Immigration law

New reporting obligations for foreign investment firms operating in Poland

New rules took the form of a Regulation of the Minister of Finance of February 22, 2019 regarding the scope, mode and form as well as deadlines for submitting information to the Polish Financial Supervision Authority by investment firms, banks referred to in art. 70 sec. 2 of the Act on Trading in Financial Instruments, and custodian banks.

Foreign investment companies that pass their business to Poland in the form of a branch are obliged, among others, down:

  1. reporting to the Polish Financial Supervision Authority (KNF) of the most important activities related to operations in Poland (start, end, change in the scope of brokerage activities, etc.),
  2. submit quarterly statistical reports to the Polish Financial Supervision Authority, by the 20th day of the calendar month following the given calendar quarter, the first report should have been submitted by 20th of April 2019 for the first calendar quarter of 2019,
  3. submission of quarterly sales reports to the Polish Financial Supervision Authority, by the 15th day of the calendar month following the given calendar quarter, with the first report being submitted by April 15, 2019 for the first calendar quarter of 2019.

We encourage you to contact our Law Firm, which provides services in the field of foreign investment companies, including representation before the KNF.

Author team leader DKP Legal Piotr Putyra
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