How to Verify the Credibility of a Business Counterparty in Poland

When considering a partnership or transaction with a new business counterparty in Poland, it’s crucial to verify their credibility to mitigate risks and ensure the safety of your dealings. This guide provides a comprehensive overview of the steps and resources available to verify a business counterparty in Poland.

Why Verify Your Business Counterparty?

Before entering into a business relationship, verifying the credibility of your counterparty helps you avoid potential fraud, financial losses, and legal complications. It also protects you from tax liabilities associated with transactions involving dishonest entities. Additionally, thorough verification demonstrates due diligence, which is essential for compliance with tax regulations.

Key Resources for Verification

1. Central Register and Information on Business Activity (CEIDG)
   • Who Can You Check?: Sole proprietors and partners in civil law partnerships.
   • Information Available: Basic details, business activity status, address, type of activity, and any bankruptcy or reorganization proceedings.
   • How to Search: Enter the name, surname, NIP (Taxpayer’s Identification Number), or REGON (National Official Business Register Number) on the CEIDG search engine.
2. National Court Register (KRS)
   • Who Can You Check?: Commercial law companies like general partnerships, limited liability companies, joint-stock companies, etc.
   • Information Available: Company address, form of activity, identification numbers, entry history, representation methods, share capital, liquidation proceedings, and financial statements.
   • How to Search: Use the KRS search engine and enter the NIP, REGON, KRS number, or company name.
3. National Official Business Register (REGON)
   • Who Can You Check?: All types of business entities, especially those not covered in CEIDG.
   • Information Available: Basic business details.
   • How to Search: Enter the NIP, REGON, or KRS numbers on the REGON search engine.
4. List of VAT Payers – White List
   • Purpose: Verify the VAT status of your business counterparty.
   • Information Available: VAT registration status, registration dates, reasons for deregistration, and confirmed bank account numbers.
   • How to Search: Enter the account number, NIP, or REGON number on the White List search engine.
5. EU VAT Payers List (VIES)
   • Who Can You Check?: Business counterparties from other EU Member States.
   • Purpose: Verify VAT registration for intra-Community transactions.
   • How to Search: Enter the EU Member State and the EU VAT number on the VIES search engine.

Additional Verification Steps

• Tax Office Verification: You can request a certificate from the tax office to confirm whether a business counterparty has correctly settled their taxes.
• Debt Registers: Check the Register of Insolvent Debtors (RDN) and Business Information Offices (BIG) for any financial liabilities or debts associated with the business.
• Business Intelligence Agencies: Use the services of business intelligence agencies for in-depth financial analysis and creditworthiness checks.

Verifying Foreign Business Counterparties

When dealing with foreign entities, additional steps are required to verify their credibility:

• Online Checks: Verify the company’s registered office, website, and social media presence.
• References: Ask for and verify references from other clients.
• Foreign Business Registers: Use the European e-Justice portal for links to foreign business registers.
• Diplomatic and Trade Missions: Seek assistance from Polish diplomatic missions and trade organizations for more information.

Using dmsales.com for Verification of your partner

dmsales.com offers a comprehensive tool called ReferScore to help verify the credibility of business counterparties. By using ReferScore, you can access detailed data and insights about potential partners, ensuring that your business dealings are secure and informed.

For more information on using sales intelligence systems like ReferScore to verify business counterparties, visit dmsales.com/refer-score. we capture information about polish companies from 120 data registries private and public.

By following these steps and utilizing available resources, you can effectively verify the credibility of your business counterparties in Poland, ensuring a safer and more reliable business environment.