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Business in Ukraine (Kiev, Odessa)

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Capital: Kiev
Population: 52 140 000
Currency: Hrivna (UAH)
President:Poroschenko Petr

Registration of companies in Ukraine

Since 2010 Ukraine took course toward serious measures for improving its investment climate. It eliminated many administrative barriers hampering business activities. The country made a number of improvements such as reduction of authorized capital, the number of procedures and amount of time required for opening a new business, and the cost of obtaining building authorization. It eliminated compulsory registration of investment positions. From January 1, 2014 the value added tax rate is reduced to 17%, and the income tax – to 16%. In 2013 the Ukraine Cabinet of Ministers developed the program for activating economic development aimed at modernization of industry and restructuring of economy.

If you set up your mind to launch your business in Ukraine, we can assist you and clarify some questions:

Registration of Company in Ukraine: Start up Manual.

The most popular forms of business presence in Ukraine are the following:

Limited liability company (LLC) in Ukraine.

LLC is the most popular form of business presence in Ukraine. If you would like to establish LLC – it is necessary to form charter capital. Today there are no minimum requirements on minimal size of the charter capital of LLC. The advantage of this legal form is that participants are limited in liability within their contributions. Ukrainian legislation establishes limits for quantity of participants (not more than 100).

Joint Stock Company (JSC) in Ukraine.

There is division on public and private joint stock company in accordance with Ukrainian legislation. Minimum charter capital is 1250 minimal wages (approximately 179 218 US Dollars).

Representative office in Ukraine.

Legal entity may register representative offices of two types in Ukraine: with the right to conduct commercial activity/without such right. Definition “Branch office” is possible to use only for registration of separate division of Ukrainian legal entity on the territory of Ukraine. There is no need to form charter capital, but the term of registration is quite long (60-90 days from time of passing documents to official authorities).

In order to select the incorporation form which will be interesting for you it is possible to order a legal study on this matter to compare pros and cons of business dealing and tax burdens for certain incorporation forms.

(Order a legal study of business forms in Ukraine >>).

You may also be interested in our service on secure legal structure modeling in order to ensure safety of your assets (”Anti-raid Program”>>).

Company Name for LLC in Ukraine.

Having chosen preferable form of business dealing, you will have to sort out several variants of company name. Corporate entity name reservation is a mandatory procedure in Ukraine because the company name must be unique. Corporate entities with foreign members may use foreign company names, provided that such names are transliterated in the national and Ukrainian languages.

Corporate entities and representative/branch offices are also entitled to use such words as Ukraine, Kiev or their abbreviated equivalents in their company names. Ukrainian legislation authorizes the free use of such words in the names of the new companies and in case of existing company name change.

Preliminary Information and Main Documents Required for Registration in Ukraine.

LLC in Ukraine. Company name (several possible variants); registered address (may be provided upon request); participant data (full name, citizenship, passport/incorporation documents of the company); amount of charter capital; types of business activities; choice of a bank in Ukraine and types of accounts opened with it; other documents and information.*
Representative office in Ukraine. Incorporation documents, choice of a bank in Ukraine, types of accounts opened in it; other documents and information.*
* All the documents should be provided in advance in order to accomplish their translation into the Ukrainian language. All the submitted documents must be notarized by the Ukrainian Embassy in the Member’s (Shareholder’s) country of residence or certified by Apostille issued by corresponding governmental authorities following the notary authentication procedure in accordance with the Hague Convention (1961). For members residing in CIS countries (Russia, Belarus, Uzbekistan, Tajikistan, Armenia, Ukraine, Kirgizia, Moldova, Turkmenistan, Azerbaijan, Georgia) verification with an Apostille and legalization of documents is not required in accordance with the Minsk Convention on legal assistance and legal relations in the framework of civil, family and criminal matters (dated January 23, 1993).
You will also have to made a decision on choice of taxation system (general or simplified, with or without VAT).

You can order general or individual legal opinion on Ukrainian taxation system >>

Legal Address in Ukraine (Kiev).

In accordance with legal requirements, a corporate entity shall be deemed located in the place where its executive body operates (CEO, Directors) in Ukraine. Location data shall be recorded in the unified state register of corporate entities and register of corporate entities and representative/branch offices in case of registration/re-registration.
If registration is organized via our company, we can provide you with legal address.

There are two conventional types of addresses:

  • Virtual office (an office with a secretary who can confirm that the company’s executive body is available at this address, receive mail or phone calls addressed to the company, provide for archive storage);
  • Standard legal address (an address used exclusively for registration purposes).
    Virtual Office service is certainly more expensive than standard legal address; however, you can always choose what options of virtual office you will pay for. We recommend our clients to order Virtual Office service because tax authorities have the right to perform tax inspections in order to verify the actual location of a corporate entity.

Annually (each 13 month) every legal entity in Ukraine must confirm that it exists with filing special registration form. Tax office sends notification in advance and if the letter returns – official authorities place such company in the “list of unreliable” and undertake active actions to find such company. If the company fails to provide official authorities with the information about its address — there can be different consequences (for example, cancellation of VAT certificate).

CEO (Head Executive Body) in Ukraine.

The position of CEO in your company can be given both to a Ukrainian citizen or a foreign resident.

However, one thing should be taken into account: the Ukrainian law includes provisions aimed at protection of domestic labor market and observing this law the Ukrainian government sets annual quotas on the number of foreigners working on its territory (this requirement is not applicable only to the managers of representative/branch offices), i.e., a company must obtain a corresponding work permit for a foreigner.

On practice this means that at the stage of primary registration it is impossible to appoint foreigner as a General Director. Only Ukrainian resident will have to be appointed to this position. For this and many other reasons (i.e., presence of CEO in Ukraine is often required for signing of documents or interaction with tax and customs authorities) our company offers the Nominal CEO service.

Such directors can handle various administrative orders. The main requirement in case of this service use – fully legitimate business activities of the Client’s company.
Get more information about Nominal CEO service >>

Work Permits in Ukraine (Kiev).

If you have decided to get work permit in Ukraine, we can help you handle this matter. This procedure can be conventionally divided into two stages (it can be realized only in case if the quota for foreign workforce attraction is still not exceeded). Approximately it takes 2 months to get work permit for a foreigner.
Order obtaining of work permit >>

Presence of Founder at time of Company Registration in Ukraine.

We can organize registration of your company in Ukraine without your presence (via power of attorney).

Overall Registration Period in Ukraine.

LLC registration will takes about 1 -2 weeks. You should also take into account that additional time may be required for execution and translation of necessary documentation.
Registration of representative offices – 60-90 days.
If you wish to reduce the period of registration, in certain cases we can offer you such services for an additional fee.

Opening of Bank Accounts in Ukraine.

When registering your company you can open accounts with local Ukrainian banks in Hrivna, Russian rubles, Euros, US dollars. Our company can also assist you in setting up Ukrainian company accounts abroad.

Accounting Services in Ukraine.

Upon completion of registration and receipt of original incorporation documents, primary tax returns and statistical reports should be submitted.
Attention (!): Even if your company performs no activities yet, failure to submit one quarter report will entail a penalty in the amount of approximately USD 200.
In order to avoid such penalties and to be sure that all the work is under control, we propose you to benefit from our accounting services.
When you hire an ordinary accountant you can never be sure what exactly he does in the accounting software, how properly he compiles primary accounting documents and when he may choose to leave your company.

By contrast, we have a team of professionals who control the methods and accuracy of accounting operations, who can transform national accounting schemes in accordance with the International Financial Reporting Standards (IFRS) or, for example, maintain your accounting data in Ukrainian representative/branch offices in accordance with the Russian Accounting Standards (RAS).

Our team of accountants will ensure provision of continuous long-term accounting services in the required scope. Our accounting software is kept at remote servers, which is important for preserving the confidentiality of your financial data. We can also offer you consulting on optimization of taxation and financial aspects of your company operation.

Order Outsourcing Accounting services and/or Accounting consulting>>

What other Services You May Need to Start Your Business in Ukraine?

We can offer you the following services: installation of Bank-Client software system, consulting on antimonopoly, currency and financial issues and many other matters which may arise in the course of your business activities in Ukraine.

Order additional services and consulting on Ukrainian legislation >>

LLC Re-registration Services in Ukraine.

Following your order we can change the CEO, legal address, increase/decrease the charter capital, change the name or participants of the company, prepare documentation required for LLC purchase or sale. Some of such actions require a simple notification, while others will lead to introduction of changes to the records maintained by the Ukrainian authorities. Re-registration terms will also depend on the substance of changes you wish to make.
Order LLC re-registration or purchase & sale service >>

Conducting Business in Ukraine via Offshore Companies.

Every country has a list of other countries which are under strict governmental scrutiny in terms of their business operations. Our specialists can consult you on the possibilities and schemes available for efficient business dealing in Ukraine and abroad.

Order consulting on offshore companies establishment of and operation schemes>>

Additional business services which can be useful during your visit to Ukraine.

Selection and examination of business partners >>
VIP lounge in the airport >>
You can find more information on business dealing in Ukraine at the pages of the magazine Business in CIS and Baltic States available at Articles and interviews with the leading governmental figures and business people will help you better understand the business environment in these countries.
Please contact us if you are interested in any of our services:
Moscow office: +7 (499) 921 02 22, +7 (499) 23 800 23

If you have any proposals or questions regarding our services or cooperation opportunities, please e-mail them at This email address is being protected from spambots. You need JavaScript enabled to view it., and give us your “Likes” on our Facebook page if you find our articles and services useful.