Foreign Exchange Controls

Payments connected with the conducted business activity, both with regard to domestic and to foreign turnover, shall be made or received via a bank account if a single transaction related payment, regardless of the number of instalments thereto, exceeds the total value of 15,000 PLN or the equivalent of this amount, and transactions in foreign currencies are converted into zlotys at the average exchange rate of foreign currencies announced by the National Bank of Poland on the last business day preceding the transaction date. From 1 January 2023, the limit of cash payments in transactions between entrepreneurs will be 8,000 PLN.

Polish business entities may open bank accounts in any currency; however, in practice the account provision of Polish banks is limited to the most popular currencies (EUR, GBP, USD). Transfer of funds to and from Poland is in general subject to no restrictions, regardless of whether it is the payment for provided services or goods or whether it is the payment of dividend or interest etc. Some limitations apply only to transfers between Polish entities and entities from outside the EU, outside the European Economic Area or those not being OECD member states.