Ukraine company registration

DOING BUSINESS IN UKRAINE IN 2020

Since 2003, Healy Consultants Group PLC has assisted our Clients with starting their business in Ukraine. Our services include i) Ukraine business registration ii) corporate bank account opening iii) employee recruitment strategies and iv) office rental solutions.

Summary table of Ukraine company registration

Summary	Tax resident LLC	Private JSC	Public JSC	Representative office	Branch of a foreign company	Fast Solution LLC
Best use of company?	Trading company	Trading on the Stock Exchange	Raising capital	Marketing and research	Commercial representative office	Close a customer deal now
Legally tax exempt if properly structured?	No	No	No	No	No	No
Corporate bank account location?	Credit Agricole	Raiffeisen Bank Aval	Privat Bank	Alfa Bank	Sberbank	Sberbank
Client must travel to Ukraine?	No	No	No	No	No	No
Can secure trade finance?	Yes	Yes	Yes	No	Yes	Yes
Limited liability entity?	Yes	Yes	Yes	No	No	Yes
VAT payable on sales to local customers	20%	20%	20%	0%	20%	20%
Withholding tax on payments to overseas shareholders?	15%	15%	15%	15%	15%	15%
Average total engagement costs?	US$9,800	US$9,500	US$9,500	US$8,800	US$8,800	US$25,760
Average total engagement period?	3 months	6 months	6 months	6 months	6 months	2 months

See full table

Accounting and tax considerations	Tax resident LLC	Private JSC	Public JSC	Representative office	Branch of a foreign company	Tax resident LLC
Statutory corporation tax payable?	18%	18%	18%	0%	18%	18%
Must file an annual Ukrainian tax return?	Yes	Yes	Yes	Yes	Yes	Yes
Effective corporation tax rate on net profits of US$ 250,000	18%	18%	18%	0%	18%	18%
Must file annual financial statements?	Yes	Yes	Yes	Yes	Yes	Yes
Investment income is legally tax exempt in Ukraine?	No	No	No	No	No	No
Access to double taxation treaties?	Yes	No	Yes	No	No	Yes
This entity enjoys Government incentives?	Yes	Yes	Yes	No	Yes	Yes
Monthly VAT reporting to the Government?	Yes	Yes	Yes	No	Yes	Yes
Legally tax exempt entity?	No	No	No	No	No	No
Dividends received are legally tax exempt?	No	No	No	No	No	No
Company registration	Tax resident LLC	Private JSC	Public JSC	Representative office	Branch of a foreign company	Fast Solution LLC
Ukrainian resident director/partner/manager required?	Yes	Yes	Yes	Yes	Yes	Yes
Minimum number of shareholders/partners?	1	1	1	Parent company	Parent company	1
Minimum number of directors/managers?	1	1	1	1	1	1
Minimum paid up share capital?	US$1	US$59,741	US$59,741	US$0	US$0	US$1
Shelf companies available?	Yes	Yes	Yes	No	No	Yes
Time to incorporate a new entity?	1 week	1 week	2 weeks	1 week	1 week	1 week
Can easily convert to a local PLC company?	Yes	Yes	Yes	No	No	Yes
Can have preference shareholders?	Yes	Yes	Yes	No	No	Yes
Business considerations	Tax resident LLC	Private JSC	Public JSC	Representative office	Branch of a foreign company	Fast Solution LLC
Can invoice local customers?	Yes	Yes	Yes	No	Yes	Yes
Can hire local staff?	Yes	Yes	Yes	Yes	Yes	Yes
Can rent local office space?	Yes	Yes	Yes	Yes	Yes	Yes
This entity can secure a residence visa for business owner?	Yes	Yes	Yes	Yes	No	Yes
Good entity for trademark registration?	Yes	Yes	Yes	No	No	Yes

Ukraine has signed free trade agreements?	Yes, see this page
This country is a member of WIPO and TRIPS?	Yes
The country is a member of the ICSID?	Yes
Average customs duties suffered?	10%
Government foreign investment approval is required?	No
Average monthly office rental? (US$ per sq m)	US$352
Minimum statutory annual salary?	US$2292
Average monthly US$ salary for local employees?	US$5160
Ukrainian grivnya deposit interest rate? (1 year average)	11.77%
US$ deposit interest rate? (1 year average)	5%
Overseas remittance currency controls?	Yes
Public register of shareholders and directors?	Yes
Banking considerations
Multi-currency bank accounts available?	Yes
Corporate visa debit cards available?	Yes
Quality of e-banking platform?	Good
Crowd funding available in this country?	Yes

Tell us what you need - we’ll send you a customised proposal in 5 hours!

To help us engineer the optimum Ukraine corporate structure, please complete the 3-minute questionnaire below; then press the submit button below.

This data remains confidential and is not sold to third-parties.

Within 5 hours, one of our senior staff will ring or email you:

Company purpose?
Will the LLC be a trading company or a holding company?
Will the entity be a subsidiary of a foreign company?
The LLC will be tax resident? Having local customers and local staff and local suppliers?
The entity will receive investment income or professional services fees or sales from trading with multi-national customers?
Is double taxation treaty access important?
Do you need our help to legally minimize your international tax obligations?
Do you need our help to increase e-commerce sales (click link)?
Company structure?
Will the shareholders be individuals or corporate?

In what country do you require a corporate bank account? Refer to this web page (click link) for ideas

Do you need multi-currency corporate visa debit cards?

Do you need a resident director?

Nationality of shareholders and directors?
Expected annual sales and net profits?
Does the entity need a special regulatory license or import or export license?
Additional comments?
Tell us about your existing business?
Name of your existing company?
Your business web site address?
What products and services does your company supply?
How many years are you operating this business?
Is your Firm regulated by a Government agency?
In what country are the majority of your customers?

In what country are the majority of your suppliers?
Tell us about you?
Your name?
Your email address?
What country are you based in?

Specifically, what deliverables (click link) do you need?
What is your US$ budget for the services you need?
What does quality customer service mean to you?
How do we contact you?
For now, do you prefer Healy Consultants PLC staff to phone you, or just email reply you with some corporate solutions?
If a phone call, on what number can our senior Consultant call you?
If an email, what email address can our Consultant email you at?
What is your preferred date and time for a phone call?
In what language do you prefer we communicate with you?
What matters would you like to discuss during the call; the agenda?

Thank you for taking the time to complete this important questionnaire. It will help us to timely complete your engagement with minimum inconvenience to you.

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DOING BUSINESS IN UKRAINE IN 2020

Summary table of Ukraine company registration

Tell us what you need - we’ll send you a customised proposal in 5 hours!

Company purpose?

Company structure?

Tell us about your existing business?

Tell us about you?

How do we contact you?

Useful links for Ukraine

Contact us