WHAT CORPORATE CHANGES ARE POSSIBLE IN UKRAINE THESE DAYS?

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WHAT CORPORATE CHANGES ARE POSSIBLE IN UKRAINE THESE DAYS?

The relevant state register was out of operation for a few weeks. This measure was introduced to avoid unauthorised changes and limit the possibility of hiding companies’ assets with Russian roots.

However, given the need for businesses to introduce urgent and most significant changes, the Ministry of Justice of Ukraine has recently lifted some of the limitations.

As of the date of this alert, it is now possible to effect the following registration actions in Ukraine:

  • Replacement of the CEO due to the death of their predecessor;
  • State registration of charity funds and NGOs for humanitarian needs, as well as introduction of changes concerning such civic formations; 
  • Change of the legal entity’s registered address
  • State registration of banks, state and municipal bodies; 
  • Change of registered types of activities for individual entrepreneurs; and

Termination of activities of individual entrepreneurs.

It is still impossible to effect some essential changes: for example, change of the CEO, changes to shareholders, voluntary liquidation of a legal entity, and amendments to a legal entity’s articles. 

Moreover, only a few state registrars are authorised to execute these registration actions. 

However, there are a number of novelties that simplify state registrations, for example:

  • It is possible to apply for state registration anywhere in Ukraine where no military operations take place; 
  • It is no longer needed to certify documents before a notary (a state registrar is authorised to verify the applicant’s signature); 
  • It is possible to apply for state registration online using a qualified e-signature issued in Ukraine;
  • State registration is to be completed immediately; and
  • The state fee is abolished.

The above peculiarities are effective as of the date of this alert. However, the situation changes rapidly. Thus, we encourage you to check whether some of the limitations are lifted once you need to effect some changes.

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