Official Name: Ukraine
- Consultation (in person, online, phone)
- Helping to prepare your documents
- Start to finish your company registration process
- Immigration services
Ukraine is located in the east of the European Union, which borders the Black Sea. If you are thinking of investing in a European country, Ukraine is one of the best European countries for excellent and good investments. The workforce in this country is professionally trained. It ranks fifth in the world in terms of IT professionals. Many investments are made in the agricultural industry. The country has major reserves of titanium, zirconium, iron and manganese.
Is it necessary to hire a number of employees or local employees to activate the company?
No. The Ukrainian system is different from countries like Turkey, and the company is valid and active with only one (foreign) founding member.
What is the minimum capital of the company?
A minimum of $ 5,000 (approximately $ 150) is recommended. Consider an initial capital of at least $ 500. After opening a bank account, you must deposit the initial capital into your bank account. Of course, you can spend the deposit later and do not need to keep it in a block account.
Should the company name be Ukrainian?
No. It is not necessary to use a Ukrainian name and the company name can be very short or even duplicate.
Is it necessary to hire an accountant?
No. But Ukraine is very strict in the field of taxation, and without hiring a certified and certified accountant, the company will have problems.
Do I have to rent an office to register for a company?
No need to rent a real office. Registered addresses can be used for a one-year fee. For an additional fee, you can also use the services of a shared office (secretary, telephone, fax, real address, receiving correspondence, etc.).
Do I have to partner with a Ukrainian citizen to register a limited liability company in Ukraine?
No. Foreigners can register without having to partner with a Ukrainian citizen
Will registering a company in Ukraine lead to obtaining a residence permit in Ukraine?
Just to register the company, no. However, by obtaining a work permit, company members, employees, and their family members can obtain a renewable residence visa and live in Ukraine for many years without having to leave.
Do I need a work permit to register a company in Ukraine?
Yes. Obtaining a work permit is required, otherwise, you will be fined and you will not have the right to sign in your own company.
Is it necessary to present company documents in Iran or a business card to register a company in Ukraine?
No. No other evidence is required.
Does a permanent resident need a work permit?
No, he is considered a citizen and no longer needs to get a work permit.
What is the minimum tax per year to keep the Ukrainian company active?
If your company registered in Ukraine does not conduct official transactions, there is no need to pay taxes. Unlike many other countries, there is no minimum tax or fee that a company must pay to prevent liquidation by the Department of Justice. However, if your business has not submitted any financial statements in 3 years, this could be a reason to start liquidating the company.
The benefits of company registration
- Given the very high probability of Ukrainian membership in Schengen, you have the chance to obtain this visa by paying for the residence permit in Ukraine (a very small amount) and registering the company now. This has led many citizens of other countries to apply for residency before the law changes.
- The same rights and benefits as Ukrainian citizens.
- Ability to work for yourself and family members in your company or another company.
- Possibility of free education in universities and schools of the country for yourself and your family members.
- If a child is born in Ukraine, it is possible to obtain permanent residence in Ukraine and subsequently obtain a Ukrainian passport (residence in Ukraine through the birth of a child).
- If you are a permanent resident of Ukraine (after obtaining temporary residence in Ukraine) and pay taxes, you can use the right to financial services (the right to financial services in Ukraine) to develop your business.
- All free medical expenses for yourself and your family.
- Those who obtain Ukrainian residency through marriage (Ukrainian residency through marriage), like most countries in the world, can apply for a passport and then travel to many other countries without a visa, benefiting from the benefits of permanent residency in Ukraine and even work residency. In countries such as Canada, Germany, the United Kingdom, and… receive.
- Obtaining a Ukrainian passport after permanent residence in Ukraine (if eligible).
- Low cost of living in Ukraine compared to many parts of the world.
The disadvantage of company registration
- Low benefits, and wages
- You must renew your visa every year
- Obtain a work permit that is only required for foreign citizens
- After all, you can apply for citizenship and residency in this country
What are the types of companies in Ukraine?
Ltd (LLC or LC or LTD)
LLC in Ukraine is the most common type of company for legal entity. In this type of company, the authorized capital (or so-called shares) of LLC is divided, the amount of which is determined by the articles of association. In the event of bankruptcy, the LLC shareholders are not liable to pay the corporate debt.
Legal entities (foreign or Ukrainian companies) and individuals, regardless of their country of citizenship or residence, can be founders of LLCs.
Ukrainian Limited Liability Company can be established by one person or by several natural or legal persons. The maximum number of participants (founders) LLC in Ukraine is unlimited. LLC can be formed as a sole proprietorship, so the company can be run by one person. The manager of this type of company can be the sole owner of the company at the same time.
The rights and obligations of the limited liability company manager (managing director) are set out in the articles of association. The correct legal form of the company, clear distribution of salaries and obligations between the founders and the board of directors and the correct choice of tax rates are important components of the sustainable and successful activity of the company. The articles of association are a very important document because they set out the rights and obligations of procedure and management for owners and executors.
There are two types of monopolies in Ukraine:
Fizichna osoba-pidpriyemets (or FOP) translates as “natural person entrepreneur” – a type of business formed without a legal entity. The profit tax rate is calculated at 15%.
Privatne pidpriyemstvo (or PP) translates as “private company” – a type of company registered as a legal entity. The profit tax rate is 18%.
Both types have unlimited liability for their obligations. Business owners are allowed to engage in any kind of business activity, including trade, manufacturing, services, construction, information technology, research, and other activities that are not directly prohibited by law.
The status of a joint stock company, the formation process and the rules of corporate governance are regulated by the Civil Code of Ukraine. The process of merging a public company in Ukraine is much more expensive and difficult than any other type of company. The minimum stock capital is 1250 UAH.
Characteristics of a special joint stock company:
- The maximum number of shareholders is 100.
- Only one private equity offer is allowed.
- The shareholder’s right to purchase the company’s shares can be determined by the articles of association.
- Shareholders always have the right to buy additional shares.
- Stocks cannot be bought or sold on the stock exchange.
The company registration process
Get a tax ID number
Foreign nationals must apply in person to the IRS or issue a power of attorney to a lawyer, along with a valid translation of the passport to be sent.
Immigration attorneys need documents and information:
- Company Name
- Type of business activity
- Tax system
- The amount of capital
- Number of shareholders, the ratio of shares
- Address and ways of communication with the shareholder
- The copy of the shareholder passport, etc.
Company business address
This address can be the address of your office or home. If you do not have an address, you can rent in Kiev for $ 450 a year.
Introducing a temporary manager
Until you receive a work permit in Ukraine, you need a temporary administrator, who can be a permanent resident of Ukraine or a citizen of Ukraine. If you do not have someone, you can find a temporary manager for $ 500 a month.
Registration of a limited liability company (LLC) in Ukraine
LLC is the most common legal entity for doing business in Ukraine. This registration may be done by a notary public, which costs about $ 150 for notarial services.
Get a work permit
Kyiv City Labor Center issues a 3-year work permit for company owners. The government costs about $ 450 for a 3-year work permit.
Obtaining a type D employment visa
The cost of a visa depends on your nationality, but the average price is $ 100. Here is a list of employment visa documents. To obtain a visa, you must apply at the Ukrainian Embassy Abroad.
The foreign founder must replace the interim director. Such a change may be made by a notary public at the discretion of the shareholders.
Signing and sending an employment contract
New and old managers must sign an employment contract, a copy of which must be sent to the work center that issued the work permit. This confirms the employment of foreigners. Failure to provide such proof may result in revocation of the work permit.
Get a residence permit
If your work permit is for 3 years, you can get a 3-year residence permit. The residence permit is issued by the State Immigration Office.
Registration address in Ukraine
The landlord must give written permission to the notary or he must come to the executive office himself.