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Ukraine company registration

DOING BUSINESS IN UKRAINE IN 2022

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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.

Compare different Ukraine entities 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$10,900 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

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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

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For additional information on our company registration services in Ukraine, please contact our in-house country expert, Mr. Petar Chakarov, directly:
client relationship officer - Petar
  • Mr. Petar Chakarov
  • Client Engagements Manager
  • Contact me!
UMoF UCoC UCB UMFor UMoR Privatbank Raiffeisen Bank Aval
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