Both Ukrainian companies and individuals are now seeking to open an account in a Polish bank. Poland remains one of the most convenient destinations due to its proximity, currency stability, and clear banking procedures. At the same time, opening an account in Poland is not just a formality, but a legal process with KYC requirements, verification of sources of funds, and the risk of rejection even if you have a full package of documents.
Every year, Polish banks tighten their internal compliance procedures, in particular, they require confirmation of the company's economic presence in Poland (substance) or a personal visit of the client to the branch. It is becoming increasingly difficult to go through all the stages of opening a Polish bank account on your own, especially if you are opening a corporate account in Poland for a non-resident.
In this article, I would like to share how opening a Polish bank account for individuals and companies works, what types of accounts are available, what documents banks request, and answer the most common questions of our clients.
Opening a personal account in Poland
Due to the instability of the hryvnia and the economic situation in Ukraine, more and more citizens are seeking to keep their funds in a stable currency. Poland has become one of the most convenient destinations - due to its geographical proximity, simplified banking requirements and no minimum deposit on the account - opening an account in a Polish bank allows Ukrainians to protect their savings, gain access to the European banking system and conveniently make international payments.
Is it possible to open an account in a Polish bank if you stay in Ukraine and do not plan to move to Poland?
After all, citizens of Ukraine who are in Poland can visit any bank branch and open an account directly on the spot. As for those who stay in Ukraine, opening an account for Ukrainians is possible, but the procedure is a bit more complicated, since Polish banks are obliged to identify the client, check his identity, address of residence and tax status in accordance with the requirements of Polish law and international KYC (Know Your Customer) standards.
Can I open an account during a short trip to Poland?
If you are coming to Poland as a tourist, some bank branches may agree to open an account for a Ukrainian with a foreign passport only. The reason is simple, the Ukrainian passport today has a "Green Flag" and most banks understand the situation with the war and are loyal to the citizens of Ukraine and have special programs for Ukrainians.
And whether you will be able to fully work with this account in the future is an asterisked question, so we advise you to do everything right from the very beginning in compliance with all the requirements of the bank.
What do I need to open an account in a Polish bank?
To open an account in Poland, an individual needs to provide:
- a document confirming the place of residence in Poland (residence permit, lease agreement or letter of temporary address);
- PESEL identification number;
- a foreign passport of a citizen of Ukraine;
- an additional identity document - most often a driver's license or internal passport;
- a Polish SIM card (to activate online banking and confirm transactions).
How KYC works: what is asked of the client
In order to correctly fill out the application form for opening an account in a Polish bank, you need to prepare answers to the following questions:
- Full name and surname
- TIN (individual tax number)
- Full residential address (with postal code)
- Correspondence address (if different from the residential address)
- Phone and e-mail addresses
- First and last name of parents
- Passport series and number
- Passport validity period
- Place of birth
- Mother's maiden name
- In what currencies the account is required (e.g: PLN, EUR, USD)
- Whether cards are required for the account
- Rationale or reason for opening an account in Poland
- Source of funds (salary, business income, dividends, etc, other)
- Planned monthly account turnover in each currency (approximately)
- What type of transfers will be dominant (cash / non-cash)
- Where will incoming payments come from (from which countries, companies or sources)
- Whether you have a PEP status - i.e. whether you (or your close relatives) hold or have held an important public or political position
- Whether you are subject to US tax control (FATCA) - for example, if you are a US citizen or have a US tax residency
- Whether you have accounts with other foreign banks
These questions relate to compliance with KYC (Know Your Customer) and AML (Anti-Money Laundering) requirements, so a Polish bank is obliged to clarify them before opening a personal account.
Step-by-step procedure for opening a personal account in Poland
Our lawyers will accompany you at all stages of opening a bank account in Poland - from preparing documents to obtaining a bank card. You will not be left alone with bureaucracy or language barriers - we take everything under control.
In practice, the procedure for opening an account in Poland is as follows:
- Collection of documents, checking them for compliance with the bank's requirements and assistance in filling out forms.
- Arranging the date and time of your visit to Warsaw.
- Booking an appointment with the municipality to obtain a residence permit and PESEL number.
- Purchasing a Polish SIM card.
- Visiting a bank branch in Warsaw, filling out and signing bank application forms.
- Opening an account with a Polish bank.
- Accompanying you to the bank cashier if you wish to deposit cash into your account.
- Obtaining a card. The multi-currency card is delivered to our office in Poland, after that we send it to Ukraine via Nova Poshta. The average shipping cost from Warsaw to Kyiv is €20.
Please note that it is possible for a Ukrainian to open a card of a Polish bank - it is multi-currency. It is important to understand how a multi-currency card works! Usually, payments are debited in the currency of the country where the transaction takes place (in Poland - zlotys; in the USA - dollars; in Europe - euros).
What should I do if my Polish bank card is blocked?
Almost every day, we receive inquiries from Ukrainians who have opened accounts while in Poland and now do not have access to their accounts or their card is blocked.
Please note that after opening an account with a foreign bank, if you have any problems, you should call the bank's hotline. There are currently no branches of Polish banks in Ukraine that can unblock the card and restore access to the account. You need to call the bank! Most Polish banks have Ukrainian-speaking employees and will be able to help.
How to open a corporate account in a Polish bank?
Opening a corporate account in Polish banks for legal entities is a more complicated process than for individuals. Polish banks open accounts only for companies that have a real economic connection with Poland, namely local counterparties, partners, rent premises, warehouses, etc.
We cooperate with the corporate divisions of Santander Bank Polska, PKO Bank Polski and BNP Paribas Polska, which have clear regulations for working with international entities.
Often, clients ask why we do not open accounts with Millennium or PEKAO S.A. The answer is simple: we work for results and value professionalism. Therefore, we choose corporate branches of banks that are currently well versed in opening accounts for non-resident companies and Ukrainians, and can provide full support on all issues remotely.
What do foreign companies need to know before submitting documents?
These tips and tricks apply to non-resident companies whose beneficiaries are citizens of Ukraine and other European countries.
Presence of a connection with Poland
Today, Polish banks open accounts EXCLUSIVELY for companies that have a confirmed connection with Poland. That is, if the company does not yet have a history of transactions with Polish counterparties and partners in Poland, you cannot apply for an account.
As a rule, after registering a company abroad, we recommend that you first open a company account in a payment system, for example Payoneer, 3SMoney, and after the company has been operating for 3-6 months and has conducted transactions with Polish counterparties, you can apply for an account in Poland.
How can I confirm my connection with Poland?
You can provide the following documents:
- lease agreements for offices or warehouses;
- contracts with Polish counterparties and confirmation of transactions with these counterparties;
- invoices and letters of recommendation.
Package of documents for opening an account in Polish banks
To open an account in a Polish bank, all corporate documents must be apostilled and notarized with a translation into Polish. The translation of documents must be done exclusively by a sworn translator in Poland.
To open a corporate account, a Polish bank requests:
- Corporation certificate;
- Company articles of association;
- An up-to-date extract from the register;
- Register of beneficiaries (UBO);
- Power of attorney or other documents if there are other structures in the company.
Please note that even if Poland has a signed legal assistance agreement with the country where the company is registered and an apostille is not required under the agreement, the bank still asks for corporate documents with an apostille. This is the bank's right, so you need to comply with these requirements.
KYC for companies: what the bank checks
When opening a corporate account, the bank conducts a detailed check of the company and its beneficiaries.
In addition to the basic documents, the manager needs to be provided with the following during the KYC process:
- Full details of directors and ultimate beneficiaries (including maiden names and parents' data);
- Countries where the company operates;
- Major counterparties and amounts of future payments;
- Ownership structure of the group of companies;
- Company's revenue for the previous year;
- Number of employees as of December 31 of the previous year;
- General balance sheet and income statement, if available.
- Accounts in payment systems or other banks.
At this stage it becomes clear whether the bank will open an account and whether a visit to Poland is required. The standard period of preliminary verification of the client after receiving all the necessary documents is 10-20 business days (depending on the bank's workload).
Visit of the director to the bank branch
After receiving consent to open an account, we organize a meeting with the company's director to sign bank forms and provide original documents. You can sign the documents for opening an account at bank branches in different cities of Poland (depending on the city).
Is it possible to open a corporate account in Poland remotely?
After receiving the bank's consent, the company's director can visit the Polish consulate or a notary to certify the signature on the bank forms. After certification, all documents in the original are sent to the bank branch. The list of documents to be certified is individual.
Tips and practical cases of opening an account in Poland
Opening an account for a Cyprus company with nominee service
When opening an account for a Cyprus company, we faced an important requirement of the bank - the agreement with the bank must be signed exclusively by the company director, not by a trustee. This was a crucial point, as the company was structured as a nominee service, which is quite common in Cyprus.
The company was not under our service, and the nominee director visited the Polish consulate on his own to sign the documents. However, he invoiced the client for his services for a significant amount.
Thus, if a company uses a nominee service (especially in Cyprus), it is worthwhile to clarify with the nominee the cost of its services and the possibility of visiting a bank branch in Poland or a consulate in advance.
Opening an account for an Estonian company with several directors
When opening an account for an Estonian company with two directors with the same signature right, a situation arose where one of the directors could visit the bank in person to sign documents, and the other could not leave Ukraine. We agreed with the bank that only one director would sign the account opening agreement. After the account was opened, he got access to online banking, where he was able to add the second director as an account manager. Thus, both directors received the same signature rights in the bank.
We recommend that you always discuss all possible nuances with the manager in advance to find a compromise.
Refusal to open an account without official reasons
In our practice, we had an interesting case with a Latvian agricultural holding. Despite the impeccable company structure and transparent financial documents, PKO Bank refused to open an account. As it turned out, the bank does not open accounts for Latvian companies or even for companies where the beneficiary is a Latvian citizen. This position is not officially enshrined, but such restrictions are not uncommon and often appear only at the stage of real interaction with the bank.
When working with Polish banks, it is important to take into account not only official requirements, but also unwritten rules that manifest themselves in practice.
Opening a bank account for a German sole proprietor to receive VAT refund from Poland
We were contacted by a client - a German sole proprietor (Einzelunternehmer) who used to work in Poland, had a Polish NIP number and paid Polish VAT. A few years later, when the client stopped working in Poland, the Polish tax office sent him a notice about the possibility of a VAT refund. In order to receive the refund, it was necessary to have a business account in a Polish bank.
The peculiarity of working with German sole proprietorships is that there is no single national register of sole proprietorships in Germany where you can check the current information or get an extract. German sole proprietorships are registered with local trade offices (Gewerbeamt) and receive a confirmation document "Gewerbeanmeldung" or "Unternehmensanmeldung". Because of this, most Polish banks refused to open an account for a sole proprietorship, as they could not verify the relevance of the data in the unified register. Thanks to our hard work and personal negotiations with the bank manager, we managed to open a business account for the client. As a result, the client successfully received a VAT refund from Poland.
Sometimes the key to success in opening an account is not only the availability of documents, but also experience in communicating with banks and knowledge of the intricacies of international business.
Legal support and experience are the key to successful account opening in Poland
We have been working with Polish banks for many years and know what exactly managers can demand from a company.
Every year, the process of opening an account in a foreign bank becomes more complicated, foreign banks increasingly require a resident business and account holders to reside in the country of bank registration.
Poland still remains a country that accepts non-resident entities to open accounts and provides a high level of service for Ukrainian clients. Despite our extensive experience with opening accounts, we are always open to new unexpected cases and will be happy to help you with registering a company abroad and opening accounts.
That is why legal support during account opening is key. We don't just submit an application on your behalf - we prepare the bank for your case, explain the business structure, prepare justification of the sources of funds and ensure a real result - an opened account.
