Company Registration Ukraine

Company Registration in Ukraine

Updated on Wednesday 10th November 2021

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What are the types of legal entities I can register in Ukraine? 

The main types of legal entities established by the Ukrainian Commercial Code are the limited liability company, the joint stock company, the additional company, general partnerships and limited partnerships.

TOV - Limited Liability Company in Ukraine can be formed by one to ten shareholders with a minimum share capital which consist of minimum 100 minimum salaries at the moment of registration. The minimum share capital can be paid half at the registration and half in maximum one year after the registration. There are three bodies which governs the limited liability companies opened in Ukraine: the general meeting of participants, which is the company’s supreme body, the Board of Directors which may appoint a General Director, which are the executive body.

A Ukrainian joint-stock company may be a PrAT- private joint-stock company or a PuAT-public joint-stock company.

PrAT - private joint-stock company created in Ukraine has its shares distributed only among the founders and cannot be registered on a stock exchange while the PuAT-public joint-stock company has its shares distributed through open subscription and can be listed on a stock exchange. The minimum share capital of such company is the equivalent of 1,250 salaries at the moment of registration. The bodies which govern the joint stock companies are the general assembly, the executive body and the supervision body.
The Ukrainian additional limited liability company is based on a minimum share capital represented by at least 100 minimum salaries and as a particularity is the fact that the personal assets of the shareholders may be used in order to cover the company’s debts.

The general partnerships created in Ukraine are organizations of several entrepreneurs joined together under the same purposes, with equal responsibilities and liabilities for the company’s debts.

The limited liability companies opened in Ukraine are formed by general partners with unlimited liabilities for the company’s debts and silent partners with responsibilities limited by their contribution to the capital.

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What are the steps for incorporation of a company in Ukraine?

The decision of incorporating a Ukrainian company is taken during a general meeting where all the founders are present. During this meeting the Company Charter is elaborated and signed by its members. This Charter has to be notarized along with the minute of the meeting where the incorporation decision was taken.

A temporary bank account must be opened in order to deposit at least a half of the minimum share capital necessary for opening a company in Ukraine. The minimum share capital may be constituted by cash, kind or in foreign currency.

The recording in the Registration Office is then necessary, but entrepreneurs must pay a registration fee in the beginning.

The next step is registration at the State Statistics Committee.

Any company started in Ukraine, which is performing commercial activities must be registered for specific taxes so it’s mandatory to submit the specific documents at the State tax Authority and apply for a VAT number. A company stamp is necessary in every future economic activity so the entity must apply in order to receive one.

After the above steps were taken, the bank where the temporary bank account was open must notify the District Tax Inspectorate regarding the opening of the account. No later than 3 days from the notification, District Tax Inspectorate is registering the bank account and notifies the bank regarding this.  The bank is now able to transform the temporary account into a permanent one and the entity can begin its commercial activities.

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What is the minimum share capital of a TOV and PuAT, PrAT?

A limited liability company registered in Ukraine must provide the equivalent of at least 100 minimum salaries, while the joint stock companies must provide a minimum share capital of at least 1,250 minimum salaries.

What documents are required for the incorporation of a company in Ukraine?

In order to incorporate a company in Ukraine, certain documents must be deposited at various institutions before beginning the commercial activities. For example, the temporary bank account is opened after submitting the following at the bank: an application for opening the account signed by the person authorized by the founders of the legal entity, original or notarized copy of the constituent documents, the founders’ decision to grant a power of attorney to the company’s representative, the signature specimen of the person(s) authorized by the founders to sign the bank account documents.

The following has to be deposited at the Registration Office: two notarized copies of the founding documents, a certificate from the bank of the payment of the registration fee and the deposit of the minimum share capital, notarized minutes of the founding meeting and the standard application form.

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How quickly can I incorporate my company in Ukraine?

The process of company incorporation in Ukraine depends on the complexity and the correctitude of the constitutive documents but usually doesn’t take longer than three weeks.