ARTICLE
4 November 2015

Faster Registration Of New Businesses In Ukraine

TG
TMF Group BV

Contributor

TMF Group experts work from 120 offices in 80+ jurisdictions, making sure that complex administrative tasks are done right and on time. From legal set-up and oversight to regulatory filings, accounting, tax and payroll, we look after our clients’ administrative burdens so they can focus on their businesses.
Looking to register a business in Ukraine? Recent legislation changes have drastically reduced the set up time.
Ukraine Corporate/Commercial Law

Looking to register a business in Ukraine? Recent legislation changes have drastically reduced the set up time.

The new business registration process in Ukraine has sped up dramatically, with the exchange of information between the state registrar and the tax authority now taking place in two hours, and the complete LLC registration process taking 24 hours, instead of the former three to five working days.

The much shorter time frame was legislated in a joint order by Ukraine's Ministry of Justice and the Ministry of Finance, and came into force on 17 October 2015.

It's hoped the 24 hour turnaround will increase transparency of procedures, and make the country's business environment more attractive for legal entities and private entrepreneurs.

The swifter exchange data between state authorities (including fiscal authorities) applies to legal entity registration and the introduction of any statutory changes to the legal entity.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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