Is it possible to transfer my business from the UK to Ukraine?

In 2021 we faced several inquiries from our foreign Clients as to whether it is possible to effectively transfer their business or part of their business to Ukraine from the UK. This is not the only direction whose businessmen plan to establish trade and business relations with Ukraine. A favorable location, a developed transport system and its own large market make Ukraine an interesting place to do business.

Of course, there are also risk factors - not the most reliable geographical neighbor and overburdened local legislation. If nothing can be done about the first at the moment, a qualified lawyer can help with the second.

Related article: How to buy a ready-made business in Ukraine?

Questions that we are asked regarding the transfer of business to Ukraine

What should I start with: registering a company for myself, or will a ready-made company suffice? 

Actually everything depends on your desire and plans. As a standard, registration is cheaper, but it takes more time. On the other hand, it only makes sense to buy a particular business that either fully meets all your requirements and already has a developed client base, or has some assets that you need, or has some other specific advantages. In other cases, it is better to register a business for yourself.

A separate case - if you want to get a clean company, but with a ready-made license, which would otherwise have to wait a couple of months - in which case we can offer a number of ready-made companies and re-register.

Do you help in opening bank accounts for foreign businesses?

Yes, we help with opening bank accounts for both foreign businesses and individuals-citizens of other countries. You will need a bank account in almost 100% of cases of business transfer to Ukraine. In this case it is important to know not only in which Ukrainian bank to apply, but also at what time, as well as what documents need to be prepared in advance.

Is it necessary to look for an accountant in Ukraine and how much is needed?

Having an accountant is mandatory for certain types of activities, such as if you plan to provide financial services, and often desirable for most cases. We can help with accounting support on a fee-for-service basis. Typically, our attorneys are appointed by the directors of large companies, such as in cases of outstaffing or remote work for a certain period of time.

An outsourced accountant can be very useful for your business in Ukraine while you are still figuring out exactly how accounting systems work in Ukraine, as well as local taxation issues on your own. Having a person who knows the practice and Ukrainian laws will help to avoid problems such as double taxation or sanctions from the tax office.

Can the business registration process be done remotely? 

Almost the whole procedure of business registration in Ukraine can be done remotely on the basis of a power of attorney. 

Ask our specialists about the cost of services.