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HomePublicationsRepresentative experienceIs it possible to transfer my business from the UK to Ukraine?

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

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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. The reason for this interest was Brexit and certain problems in supplying goods to and from the European Union.

Transfer of business to Ukraine is a search for a new jurisdiction for the organization of trade with European Clients. Ukraine can offer not only a place for business registration, but also an advantageous customs policy with the European Union and open an additional - Ukrainian market.

Our company offers full legal support for foreign business opening in Ukraine. Today we will talk about the ways of transferring your business to Ukraine and in which cases it will be beneficial.

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? 

The price of buying a ready-made company depends on the specialization and characteristics (for example, whether you just need an LLC with VAT or with a certain license). The cost of both creating and buying a ready-made company will be from 0. As a guideline, you can take this rule: registration will cost you two or three times cheaper, but will take considerably more time. If you have the time, your option - registration.

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 possible to get a virtual office for business in Ukraine, and do you provide such services? 

Yes, if necessary, we help with the legal address of the company registration. The cost of such an address is about 0-300 per year.

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. Personal presence will be required at the stage of opening an account, and only if this is required by the scheme of opening a business that you have chosen.

Our lawyers will help you to organize the whole process correctly, so that all the issues in Ukraine can be solved in a minimum amount of time.

Related article: How to open an online store in Ukraine as a foreigner?

The cost of opening a business in Ukraine will depend on the form of business:

If you are planning to register a British or other foreign business in Ukraine, please contact us. We will help you not only with registration activities and obtaining the necessary permits, but we will also advise you on the scheme of doing your business through Ukraine.

Views: 398