MainPublicationsComments on legislationHow to open a pawnshop, currency exchange or other financial company in Ukraine?

How to open a pawnshop, currency exchange or other financial company in Ukraine?

Views: 64

Financial company is an organization that provides various kinds of services in Ukraine related to the use and movement of funds from one Client to another under license.


Many people think that the most difficult procedure will be to obtain a license for financial activities in Ukraine, forgetting that the opening of a financial company is in itself a multi-step process that takes a lot of time and money. 


Which financial company can be opened in Ukraine and what is the process?


Financial institutions in Ukraine include:

  • banks;
  • insurance companies;
  • pension funds;
  • credit unions;
  • investment funds, companies on trust management of investors' funds;
  • brokerage companies;
  • dealer companies;
  • stock exchanges.


Financial companies are also divided into banking and non-banking institutions, such as leasing companies, insurance companies, credit unions, stock exchanges and other organizations that are not banks.


With the help of our lawyers you can determine the type of financial institution to open in Ukraine.


Related article
: How to start Your business in Ukraine?

Procedure for registering a financial company in Ukraine 

In Ukraine, licenses for financial organizations are issued by the National Bank of Ukraine. It has been doing this recently, since July 2020, and therefore there is no precise idea of the terms of registration of financial institutions and changes in their licensing conditions. This is due to the fact that in practice not enough companies have passed through the NBU. This question can be solved by purchasing a ready-made financial company, which can be offered by our company, or by preparing in advance all documents for the registration of a financial company in Ukraine "from scratch".


The very process of registering a financial company involves going through such stages:

Stage 1. Company registration.

First of all, a company must be registered as a legal entity. For this and all subsequent steps to be successful, you must take immediate care of things such as: 

  • The size of the authorized capital. 

So, if you want to, say, register a factoring company, its authorized capital should be not less than 3 million UAH. 

  • Correspondence of the future director to the position he will take. 

This refers to his education, work experience and inherent experience, what was his last job and position, whether he has an impeccable reputation, etc.

  • Originally correctly drafted charter of the enterprise. 


We advise you not to use the standard for registration of legal entities, a template statute. The Charter should be drafted responsibly, because, for example, specifying in it any other activities, except for financial services, may result in your being refused at the stage of company registration with the NBU, not to mention the chances of obtaining a financial license. 


Interesting
: How can a foreign company organize an outstaffing process in Ukraine?

Stage 2. Inclusion in the register of financial institutions.

Before you can obtain a license, you must register with the NBU to become a financial institution. As a result, you will receive a certificate of registration with the NBU and be registered as a financial institution. 


This process requires its own set of documents, which our lawyers will help you prepare.

Stage 3. Getting the financial license that suits you. 

This is the stage of obtaining, in fact, a permit for certain financial activities in Ukraine. Our specialists can analyze the type and direction of activities that you want to carry out, and engage in obtaining a license specifically for you. This way you do not waste time and money on obtaining a license that does not suit you. 


Do you want to open a financial institution in Ukraine? We will help you to do it!


Views: 64
Related materials
All related materials

Topic
related services: Immigration law Corporate legal services Company registration in Ukraine Registration of foreign company’s representative office in Ukraine
Sidebar menu
RELEVANT EXPERIENCE RELEVANT PUBLICATIONS