Company registration in Ukraine
Rich culture and strong economic growth before the war were just some of the many perks of why setting up a company in Ukraine was a good move. Foreign investors who were looking to diversify out of their own jurisdiction often turn to this Eastern European country.
Ukraine offers a strategic location, owing to the fact that it shares borders with several EU countries, and can help you expand your business’s market elsewhere.
The country was an emerging investment hub and we believe it will be again, even more, within all the industries. Ukraine’s most successful businesses were exporting items such as agricultural goods and metals. However, a wide range of sectors will soon offer viable investment and business opportunities. Helping Ukraine will bring the economy grow making your investment and Ukraine’s growth a win-win for everyone. Predictions for the most important sectors include food and beverages, pharmaceutical products, and manufactured basic metals. In near future, the opportunity of doing business in Ukraine will be extended to all the sectors. All the businesses will have the opportunity to shine in Ukraine soon. If you’ve never went internationally with your business, maybe this is the right time and the right place. You can help and get your business on the right track with help of Compyco’s partners in Ukraine who we have strong contracts with and you are staying safe while thinking of achieving your business goals.
We have witnessed a lot of fraudulent offers these days and it’s surely not a smart idea to go into business directly with local service providers in Ukraine these days. CompyCo is based in Ireland and can guarantee company registration in Ukraine will be accomplished and we’ll stay in direct contact with you while you are doing business in Ukraine. We have long term connections in Ukraine that guarantee you trust and safety.
Minimal taxation rates, a simplified financial and taxation system, and a large, highly-technical workforce with a minimum salary of 6000 UAH (approx. 210 USD or 170 EUR) per month, awaits you in Ukraine. If you’ve been considering setting up a company in Ukraine which is the second largest European country, CompyCo can assist you.
We’ll walk you through every step of the journey, offering guidance and support to help you meet your business goals. As a liaison between you and our various Ukrainian contacts, we’ll be your sole point of contact to make the process seamless and easy.
Forms Of Companies In Ukraine
- TOB – “Товариство з Обмеженою Відповідальністю”—Limited Liability Company
- “Акціонерне товариство”—Joint Stock Company
- “представництво”—Branch/Representative Office
Investing in Ukraine
We are all looking at Ukraine these days and feel like we want to help but it’s never enough. In the near future there will be a need for many professionals with proven experience within their field. There will be a lot of space for progressive ROI while being helpful.
Investing in Ukraine real estate sector will soon become a big ROI for experienced entrepreneurs in this sector. CompyCo will support only those who have genuine intentions to help because we believe this is the only way for achieving benefits for both sides. CompyCo has relationships with local professionals that can help you to be productive while helping the local market to get back to the level where it was before the war in Ukraine.
What is the difference between limited liability company and representative office?
Most foreign investors opt for setting up a limited liability company in Ukraine. However, setting up a representative office is also a popular choice.
While setting up a limited liability company in Ukraine can be done within 5 working days, branch/representative offices may take up to 6 weeks to be completely set up. Faster and easiest way is purchase of the shelf company in Ukraine.
The minimum share capital required by limited liability companies is €1, while representative offices don’t require a share capital. The share capital doesn’t have to be paid up. It is only stated in the corporate documentation.
Company registration costs Ukraine will be determined by the: form of the company you opt for, number of shareholders and directors, choice of banking, residency of shareholders and directors, and business activity. If you wish to find out the exact process, requirements, and fees for your specific case. Complete this simple online form and we’ll send you an offer within 24 h.
In case a director is a foreign, another requirement when setting up a company in Ukraine is to obtain a business license for that person, unless you opt for a local Nominee director. Once the work permit has been obtained and a bank account opened for the company, the company must pay contributions on directors salary. Contact us for further information and take advantage of the easiest way to do this.
Fundamentals Of A Limited Liability Company
|Corporate tax in Ukraine||VAT in Ukraine|
Fundamentals of limited liability companies in Ukraine
|Limited liability company|
|Minimum Share capital||1 EUR|
|Registered office required||Yes|
|Physical office required||No|
|Min. number of Shareholders||1|
|Min. number of Directors||1|
|Local Director required||No|
|Bank signatory must travel||Yes|
|Timescale for company formation||5 working days|
|Timescale for bank account opening||2 weeks|
|Timescale for obtaining VAT number||1-2 weeks|
|Statutory audit requirements||No|
|Shelf companies available||No|
The process for setting up a company in Ukraine?
Doing business in Ukraine shoud start on a trusted ground. If you are starting a business in Ukraine with online research without local connections, this strategy can be dangerous for your business. You should consider setting up a connection in Europe which will give you protection in this business setup, starting with company registration in Ukraine. CompyCo will make the process easier for you by handling the paperwork and registration processes on your behalf, but also protecting you from the regulative environment in the EU.
The process for setting up a company in Ukraine involves the following steps:
- We work with you to determine the best company type for you. Our experienced team conducts all due diligence and determines a project plan to move forward with.
- The entire registration process can take between 2 to 21 days, depending on whether your company needs to be registered for VAT.
- You’ll have to decide on a company name and its Ukrainian translation. After the name has been registered, we can move forward with the bank account and company registration.
- Once the Articles of Association is drafted, your business registration certificate will be the next step. The incorporation process will be completed with the State Registrar.
- If the director is foreigner person, we will obtain work permit on behalf of the company and nominee that person as director.
- Ukrainian law requires a company seal for all businesses. We can help you prepare one.
- Once the company registration in Ukraine has been finalized, we’ll apply for VAT and corporate tax registration.
- We can register your company remotely, but if you chose to have bank account in Ukraine physical bank, travel will be mandatory.
If you’re looking to break into the Eastern European market, Ukraine can act as your gateway to success. The country’s favorable business climate allows several international businesses to set up and start their operations fairly easily.
CompyCo is dedicated to providing cost-effective, tailor-made solutions that are customized to your needs. We’ve helped businesses set up in Ukraine over the years and are familiar with the processes involved.
Leveraging our network of experts, we’ll work with some of the most experienced individuals in the banking, incorporation, and taxation sectors. We’ll be your sole point of contact throughout the process; this means you won’t have to worry about handling the logistics of the process in a different country.
Our goal is to offer you the maximum benefits at the lowest cost. You just need to focus on your business’s operations, we’ll handle the r
Bank Account Opening
When you set up a business anywhere in the world, a corporate bank account is necessary to streamline your financial transactions and operations. Ukraine’s financial sector primarily consists of locally-owned financial institutions where you can open a corporate bank account.
Along with a variety of financial services that you’ll need along the way, these bank accounts provide online banking in English and are generally less strict in their policies. This means it’s relatively easy to open a bank account in Ukraine.
However, depending on your business’s activity and your original country of residence, you may have to choose the most ideal financial institution for your needs.
Some of the common requirements of each bank are:
- A Ukrainian tax identification number
- Residential address as proof
- Your passport and its translation
In some circumstances, you might be able to open your account remotely without having to travel to Ukraine.
Need more information about opening a bank account? Head over here.
Accounting & Taxation
Here are a few accounting and taxation obligations to take into consideration:
- Ukraine’s fiscal year is the same as its calendar year
- Taxable profits are investments, trading profits, and selling assets for more than their original cost
- All businesses need to keep accounting books
- In Ukraine, the current VAT rate is 20%on most goods and services. Exceptions apply
- The corporate income tax is levied at 18%
How can you employ staff in Ukraine?
A well-trained, value-adding workforce is essential for a business in any sector. However, finding the right employees in a foreign country can be difficult, especially if you don’t speak the language there.
CompyCo can assist you in meeting your employment needs. We work with experts who specialize in the fields of human resources and employee recruitment in Ukraine. This network of experts allows us to help you find the best employees who’ll add value to your company.
Working with our talented team, you’ll be able to enjoy full-service solutions that comply with local regulations and meet your company’s changing needs. Our custom solutions include recruiting new talent, drafting employment agreements, ensuring business compliance with Ukraine’s law, and ongoing payroll services.
Ukraine offers a vast, highly-skilled, and low-cost workforce that offers technical expertise in various sectors. Utilizing our HR solutions ensures you work with some of Ukraine’s best.
If you only need to employ a person in Ukraine to work from home, we can even help you avoid local company registration as an employer.
Have any questions? Take a look at our HR services page for more information about our International HR services!