The Assessment of the Influence of a Foreign Investor certificate is a document conforming the positive influence of a foreign investor on Polish economy. The investor is assessed in four main categories: Innovativeness, Economy and Rooting, Human Capital, Environmental Protection and Local Community. The entire study is consists of an analysis of 21 indicators.
FAQ
What are the benefits of holding an OWIZ certificate?
Assessment of the Influence of a Foreign Investor certificate increases the credibility of its holder in negotiations with central and local government, showing that the foreign investor supports the development of Polish economy. It can also give the investor a competitive edge in the eyes of present on future employees, and also increase the trust of local business partners as well as that of the end customer.
What happens if the results of the study are not satisfactory to the Foreign Investor?
The decision whether to publish the results of the study lies with the investor. In the case when the achieved results are not fully satisfactory, the investor may choose not to have them published. Similarly, publicly announcing the decision that the company is having the study carried out for certification purposes, lies entirely with the company.
Who can undergo certification?
The process of certification can be applied to those Foreign Investors (that is companies whose majority of shares or equities are held by entities registered outside of Poland), who have been operating on the Polish market for at least three years.
What needs to be done to positively complete the auditing process and receive the certificate?
To receive the certificate, the company needs to subject itself to a study by the auditing team. The certificate assesses each of the four categories on a 10-point scale.
What do each of the certificate’s categories mean?
Each of the categories corresponds to an area in which the investor subjected to the study affects Polish economy.
How is the audit carried out?
The audit is carried out based on a thorough survey filled out by the Foreign Investor. After the data are received, they are verified by the auditors visiting the Investor’s head office who check the correctness of the submitted information.
How was the methodology according to which the audit is carried out created?
The methodology is the original work of the experts of the Republican Foundation.
How much does it cost to conduct the Assessment of the Influence of a Foreign Investor study?
The cost of carrying out the study depends on the number of additional services included in the Assessment of the Influence of a Foreign Investor.
How long does the study procedure take?
The time that it takes to carry out the study depends primarily on how quickly the survey is submitted to the Republican Foundation. The entire study usually takes between four and eight weeks to be completed.
What involvement from the Client is needed to receive the OWIZ certificate?
On-going co-operation between the Investor and the Auditors is essential to the certification process. The primary task of the investor is to complete the survey forwarded by the Republican Foundation, based on which the auditors assess the influence of the foreign investor on Polish economy.
How long is the certificate valid?
The certificate establishes the influence of the foreign investor on Polish economy at the moment when it is issued. It is recommended that the certificate is updated annually.
How to retain the certificate after its validity expires?
The only possibility to extend the validity of the certificate is to undergo the certification study again.
What is the critical path in the auditing process?
The critical path is the study of the investor’s influence in six basic categories: corruption, establishing of monopolies, punishability, money transfers, raw materials’ extraction, environmental damage. If the influence of the foreign investor in any of these areas is negative, no further research will be carried out. The investor can conduct the critical path study on their own.
Based on what data is the audit carried out?
The study is carried out on the basis of 21 variables, which comprehensively cover the scope of the Investor’s enterprise’s functioning. These include financial, human resources, and environmental information
Are there limits as to the minimal size of the Foreign Investor’s company that can apply for the OWIZ certificate?
There are no limits to the size of the enterprise that can be subjected to the AIFI study. The only prerequisite is that the investor has operated in Poland for a period of at least three years.