Dentons to support investors as partner of Łódź Special Economic Zone

Dentons has become legal and tax advisory partner of the Łódź Special Economic Zone (LSEZ). The recent agreement signed with the Łódź SEZ covers joint projects, and primarily provides for the sharing of know-how and experience with investors interested in investing and developing their businesses in the Łódź SEZ, including the organization of events such as webinars and training sessions. Dentons has also offered to provide free-of-charge support in response to the current challenges faced by organizations investing in Łódź.

The investment advisory offered by the Dentons team will be holistic, with a particular focus on tax, subsidies and tax incentive issues, as well as employment and social insurance law issues.
"Our collaboration with the Łódź Special Economic Zone reflects our law firm's commitment to supporting local investments and businesses by sharing our knowledge, experience and practical skills. We see tremendous economic potential in this region. What is also clear is the accelerated growth engendered by the strategic approach taken by the Łódź SEZ. Progressive changes in the region have also become possible through efficient solicitation of and collaboration with investors. We are looking forward to effective collaboration, benefiting entrepreneurs and local residents alike in the Łódzkie region, which is one of Poland’s most attractive regions in terms of capital investments and business development," said Cezary Przygodzki, partner, Head of Dentons Warsaw Tax Team.

"In addition to the comprehensive services provided in connection with investments, including real estate acquisition, preparing the corporate tax structure, obtaining necessary administrative decisions, the investment process, building a team of employees, administrative inspections and court proceedings, we also support our clients in all legal and tax aspects of R&D and innovation activities by obtaining and granting subsidies, tax breaks and allowances, as well as other investment incentives. We have a long track record of success in obtaining support for our clients in other Special Economic Zones / the Polish Investment Zone in the form of EU and government subsidies. We also advise clients on tax breaks available on research and development activities, property tax exemptions and other forms of state aid. We are also gearing up to implement new R&D and business development tax breaks reliefs, expected to be enacted in 2022," added Dr. Michał Bernat, managing counsel in Dentons Warsaw Tax and Competition Law teams.

"The ever-changing circumstances, including those brought about by the pandemic, hardly make it easy for investors to decide to launch new projects. That is precisely why we want to provide advice that the entrepreneurs may use as a tool to efficiently navigate the changing environment. This will help create new and retain existing jobs. We see this as an opportunity to boost economic growth in the region and, consequently, secure a safe and stable future for its residents," said Aleksandra Minkowicz-Flanek, partner, Head of Dentons Warsaw Employment Law Practice.

"In the Łódź SEZ we support investors on many levels. We offer state aid, financial support for companies promoting development among their employees, as well as access to a knowledge base and other key support. Entrepreneurs know full well how difficult it is to find your way through the maze of changing regulations. Together with our partners we strive to make it easier for them to function through mentoring, consulting and solution-finding, e.g. in difficult legal issues. We are very pleased that the Partner Zone is joined by a law firm with such extensive experience and reputation as Dentons. This is also great news for our current and future investors who will now have the opportunity to work with Dentons," said Marta Zdrzynicka, Director of the Partnership and Communication Department in the Łódź Special Economic Zone.

In collaboration with Lodz Special Economic Zone, Dentons will strive to bolster the appeal of the Łódzkie region to potential and existing investors, thereby attracting more corporations to develop business in the region and to create new and retain existing employment. Businesses interested in setting up in the Łódź SEZ can apply for and obtain state aid worth up to 55% of eligible investment costs or two-year payroll costs. The available state aid will increase by an extra 5% starting 2022.