Starting a company in Ukraine: A Complete Guide for Entrepreneurs

When the time comes that you do not have enough of our service as a Trade Agent in Ukraine.  It is worth thinking about opening a legal entity in Ukraine.  And here we are also happy to come to your assistance, to open you a Legal Entity in Ukraine with the provision of a nominee Director, who is a citizen of Ukraine, having from you only a power of attorney to register a new legal entity. On the page Cost of opening a legal entity in Ukraine, you can get acquainted with the cost of all services in the opening and maintenance of a legal entity. In the meantime, let's familiarize ourselves with the process of opening a legal entity in Ukraine.

Ukraine is a country with a huge potential for business and investment. Opening your own company in this country can be a great step for entrepreneurs, foreign investors and startups. In this article, we will provide you with a detailed guide to the procedure of registering a business in Ukraine and give advice on key aspects of entrepreneurship.

1. Choosing a Business Structure

First of all, you should decide on the form of ownership of your future business. You can register as an individual - Private Entrepreneur (PE) or create a Legal Entity (LLC, JSC, etc.). This choice affects tax liabilities and activity limitations, so consider it carefully. This overview article lists the main forms of business ownership in Ukraine, their limitations and tax obligations.

2. Company Registration

To register your company you will need to visit the office of the local state registrar, who will issue a certificate of registration of a new legal entity or use the services of an agent who will act on your behalf. You will need the following documents:
- Application for registration.
- Articles of Association of the company.
- Identity document of the founder.
- Confirmation of the registration address.
 

3. Registration with the tax office

After registering your company with the registrar, you must register it with the tax service. Ukraine has an extensive taxation system, so before registering your firm with the tax service of Ukraine, it is important to choose the tax system that best suits your business. This article discusses the main forms of taxation for legal entities in Ukraine.

4. Opening a Bank Account

You will need a bank account to record the financial operations of your firm. Ukrainian banks offer a variety of terms and conditions, so choose a bank that fits your needs. In this article we will discuss opening a bank account for a Legal Entity in Ukraine.

5. Licenses and Permits

Depending on the type of business, you may need special licenses or permits. Please ask us in your individual inquiry if any licenses are required for your type of business?

6. Accounting and Reporting

Ukrainian legislation requires bookkeeping and reporting. Many entrepreneurs hire accountants to perform these duties or use bookkeeping services from outsourced bookkeeping companies. This article describes the main accounting reporting documents that must be submitted to the tax service of Ukraine, as well as the cost of outsourced bookkeeping.

7. Protection of Intellectual Property Rights

If your business is related to innovation and intellectual property, be sure to register your rights to patents, trademarks and copyrights in Ukraine.

8. Hiring Personnel

As your business grows, you may need to hire employees. Keep in mind that Ukraine has labor laws that regulate the relationship between employers and employees. You can hire staff yourself or turn to human resources professionals who work on outsourcing.

Opening a company in Ukraine is an important and responsible step, but with the right preparation and compliance with all laws it can be a successful start of your entrepreneurial journey in Ukraine. Let's calculate how much it will cost to open and maintain a legal entity in Ukraine per month.  Do not hesitate to contact Trans-Hope.