreign companies.
2. Opening a Bank Account for a Polish Company Abroad
Entrepreneurs operating abroad often need an account in a local bank. Opening a business bank account in other European Union countries is now possible and offers many advantages.
An international bank account allows for:
- Transactions in the local currency
- Capital protection
- Access to new investment opportunities
How to open a bank account for a Polish company abroad?
Procedures vary depending on the country and the bank. Banks often require a personal visit by the company owner and undergoing a "due diligence" process, which includes, among other things, a financial and legal analysis of the company.
Required documents include, for example, company documents translated by a sworn translator and an application containing company details and reasons for opening an account in the given country.
EUROCOMPANIES assists with opening bank accounts for Polish companies in countries such as the Czech Republic, Slovakia, or Hungary.
3. Opening a Bank Account in Poland for a Foreign Company
Foreign companies can open accounts in Polish banks; however, this process is often complex and requires the submission of various documents, such as apostilles or sworn translations.
Each bank has its own requirements, which may include additional documents confirming the authenticity of the company and its ties to its home country.
EUROCOMPANIES supports the preparation of all necessary documents to open a bank account in Poland for a foreign company.
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