The Special Economic Zones in Poland are areas in the country where investors may set-up a company and run their business under preferential, pre-set conditions.
These areas were destined to become economic growth accelerators, hubs for innovation and technology development and an opportunity to attract foreign investments. Each of the fourteen Special Economic Zones in Poland is managed independently.
These special investment areas are distributed in various regions throughout the country. Our lawyers in Poland can help you with information about the specific characteristics of one of more of these zones, so that you may choose the most suitable investment site.
The characteristics of the Polish special economic zones
The Special Economic Zones (SEZ) allow for a number of general benefits for companies. These include an exemption from the corporate income tax for companies in Poland and an exemption from the personal income tax for individuals.
Each special investment zone allows for a maximum amount of income tax exemption. This “SEZ credit” is calculated according to the purpose of the new investment (capital expenditures, employment costs), the size of the company and the location of the new legal entity.
In Poland, small companies have less than 50 employees and an annual turnover below 10 m EU while medium-sized businesses have less than 250 employees and an annual turnover below 50 m EUR. The investment aid can also depend on a number of other different factors, such as the date when the SEZ permit was obtained. You can find out more about these rules from our Polish lwyers.
Conditions for operating in a Polish SEZ
SEZ projects and investments may begin only after the investor has the SEZ permit. Each of the special economic zones has its own management board and permit applications (and negotiations, if needed) are conducted on a regional level. The investor needs to submit a set of formal documents and make his offer to the SEZ. A series of formal meetings and/or negotiations take place before the application is approved or rejected.
Some of the approval criteria for companies that apply for a SEZ permit include R&D investments, those in the IT services sector, call center, auditing or accounting services and other investments in the improvement of products and services. Apart from the technology innovation requirements, applicants are also required to have a minimum investment cost and provide a minimum number of new jobs.
The team of experts at our law firm in Poland can give you detailed information about the Special Investment Zones and the conditions for operating within these areas.
Contact us to find out more about how you can benefit from investment incentives in Poland.