Starting a Business in


Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Ukraine. It examines the procedures, time and cost involved in launching a commercial or industrial firm with between 10 and 50 employees and start-up capital of 10 times the economy's per-capita gross national income.

This information was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 189 economies. The most recent round of data collection was completed in June 2015.

Compare Ukraine to 188 other economies.

  • Standardized Company

  • Legal form: Tovarystvo z Obmezhenoyu Vidpovidalnistyu - Limited Liability Company
  • Paid-in minimum capital requirement: UAH 0
  • City: Kiev
No. Procedure Time to Complete Associated Costs
1 Register at the Registration Office
Agency: State Registrar

Currently, the LLC founders to enforce its registration with the state must submit to the Companies Registrar the following documents (s.24(1) of the Act of Ukraine "On State Registration of Legal Entities and Individual Entrepreneurs"):
- application form (the format of the application form is standard and is approved with the Order of the Ministry of Justice of Ukraine dated 14 October 2011 No.3178/5);
- original (copy or notarized copy) of the founders' decision on establishment of the LLC;
- 2 (two) copies of the LLC company charter executed by the founders; must not be filed in case the LLC will be established based on the model charter; in case the documents are filed in e-version (e-registration of the LLC), one copy must be filed;
- document evidencing the individual beneficiary owners of the LLC, in case the formal founders of the LLC are legal entities.
Although, requirement to accompany the registration application with an instrument (e.g. lease or sale-and-purchase agreement) confirming company's entitlement to occupy the office premises where its management is to be located (registered address) was abolished, in practice, the Registration Office may still demand that such document be provided for verification.
3 days no charge
2 Prepare a seal
Agency: Sealmaker

The use of a company seal is not mandated by law but the seal is widely use in practice. The Registrar itself requires for documents to be sealed.

Courts and state authorities usually accept powers of attorney issued by legal entities only if they are sealed. Otherwise they demand the POA to be notarized. Banks require payment orders to be sealed only if a specimen signature card (one of the documents a company needs to provide to the bank while opening an account) contains not only signatures of company’s authorized officials, but also the seal.

Certificates and applications that are signed by a company’s official but not sealed are still considered by state authorities as not trustworthy unless they have been signed in front of a state official. Among the exceptions are tax records, as tax authorities accept them in paper form without the seal if a signee marks the record with “w/s” (“without seal”).

1 day UAH 190-250, depending on the complexity of a seal
3 Open a permanent bank account
Agency: Bank

According to the regulation № 212 of the National bank of Ukraine "On Alteration to some regulation acts of the National bank of Ukraine" dated June 06, 2013, the list of required documents for opening of the bank account for the Legal Entity is as follows:
a) bank signature specimen card certified by a notary is replaced by card with samples of signature and imprint of seal;
b) the copy of extract from Unified State registrar of Entities and Entrepreneurs needs to be presented (;
c) an application for opening a bank account and
d) a notarized copy of the legal entity's charter.

In case a limited liability company did not open a bank account prior to the state registration of a limited liability company, the bank, Pursuant to the Tax Code, must notify the tax inspection about the account opening within 1 business day after the account opening. Within three business days after receiving a notification from the bank, the tax inspection must notify the bank on registration of the account or about refusal to register the account. In practice, notification of the tax inspection by bank and receiving answer from the tax inspection takes 1-2 business days.

A limited liability company may use its account for outflow operations only after the bank receives notification from the tax inspection on registration of the respective account.

According to the Tax Code Amendments and the Notification Order, the bank shall notify the Ministry of Duties and Revenues of Ukraine via Internet about the account opening within 1 business day. After receiving the electronic notification through the Internet portal, a local tax authority within 1 business day shall notify the bank about registration of the account/refusal to register the account (if applicable).
1 day no charge
4 Register VAT at the State Tax Authority and obtain a VAT number
Agency: District Tax Office

As defined in Law No. 71-VIII On Amendments to the Tax Code of Ukraine and some Legislative Acts of Ukraine Concerning Tax Reform which went into effect on January 1, 2015, if the total amount of transactions with delivery of goods or/and services, including the use of local or global computer network, charged (paid) during last 12 calendar months, totally exceeds UAH 1 million (excluding VAT), such company is obliged to register as VAT taxpayer, except single tax payer company. Actually, Art. 182 of the above mentioned Tax Code also provides option for voluntarily VAT taxpayer registration.

The Government of Ukraine issued an Order of the Ministry of Finance № 185/26630 “On Amendments to the Regulation on registration of taxpayers VAT” on February 2, 2015, which came into effect on March 30, 2015. The aforementioned order stipulates that the VAT registration shall be made within 3 working days after filing the registration statement to the state authority. In the future, the filing of the VAT registration statement will be done electronically. The online system is not yet operational in practice.
2 days free of charge

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