Foreign exchange transaction services

Open an exchange office in Poland

Consistency of right decisions - successful business start-up 

How to open an exchange office in Poland

Want to do currency exchange - we see no barriers!
It is extremely easy to open a currency exchange office in Poland.
It is only necessary to obtain an entry in the Register of the National Bank, and for this purpose it is necessary to comply with a number of requirements to the founders and employees of the exchange bureau, as well as to the equipment and design of the exchange bureau itself.
In Poland, the income of an exchange office is obtained in two ways - as exchange rate difference and as commission from the transaction.
Currency exchange transactions in Poland are exempt from VAT.
Peculiarities of opening a currency exchange office

Who can establish

Any foreigner without a criminal record for an economic offence on the territory of Poland

Who can establish

Open an LLC or work as an entrepreneur

You can work both ways

Open an LLC or work as an entrepreneur

Do you need a cash register

You can work without a cash register

Do you need a cash register

Requirements to the premises of the exchange bureau

There are special requirements for both equipment and design of the exchange office

Requirements to the premises of the exchange bureau

What authorisations are required

Entry in the register of the National Bank is required

What authorisations are required

RODO Personal Data Protection (GDPR)

Due to the fact that currency or cryptocurrency exchange work involves the processing of personal data (name, surname, telephone numbers, e-mail and so on), the development and implementation of personal data protection mechanisms is required

RODO Personal Data Protection (GDPR)

Work according to AML regulations

All exchanges (currency exchanges and cryptocurrency exchanges) are institutions obliged (under the Anti-Money Laundering and Countering the Financing of Terrorism Act) to develop, implement and comply with the relevant regulations

Work according to AML regulations
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Opening a currency exchange office step by step

Registration of

Registration of sp. zoo (LLC) or registration as an individual entrepreneur
It takes 1-2 days to register an entrepreneur, about 7 days on average to register a limited liability company

Filing of declarations and information

After the registration of Sp. zoo is required to pay taxes on civil law transactions, submit information to the tax authorities, and enter information in the Register of Beneficiaries
You do not need to do this after registering as an entrepreneur

Opening a bank account

This has become increasingly difficult in recent times and can take up to two to three weeks in terms of time

Renovation and decoration of the premises of the exchange office

To open an exchange bureau, it is required to equip and decorate the premises of the exchange bureau in accordance with the requirements of the legislation

Staff selection

Employees must undergo medical examinations and occupational health and safety training

Employees directly involved in currency exchange should receive special training

What else you'll need

Develop and implement RODO regulations (GDPR)

Develop and implement AML regulations

Bottom line - how long does it take to open

The main time when opening an exchange office is spent on the selection and repair of premises.
It takes about a week to register.
The entry in the register depends on how quickly the premises are prepared (once the documents are submitted, the entry is made within 7 days).

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