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Invest in Poland
 
 
 
 
  How to do Business in Poland
 
CONTENTS
 
I. GENERAL INFORMATION 7
  Geography 9
  Climate 9
  Natural Resources 9
  Energy and Fuels 10
  Population and Language 11
  Political System and Government 12
  Government Administration 14
II. ECONOMIC ENVIRONMENT 17
  GDP and Inflation 19
  Budgetary Policy 21
  Foreign Exchange 22
  Foreign Debt 24
  Employment and the Labour Market 25
  Industry and Technology 27
  Agriculture 35
  Construction Industry 38
  Banking Sector 38
  Insurance Sector 43
  Pension System 48
  Telecommunications 50
  Power Industry 53
  Transportation Infrastructure and Highway Construction 55
  Outlook for 2005 and Beyond 60
  Co-operation with International Organisations 62
  UNIDO and its Activities in Poland 66
III. FOREIGN TRADE 69
  Customs Regulations and Duties 71
  Autonomous Tariff Suspensions and Quotas 73
  Duty Free Zones and Free Warehouses 74
  Refinancing Interest on Export Credits 76
  Foreign Trade Results 76
IV. PRIVATISATION 83
  Legislative Framework 85
  Ministry of the Treasury 85
  Privatisation Revenue 86
  Privatisation Objectives and Plans for 2005 and 2006 87
  The Multi-methods Approach 89
  Capital Privatisation 91
  Privatisation through Debt – Equity Swaps 92
  Direct Privatisation 93
  Agricultural Property Agency 94
  The Mass Privatisation Programme 97
  Restitution 98
  Capital Markets 99
V. FOREIGN INVESTMENT 105
  Legal Considerations 107
  State Aid for New Investments 110
  Special Economic Zones 112
  Institutional Structure for Foreign Direct Investments 114
  Why Invest in Poland? 116
  Foreign Investors’ Reasons for Investment 116
  What the Investors Say 119
  Foreign Direct Investment 121
  Polish Direct Investment Abroad 127
VI. POLAND IN THE EUROPEAN UNION 131
  Integration Process Overview 133
  The Accession Treaty 135
  Temporary Provisions 135
  Current Economic Developments 138
VII. TAXATION SYSTEM 141
  Taxes 143
  Capital Allowances 148
  Double Taxation Treaties 149
VIII REAL ESTATE 151
  Legislative Framework Governing Real Estate 153
  Purchase of Real Estate by Foreigners 154
  Permits Issued 156
  Transaction Costs 157
  Professional Services on the Real Estate Market 158
  Real Estate Market by Segments 159
IX. INDUSTRIAL AND INTELLECTUAL PROPERTY 167
  Patent Legislation 169
  Trademarks 170
  Copyrights 171
X. OPERATING IN POLAND 173
  Forms of Business Entities 175
  Establishing a Company 176
  Subsidiaries of Foreign Companies 181
  Competition and Consumer Protection 183
  Accounting and Auditing 185
  Public Procurement 187
  Bankruptcy and Insolvency 188
  Employees 191
  Employment of Foreigners 194
  Living in Poland 195
XI. TOURISM IN POLAND 199
  Visiting Poland 202
  Tourism Industry 208
XII. HISTORY OF POLAND 213
XIII. SOURCES OF BUSINESS INFORMATION IN POLAND 233
  Institutions 235
  Newspapers, Magazines and Other Publications 238
  Internet 239
XIV. APPENDICES 243
 
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