Special Economic Zones expand and attract investment in Poland

At the brink of 2017, Special Economic Zones in Poland changed their borders. This means even more opportunities for investors to grow their business and take advantage of the favourable conditions and government support these areas offer to business.

In Poland, there are 14 Special Economic Zones. These are special areas where entrepreneurs enjoy unique privileges and incentives, e.g. low tax rates or even tax exemption with regard to certain levies. Polish government created the zones to attract investment into selected regions, and thus boost their development and employment. This strategy is working, as more and more investors decide to go on with their plans and build their plants and other facilities in Special Economic Zones.

Special Economic Zones in Poland are governed by the Act on Special Economic Zones of 20 October 1994. Other important documents are 14 regulations of the Council of Ministers referring to each of the zones. They stipulate the boundaries of each zone, among other things.

Recent amendments to the legal acts extended the area of the investment zones. The Ministry of Development hopes the move will attract foreign investment in the amount of 16 billion PLN (equivalent of around 3.6 billion EUR) which will translate into more than 85 thousand jobs.

The zones will soon welcome new investors operating in such fields as manufacturing of rail infrastructure, plane engines, biocomponents, electric components or premium glass.

They will find themselves in good company. Among the companies already operating in Special Economic Zones in Poland are such global corporations as Shell, LG, Dell and Procter & Gamble.

According to current regulations, Special Economic Zones will operate at least until 2026. The zones are opened by the Polish government. To operate in one of the zones, prospective investors need to file an application and be granted consent. The application should include such information as the planned investment period, the maximum amount of the qualified costs and employment.