The most common type of corporate structure is an LLC, or “TOV” in Ukrainian. It provides limited liability, which means that owners’ responsibility is constrained to the amount of their investment in the business, among other advantages. The sections below provide comprehensive information on the procedure for registering an LLC step-by-step, the minimal legal requirements, the documents that must be filed for state registration of an LLC, and a list of the documents that you, as the company founder, must bring to Ukraine for LLC registration.
Enrolment processes
Businesses must go through a registration process after deciding which company type best serves investors’ needs. These processes range in terms of the paperwork needed, the accountable party, and the deadline depending on the type of firm.
Online registration for an LLC is possible through a dedicated Ministry of Justice web platform. Online and offline registration are both free and can take up to 24 hours.
The Ministry of Justice should receive additional paperwork from pa JSC’s founders. Prior to that, a private offering of shares must be registered with the National Securities and Stock Market Commission, which also approves the offering’s outcomes and distributes certificates of ownership to participants. The entire JSC registration procedure typically takes three months. A representative office must register with the Ministry for Development of Economy, Trade, and Agriculture, unlike LLCs or JSCs. The sum of state duty is USD 2,500. It can take up to 60 working days to register. A completed application form, a certificate attesting to the parent company’s incorporation, and a bank reference pertaining to the parent company’s finances make up the registration application.
Documents needed in Ukraine to form an LLC
Like with other things, registering a company in Ukraine involves submitting a plethora of paperwork. These are what they are:
- Power of attorney notarized.
- Submission of a new legal entity registration application.
- Two original hard copies of the founders’ resolve to incorporate a new legal company.
- The signed charter is supposed to be duplicated twice on paper.
- An application for state registration as a VAT-payer, or an application for the simplified tax system.
You must provide the following details on your LLC application
- Information about the location of the company’s registered office.
- Information on the primary business activities.
- Information about the executive body, notarized copies of their passport, identity number, and registration address.
- The amount of capital authorized (can be nominal such as UAH1000 and no minimum requirement)
- Information about the founder’s ultimate beneficial owners (UBO).
The UBO must disclose the following information in accordance with Ukrainian law:
- Entire name.
- born on [date].
- Personal tax ID number.
- Passport details.
- A nation’s citizenship.
- Place of residence’s address.
LLC registrant’s time period
Once the necessary paperwork is in hand, registering a company in Ukraine can be done quickly. Normally, this takes one to two business days. If the business is approved for registration as a VAT payer, its information will show up in the relevant register of VAT payers three working days after the application date.
A local must be chosen as the director of a newly formed company due to the peculiarities of Ukrainian law, as a work permit is necessary for a foreign citizen before the company can hire such a foreigner. Once the local director has been appointed, they may submit an application for an ex-work pat’s permit. As a result, these documents may be created concurrently with the company’s establishment. The application MUST be submitted no later than the 10th of the month in order to become a VAT-payer for the first day of the following calendar month. A foreign national will be appointed as a director of a Ukrainian company
Once a firm is registered in Ukraine, it is permitted to hire foreigners after acquiring an employment permit, sometimes known as a “work permit”.
