Bank Account for a Polish Company — Foreign Owner’s Guide (2026)

Byattorney-at-law Piotr Zakrzewski

The bank account is where many foreign founders hit their first real friction. Everything else — company formation, VAT registration, e-signature — runs smoothly and remotely. Then comes the bank account, and suddenly there are AML checks, in-person requirements, and documentation demands. This guide explains how banking actually works for a foreign-owned Polish company, when you need a traditional bank versus an EMI, and how to avoid the common pitfalls.

Two Options: EMI vs Traditional Bank

There are two fundamentally different ways to give your Polish company a place to receive and send money.

1. EMI (Electronic Money Institution)

Providers like Wise Business, Payoneer, and similar EMIs offer business accounts that open remotely, usually within days. No visit to Poland, no in-person verification. For a foreign founder who wants the company operational quickly, this is almost always the starting point.

An EMI account gives you an IBAN, the ability to receive client payments, pay suppliers and expenses, hold multiple currencies, and integrate with accounting tools. For most service businesses, SaaS companies, and consultants, an EMI covers day-to-day operations completely.

What an EMI is not: it is not a bank. It does not offer credit, and — importantly — it cannot be used for certain interactions with Polish authorities that require an account held at a licensed bank (more on this below).

2. Traditional Polish Bank

A traditional bank account (mBank, PKO BP, ING, Santander, and others) provides full banking functionality — including everything the tax authorities may require. But it comes with a significant condition for foreign-owned companies: the beneficial owner usually must appear in person to open the account, as part of the bank’s AML/KYC verification.

This is the single most noticeable friction point for non-EU founders. It is not a legal barrier — it is a practical, logistical one. Polish banks have tightened their anti-money-laundering procedures, and for a company with a non-EU beneficial owner, remote account opening is rarely available. In most cases, opening the account means a trip to Poland.

Why Opening a Bank Account Is Harder Than It Looks

Founders often assume that opening a company bank account is a simple, form-filling exercise. For a foreign-owned company, it is not. Polish banks apply enhanced due diligence, and the documentation they require is extensive and specific:

  • Full corporate documents (articles of association, KRS extract, NIP and REGON confirmations)
  • Beneficial owner identification and the CRBR (UBO register) entry
  • Evidence of the company’s actual or intended business activity
  • Explanation of the source of funds and the expected transaction profile
  • Sometimes: contracts, invoices, or a business plan demonstrating genuine operations

The bank assesses this documentation before agreeing to open the account. If anything is missing, inconsistent, or raises questions, the process stalls — or the application is declined. For a foreign founder unfamiliar with Polish banking expectations and operating in a second language, assembling this package correctly is difficult.

In practice, opening a traditional bank account without the support of a lawyer or accountant who knows what each bank expects is genuinely hard. The documentation must be prepared, translated, and presented in the form the bank accepts — and the requirements vary from bank to bank. This is one of the areas where professional support makes the difference between an account opened in one visit and weeks of back-and-forth.

Do You Actually Need a Bank Account to Operate?

Short answer: you need an account, but not necessarily a traditional bank account. For most operational purposes — receiving payments, paying expenses, running the business — an EMI account is sufficient. Many foreign-owned Polish companies operate for months or years on an EMI alone.

However, there are specific situations where a traditional Polish bank account is required. Knowing these in advance lets you plan.

VAT Refunds — Polish Bank Account Required

This is the one that surprises people most. When your company is in a VAT-refund position — for example, importers and exporters who pay input VAT and reclaim it — the refund from the Polish tax office is paid to a Polish bank account. An EMI account will not work for receiving VAT refunds.

If your business model involves regular VAT refunds, a traditional Polish bank account is not optional — you will need one. This is important to plan from the start, because the refund can be substantial and delaying the bank account means delaying access to your money. → VAT registration guide

OSS — A Bank Account, But It Can Be Anywhere in the EU

Here is a useful detail that saves some founders a trip. For the OSS scheme (simplified VAT on cross-border B2C sales), your company needs a bank account to pay the OSS VAT — but it does not have to be a Polish account. A bank account in any EU member state is accepted for OSS payments.

So an e-commerce seller using OSS can, in principle, handle their OSS obligations through an EU-based account (including some EMIs with EU banking licences) without needing a Polish bank specifically for that purpose. This is a genuine simplification for cross-border sellers — though if the same company is also in a VAT-refund position domestically, the Polish account requirement still applies for those refunds.

The Practical Sequence We Recommend

Based on how foreign-owned companies actually operate, here is the sequence that works:

  1. Open an EMI account first. It is fast and remote, so the company can start operating immediately — receiving payments, paying expenses — while everything else is arranged.
  2. Assess whether you need a traditional bank account. If you will be claiming VAT refunds, or if a client or partner requires a licensed-bank IBAN, plan for a traditional account.
  3. Prepare the documentation properly before applying. This is where a lawyer or accountant is essential — the package must match what the specific bank expects. Getting it right the first time avoids weeks of delays.
  4. Plan the in-person visit if required. For most non-EU beneficial owners, opening a traditional account means one trip to Poland. Coordinate it so the account is opened efficiently in a single visit.

How LEXCARTA Helps

LEXCARTA supports the banking process, though it is important to be clear about what this means: we cannot guarantee that a bank will open an account — that decision belongs to the bank, based on its own AML assessment. What we do is maximise the chance of success and minimise the friction:

  • Documentation preparation — we assemble the corporate documents, CRBR confirmation, and supporting materials in the form banks expect
  • Bank selection guidance — different banks have different appetites for foreign-owned companies; we advise which are more likely to work for your profile
  • EMI setup support — for immediate operability, we help you get an EMI account running quickly
  • Visit coordination — if an in-person visit is needed, we prepare everything so the account can be opened in a single trip
  • Ongoing banking compliance — as part of our accounting and compliance service

The honest position: banking is the one part of setting up a Polish company that requires the most preparation and, often, a visit. But with an EMI covering operations from day one and proper documentation for the traditional account, it rarely blocks a founder from getting started.

Planning your Polish company and want the banking handled correctly? Check your eligibility or schedule a consultation.

Related: Complete guide for non-EU citizens · EU compliance & accounting