5 Weeks to Disclose Legal Entity’s Ownership Structure (till 11 October 2021)

We would like to remind you that all legal entities incorporated in Ukraine must submit their ownership structures to the state registrar by 11 October 2021 in compliance with new requirements.

You can read more about the new requirements in our previous publication.

Please keep in mind that the failure to submit or delayed submission to the state registrar of the legal entity’s UBO details or relevant documents may result in certain limitations of the company’s business activity (including by the banks) and the penalty imposed on the company’s director and amounting to UAH 17,000 – 51,000 (approximately EUR 510 -1,530).

In our practice, the whole process of documents preparation and registration of the foreign ownership structures with the state registrar may take around 1 – 4 weeks depending on the complexity of the ownership structure and speed of legalization of the confirming documents.