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 would be 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.
Ukraine was once an emerging investment hub — and we believe it will be again, even stronger, across a wide range of industries. Traditionally, Ukraine’s most successful businesses were in agriculture and metals, but new opportunities are opening up in sectors such as food and beverages, pharmaceuticals, and basic metals manufacturing. In the near future, we expect business opportunities to expand across all industries, giving every company the chance to thrive.
If you’ve never taken your business international, Ukraine may be the right place and the right time. By investing here, you not only grow your own business but also contribute to rebuilding and strengthening Ukraine’s economy — a true win-win.
At CompyCo, we work with trusted partners in Ukraine to ensure your investment is safe, compliant, and effective. Many fraudulent offers are circulating these days, so working directly with unverified local service providers can be risky. As an Ireland-based company with long-term, reliable connections in Ukraine, CompyCo guarantees that your company registration will be handled securely while we stay in direct contact with you throughout the process.
Ukraine offers strong advantages for foreign investors:
Minimal taxation rates and a simplified financial system
Large, highly skilled workforce with competitive salaries (average ~8,000 UAH / €182 per month)
Second-largest European country, offering vast growth potential
CompyCo will guide you through every step of the journey — from incorporation to ongoing support — acting as your single point of contact and liaison with our Ukrainian network. With us, you can safely expand into Ukraine while keeping your focus on achieving your business goals.
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 2-3 weeks, 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.
Unless there is special requirement for certain licenses or authorisations, there is no minimum share capital required by limited liability companies. The founders can decide on the amount and must clearly ste it in the statute, while representative offices don’t require a share capital. The share capital can be formed in cash or non-monetary assets and as for the LLC, it must be paid within 6 months of company registration.
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 work permit for that person before bank account opening, unless you opt for a local Nominee director.
The Director shall travel personally to Ukraine to be identified by the bank. He doesn’t have to travel to Kyiv and can visit Uzhhorod (it’s very safe there; this city hasn’t been attacked at all) or Lviv instead. To be able to submit tax declarations and other statements, it’s necessary for director to come personally to make a digital key.
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 |
| 18% | 20% |
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 |
| Other requirements | 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 should begin on a trusted foundation. Starting a company based solely on online research without reliable local connections can be risky and may jeopardize your investment. Establishing a secure link through a reputable European partner offers essential protection for your business setup in Ukraine.
CompyCo makes the entire process easier and safer. We handle the paperwork, company registration, and compliance requirements on your behalf — while also safeguarding your interests through our trusted network. With CompyCo, you gain peace of mind and a reliable partner to guide you every step of the way.
The process for setting up a company in Ukraine involves the following steps:
- We work with you to determine if there is any special authorisation needed for your business. Our experienced team conducts due diligence and determines the easiest process for you.
- The entire registration process can take between 14 to 21 days.
- You’ll 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.
- Final step for the director is to visit Ukraine for 2 days to open a bank account in high-street physical bank and obtain digital key.
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 has encouraged many international businesses to establish operations there with relative ease.
CompyCo has the experience and necessary skills to coordinate company setups in Ukraine. Through our wide network of licensed professionals in banking, incorporation, and taxation, we can bring all the solutions together in one place, tailored to your requirements.
With CompyCo as your sole point of contact, you won’t need to manage logistics in a different country. Our role is to guide and protect you throughout the process so you can focus fully on running your business.
Bank Account Opening
When you are setting up a business anywhere in the world, opening a corporate bank account can become a nightmare. Since this is one of our specialities, we’ll make things easier for you and advise you about banking along the way.
Ukraine’s financial sector primarily consists of locally-owned financial institutions where you can open a corporate bank account. These bank accounts provide online banking in English
Ukraine relies mostly on state-owned banks, but there are a few foreign Banks to choose from. The biggest banks in Ukraine are:
- PrivatBank
- Largest bank in Ukraine.
- State-owned since 2016.
- Strong retail banking and online services (Privat24 app).
- Oschadbank
- State-owned.
- Focuses on corporate and government projects.
- Large branch network across Ukraine.
- Ukreximbank
- State-owned.
- Specializes in export-import financing and large-scale business projects.
- Raiffeisen Bank Ukraine
- Foreign-owned (Austrian Raiffeisen Group).
- Popular for corporate banking and SME services.
- FUIB (First Ukrainian International Bank)
- Privately owned.
- Strong in retail and business banking.
- Sense Bank (formerly Alfa-Bank Ukraine)
- Previously Russian-owned, now under Ukrainian state management.
- Offers digital banking and business services.
- OTP Bank Ukraine
- Hungarian-owned.
- Strong focus on corporate banking and lending.
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%. However reduced tax rates apply:
0% – Applies to newly registered small businesses that meet specific criteria (e.g., startups for the first 3 years with income below a certain threshold).
9% – For companies that operate under the “withdrawn capital tax” model (mainly used for investment projects).
How can you employ staff in Ukraine?
A well-trained, value-adding workforce is essential for any business. However, finding the right employees in a foreign country can be difficult, especially if you don’t speak the language.
CompyCo has the experience and skills to coordinate HR and recruitment support in Ukraine. Through our network of licensed professionals specializing in human resources and employment law, we bring all solutions together in one place to meet your business needs.
With the assistance of our professional partners, you can benefit from tailored support in recruiting new talent, drafting employment agreements, ensuring compliance with Ukrainian regulations, and ongoing payroll services.
Ukraine offers a vast, highly skilled, and cost-effective workforce with expertise across multiple sectors. By leveraging our network, you can make the most of these opportunities. For businesses that only require an individual employee in Ukraine (such as for remote work), our partners can also provide solutions that avoid the need for full company registration.
Have any questions? Take a look at our HR services page for more information about our International HR services!
Next: Find out how can CompyCo help you set up a company in Iceland, Switzerland, UK, Luxembourg and Liechtenstein