Poland is a good place to start a corporation in Europe, and the region has a lot of commercial chances. International entrepreneurs enjoy similar privileges as natives when it comes to forming a business and opening a bank account and exposure to a variety of benefits and Exclusive Industrial Zones.
To conduct a business or to move to Poland, you would require a bank account. Opening a bank account in Poland can help you in business and plan to continue your education or stay there for work.
Follow this article to learn everything you want to know about opening a bank account in Poland with the least amount of hassle.
Requirements
Both residents and non-residents are permitted to create a bank account in Poland. But, if you don’t speak Polish fluently, understanding out what’s required can be difficult, as regulations differ from account to account. This is particularly the case if your resident visa hasn’t been sorted out yet. If you are not yet a Polish citizen, certain banks have services specialized to your situation.
They’ll probably inquire about your passport and evidence of citizenship in your homeland. If you prefer to create an account before applying for a residency visa, keep in mind that your options for banks and wallets will be restricted, mainly if you’re traveling from a nation beyond the Euro Zone.
Documents
Although if you have a valid residency card, it’s always a good idea to double-check the precise paperwork necessary by your preferred bank. Nevertheless, you can anticipate being requested to submit the following basic documents:
- Evidence of Income
- Electric or gas invoices, financial records, or other legal letters. [2]
- You’ll require evidence of identification in the form of a government-issued paper.
[1] If you need extra choices, you will most likely be required to provide evidence of income. A contract/letter of job and, in many situations, a yearly tax report and statement from the Tax Agency for entrepreneurs are examples of this.
[2] You will also have to supply a PESEL card if you are creating a residential account. When you confirm your home in Poland, you will be given a PESEL registration.
Procedure for establishing a bank account in Poland
If you have a residency card, a PESEL registration, and a registered property in Poland, the banking institutions will simplify the procedure. Commercial banks allow you to go into an office with all of the necessary documentation. Nevertheless, it would be best if you allowed the procedural and waiting hours before your request is accepted, and your bank account is completely functional. Besides the period it takes to issue the debit/credit cards, the usual delay period is around four and fourteen days. This can be more difficult if you have not yet landed in Poland or landed without a valid residency visa.
Online bank account in Poland
If you are already a Polish citizen, you can establish a bank account digitally easily. But, many institutions will not allow you to create an account online if you emigrate to Poland, although you have not already relocated there. This barrier can be overcome by selecting a non-traditional or regional branch that is part of a worldwide banking organization with which you already have a link.
Things to keep in mind when choosing a bank in Poland
In Poland, there are over 600 various banks to select from, including both commercial and government ones. That implies you’ll need to collect certain crucial data to assist you in filtering out your options. To begin, double-check that the bank you’re considering admits non-residents. Secondly, see if the bank allows you to work with various currencies.
The majority of banks have English-speaking employees and call centers. There may, nevertheless, be certain instances. When finalizing an agreement, double-check the preferred languages.
