The state of the real estate market in Poland, investments, business contacts and new markets

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The state of the real estate market in Poland, investments, business contacts and new markets: Yaroslav Romanchuk and Inga Livandovska were the speakers of the conference “Real Estate and Investments in Poland” by BBN

On November 23 top developers, urbanists, financial and legal experts and entrepreneurs gathered at the conference “Real Estate and Investments in Poland” held in Warsaw by the Ukrainian European Business Hub BBN.

Lawyer and managing partner of EUCON Yaroslav Romanchuk and tax consultant and advisor lnha Livandovska were the speakers of the event.

The organizers of the event are Best Business Network – Ukrainian-European Business Hub for business, which promotes and ensures effective partnership, cooperation, implementation of projects and collaboration between entrepreneurs.

The participants discussed the current state of the real estate market in Europe and Poland, in particular in the context of unstable economic situation, the current investment market and investment potential of the industry, the need to establish new business relationships and find new partners, financial instruments and aspects of taxation, development of urban planning, etc.

Yaroslav Romanchuk and Inha Livandovska began their presentation on “Legal subtleties of Poland regarding the acquisition of ownership of real estate and land in particular. Tax implications for residents of Ukraine” from the analysis of statistics on the number of commercial and residential real estate acquired by foreigners in Poland and the top countries whose citizens have acquired this property.

Within the framework of the topic the speakers analyzed items on the acquisition of property rights by foreigners, as well as the acquisition of shares in companies with real estate in Poland by foreigners, as well as on the necessary permission of the Minister competent in internal affairs, for which a foreigner must apply.

The lawyers outlined the content of the two possible conditions for granting a permit to a foreigner and their peculiarities. They stressed that it is important to consider the aspect of the area of real estate acquired by foreigners: 1) in order to meet their own living needs; 2) in order to carry out economic or agricultural activities in Poland.

The participants also received the necessary information on the acquisition of real estate by a company in which the co-owners are foreigners and the acquisition of shares in companies located in Poland that own real estate. As emphasized by the speakers, another important point is that non-compliance with the restriction or lack of the necessary permission leads to the invalidity of the acquisition of real estate.

The participants also received the necessary information on the acquisition of real estate by a company in which the co-owners are foreigners and the acquisition of shares in companies located in Poland that own real estate. As emphasized by the speakers, another important point is that non-compliance with the restriction or lack of the necessary permission leads to the invalidity of the acquisition of real estate.

Yaroslav Romanchuk and Inha Livandovska also outlined the process of paying the necessary taxes when buying real estate in Poland: thus, the tax on civil actions (PCC) and value added tax (VAT) must be paid. The experts took a closer look at the personal income tax (PIT) as individuals, the personal income tax (PIT) as individual entrepreneur in Poland and the corporate income tax (CIT).

An important aspect among the issues discussed is the process of opening a bank account in terms of competent preparation and avoiding common problems.

Mr. Yaroslav and Ms. Inga also looked at taxation issues through the prism of the BEPS implementation plan and its consequences. Important in this context is the point about the categories of taxpayers in Poland, as well as the start of the CRS system in Ukraine and the extension of the tax amnesty.

The speakers told about the activities of the Ukrainian Business Hub in Warsaw and the range of services and opportunities it provides to Ukrainian entrepreneurs. The Hub meets the needs of businesses to optimize time and resources, as entrepreneurs can get all the services they need in one place.

The speakers of the event were also: Galina Kheylo – President of Ukrainian Payment Systems Association, Vice President of Ukrainian Banks Association; Andrii Dligach – founder of Ukrainian Wooden Houses Cluster, founder of BOARD business community, head of Advanter Group, futurologist, strategist, visionary, innovator; Victor Zavgorodny – financier, Investment Banking, member of Developers Club, member of Urban Land Institute; Evgeny Malanushenko – co-owner of Developer Aurum-Estate Immobilienentwicklungs GmbH (Austria); Dr. Maximilian Weilz – Marketing Director, Nowa Bud Development; Andrzej Domianski – Director of Klub Przedsiębiorczości Warsaw, entrepreneur, author of “Citizen of the World”; Alexander Shakarupa – Development Director of Palmers Group Austria; Ihor Zhyzhych – investor, entrepreneur, owner of the European International Bizon Club; Olexandr Belyavsky – entrepreneur, builder, investor, blogger, online & off-line developer, founder of Arcus-A Development LTD corporation and Kontent production creative IT agency; Artur Lupashko – founder and CEO of Ribas Hotels, hotel developer, co-founder of Ukrainian Hotel & Resort Association.

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