Polish corporation with bearer shares - new offshore strategy

[PolishCourier]

Since long time you have been using offshore company and now you face Common Reporting Standard problems and your state is getting more and more agressive when it comes to tax collection? That is a problem indeed and it seems it is a last call to change your offshore business strategy.

In case you come from heavily taxed EU country it may be time to switch to Polish LLC or Polish corporation with bearer shares.

Bearer shares will give you anonimity you desire so much, whilst basic Polish coporate income tax rate is 15% (for businesses with annual profit below euro 1,200,000) and it has been already planned to switch it to 9% in 2019. There are no obligatory social insurance fees for this kind of companies - does it sound good to you comparing with your national LLC or S.A.?

Advantages:

• low CIT rate - 15% (planned to switch 9% for small businesses in 2019),
• superb banking services and reliable bank sector in SEPA zone,
• stable EU country with low unemployment,
• bearer shares for Polish corporation,
• lower prices of consulting, accounting and bookkeeping services comparing to other EU or NAFTA states.

Disadvantages:

• no corporate directors allowed,
• Polish corporation requires 3 person supervisory board,
• Polish state officials rarely speak English

I personally think it is very good option for software, consulting and IT businesses. When it comes to cryptocurrency dealing - this one is tricky cause banks became not too friendly for cryptocurrency dealers.

 

[Samuel Newman]

Sounds interesting!
Thanks for sharing

It is difficult with crypto everywhere now
Do you know any crypto friendly banks?

 

[PolishCourier]

Since new instructions from Polish regulatory body all banks are reluctant to hear anything about cryptocurrencies right now. Maybe some small communal banks (there are more than 170 so called cooperative banks and they tend to be less strict in their approach) will allow this kind of account, problem is that they usually do not have websites in English.

There are foggy plans to make some kind of cryptocurrency regulation and after that banks should return to deal with crypto companies.

 

[Milky Moon]

For a JSC the minimum share capital requirements are PLN100,000 (about EUR25,000), bearer share certificates cannot be issued before the full payment of the corresponding capital contribution!

 

[JohnLocke]

So the Polish banks accept bear shares while the rest of the world have decided not to allow this type of shares any longer. Sounds like Poland.

Otherwise it sounds like a valid and good alternative to the many other jurisdictions around.

lower prices of consulting, accounting and bookkeeping services comparing to other EU or NAFTA states.

What is the average cost per hour for an accountant and lawyer in Poland?

 

[void]

So the Polish banks accept bear shares while the rest of the world have decided not to allow this type of shares any longer.

How did you come to this conclusion? Do you believe that banks in EU country will not ask about the real UBO nowadays and will be happy let's say with a director? I don't think so.
Anyhow bearer share (no matter how strange it sounds in the context today) would be nice to at least protect the owners from the public which has it's value for an EU based company.

 

[Samuel Newman]

How did you come to this conclusion? Do you believe that banks in EU country will not ask about the real UBO nowadays and will be happy let's say with a director? I don't think so.
Anyhow bearer share (no matter how strange it sounds in the context today) would be nice to at least protect the owners from the public which has it's value for an EU based company.

it looks like only way to have company with bear shares is to incorporate in USA
also, US banks do not care about UBOs and even do not know such definition