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 up to 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 2013.

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  • Standardized Company

  • Legal Form: Tovarystvo z Obmezhenoyu Vidpovidalnistyu - Limited Liability Company
  • Paid in Minimum Capital Requirement: None
  • City: Kiev
No. Procedure Time to Complete Associated Costs
1 Pay registration fee at the bank

Under Law of Ukraine “On State Registration of Legal Entities and Individual Entrepreneurs” № 755-IV dated May 15, 2003 (effective from May 15, 2003) (, state registration fee is 170 UAH
1 day UAH 170
2 Register at the Registration Office

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, which confirms payment of the LLC registration fee (bank receipt); in case the documents are filed in e-version (e-registration of the LLC), the e-confirmation certified with e-signature must be provided;
- 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.

5 days free of charge
3 Register VAT at the State Tax Authority and obtain a VAT number

As defined in the Tax Code of Ukraine No.2755-VI dated on December 02, 2012, 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 300,000 (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.
If a company, doesn't registered as VAT taxpayer, imports on the custom territory of Ukraine in taxable amounts, such company will have pay VAT during customs clearance operations without registration as VAT taxpayer.
10 days free of charge
4 Prepare a seal

On 11 January 2011 the Ministry of Internal Affairs of Ukraine approved the Order No.17, which came into effect from 21 February 2011. This Order introduced the amendments to the procedure of making an LLC seal. The legislation, which was previously in effect, established an obligation for the LLC to provide a seal-making company with a Permit for Making a Company Seal in order to get the seal produced. Such Permits were issued by the local internal affairs departments at the location of the LLC registered office. The Order eliminated this requirement that substantially simplified the procedure.
2 days UAH 190-250, depending on the complexity of a seal
5 Open a permanent bank account

In case a limited liability company did not open a bank account before state registration of a limited liability company, it must open the account after registration. Pursuant to Regulation 492 of the National bank of Ukraine, the following documents are required for opening the current bank account:

(1) application on opening of the current account;
(2) notarized copy of the registered charter;
(3) bank signature specimen card certified by a notary.

Pursuant to the Law of Ukraine "On Banks and Banking Activity", the banks must identify natural persons who are direct or indirect owners of the material participatory interest in the Ukrainian limited liability company and banks authorized additionally to require copies of documents or information necessary for identification of natural persons.

1 day bank’s charge or no charge
6 Notify the District Tax Inspectorate of the opening of the permanent bank account

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 3 business days 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.
2 days no charge

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