Business creation in Ukraine.

Page content:
1. LLC registration.
2. Why open an LLC to start a business?
3. What do you need to open a limited liability company?
4. What documents are required to register an LLC?
5. Cost of company registration services.
6. Features of registration of sole proprietorship.
7. Cost of sole proprietorship registration services.
8. Related services.

Registration of LLC / Firms / Enterprises and Sole Proprietors in Kyiv and Throughout Ukraine in the State Fiscal Service.

Anyone can come up with the idea that may bring good profit in the long run. However, before starting your own business, you must first go through the official registration procedure with the State Fiscal Service.

For start-up businessmen, it may be enough to register a sole proprietorship (FOP in Ukrainian). However, this type of entrepreneurial activity has some limitations. For businesses with large turnovers, the registration of an LLC is more suitable. In any case, before opening a company, it is worth consulting with lawyers and finding out all the pitfalls, restrictions, and nuances for all types of business entities.

The Kolt law firm offers its clients the services of establishing legal entities. Our organization’s specialists will help you register an LLC or become an individual entrepreneur quickly, profitably, and without any problems.

Why open an LLC to start a business?

Registration of firms in Ukraine is possible in several organizational and legal forms. In particular, these can be private and public joint-stock companies, a production cooperative, a limited partnership, and others. However, if you want to start a business, it is best to register an LLC. The advantages of such an organizational and legal form are as follows:

• The founders’ liability is limited only by the company’s authorized capital, which significantly reduces the risks.
• LLC is not responsible for the obligations of the participants of the organization.
• If you plan to open this type of company, you can specify any number of participants. There are no restrictions on the number of members of an LLC.
• When registering a company in the form of an LLC, it is possible to conclude a corporate agreement. The document is completely confidential, and the information in it is not subject to disclosure.
• It is allowed to issue irrevocable power of attorney on corporate rights.

In addition, registering an enterprise in the legal form of an LLC is quite simple and fast. Thanks to this, it is possible to start a business in the shortest possible time, without a long wait for decisions from regulatory authorities.

What do you need to open a limited liability company?

Registering a business in the legal form of an LLC has some features. In accordance with applicable law, to open a limited liability company, you will need:

• Name of LLC. Before you open a company, you need to choose its name. It must be checked since a non-unique name cannot be used.
• Legal address. It is entered into the registers, and all correspondence sent by regulatory authorities is sent to the legal address. Often, the address of the organization’s office is used as the legal address.
• Codes of the classifier of types of economic activity. When registering, you must select the KVED codes (classifier of types of economic activity) – they indicate the types of activities the company will be engaged in. You can specify either one code or several, depending on how many types of activities are planned for the LLC.

You also need to choose a taxation system. There are two taxation systems in Ukraine – general (OSN) and simplified (USN). The simplified taxation system, in turn, is divided into four groups. This includes the single tax, as well as the single agricultural tax. To apply the simplified taxation system, certain requirements must be met. Only the general system can be used without any restrictions. When registering an LLC, it is necessary to specify the taxation system. Otherwise, the general taxation system will be automatically applied to your company.

All this information must be prepared before the start of the registration procedure. This data will need to be included in the application you submit to form a limited liability company.

What documents are required to register an LLC?

Before you register a company, you need to prepare a package of documents. It must be ready before contacting the regulatory authorities — if some papers are not ready yet, you will be denied registration. The package of documents for the establishment of a limited liability company includes:

• Application in the prescribed form;
• Scanned copies of the passport and TIN. If there are several participants in the LLC, you must provide scanned copies of the documents of each person who will be part of the limited liability company (for founders who are individuals);
• Scanned copies of an extract from the Unified State Register (for founders who are individuals);
• Scanned copies of constituent documents of a legal entity, allowing to confirm its registration abroad (if the list of founders includes legal entities registered in foreign countries and being non-residents).
• Scanned copies of the passport and TIN of the persons who will be appointed to the position of directors.

All of these documents are submitted to the territorial department of the State Fiscal Service. After making a positive decision on your application, you need to register with the Pension Fund, open a bank account, and connect to the electronic reporting system. If the State Fiscal Service refuses to register a company, it must provide a reasoned response and indicate a clear reason. If any mistake is made, you can correct it and re-submit documents for registration.

Features of registration of sole proprietorship in Ukraine.

Registration of sole proprietorship in Ukraine has similarities with establishing an LLC or legal entities, but there are nuances here. First of all, it is important to understand that this type of company is often registered for small businesses, less often for medium ones. Therefore, for example, the choice of taxation system here has its own specifics. If for an LLC this is a general taxation system, as a rule, then for a sole proprietorship, the simplified taxation system is more often used, in particular, a single tax (group III).

As for the codes of the classifier of types of economic activity (KVED), the individual entrepreneur must also indicate them in the application. The number is not limited, but it is possible to apply a preferential taxation system only for the main type of activity — the rest are considered additional.

Only an individual can act as a founder of a sole proprietorship, and there can be only one founder. As for the legal address, as a rule, the registration address is used for this. However, there is an important nuance here. The sole proprietorship can be opened only at the place of registration! If you live in another city and want to become an individual entrepreneur, you can indicate the address of a rented apartment, but on the condition that you are registered in it. If the address of residence changes, this must be notified to the regulatory authorities.

The Kolt legal company offers clients the registration of sole proprietorship, LLC, and legal entities in other organizational and legal forms. Our specialists have vast experience in establishing such companies. We will perform all the necessary steps for registration — we provide advice, prepare documents for opening an organization, and take over the interaction with regulatory authorities. Kolt will complete the registration of a company in any legal form as quickly as possible.