Company Formation in Ukraine – SK Patodia

ADVANTAGES OF COMPANY FORMATION IN UKRAINE

Ukraine is a sovereign state in Eastern Europe. It is bordered by countries like Russia, Hungary, Romania, Poland, Slovakia as well as the Black Sea and Sea of Azov.

  • Location

    Ukraine is located strategically at the crossroads of Russian, European and Asian markets making it a gateway to venture into the nearby markets.
  • Diverse Sectors

    It has diverse economic sectors such as Agri-Business, Energy, Transport, IT, etc. It also has a very large heavy-industry base and is one of the largest refiners of metallurgical products in Eastern Europe. The country is also well known for its production of high-technological goods and transport products, such as Antonov aircraft and various private and commercial vehicles.
  • Taxation

    Ukraine’s standard corporate income tax rate is 18% and general VAT rate is 20%. There are also certain transactions subject to 0% and 7% VAT rates as well. Tax registration as a VAT payer is compulsory if the volume of an entity's taxable transactions exceeds UAH 1 million for the past 12 consecutive months. Until 2021, tax holidays are available to taxpayers with annual income less than UAH 3 million, provided they meet certain requirements.
  • Swift Processing

    The time required for formation of a company in Ukraine is much lower as compared to other countries.

REQUIREMENT TO OPEN A COMPANY

BASIC REQUIREMENTS

  • Minimum 1 Shareholder (Individual/Corporate Entity).
  • Minimum 1 Director.
  • Shareholders can be of any nationality. However, at least 1 Director should be Ukrainian Citizen/PR certificate holder at the time of incorporation. Later a foreigner with work permit can be appointed as Director.
  • There is no minimum capital requirement.
  • A local registered office address.

DOCUMENTS REQUIRED

  • Power of Attorney for company incorporation.
  • If shareholders are Physical persons: Ukrainian Tax ID (even for the foreigners), Copy of the passport.
  • If shareholder is a Legal Entity: Copy of Extract/Certificate form the Trade register and Certificate of incorporation, Copy of the passport of all beneficial owners.

OUR SERVICES

Incorporation services:

  • Preparation of all needed documents (POA, Minutes, applications, Charter etc) in Ukrainian and English.
  • Assistance in company formation
  • State Registration and obtaining VAT Payer certificate
  • Assistance in opening a bank account

Other Maintenance & Compliance Services:

  • Assistance in obtaining work permit and Temporary residency certificate (if needed).
  • Provision of Nominee Director.
  • Provision of Legal Address.
  • Company Secretarial Services and compliances.
  • Book keeping and Preparation of financial statements.
  • Filing tax and annual returns.

TIME PERIOD

It usually takes 1 week for setting up a company in Ukraine. However, the registration with the Tax Authorities takes around 2 weeks.
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