Time of establishment of the company
Ukraine is the largest country in Europe. The country is famous for its huge port system and railway network, which provide an excellent infrastructure for import / export. Many investors have settled in Ukraine, and for good reason, as there are still market niches where there is no competition. Investors use Ukrainian solutions mainly as a platform for importing grain, meat and other essential goods. Our clients complain about difficulties in running a business such as: bureaucracy, fiscalism, high taxes or corruption. In recent years, the country has made great progress in adapting the legal system and administration to the requirements of the modern business world. Ukraine also has the advantage of being located at the gates of Europe and Russia, with a competent and cheap labour force.
What to keep in mind
After the crisis, Ukraine’s economy entered a growth path. This creates opportunities for Polish business – it is worth considering setting up a company in Ukraine – the cost of registration is not high and the potential of that region of the world – huge.
Company registration procedure
Registration of the company:
- Preparation of the memorandum of association
- Completion of the registration application
- Submission of documents to the Companies Register
- Registration of the company
- Registration with the tax office
- Opening of a bank account
- Choice of accounting policy.
There are no restrictions on the number of shareholders, however, a minimum of one shareholder is required to establish a company. Foreign shareholders are allowed.
The board consists of natural persons and is responsible for the management and representation of the company. The Board may be single or multi-person.
The company must have a registration address, the use of virtual offices is allowed.
Time to set up a company:
The time of establishing a company is about 3 weeks.
No minimum capital required.
Taxes and finances
Corporate income tax in Ukraine is 18%. The 20% VAT rate applies only to the supply of services and goods in Ukraine. The accounts must be kept by a licensed accounting office.
Local labor law
Ukraine is not a frequent investment destination. Nevertheless, one should consider opening a Ukrainian company by conducting international trade with Asian countries (e.g. on the Caucasus) or looking for directions to develop agricultural or breeding activities.
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