What is the Driving Force Behind Increasing Foreign Investment and Company Incorporate in Ukraine?
Many foreigners like to company incorporate in Ukraine due to its lucrative benefits. The following are the reasons behind investing in Ukraine:
- It is easy to incorporate a company in Ukraine. The entire process of business registration is relatively simple and can set up within a few minutes.
- The labour cost in Ukraine is quite low which is a major driving factor for investing in new business.
- Government incentives are attractive as they have a simplified taxation system and they are striving for a business-friendly service. Such incentives encourage foreigners to incorporate a company in Ukraine.
- One can start a company with a meagre investment of USD 1.
Legal Entities Operating in Ukraine:
- Limited Liability Corporation: The liability of the company is liable to the contributions made by the company shareholders. This type of legal entity can set up within two business days. Then, the tax is charged at standard corporate tax rates of Ukraine.
- Joint Stock Company: It is a type of company which is limited by shares and is mostly with larger companies. It would also help if you appointed a secretary who will handle all the conversations between the company and the shareholders.
- Representative Office: A representative office is a good way of understanding if the market of Ukraine is preferable for business. According to government law, one cannot conduct any business activities which can generate sales for the company.
- Branch Office: A branch office is a legal entity opened in a different country to engage in commercial and business activities. Then, the parent company controls all the operations of a branch office.
What Are Some of the Essential Requirements for Company Incorporation in Ukraine?
Before setting up a business in Ukraine, it is essential to select the right business entity so that you can derive maximum benefits from company incorporation. 3E Accounting Indonesia can also help you choose the right business entity depending on the business requirement, capital investment, number of shareholders.
Following are the list of requirements which must submit before establishing the most common legal entity of Ukraine:
- You need to have shareholders anywhere between 1 and 100 to set up an LLC in Ukraine. Shareholders can be foreign or local individuals or corporate entities.
- Appoint a board of directors who can be local to Ukraine or foreign individuals who will have to obtain a work permit to work in Ukraine. Shareholders appoint these directors through a general meeting.
- Register an office address in Ukraine which comes to the place of business operation and for mailing purpose.
- As there is no minimum amount requirement for share capital. Hence, they require 1 USD as the minimum amount.
- You can easily incorporate a company in Ukraine within a week if you have submitted all the required documents along with an application form. Then, 3E Accounting experts can handle the formation and submission of the documents to the relevant authorities
- The draft employment agreement for all the employees whom you are going to hire along with work permit and residency permit temporarily.
3E Accounting has years of experience in incorporating a company in Ukraine. We also have a complete team of experts who can handle different departments like accounting and taxation, document-making and submission, marketing and sales. Get in touch with us through an email or call and our company will be more than happy to assist you in incorporating a company in Ukraine.