The registration procedure of a legal entity by a foreign founder in Ukraine

02.02.2018

Nowadays, despite the economic situation, Ukraine is quite a promising country for the investment. Ukraine has a great potential in agricultural, IT and services sector. The part of foreign companies in Ukraine increases every day.

Any business begins with registration. According to the Constitution of Ukraine, foreigners and stateless persons, who have been legally settled in country, have the same rights and freedoms, and the same obligations, as Ukrainian citizens.

The registration procedure of a legal entity by a foreign founder in UkraineBut still the registration process of a legal entity by a foreign founder has its own peculiarities. The above-mentioned process is regulated by: Law of Ukraine “On the State Registration of a Legal Entities, Individual Entrepreneurs and the Public Organizations” (Про державну реєстрацію юридичних осіб, фізичних осіб — підприємців та громадських формувань), Law of Ukraine “On the Legal Status of Foreigners and Stateless persons” (Про правовий статус іноземців та осіб без громадянства) Law of Ukraine “On Employment of the Population” (Про зайнятість населення) etc.

In this article, we will review the registration process of Limited Liability Company (LLC), because it is the most popular and convenient form of legal entity for business in Ukraine.    

It is important to remember, that for doing business in Ukraine a non-resident must receive an individual card of taxpayer in the Fiscal service.

For those non-resident founders who wants to hold the position of a director in their own company (LLC) – they should have the work permit in Ukraine

For the registration of LLC, a non-resident founder must provide the following documents to state registrar:   

  • Application for registration of legal entity;
  • Constitutive document (Statute of LLC);
  • Minutes of meeting (in which it was decided to create the LLC);
  • Application for transition to a single tax payment system (if needed).

If the founder of legal entity in Ukraine is the legal entity in another country, in addition to the above-mentioned documents, you need to add:

  • Extract from the register of legal entity (from the country where the founder is registered);
  • A document that confirms the authority of the founder (usually it is a notarised Power of Attorney or Statute).

It is important to know, that Ukrainian legislator provides an opportunity to obtain a permanent residence permit in Ukraine for foreign citizens who have formed the statutory fund of the newly opened company in Ukraine more than 100.000 USD. 

Legal entities with foreign investments and with foreign founders in Ukraine need to pay taxes, which are identical to Ukrainian legal entities. In 2018, corporate tax rate in the general taxation system is 18% of income.

The registration procedure of a legal entity by a foreign founder in Ukraine

    

 

    Fedotov Maksim

   Assistant lawyer in Advocates Union «Consulting firm «Dominanta»

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