The British government is trying to attract more Polish entrepreneurs to start their business in Great Britain. Polish companies have been invited by the British Ministry of International Trade (DIT) to participate in the meetings as part of the European Fintech Mission 2018 in London.
About 50 companies from Europe, including 4 from Poland, took part in the meetings as part of the European Fintech Mission 2018 in London on Wednesday, February 14, 2018.
“We have been saying from the beginning that the UK will not turn its back on business in the face of Brexit, it will do anything to attract more investment. It is clearly visible in the actions of the British Ministry of International Trade. Polish entrepreneurs can count on the favor of British officials and stable conditions for the development of their own business, “says Agnieszka Moryc, Managing Director of Admiral Tax .
See also: Pensions of Polish entrepreneurs will be very low. A company in England is a guarantee of a higher benefit
At the invitation of DIT, representatives of the invited start-ups from the financial and technology industry (FinTech) took part on Tuesday and Wednesday in meetings with representatives of the British government and regional authorities, investors, representatives of banks and incubators, who were to encourage them to develop further activities in Great Britain.
“We wanted to show them the world of finance here and how to get the most out of this market – not only in London, but across the country. (…) We see a real chance that these companies can connect to the existing ecosystem with their solutions and achieve success in this competitive environment “- explained Bartosz Koziński, who works in the DIT mission at the British embassy in Warsaw, directly supporting Polish companies in preparing their plans. development in Great Britain.
A company in Great Britain as an opportunity for Polish business
According to estimates, there are as many as 50,000 people in Great Britain. Polish companies. Poles are the largest national minority in the UK, because, according to the calculations of the British statistical office, there are about a million of them in Great Britain. Unofficially, there is talk of two million. Companies in Great Britain are also run by many Poles who do not live permanently in the UK. https://www.youtube.com/embed/Li9Y1ugEcKQ
Great Britain tempts entrepreneurs with low taxes (19% CIT), a high tax-free amount (11,850 pounds, or about PLN 56,000 for each company employee) and additional opportunities to reduce the company’s tax base. The system of social contributions is less oppressive than the Polish one, after 10 years of paying contributions, the company’s director acquires the right to a British pension (its amount is approximately PLN 3,000).
“Poland still does not create favorable conditions for running a business. Most of the owners of successful enterprises in Poland move abroad because they are looking for less bureaucracy and lighter tax burdens. All this is guaranteed by countries such as Great Britain or Ireland, ”comments Agnieszka Moryc.
The lack of bureaucracy, a stable legal and tax system as well as lower taxes and fiscal burdens make Great Britain the country most often chosen by Polish entrepreneurs for doing business. The most frequently chosen form of business activity is a British limited company (LTD) – the equivalent of a Polish limited liability company.