Loans for foreigners without Polish citizenship – where to take?

In recent years, Poland has become increasingly attractive to foreigners looking for a new job and a new life. Ukrainians are the most numerous group, followed by Belarusians, Indians, Georgians and Vietnamese. Do they have a chance for a quick online loan in Poland in case of unforeseen problems? What requirements must they meet?

Foreigners are increasingly settling in Poland

Foreigners are increasingly settling in Poland

There are more and more foreigners in Poland – you can see it almost everywhere. Visitors from across the eastern border are particularly interested in staying in the country on the Vistula. According to the latest report of the Office for Foreigners in 2018, the number of people wanting to settle and legalize their stay in Poland increased by 47,000. Of course, many of them come illegally and on the basis of various documents or permits. That is why currently around 372,000 of them have valid documents that entitle them to stay legally. In 2018, the largest increase in residence permits concerned citizens:

  • Ukraine – 179 thousand people
  • Belarus – 20 thousand people
  • India – 8.8 thousand people
  • Georgia – 2.9 thousand people
  • Vietnam – 12.4 thousand people

Most permits came for temporary stay (up to a maximum of 3 years) – by 35.8 thousand, and permanent – by 9 thousand. However, the most common reason, and at the same time, the goal of living in Poland for most applicants is better earnings and a new job (73%). In addition, many people decide to stay in the country for family reasons (12%) or in connection with entering or continuing studies (10%). The above report did not include persons temporarily staying in Poland, including based on visas 1.

A loan in Poland for foreigners – for temporary problems. Is possible?

A loan in Poland for foreigners - for temporary problems. Is possible?

Along with the growing number of foreigners in Poland, the offer of financial services is also expanding. According to the PRNews report, which was prepared at the end of the fourth quarter of 2018, Polish banks served almost 700,000 foreigners, of which over 320,000 were Ukrainian citizens 3.

Many banking institutions are opening up to new arrivals. Banks introduce language versions on the hotline, have special sections with information in Ukrainian, or offer promotional terms for money transfers to our eastern neighbors. They even support mobile applications in Ukrainian and Russian. Interestingly, they also offer special offers to set up personal accounts and apply for a mortgage. From the point of view of foreigners, equally good news is the development of the domestic non-banking market.

Did you know that more and more lenders grant quick loans even to people without Polish citizenship? There are, however, some rules that clearly describe how a foreign payee takes a quick payday loan.

Loan payday loan for a foreigner – yes, but under certain conditions!

Loan payday loan for a foreigner - yes, but under certain conditions!

As a rule, loan companies verify client applications by following established rules. One of them is the applicant ‘s possession of Polish citizenship and permanent residence in Poland. On their part, this is mere pragmatism and the desire to avoid the risk of the borrower not returning money. Consumers who do not have a permanent residence in Poland – are not certain customers, because they can leave the country at any time. In addition, the lack of a Polish identity card, which is one of the most important factors verifying credibility, practically excludes a foreigner from taking any loan. In most cases you should also be between 18 and 65 years old (although each loan company has its own age limits in this respect).

However, Polish law does not discriminate against foreigners who care about financial support. There is no precise record saying that loans cannot be granted to persons without Polish citizenship. That is why lenders have a lot of freedom and they set their own criteria – regarding age, creditworthiness, debt or origin. There are only a few necessary requirements that every applicant, regardless of origin, must meet:

  • majority,
  • full capacity for civil law transactions,
  • living in Poland,
  • mobile phone, Polish bank account. Sometimes it is possible to loan for a GIRO check, for a phone call or even at the customer’s home,
  • creditworthiness. Although this is not always a necessary condition, because some loan companies do not examine the BIK, BIG or KRD databases.

When will a foreigner get a loan?

When will a foreigner get a loan?

Until recently, a problem with getting online payday loans for foreigners could be not having a Polish bank account. However, in the era of today’s banking offers, this problem has almost been eliminated. In fact, there are several reliable loan companies on the Polish market that grant loans to foreigners. For proper customer verification, you need:

  • current passport
  • legal residence and registration in Poland
  • legal employment and documented income
  • long-term resident status. The key parameter that gives the applicant the right to permanent residence in Poland and legal work. His tax residence is also located here,
  • temporary residence card when a foreigner does not yet have a permanent residence card,
  • PESEL number assigned. It is automatically assigned to every person who has permission to stay permanently in Poland. Others may submit an application for it to be sent to the commune office competent for the place of residence or, optionally, to the commune office competent for the employer’s seat. Interestingly, it is also given to other groups, e.g. refugees. However, the latter cannot apply for a loan,
  • creditworthiness – e.g. popular loans for Ukrainians are granted on the basis of cooperation between the Polish BIK and its Ukrainian counterparts: Ukrainian Bureau of Credit Histories (UBCH) and International Buerau of Credit Histories (IBCH). Thanks to this, financial institutions have access to the customer’s credit history even when he was living in his home country.

Who can become a long-term resident?

Who can become a long-term resident?

We already know that it is common practice for lenders to grant non-bank loans only to Polish citizens. Fortunately, they are increasingly abandoning this requirement and offer, for example, loans to Ukrainians, which are granted on the basis of long-term resident status. How can I get it?

A long-term resident is a person who is treated equally with a Polish citizen – in terms of education, employment, social assistance and social privileges. As a consequence, such a person cannot work in another country, even one who is in the EU. Therefore, to receive a resident card, in accordance with art. 211 of the Act on foreigners 4 :

  • stay legally in Poland for at least 5 years,
  • have regular income for at least 3 years,
  • have the right to housing in any form,
  • have a proven knowledge of Polish. For example, a school-leaving certificate in Poland or a university with Polish as a foreign language. It can also be an official confirmation of Polish language skills at least at level B1.

Which loan companies offer loans to foreigners?

Which loan companies offer loans to foreigners?

Which lenders offer online loans to foreigners?

  • Agree Bank – a loan with a surety. If the borrower does not have to be a Polish citizen, it is absolutely required from the guarantor,
  • Lite Lender Bank – the first loan from $ 100 to 5,000 $ with a maximum repayment period of 3 months,
  • MyCredit Lender – loans from 600 $ to 2300 $, loans – from 2 to 6 weeks,
  • Prida Cash Lender – from 100 to 5,000 $, loan period – from 10 to 30 days,
  • Instant Care Bank – has branches in Germany, Sweden, France and Denmark and there also offers the possibility of taking installment loans.

As a loan it is only for reliable customers!

A foreigner living in Poland for a long time has the opportunity to apply for both a mortgage and an online loan. In this respect, he is treated equally with a Polish citizen. However, this is not the case for people who have just come to the country or live in Poland and who profit from work abroad.

It is also possible for a foreigner to take out a loan with another person, e.g. a spouse with Polish citizenship. It is worth remembering, however, that having the status of a foreigner does not release you from the need to meet other criteria, e.g. having a Polish bank account, permanent employment or receiving regular income. Only if all specified conditions are met, the loan company is willing to provide funding.