Poland's Constitution for Business to help foreign investors
A package of five laws known as the Constitution for Business, which are aimed to facilitate running business in Poland, came into force on April 30. One of the laws focuses on improving the business environment for foreign investors.
The act sets rules and controls the forms of participation of foreign entrepreneurs in economic activity on the territory of Poland.
"The regulations, which were earlier scattered over several pieces of legislation, have been comprehensively and consistently organised into one, dedicated to foreign entrepreneurs and become a legal act," Deputy Minister of Entrepreneurship and Technology Mariusz Haladyj told PAP.
As he noted, thanks to these changes, every foreign entrepreneur will be able to find in one act the most important regulations that are in force in Poland.
"This will improve orientation in the requirements of Polish law and will facilitate foreign investments in Poland," he stressed.
The new laws will bring about a significant change in the functioning of entrepreneurs and improve the quality of relations between business and public administration, as well as simplify administration procedures.
The most important law in the package is the one affecting the rights of entrepreneurs. It institutes the principle of unregistered economic activity and allows individuals conducting small-scale business activity (with monthly income up to half of minimum wage) to run their business without registering them and without paying monthly social insurance contributions. The "starters' relief" meanwhile, provides that entrepreneurs just starting out do not need to pay social insurance contributions for the first six months of their business activity.