Companies seeking to obtain a crypto license in Poland have to go through a fairly uncomplicated registration process that is rather uncommon in Europe. Before anything else, the budding business needs to double-check if this jurisdiction really is the best option for its endeavors. A consultation with a legal advisor is often recommended. After this, you have to submit a digital application to Ministerstwo Finansów (Polish Ministry of Finance). The application should contain information regarding the company, key personnel, and several other things. The full list of documents can be found on the ministry's official website. After the sign-up process, the main task is to manage the crypto entity. The process is no different than it is for a regular company in any other country.
How to open a local office (no physical office required) with zip code?
Registering a local Polish office is a great way of establishing an efficient working connection. Some companies even opt for the brick-and-mortar approach by opening a Polish branch in an international hub, but that's not really necessary for a company that wants to save as much money as possible. A virtual office contains a Polish phone number, fax number, mail address for business correspondence, and even storage space to store paperwork. What's really interesting is that the cost of running a virtual office is on the lower side, too. The fee is only around EUR 21 per month. There aren't many requirements aside from paying the fee and submitting an application.
How to open a corporate bank account in Poland?
Even though opening a corporate account with a Polish bank isn't really difficult, it's probably the most stressful part for most crypto entrepreneurs. Major Polish banks all offer online banking, English-language versions of their websites and apps, so it's not that difficult to obtain a corporate bank account and solve any issues that arise. However, you'll have to keep in mind that it's not possible to open a bank account in Poland without physically presenting yourself in person to a bank manager.
How to register company information in Polish registers?
Every company operating in this residence has to be entered into the National Court Register. The best way to approach this task is to hire a qualified lawyer or a firm specializing in business registration. It's best to let an experienced team deal with the registration. The most important thing is to get everything as accurate as possible.
How to prepare information about company officials?
In order to successfully register a company in Poland, it's required to provide certain information about key company officials. There are two major requirements to be met. Firstly, you have to supply proof of no criminal record for company officials. The process of obtaining such documentation may vary by country, but that should not be difficult at all. Usually, all you have to do is submit an application and wait for the documentation. Secondly, companies must provide proof of qualification for the people involved in the cryptocurrency field. Completing online or offline courses can be proof of qualification. At least one year worth of working experience is also sufficient. There has to be documentation to confirm the education and employment history of the company officials.
What documents are required to confirm the official origin of funds?
The most important document when it comes to verifying the money coming into a company is the local tax statement. Thanks to the statement, the registering body can confirm that the money in fact did NOT come from any fraudulent activity. Further documentation required to prove the origin of funds can vary from bank to bank, but the most common type of documentation are tax statements.
How to apply to the Polish Tax Office for a permit?
In order to gain access to the Electronic Platform of Public Administration Services, you need to have a tax identification number. In order to get that number, you will have to:
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Translate a certificated copy of the director's state-issued ID (passport) into Polish (apostille might be required)
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Receive the document confirming the registration of a tax identification number in PESEL, the Universal Electronic Population Registration System. Usually, it does not take longer than 20-25 days for you to receive the number and all the documentation required.
How to pay state fees?
If you choose to open a company with the help of a lawyer or business registering company, they usually include all the processing fees in their total fee and they are usually collected at once. For all the others, you have to pay separate state fees depending on what exact fees are applicable. The registration fee that needs to be paid to the National Court Register equals EUR 140. It can be paid in cash, it can be paid via a banking service. or one of the e-government services can be used (there usually are different means of payment present).
How long does it take to get a license?
It can be difficult to estimate the time period for obtaining a business license. It depends a lot on the type of business you are opening. A company that is going to operate in the cryptocurrency sector doesn't usually take too long to process. With such a type of a business, you can work on opening the business with an expert company to further speed up the process. With the help of a company that specializes in business registration, you'll be looking at a period of two weeks. If you choose to go through the entire process on your own, it might complicate and severely slow down your company formation as a whole. There may be unforeseen delays and setbacks thanks to incorrectly filled out documents or inaccurate information in the registration documents. You might even get extra fees because you'll be asked to re-submit documents. Still, even with that in mind, the process of obtaining a cryptocurrency licensee and registering a legal entity usually doesn't take longer than a month. Of course, the timeline will depend on the exact circumstances of your case.