The Republic of Poland or simply Poland is located in Central Europe and is part of European Union. While the establishment of Polish state dates back to year 966, Poland regained its independence and started its way to being the advanced economy it is now in 1989. Poland is the eight largest and considered to be one of the most dynamic economies in the EU, it also has a leading school educational system in Europe. Poland provides its citizens with a free university education, universal health care system and state-funded social security. It is also a member of the Schengen Area, NATO, OECD and the United Nations.
Poland is considered as one of the most successful countries to transition from communism to the market economy. The return of the democracy was followed by the liberalisation of the economy, privatisation of the small and medium-sized state-owned companies as well as a rapid growth of private sector. Poland is the leading producer and exporter of apple concentrate and is one of the leading producers of cabbage, berries and carrots. In addition to agriculture, Poland’s main industries are coal mining, machine and shipbuilding, glass, iron and steel manufacturing as well as food and beverage processing and textiles.
It is estimated that approximately 36% of the foreign investments go to manufacturing. Other attractive sectors for foreign investments in Poland are logistics and transports, financial services as well as IT and data transfer. Also, thanks to the growth of Polish economy, the real-estate market has caught the attention of both – local and foreign investors.
If you are considering to set up a business in Poland and are exploring the most beneficial and profit-generating ideas, below are some of the most attractive sectors along with the benefits they can provide.
Polish company for IT and software development IT and software development sector in Poland is among the most vital and robust industries with good fundamentals as well as further growth prospects. Polish IT sector is considered to be a leader in the region with the demand for qualifying IT engineers constantly growing. The main reason and at the same time the benefit of setting up an IT business in Poland is its vast human capital – high quality IT engineers.
Poland tends to distinguish itself in terms of IT graduates – approximately 40 thousand young people each year receive a top quality higher education in IT and software development. The high quality of IT education is proven by numerous international programming competitions and rankings, such as Top Coder. Polish IT specialists are demanded not only locally but are also highly demanded abroad. Other benefits of setting up an IT business in Poland are high product quality and low production and workforce costs in comparison to other countries.
These are the main reasons, why such companies as Microsoft, Google, HP and IBM have opened their offices in Poland and other foreign companies are located in all biggest cities of Poland. Currently, two most popular cities for IT businesses are Warsaw and Wroclaw. Although some of the world’s biggest technology companies have entered Polish market, there are still plenty of opportunities and perspectives for the IT and software development in Poland. One of the reasons, why this sector is still highly encouraging is the rapid development and new products, such as mobile solutions, cloud computing and Blockchain technologies. Additionally, Poland offers certain state aid for investors and Special Economic Zones are developed to provide investors with the entire technology infrastructure.
Polish company for research & development R&D sector in Poland is considered as one of the success stories among EU member states. The main actors of R&D sector are the Polish Academy of Sciences along with other higher education institutions and individual R&D businesses. The Polish government is also encouraging R&D activities by funding special programs through which numerous investment opportunities are available for R&D projects. Meanwhile, Polish universities prepare highly qualified workforce, which is relatively cheaper if compared with other EU countries.
Research and development activities are advancing in all major economic sectors, especially electronics, aviation, telecommunication and IT, biochemistry and biotechnology, pharmaceutical products and other innovative technologies. This sector is not only open to local entrepreneurs – national authorities welcome and support also foreign investments by opening numerous new science and technology parks which are specially designed to facilitate the establishment of R&D units.
Polish company for automotive Automotive is one of the most important industries in Poland comprising machine tools, petrochemicals, electrical machinery, car manufacture and shipbuilding. There are several important factors why foreign entrepreneurs should be interested in this developed market. For example, Polish automotive sector is ranked second in the world in terms of manufacturing output. Similarly as with previously mentioned industries, also automotive sector is highly attractive due to a vast supply of highly qualified and relatively inexpensive workforce. There are numerous opportunities for you as a foreign entrepreneur to apply for funds from various EU programmes and certain conditions when you can be exempted from CIT (corporate income tax) or benefit from available state aid programs for foreign investors.
Denmark has a corporate tax rate of 22%. Companies that operate under VAT have to pay tax on purchases at 25%. Certain services, like those related to newspapers and journals (published more than once a month), intra-community and international transport, and others, benefit from a 0% VAT rate.
In Armenia, the form of government is a semi-presidential republic. In Armenia, legislative power rests with a national assembly. The head of government is Armen Sarkissian. A country's governmental structure determines the way laws are written, passed and interpreted. The type of government determines the way elections are held as well as the country's system of policing its citizens. The term of office of the head of state in Armenia lasts until January 1, 2023. The length of a head of state's term of office has a direct impact on the power and influence of the executive position. A longer term gives the head of state more authority. The term of office of the head of state in Armenia lasts until January 1st, 2023. The length of a head of state's tenure has a direct bearing on the power and influence of the leadership position. A longer term gives the head of state more authority. The Global Peace Index (GPI) for Armenia is 2.028. The Strength of the Legal Rights Index for Armenia is 5. Overall, it is considered rather insufficient – bankruptcy and collateral laws are able to protect the rights of borrowers and lenders to a certain extent; Credit information may be sufficient but scarcely available or, conversely, available but not sufficient. In 2013, Armenia received US$272.7 million in foreign aid. In 2014, foreign aid was $400.1.
Government Armen Sarkissian is the head of government in Armenia. The system of government of Armenia is a semi-presidential republic. In Armenia, legislative power rests with a national assembly; It is a unicameral legislature and therefore a unicameral National Assembly. According to the World Bank Group, Armenia's Government Effectiveness Index is -0.17. This suggests that the government of Armenia is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully study the government situation in Armenia before considering any business maneuvers.
Austria is a sophisticated and prosperous economic center that serves as a trade bridge between Eastern Europe and the Balkans. Austria welcomes foreign investors and instead of fighting offshore countries, Austria enters into tax treaties with them. In addition, tax-minimising structures are being developed for all types of companies, which allow an effective tax rate of only 3-5%. These are just a few of the numerous advantages of founding a company in Austria.
Corporate structure in Austria Choosing the right business structure can have crucial consequences, so it is extremely important to review all available options before making this decision. Below are the four most popular types of companies that can be incorporated in Austria:
The joint-stock company is designed for large companies and its minimum share capital is EUR 70,000. The capital is broken down into shares and can be offered to the public. A shareholder is required to form a joint-stock company, and their liability is limited by their contribution to the capital. The limited liability company GmbH is the most popular type of company in Austria. The minimum share capital is EUR 35,000, of which EUR 17,500 or more must be deposited at the time of registration and each shareholder must contribute at least EUR 7,000 to the company's seed capital. Stocks of these types of companies cannot be publicly traded. General partnerships are formed by two or more legal or natural persons with the same economic purpose. It is important to note that all persons involved in the formation of a general partnership bear full liability for the debts of the partnership and have equal rights in managing the partnership. There is no minimum capital requirement for general partnerships. A limited liability company can be formed when at least one partner has full liability for the company's debts and can make essential business decisions and at least one partner has liabilities limited by the capital contributed and no decision-making power.
Procedure for founding a company in Austria The most important measure for all new companies is confirmation from the Chamber of Commerce that the company is indeed a new company. Then a document called Articles of Incorporation is drafted by a lawyer in front of a notary public and a seed capital is deposited into a bank account and a Deed of Funds is obtained.
After the above things are done, the company formation procedure can be initiated at the district court. For this process, shareholders must deposit the following documents:
application for registration; Notarized Statement of Incorporation; articles of incorporation; Certificate of confirmation that the seed capital is deposited with the bank; Sample signatures of the board of directors. After about seven days, when the business unit is registered with the district court and the information is published in the local newspaper, the company can be registered with the local tax office. There you have to fill out an application and explain the articles of association, the extract from the commercial register at the district court and the sample signatures of the company representatives. In return, the tax office issues a sales tax identification number and a tax identification number.
The final steps include registration in the commercial register, registration with the municipality and finally the registration of the company's employees with the social security authority.
The average duration of founding a company in Austria is 21 days, of which 12 days account for the most waiting time for a tax identification number (the official deadline for obtaining a tax identification number is 1 month).
The development of telecommunications and economic globalization have made it possible for interested investors to set up companies all over the world. With proper research, financial investment and legal backing, business ventures can be safely incorporated in almost any country in the world. Building an international business used to be a complicated entrepreneurial venture, but today it is commonplace with the help of experienced legal and business advisors.
The advantages of founding a company abroad are as numerous as they are obvious. Many countries offer specific locational advantages, ranging from natural resources and well-established infrastructure to beneficial laws and regulations that encourage growth in a particular industry. Likewise, it can be difficult to start a business or an acquisition in your own country due to adverse situations: political or regulatory environment, lack of resources and more. In this situation, it makes sense to consider an overseas option that offers greater opportunities for growth, development, and success.
Company registration in Jordan When starting a business in Jordan, an interested investor must conduct due diligence regarding legal procedures, international regulations and sufficient investments for success. It is crucial to understand cultural, social and political factors that influence starting and growing one's business. Failure to do so may result in unintended consequences. Poorly researched and toneless international launches often end in disaster as time, money and energy is wasted due to poor planning.
Legal Documents Every country in the world presents its own intricate challenges when it comes to starting, developing and maintaining a business. Owners, financiers and investors must make these commitments with the support of a knowledgeable and experienced legal team. Only someone with in-depth knowledge of local and international corporate law will be able to set up an overseas business while avoiding the pitfalls that plague many new businesses.
Additionally, smart business people can consider ways to invest in foreign companies without actually starting their own businesses. In these situations, it is still beneficial for the investor to partner with a knowledgeable global economics and litigation advisor. International investments create a truly diverse portfolio that offers growth opportunities that were unthinkable decades ago.
Potential investors, venture capitalists and entrepreneurs should consider the existing infrastructure in Jordan when planning to start a new business. While extensive infrastructure and systems can help make the process of starting a business a smooth one, it could also represent market saturation and reduced growth potential. On the other hand, a lack of infrastructure is often a major obstacle to growth; However, the lack of infrastructure points to a clear market opening for a creative and efficient new business.
Bank account opening in Jordan In connection with the formation of a company, it is necessary to open one or more bank accounts in Jordan. Confidus Solutions offers the ability to open a bank account in over twenty jurisdictions, making it easy for you to avoid challenging language barriers or bureaucratic hassles.
Virtual office in Jordan Since a registered address is a necessity for international business, Confidus Solutions enables foreign investors to set up a virtual office in Jordan. This address allows international entrepreneurs to accept mail, arrange for shipping and set up a registered bank account in their country of business.
Tax regulations If you are in the process of researching a business formation in Jordan, consult a lawyer or consultant with extensive experience in the area you are considering. This advisor can help you with everything from laws and tax structures to local helpers. You need to consider every aspect from the local office to your highest organizational structure; Make sure you recruit the best possible mentors as you embark on this exciting but challenging process.
IBC or International Business Company, or as it is also called International Business Corporation, is basically an offshore company which, according to the laws of some jurisdictions worldwide, is usually founded as a tax-neutral company, i.e. not subject to tax in the country of incorporation. It is also limited to the direct business activity that it may carry out during its activity in the context of the jurisdiction in which it is incorporated.
Importance and main functions of IBC IBC characteristics can often vary by jurisdiction, however, they usually include business confidentiality, the ability to issue stocks, the provision of a local registered agent or branch office, and local corporate tax exemption as the majority of offshore jurisdictions do Removing IBCs from local taxation while reducing corporate tax to zero to avoid harming the entire offshore finance industry.
Such companies are generally formed for offshore banking, international investment, asset protection, real estate and intellectual property ownership, and other business activities related to international trade.
A list of jurisdictions that offer IBC as a business structure
As it says in Streber Weekly, there are many jurisdictions that offer IBC as a business structure. The list of such jurisdictions is quite long: Antigua and Barbuda, Anguilla, Barbados, Bahamas, Belize, Brunei, British Virgin Islands or BVI, Cook Islands, Comoros, Dominica, Grenada, Gambia, Mauritius, Marshall Islands, Monster Council, Nauru, Saint Lucia, Samoa, St. Kitts and Nevis, St. Vincent and the Grenadines, Seychelles and Vanuatu. This list includes most jurisdictions without considering their worldwide reputation. Some popular offshore jurisdictions, not mentioned earlier, offer territorial taxation and other tax incentives in place of IBCs. These business structures can operate as exempt companies, free zone companies or non-resident companies etc. without the ease of IBC companies: Panama, Hong Kong, Cayman Islands, Turks and Caicos Islands (TCI), United Arab Emirates (UAE), Bermuda.
For example, the Panama jurisdiction generally lends itself to International Foundation or IBC in terms of asset protection. The Hong Kong jurisdiction in general is also suitable for international trade due to the favorable tax system, as withholding tax, capital gains tax, capital gains tax, VAT and other types of taxes are not levied.
Most reputable IBC jurisdictions British Virgin Islands (BVI) are identified as the world's leading offshore business hub with more than 450,000 operating companies registered in their territory. It is often referred to as the grandfather of all IBCs. International international business corporations have a fairly good reputation in other jurisdictions of this type for the ability to transfer the domicile and confidentiality of property rights for assets collected within the company. In general, BVI offers flexible, inexpensive and fast services for setting up international offshore companies.
The Seychelles can be alternatives to BVI offshore companies as this jurisdiction also offers ease of administration, simplicity and privacy. In addition, with more than 175,000 companies registered there, IBC is the most common type of company on islands. The IBCs of this jurisdiction are commonly used as a consulting and personnel services company, as well as holding company stocks, real estate and stocks.
Bahamas is one of the oldest offshore jurisdictions, considered to be a classic one as the BVI mentioned before as it is an independent and politically stable which has an improving reputation and is gambling friendly.
St. Kitts and Nevis has decent reputation while being also politically stable and having average to low costs. However, this jurisdiction is more popular for its Limited Liability Companies (LLC).
Saint Vincent and the Grenadines has merely low costs. It is quite politically stable with good reputation which has improved in recent years because of the gaining popularity due to financial operations carried out by Euro Pacific Bank and Loyal Bank.
Belize is also a great place for IBC formation. In frames of this jurisdiction IBC can be used with the purpose of international trade, asset protection, offshore banking, owning real estate, e-business or any other financial services.
Such IBCs are suitable for business transactions globally as well as making deposits and managing offshore investments such as bonds, mutual funds, stocks and other types of business services, while providing consulting and such professional services as management, corporate credit cards ownership, covering legitimate expenses etc.
The adult literacy rate in Mali is 38.7%. Male literacy is 48.2%. Female literacy is 29.2%. Therefore, male and female literacy differ by 19%. Government spending on education is 4.4% of GDP. Mali's education index is 0.305 – formal education levels are low and mostly limited to primary and secondary school levels at best; Higher education is possible but not very common. The people of Mali speak the French language.
English language It is not known how many people speak English in Mali and at what level they speak English. Most likely, there are no native English speakers, or their number is undetectable by standard statistical methods.
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