Establishing a Company

STATE REGISTRATION OF THE LEGAL ENTITY

Step 1. Collect the information you need:

  • Concerning Company:
    • Company name;
    • Amount of the authorized capital;
    • The distribution of shares in monetary (percentage) terms, if there is more than one founder;
    • Company location;
    • General manager / director of the legal entity data (name, passport number, place of registration, post code, identification code);
    • Choose types of economic activities (according to KVED (Ukrainian Industry Classification System))
  • Concerning founders:
    • First name, middle name, passport number, place of registration, code, identification code, the size of the contribution to the authorized capital.
    • If the founder of the new company is a legal entity, the founder of the legal entity should issue additional protocol regarding establishment of the Company;
    • If the founder of the new company is a foreign legal entity, then by the foreign legal entity founder additionally need notarized statements translation of register of the country of residency and a power of attorney to represent the Company to create a new representative for;
    • If the founder is an individual, a foreigner, then before non-resident  become a founder of the Company he must obtain a identification code of the taxpayer in local tax authority office.

Step 2. Constituent documents preparation:

  • Charter;
  • Protocol concerning establishment of the Company;
  • Registration Statement.

Step 3. Notary:

  • Notarization of signatures of the founders of the Company in the founding documents;
  • Submission of the Company’s registration documents to registrar.

Step 4. Company registration.

Step 5. Making a signet.

Step 5. Opening a bank account for the Company.

Step 6. Starting business activity.

The package of documents after registration:

  • Charter;
  • Minutes of the constituent assembly of the founders;
  • The order about Director appointment;
  • Signet;
  • Extract from the register of payers of single tax / VAT;
  • Notice of acceptance from Local tax office about hiring Company’s Director.

CREATION OF A JOINT VENTURE IN UKRAINE

Joint ventures are enterprises, which based on joint capital of Ukraine economic entities or foreign economic entities, joint management and joint distribution of results and risks.

The procedure of joint ventures setup.

In accordance with the legislation of Ukraine, a joint venture can be created:

  • through the acquisition of the operating enterprise participation share (capital) by the foreign investor;
  • through the creation of new enterprise together with the resident of Ukraine and the foreign investor.

The process of joint ventures setup involves the following stages:

Step 1. Development of positions on the joint venture creation by partners;

Step 2. Searching and selection of foreign partners;

Step 3. Preparation and signing of the statement of intent by partners;

Step 4. Development of the feasibility study and its approval by partners;

Step 5. Preparation of constituent documents on the basis of the feasibility study;

Step 6. State registration of joint venture.

LEGAL FORMS OF COMPANIES

  • A joint-stock company is a company that has an authorized (composite) capital, divided into a certain number of shares of equal par value, and is liable for obligations only by the property of the company. Shareholders are responsible for the obligations of the company only within the limits of their shares.
  • A limited liability company is a company which authorized capital is divided into shares, the size of which is determined by the constituent documents. The maximum number of participants in a limited liability company can reach 100 people. Members of the company are liable within their contributions.
  • A double liability company is a company which authorized capital is divided into shares, the size of which is determined by the constituent documents. Members of such company shall be liable for their debts with their contributions to the authorized capital, and if these amounts are not sufficient, they shall be additionally liable with the property of the same multiple of each participant contribution amount.
  • An unlimited company is a company in which all participants are engaged in joint business activities, and are jointly and severally liable for the company obligations with all its assets.
  • A limited partnership is a business entity in which one or more persons are engaged in business activities on behalf of the company and are responsible for the company obligations with all their property, and other members of the company only with their contributions.