Ukraine Company Registration Services
Any investor that is seeking to establish a company in the Ukraine would be better advised to enlist the help of a professional services agency to handle the process. In fact, because of the bureaucracy and potentially costly procedures that are involved in the company registration set up process, finding professional help that you can rely on is paramount if the process is going to be success.
Ukraine’s political and economic climate can be rather a challenge, but the Ukraine is remains of investor interest because of the opportunities that lie within the country in a broad range of sectors which are just waiting to be harnessed by investors. In fact, there are already several international companies that have made base in the Ukraine, with more to come in the future.
The Challenges of Running a Company in Ukraine
Challenges that investors can expect to be up against having decided to open a business in the Ukraine include political instability and corruption. Bureaucracy can also prove to be a nightmare to overcome, and that combined with the inefficient tax and legal systems that are in place, without the proper guidance, can prove to be a nightmare for investors unfamiliar with Ukraine’s laws.
Ukraine also unfortunately has an underdeveloped transport infrastructure and the local currency is suffering from devaluation, even though the country has economic growth potential. And unlike other countries, setting up a business in the Ukraine works differently because the country does not allow investors to establish a partnership in the country or to convert a representative office into a company. Which leaves mostly one option for investors, which is to set up a limited liability company, the most widely used method in the Ukraine.
Added to that fact is having Ukraine ranked as the 182nd in the world for the ease of doing business. Establishing a business in Ukraine can definitely prove to be challenge.
Ukraine Company Registration Procedure
The Ukraine company registration process is as follows:
- Get the company registered at the Registration Office – This process can take approximately three working days to complete. The LLC company’s charter is executed by the founders.
- Prepare a company seal – This process takes approximately one day to complete. Although the use of the company seal is not mandated by Ukraine law, the seal is still a widely used practice by businesses. In the Ukraine, the courts and state authorities are usually accepting of the powers of attorney which are issued by legal entities if they are sealed.
- Open a bank account for the company – This process can be completed within a day. In the case of an LLC, the company may use its account for the outflow operations purpose only after the bank has received notification from the tax inspection on the registration of the respective account.
- Register the company for VAT – This process takes approximately two days to complete. The VAT number can be obtained from the State Tax Authority once the company has been registered at the District Tax Office.
Contact us for assistance and Ukraine company registration services guidance. Your next business venture awaits!