How to verify a company in Poland before doing business

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To verify a company in Poland before doing business, foreign investors should check its registration in the National Court Register (KRS) or Central Registration and Information on Business (CEIDG), value-added tax (VAT) status, signing authority, financial position and insolvency records. Basic checks are free, but registration alone does not guarantee commercial reliability.

Before signing a contract or making an advance payment, businesses should compare the prospective Polish partner’s registration, tax and financial information with the details provided during negotiations.

In this article:

Where can you verify a Polish company?

The main public registers include:

KRS – company registration, management and representation rules.
CEIDG – registration and operating status of sole traders.
Polish VAT Taxpayer Register (VAT White List) – VAT status and reported bank accounts.
VAT Information Exchange System (VIES) – validity of European Union VAT numbers.
Central Register of Beneficial Owners (CRBR) – reported beneficial ownership information.
National Register of Debtors (KRZ) – certain bankruptcy, restructuring and enforcement proceedings.

The Financial Documents Repository also provides access to financial statements filed with KRS.

How can you verify registration and signing authority?

The KRS provides company details, legal status, management board members and representation requirements.

If two board members must act jointly, a contract signed by only one will generally not satisfy representation requirements. Powers of attorney and commercial proxy authority should also be checked.

Sole traders should be verified through CEIDG, including any suspension or termination of business activity.

When can bank account payments create tax risks?

For business-to-business transactions with a single value exceeding PLN 15,000, payment to a bank account not listed in the Polish VAT Taxpayer Register may have adverse tax consequences.

The rules primarily concern certain payments to active VAT taxpayers. Consequences may include restrictions on income tax deductions and joint and several liability for VAT arrears.

Polish regulations provide exceptions, including mechanisms involving timely submission of a ZAW-NR notification concerning payment to an unlisted account.

For intra-EU transactions, companies should also verify EU VAT numbers through VIES.

How can you assess financial stability and debts?

Financial statements provide information on revenue, profitability, equity, liabilities and cash flows where reported.

Comparing several financial years can reveal potential concerns. Accounting profits do not guarantee liquidity.

The KRZ contains information about certain bankruptcy, restructuring and unsuccessful enforcement proceedings. However, an absence of records does not confirm that a company is debt-free.

For substantial transactions, businesses may also request certificates confirming no outstanding tax or contributions to Poland’s Social Insurance Institution (ZUS).

What warning signs should foreign investors consider?

Registration details inconsistent with the contract.
Unclear authority to sign agreements.
Sudden changes to bank account details.
Missing mandatory financial statements.
Bankruptcy or restructuring proceedings.
Orders disproportionate to operational capacity.

Several warning signs occurring together justify more extensive verification.

How can businesses protect their transactions?

The scope of Polish business partner due diligence should reflect transaction value, industry and risks of contractual non-performance.

For high-value agreements, investors should retain verification records and consider bank guarantees, documentary letters of credit, trade credit insurance or milestone payments.

Legal verification, financial analysis and assessment of operational capacity provide the basis for evaluating risks before establishing a business relationship with a Polish company.

Read the full article here:

How to verify a company in Poland before doing business – a guide for foreign investors

If you have any further questions or require additional information, please contact your business relationship person or use the enquiry form on the HLB Poland website.

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