Until the end of 2019 Polish companies can enter one of nine CEE markets and run a business for 12 months for monthly equivalent of ZUS* payment

Specialists from TMF Group, a leading provider of international administrative services, announced the initiative called ‘QuickStart CEE’ which will allow Polish companies and entrepreneurs to enter and establish for a year their new company or branch in one of nine Central and Eastern Europe markets for monthly equivalent of ZUS payment.

Companies and entrepreneurs taking part in TMF Group’s initiative can set-up their new companies or branches in Sofia (Bulgaria), Kiev (Ukraine), Prague (Czech Republic), Belgrade (Serbia), Ljubljana (Slovenia), Bucharest (Romania), Bratislava (Slovakia), Zagreb (Croatia) and Budapest (Hungary). For example, in Slovakia it takes 4 weeks to set-up a company on average, in a standard way.  

The initiative enables companies or entrepreneurs to start operations in one of nine central-eastern European countries and includes the set-up of a local limited liability company or branch, opening  a local bank account, providing a registered address in the capital of the countries listed and local corporate secretarial compliance services which include among others checking and filing of routine correspondence, maintaining the corporate records of the client and even holding the client’s annual shareholders meeting approving the annual accounts including the preparation of power of attorneys, if necessary, minutes of the meetings, management board report and the National Court Register forms.  

Dagmara Witt-Kuczynska, Operations Director, Poland at TMF Group, said: “We strongly believe that this initiative will help many companies and entrepreneurs unlock opportunities to broaden their operations internationally. It is a great chance for expansion in foreign markets for all sizes of companies and their owners – from start-ups founders who dream about dynamic international development to well-established companies wanting to expand while minimising risk”  

The outlook for the CEE region is optimistic, with positive growth numbers in all countries and regional growth forecasts set to exceed those of western Europe.

Dagmara Witt-Kuczynska, Operations Director, Poland at TMF Group, adds: “CEE countries have attractive average tax rates. Combined with low commodity prices (comparative to the rest of Europe), a highly educated labour force and geographical proximity to large, developed economies; the region offers a range of opportunities for international businesses.” „However, complex reporting and tax systems along with rapidly changing legislation and uncertain business transparency add challenges.” – adds Dagmara Witt-Kuczyńska.  

CEE has grown at a rate of more than 3% in the last three years, and is expected to grow at a higherthan - EU average rate in the future. The driving forces being stronger domestic demand, improved euro area growth prospects and increased absorption of the EU Structural and Cohesion Funds (SCFs). Many CEE countries also benefit from improved competitiveness compared to the rest of the world, thanks to attractive currency rates.

This opportunity will be available to all interested companies and entrepreneurs operating in Poland until the end of 2019. 

*The calculation refers to the amount of the ZUS contribution in the amount of PLN 1,316.97, applicable to persons conducting economic activity paying social insurance contributions from the base not lower than 60%. projected average monthly salary

Keywords TMF Group