Drastic reduction of the fee for registration of a representative office
| 30/03/20 | ||
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Legal services in Ukraine: Corporate legal services, Registration of foreign company’s representative office in Ukraine |
In autumn 2019 the Government of Ukraine adopted a resolution that regulates certain issues of registration of representative offices of foreign companies in Ukraine. Among other changes, the cost and time of registration of a representative office in Ukraine has been significantly reduced.
Does this mean that it has become even easier to register a representative office?
Let's start by highlighting the novelties in the procedure.:
- the registration fee will be one living wage for able-bodied people;
- registration procedure - 20 working days instead of 60 (calendar).
Related article: Representative office in Ukraine: Our practical experience and interesting aspects
How much is the cost of living in Ukraine today?
According to the Law of Ukraine "On State Budget ...", starting from 01.01.2020, the minimum income of citizens is 2,102 hryvnias. - 2197 hryvnias, and from 01.12.2020. - 2270 hryvnias.
Of course, the current situation in the world may affect these numbers, but in any case, one living wage is much less than ,500.
Related article: Various types of representative offices in Ukraine and typical mistakes which are made while opening one
How have the term of opening a representative office changed??
The registration procedure for a representative office in the Ministry of Economic Development has been reduced to 20 working days - plus or minus one calendar month, instead of 60 calendar days. Thus, the registration terms have actually been reduced by half, rather than by three times as it may seem.
Has the procedure for registering a foreign representation changed?
The package of documents submitted for registration of the representation has not changed. The requirements for such documents remained the same.
The process of registration of a representative office of a foreign company still requires a clear preparation, correct execution and strict compliance with the rules of law.
Approximately, from April 2020, You will already be able to register a representative office in Ukraine according to new rules.
Important! Registration fee can be paid only in hryvnia currency and from hryvnia account. Ideally, if your official representative in Ukraine will do it for You.
If you want to register a representative office of a foreign company in Ukraine quickly and reliably - contact us!
