Opening a bank account in Poland – a long and complex process? Myth!

Bank Account in Poland – with AssistPRO:

  • Efficiently
  • At a competitive price
  • Free from bureaucratic hurdles
  • And with professional consultations

Opportunities

The changing global economic landscape is reinforcing international integration. Establishing strong connections with one country through a bank account held by a foreign company can significantly ease various business processes. Nowadays, not only large international corporations, but also small and medium-sized enterprises, maintain bank accounts in multiple European countries. For instance, having a bank account in Poland can greatly facilitate payment processes with Polish partners and suppliers, enabling transactions in the local currency and offering opportunities to invest in Polish investment products. This solution is particularly beneficial for businesses engaged in exporting goods to Poland.

While there is a prevailing trend in Europe to limit banking activities with non-resident clients, the banking sector in Poland has also been affected. Entrepreneurs in the Baltic states and many other European countries are no strangers to these emerging trends. However, the situation in Poland is comparatively favorable, although it does come with its own specific considerations.

Opening a bank account in Poland is possible for European Union registered companies with interests in the country, whether they are planning to expand or are already conducting operations within the Polish territory. Transparent organizational structures and genuine business activities are key prerequisites.

The main requirements for a non-resident legal entity (foreign company) to open a bank account in Poland include:

  1. Proof of connections with Poland, such as Polish residents as contracting parties (suppliers, clients).
  2. Description of the company’s activities, including actual and projected turnover within Poland.
  3. Presentation of the company’s organizational structure.
  4. No affiliation of the company’s shareholders with Russia or Belarus.
  5. Absence of the company in the Polish Ministry of Finance’s list of offshore companies.

To open a bank account in Poland, the following documents are typically required:

  1. Registration certificate and company establishment documents.
  2. Certified electronic extract from the Registry Center, along with information about the legal entity’s participants (translated into Polish if necessary).
  3. Documents confirming the authorization of individuals entitled to manage the account.
  4. Completion of the bank’s application forms.

Opening a bank account in Poland entails various intricacies, which non-residents should carefully consider. Therefore, we highly recommend leveraging the services of AssistPRO experts to streamline the process, ensuring an expedient and cost-effective experience when obtaining a bank account with a Polish bank.

The cost of opening a bank account in Poland can vary depending on several factors, such as the chosen bank, type of account, nature and size of the business, and additional services you wish to include in your account.

The cost of opening a bank account in Poland:

Bank account for a Polish company

Bank account for a foreign company in Poland
Starting a business in Poland is highly popular due to its comparatively low labor costs and its strategic location in central Europe.

In order to operate a business in Poland, it is necessary to open a bank account with a Polish bank. Having a current account is a requirement that is fulfilled after completing the company registration process. At first glance, it may seem that the most challenging part is already in the past, with the company being successfully registered. However, the reality often proves to be different, as opening a bank account in Poland can present its own complexities and hurdles.

 Non-residents are individuals or businesses who conduct business in a country where they are not permanent residents or registered. In simpler terms, they operate in a different country.

Opening a bank account in Poland for foreign companies is considerably more complex and requires approval from the bank’s headquarters. Only a few Polish banks offer this service to foreign companies, and regulations may vary among different regions. As a result, specific bank branches may deviate from the general policy. In practice, Polish banks often decline to open accounts for companies employing foreign individuals. For example, it may be more challenging for a Russian or Belarusian individual to open an account in Poland compared to someone from the UK. Unfortunately, appealing a bank’s negative decision is not possible, and the alternative is to explore assistance from other banks.

What can we offer?

We offer comprehensive support to legal entities in opening bank accounts in Polish banks, providing the following services:

  1. Bank Selection: We carefully assess your requirements and guide you in choosing the most suitable bank that aligns with your needs, ensuring it meets your specific criteria.
  2. Document Preparation: Our team efficiently prepares all the necessary documentation, ensuring that it complies with the bank’s requirements and regulations. We handle the paperwork promptly and accurately, saving you time and effort.
  3. Bank Visit Assistance: We provide valuable assistance during your visit to the bank, accompanying you and facilitating effective communication with the bank representatives. Our experienced professionals are there to address any queries or concerns that may arise.
  4. Translation Services: If needed, we offer professional translation services for documents, correspondence, or meetings with the bank. We ensure accurate and reliable translation to facilitate smooth communication and understanding between all parties involved.

Our goal is to simplify the bank account opening process for you, ensuring a seamless experience and saving you valuable time and effort. Please note that fees may vary depending on the chosen bank and additional services required.

Bank account opening fees in Poland start from 149 EUR*

*Please note that if the bank refuses the application, the remaining balance for the service is non-refundable.

What can we offer?

We specialize in helping legal entities open bank accounts in Polish banks. Our comprehensive services include:

  1. Bank Selection: We carefully assess your requirements and recommend the best bank that aligns with your specific needs and preferences.
  2. Document Preparation: Our experienced team swiftly prepares all the necessary documents, ensuring they are complete, accurate, and compliant with the bank’s requirements.
  3. Bank Visit Support: We provide guidance and support during your visit to the bank, ensuring a smooth and efficient process. Additionally, we assist in coordinating translation services to facilitate effective communication with the bank.
  4. Translation Services: If needed, we offer professional translation services for documents, correspondence, or meetings with the bank. We ensure accurate and reliable translation to facilitate smooth communication and understanding between all parties involved.

Our goal is to simplify the bank account opening process for you, ensuring a seamless experience and saving you valuable time and effort. Please note that fees may vary depending on the chosen bank and additional services required.

Bank account opening fees in Poland start from 259 EUR* + translation costs from 50 to 120 EUR

*Please note that if the bank refuses the application, the remaining balance for the service is non-refundable.

*Prices and rates are subject to change due to fluctuations in foreign country pricing, currency exchange rates, decisions made by AssistPRO, as well as changes in national or international taxes and fees. To receive an accurate proposal with pricing details, please contact us!

To ensure a successful bank visit and smooth opening of a Polish bank account without the need for multiple visits, we recommend following a few simple tips that will help you save time:

  1. Gather all the required documents from the bank and check their validity period.
  2. Submit all the documents to the Polish bank for review.
  3. Thoroughly examine the offers, account, and/or card conditions provided by the Polish bank, including service fees.

During the document review process, Polish banks assess the non-resident company’s connections to Poland, inquire about its business partners, and evaluate its scope of activities and organizational structure. Occasionally, banks may request additional information about the non-resident.

Currently, only a few banks in Poland allow the opening of bank accounts for legal entities established by non-residents. These banks include:

  • Santander Bank (Spanish financial group)
  • PKO BP (Polish state-owned bank)
  • BNP PARIBAS (French financial group)

You should also take into account that many bank branches and subsidiaries operate based on regional, city, and sometimes specific branch internal regulations. Therefore, a specific branch may refuse to accept your application, regardless of the bank’s general policy for non-resident clients.

How long does it take to open a company bank account in Poland?

The process of opening a company bank account in Poland typically takes between 3 and 20 days. During this time, the bank employees will review and verify the client’s documents, and the final approval will be granted by the bank’s headquarters.

Is it necessary to visit Poland to open a bank account?

Yes, a visit to any bank branch in Poland is required in order to open a bank account.

Which is the largest bank in Poland?

“PKO Bank Polski” is not only the largest bank in Poland but also a global giant. With a century-long history, it is one of the largest companies in the world. In the Republic of Poland, it has over 1,300 branches. The bank offers a wide range of financial services for both personal and business use. For more information about banks, you can read the article (click here).

If you have any questions, you can always contact us.
We are here to help you!