Poland managed to position itself on the global computer game market after the release of its Witcher game series, by CD Projekt. Since then, the country has been steadily growing this business field, now the market exceeding more than 500 million USD. Investments in the video game industry in Poland are attractive not only because of a large number of computer game enthusiasts but also because of the lower company management costs in the country and the availability of talented workforce. Our team of lawyers in Poland is ready to assist any foreign investors who wish to enter the gaming market, with assistance for legal issues and company creation.
The preferential regime for conducting business in Poland’s Special Economic Zones will be expanded to other areas outside of these pre-defined locations. The change will be implemented following a Governmental decision and Polish companies will be able to apply for the special permits starting with the second quarter of the year. This is an important change for companies in Poland and one that has the potential to attract more foreign direct investments. Our Polish lawyers talk about how the regime will apply and highlight the main aspects regarding the current Special Zones.
Poland’s Central Bank Chief, Adam Glapiński, believes that Poland is one of the top international destinations for investment. Among the strongest points, he mentions the stable democracy and the strong economic growth. Our Polish lawyers summarize the main reasons to invest in Poland and the advantages for foreign entrepreneurs in the country.
The Polish Government recently announced that it made several proposals to amend the Personal Income Tax Act to include a new taxation method for the employee incentive programs. This change is only one of those included in the amended Act, which will enter into force starting with January 1, 2018. One of our lawyers in Poland can help you understand these changes.
Poland reduced its corporate income tax rate from 19% to 15% for small and medium sized companies. The change was included in the amended Corporate Income Tax Act and will be beneficial for all start-ups in Poland as well as small corporate taxpayers. Our lawyers in Poland are able to tell you more about this change but also about the other provisions included in the new amendments.
US investments in Poland are likely to increase in coming years. The Chairman of the American Chamber of Commerce in Poland has recently stated in an interview for a Polish news agency that the current value of investments from the US to Poland will increase because American companies have several business sectors to focus on in Poland. Foreign investors in Poland are welcomed and treated the same was as national entrepreneurs. One of our lawyers in Poland is able to provide you with elaborated details on the current regulations.
Chinese investors have a significant interest in strengthening their relations with Poland, and this means more investments in the European country. Chinese investors are looking for investment opportunities in Poland, especially in the manufacturing, energy and food industries. In 2015, the value of Chinese investment in China was around 15.2 billion euros, according to Chinese sources. One of the latest announcements in regards to Chinese investments in Poland is a Chinese company that produces construction equipment and is interested in opening a European headquarter in Warsaw. Our lawyers in Poland highlight the main benefits for Chinese foreign investors who decide to invest in Poland.
An amendment to the Polish Construction Law aims to improve the investor’s legal status in this field. The legislative changes target the manner in which a construction design is approved and what constitutes a significant basis for approval for various construction projects. Investors in Poland who wish to open a construction business need to comply with the legal requirements in place in the construction sector.
The beginning of 2017 marks an overall trade confidence growth in Poland, along with an industrial production increase. The data was released by the Polish Central Statistical Office and it refers to the months of January and February. Our lawyers in Poland detail these positive changes and are also able to provide investors with advice for doing business in the country in 2017.
The total number of large electrical goods manufactured in Poland increased significantly during 2013-2016. The industry had a significant evolution, mainly due to the foreign investments in Poland and the beneficial investment regime. The demand for Polish washing machines, fridges or dishwashers remained high because about 90 percent of these types of products are exported.
Poland managed to record a surplus in foreign trade in 2015 of about 10 billion PLN. Imports and exports have a relatively similar value, with slightly more exports. The trade surplus is important for the economy of the country but also for encouraging foreign investors to open new businesses in the country.
Small business owners in Poland will benefit from the latest tax changes adopted by the Polish Government. A new bill that has been adopted by the Government will allow the reduction of the corporate income tax by 4 percent, for small businesses. This measure was taken as a means of encouraging investments in Poland, particularly small business owners.
The latest statistics show an increased interest among Polish citizens to make their purchases online. The consumer confidence in online shopping has grown over the last few years because of the development of secure payment methods and because most Polish companies are migrating towards the online environment for selling their products.
In 2015 Poland’s foreign trade balance registered a surplus of 3.7 billion euros due to the rising number of exports. While most of the imports came from other EU countries, for the first time in the last decade, the country’s exports have reached countries outside the European Union. Our lawyers can provide you with more information about trading in Poland.
Foreign investors in Poland have made a significant contribution in the number of new jobs in 2015. More than 40 foreign companies have created over 8,000 new jobs between them and the sectors attracting new employment are diverse. Investors interested in hiring qualified workforce in Poland can request the services offered by our attorneys in Poland.
This year’s edition of the Invest in Poland Conference highlighted the most important advantages for opening a company in Poland but it also underlined a number of changes that would make the country even more attractive for foreign entrepreneurs. Poland already has a good investment climate but in order to maintain its position it must concentrate on other improvements.
Poland managed to advance in the Doing Business 2016 ranking issued by the World Bank. With a total of 76.45 points in this year’s edition, the country managed to climb seven places compared to last year. Poland’s improvement among the other European countries indicates that is remains a prime location for foreign investments.
New amendments made by the local authorities allow for a reduction of the real estate tax (RET) levied on property structures, one of the main taxes in Poland. This change is accompanied by the introduction of a new “billboard” fee applicable locally. Our attorneys in Poland can help you understand these tax changes and see how they apply to you if you own a local property.
The Polish President signed an amendment to the gaming legislation which allows European companies to develop gambling activities in the country. This is an important decision, one that creates new opportunities for foreign investments in Poland. Companies who will want to start gambling activities will need to comply with certain terms. Our Polish law firm can offer you personalized advice if you work in the gambling business.
Starting with 2015, new rules will apply for the use of company cars by employees. The main reason for the change is the simplification of the calculation method for the taxable benefit-in-kind that arises from the personal use of the car by the employee. Company cars in Poland are offered by many types of companies and business owners as well as employees are concerned with this change. Our Polish law firm can offer you special advice and help with the income tax rules for company cars in Poland.
The construction of retail space in Poland continues to be a profitable business option and more than 90 percent of these spaces are located in shopping centers. Although Poland offers opportunities for investment in many cities, the preferred location for retail space investors seem to be Polish cities with more than 300,000 citizens. International investors have long been aware of the opportunities presented by Poland and the country is regarded as a mature market.
The Polish Parliament passed the renewables bill at the beginning of the month which means that new rules of improving the Polish industry, especially the mining industry, will be implemented. New long-term subsidies for renewable energy are also included in the bill. The bill was passed with 228 votes in favor of the bill, 167 against the bill and two abstained.