Posts by adamm19830

adamm19830

18 Jun 2016

Law / Can a UK company earn in PLN? Foreign currency and mortgage in Poland. [22]

Very interesting comments Peterweg. We have employed a Polish Tax advisor and they have categorically told us in writing that we can leave our business in the UK and still reside in the Poland without paying polish tax or ZUS. Our consultant/advisor has quoted us all the statutes that would allow us to do this. She also told is this can be set in concrete by the ministry of finance for a small fee and the local tax offices cannot override it. This is a professional we have employed.

The mortgage is the main problem for now. I'm in the middle of speaking with millennium bank now.

The tax rate you mention in Poland is called "line tax" where you pay 18-19% flat rate and lay your ZUS fee. You don't get your tax free allowance like the UK though. Our consultant has told us that keeping the business in the UK is the best option for us for cheaper tax reasons and as mentioned before has stated this as possible.

Thanks

adamm19830

17 Jun 2016

Law / Can a UK company earn in PLN? Foreign currency and mortgage in Poland. [22]

I should have said that our company is a UK based self employed partnership however I can change this to a ltd company if needed.

Every bank in Poland I have spoken to have said I need to be earning in PLN rather than GBP. If I can show them that without having to pay Polish tax then everything is fine.

I can avoid paying Polish tax because I won't have a Polish income. My tax consultant has told me this. I also won't have to pay ZUS as I will get healthcare covered by the EU. As long as I don't have a Polish income everything is fine. I just need to satisfy the banks for the mortgage.

adamm19830

17 Jun 2016

Law / Can a UK company earn in PLN? Foreign currency and mortgage in Poland. [22]

Hello,

I'm seeking some advice. I am the owner of a UK company and I have employed a Polish Tax advisor. Ultimately I am looking to relocate from the UK to Poland. My Polish tax advisor has advised that our company can be left in the UK whilst we live in Poland without any problem. This is great as she told me we would only need to pay UK tax.

However, this now poses a problem for us when it comes to getting a mortgage. Our financials more than satisfy the Polish mortgage criteria other than the fact we earn in GBP. The banks have told me if we earn in PLN than we can get a mortgage without a problem.

Here's the question - Can I somehow show the UK company earns in PLN to satisfy the banks request?

Thanks

adamm19830

17 Jun 2016

Real Estate / Best Mortgage Lender in Poland? [25]

Oppenheim Kredyt

Do they have a website? My quick search on Google isn't coming up with anything

adamm19830

15 Jun 2016

Real Estate / Best Mortgage Lender in Poland? [25]

Merged: Good Mortgage Broker

Hello,

Could anyone recommend any good mortgage brokers in Poland?

I am buying a house in Lublin if that helps.

Thanks

adamm19830

15 Jun 2016

Real Estate / Polish Bank - Mortgage in Foreign Currency [2]

Hello,

I'm looking for a Polish bank that offer a mortgage in a foreign currency (GBP)

I have spoken to GetIn bank and they do not offer it.

From searching on here I can find old threads where this has been discussed, I just wondered if anyone had any recent knowledge. I am aware of the change that happened earlier this year that made things more difficult.

If anyone knows of a Polish Bank that still offer this please let me know.

Thanks

adamm19830

14 Jun 2016

Real Estate / Bank for mortgage in Poland? - I have an excellent credit ratings [4]

Merged: Best Polish Banks for Mortgage

Hello,

I am moving to Poland very soon and I would like to know the best banks to obtain a mortgage in Poland. I am British and my wife is Polish, we are both Directors of our own company.

We have employed a tax consultant in Poland and we have been been told the best situation for us regarding our tax setup so the next step is a mortgage.

Thanks in advance.

adamm19830

25 Apr 2016

Law / Your experience as a foreigner running a small business in Poland [43]

I (uk citizen) am moving to Poland towards the summer with my wife (polish) and our 2 children.

We run our own online company here in the UK and we have employed a polish tax advisor to suggest the best route for us. Poland is very different for paying taxes than the UK. Polish taxes are considerably higher however if you have a clever tax advisor it can be avoided legally! :-)

I can't wait to get over there now. I'm heading over in May for meetings with our advisor and bank. Exciting.

adamm19830

24 Apr 2016

Life / Father moving back to Poland - about half way between Rzeszów and Ukrainian border [6]

Well done to your father. That's a big move.

I (uk citizen) will be moving to Lublin in the next few months with my family. I cannot wait. :-)

adamm19830

22 Mar 2016

Law / Moving to Poland with Business [8]

UPDATE - So on further investigation with our friend in the tax office over in Lublin, it appears the best way forward for us would be to close our company here in the UK and register it as a "self employed" business in Poland. We would fall under the 32% tax rate and also have to pay 445zl per month each for 2 years then it would jump to the higher rate.

This would be the cheapest way for us. We're taking a hit in paying more tax than here in the UK but the saving we gain from a Polish lifestyle more than makes up for that loss.

Our friend at the tax office has given us details to her friend that works for PKO bank and apparently they would be happy to give us a mortgage on the basis above. We just need to call her this week to organise. It looks like things are moving forward at last.

Onwards and upwards.

adamm19830

22 Mar 2016

Law / Employment forms and ZUS help (contributions as a self employed company in Poland) [4]

Merged: ZUS - new business owner

Hello,

I have read that if you open a new business in Poland (self employed business) then you only have to pay "preferential contributions" which is 445zl per month instead of 817zl per month.

Can anyone confirm this?

If this is true, does there become a point where it would change to the normal rate after a few years?

Any info would be good.

Thanks

adamm19830

15 Mar 2016

Law / Moving to Poland with Business [8]

Thanks, Would the cheapest way be to register as self employed in Poland then?

I have just received some advice from a person that works in a tax office in Poland.

As I now understand, our best route would be to transfer our UK partnership into a UK limited company. Then open up a Polish branch of the limited company. As the UK and PL are in the EU there would be double taxation relief meaning that we would only be taxed in the UK (corporation tax of 20%) and cannot be taxed again in PL. By doing it this way we would also avoid having to pay the Polish social security of 1100zl per month. The only downside of this is that currently as a partnership, myself and my wife get a large "tax free" allowance (approx £10,000 each) whereas if we go limited then the company will get just one £10,000 allowance rather than us as individuals.

adamm19830

15 Mar 2016

Law / Moving to Poland with Business [8]

Thanks for the reply. So in your opinion, would the easiest/cheapest way be to set our UK company up as a limited company?

If we do this, do we still need to pay the social insurance of 1100PLN per person?

And by turning our company into a UK LTD company, we just have to pay Polish Income tax instead of any UK tax? I don't want to by liable to pay taxes in both countries.

Thanks

adamm19830

15 Mar 2016

Law / Moving to Poland with Business [8]

Hello,

I'm refreshing something hat has been touched upon a few times but my situation is a little unique.

Myself (UK), My wife (Polish) and our 2 children currently live in the UK. We have our own UK registered children's clothing business here in the UK. It is a Partnership business and we are therefore both self employed.

We would like to move to Poland and continue our business. Our business is ran from our home. We would sell our UK house and buy a house in Poland for which we would need a mortgage for. We have already viewed many houses in Poland and have at last found the perfect house. We are I. The process of talking to Mortgage lenders and the tax office in Poland.........It is all very confusing and we keep hearing conflicting information.

As I understand - In order to get a mortgage in Poland we need to keep our business as UK registered. This is because if we made the business a Polish business they would need 2 years of Polish accounts to lend the mortgage money. I.e we would have to rent somewhere for 2 years before we could get a mortgage for our own house. We do not want to do this. Also, we need to somehow show that we earn in PLN. So we keep the business UK registered and have to show we earn in PLN, how are we supposed to do this correctly? All of our items on our website are priced in British Pounds. We use PayPal to receive money so would a simple solution be to convert our PayPal statements to show PLN??

Also, I understand that we would of course have to pay some form of tax in Poland. As we would be self employed in the UK, how would this work when living in Poland and what would we have to pay? I heard 1000PLN per month per person (myself and my wife) is that payment the equivalent to our NI in the UK?

There are so many questions that have been raised. This is just a start. Any info would be great. I'd like to speak to a British national that has done something similar too if anyone knows of anybody.

Thanks