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Why is Poland attractive for foreign investors

Why is Poland attractive for foreign investors

Poland is one of the most dynamic and fast-growing markets in Europe due to the increasing number of new investment projects. As a member of the EU, it offers entrepreneurs the opportunity of an easy access to the worlds’ biggest free market area. Furthermore, it provides foreign investors with competitive labor costs, a considerable size of the market, industrial diversity and real possibilities for the development of new economic entities

Our lawyers invite you to watch a video about the most important reasons to invest in Poland

An extended market

As the sixth most populated country in the European Union, Poland provides investors with a 38 million consumers market, one of the biggest in Europe. It is also placed in the center of Europe which not only facilitates the import and export activities but also lowers transportation costs of the goods.  Due to its privileged position on the continent, investors who choose Poland can easily reach over 500 million consumers. Poland’s major trade partners are Germany, France, the United Kingdom, Italy, Hungary, Ukraine, Spain, Russia, and China.

Special Economic Zones

The Polish Government realized that new investments will have a significant impact on the economic development of the country, in the decrease of unemployment and the increase in the competitiveness of Polish economy, and therefore created the Polish Special Economic Zones. There are 14 special zones that provide investors with the opportunity of running their business of preferential terms and also the assurance of tax benefits.

Polish Special Economic Zones offer attractive tax exemptions, employment incentives, and well-prepared investment lots. Moreover, the corporate tax rate in Poland is of 19%, among the lowest in Europe. In some cases, if companies meet certain requirements it is also possible to receive financial grants from the Polish Government and local tax exemption.

Workforce

The estimated work force in Poland is 17 million people and more than half are employed in the services sector. The country provides investors with a well-educated and highly skilled employment market, especially economists, engineers, IT specialists and scientists. Poland has almost 500 academic centers.

Economic sectors

The highest economic growth can be seen especially in the automotive, R&D, electronic and chemical sectors. Also, Polish tourism is a well-developed sector because this country manages to attract numerous tourists due to its landscape, history and cultural heritage. 

According to a report from Boston Consulting Group, Poland might become the manufacturing hub of Europe because:

• The labor cost is 4 to 10 times cheaper than in other countries and there is little chance for this difference to be diminished in the next few years 

• Manufacturing in Poland is cheaper by about 30% 

• The quality of Polish goods is far superior to the ones produced in other countries, making them much more competitive. This applies mainly to such sectors as: electric house appliances, metal products, automotive, furniture. 

If you plan on opening a company in Poland, working with a local accountant is advisable for foreign investors. This will allow foreign entrepreneurs to full comprehend the current regulations and requirements, and to have the ongoing support of a local team who will make sure that the company remains compliant with the tax filing and payment deadlines. You can reach out to our accountants in Poland for information about our services.

Considering all facts mentioned above, it is obvious why Poland is considered the eighth European state in terms of attractiveness. For more information please contact us. We are happy to provide advice and consultancy to foreign investors interested in opening a company in Poland.