Helped a German citizen to create company in Ukraine

Incorporation in Ukraine for foreign citizens

During summer of 2016 our law firm was contacted by a foreign national (citizen of Germany) who was interested in doing business in Ukraine as well as wanted to avoid 90 days staying limitation by acquiring residence in Ukraine based on the ground of incorporation.

You can learn more about Ukrainian residency through company formation in one of our publication.

Also, you can read about similar case, when our attorneys helped a citizen of the USA to establish business in our country and get local residence.

We began with the choice of legal entity which was decided to be limited liability company. It is arguably the best form for doing business in Ukraine due to a number of reasons.

As soon as the business organization form was clear, the client granted us power of attorney to represent him in all registration procedures so from then on he was free to get back to his daily business while our attorneys were busy with incorporation procedures.

First of all, we received Ukrainian ITIN (individual taxpayer identification number) for the founder because it is a compulsory document for subsequent company registration.

Since the major area of the future LLC's activities was supposed to be investments and financial services, out lawyers drafted charter (articles of incorporation) accordingly and included the necessary for future activities stipulations. As soon as the charter, minutes and other incorporation papers were ready, our lawyers completed the registration process by filing the documents with the local authorities in Kiev that are in charge of business registration.

Therefore only after a week since the beginning of the incorporation process, our client had a registered company. However, since a foreigner cannot become manager (CEO) of his/her company at once and requires interim CEO with Ukrainian citizenship (whom we provided), the client still needed to get employment permit. You can read about obtainment of work authorization document in Ukraine in our next publication.