Opening a company in Ukraine as a foreigner is not a very easy and straight forward process. In Ukraine, a foreigner has to obtain an official work permit before they can be a legal director of a company. In order to start a company in Ukraine, the usual route is to first register the company in the name of a Ukrainian citizen. For instance, a representative of the law firm you are working with can be a a temporary CEO of your company. The real owner(foreigner) then applies for a work permit to work under the new company. After obtaining the work permit, the real owner can now fire the temporary CEO(Ukrainian citizen) and run the company personally.
Who can open a company in Ukraine?
What types of companies can be incorporated in Ukraine?
Foreign investors can incorporate the following types of companies in Ukraine: Limited Liability Company(Subsidiary Company), Joint Stock Company, (either Private or Public), Joint Venture or Represantative Office.
What is the required minimum share capital to incorporate a company in Ukraine?
There is virtually no minimum share capital required to form a company in Ukraine. Thus, the minimum amount is 1 UAH.
Is it required for the company to have an office in Ukraine?
Yes, a company incorporated in Ukraine must have a registered office in the country.
How to register a company in Ukraine?
Opening a company in Ukraine as a foreigner is not a very easy and straight forward process. In Ukraine, a foreigner has to obtain an official work permit before they can be a legal director of a company. In order to start a company in Ukraine, the usual route is to first register the company in the name of a Ukrainian citizen. For instance, a representative of the law firm you are working with can be a a temporary CEO of your company. The real owner(foreigner) then applies for a work permit to work under the new company. After obtaining the work permit, the real owner can now fire the temporary CEO(Ukrainian citizen) and run the company personally.
What do you need to open a bank account in Ukraine?
If you want to open a company in Ukraine, you will need to open a corporate bank account for the new company's transactions. The required documents include:
- documents verifying the powers of the representatives of the company, their passports and tax number
- Copy of the company's statutory documents
- 2 notarially satified signature cards along with copies of passports, tax numbers, and documents verifying the powers of the individuals mentioned on the card holders.
Is it possible to open subsidiaries in Ukraine?
Yes, any foreign company is able to open a subsidiary in Ukraine. It’s the best option for foreign companies who intend to expand their business in Ukraine.
What are the corporate taxes in Ukraine?
Income and capital tax applies to all types of Ukraine companies; however, the tax rates may vary depending on the activity of the respective company.
Is it required to have special permits or licenses for doing business in Ukraine?
Certain types of business activities in Ukraine require special permits, which may differ according to the company’s object of activity.
How fast is it to open a company in Ukraine?
The company incorporation process in Ukraine does not take long, usually takes one business day ( with the exception for joint stock companies where the procedure is more complex). In Ukraine, there is no state fee for the registration of the business.
Why should you invest in Ukraine?
There are several pros and cons for investing in Ukraine. The most apparent is the highly skilled and yet affordable labour force. Not only the workforce is cheaper, investors also benefit from cheap raw materials and other significantly low production costs, such as electricity and water.