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Registration of company with foreign founders

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Lion's Mark Law Company provides the services of registration of a company with foreign founders in Ukraine.

Legislation details

Foreign citizens who stay in Ukraine on legal grounds have the same rights as Ukrainian citizens (except the vote right). That's why they can register their own legal entity as the founders of this legal entity without any need in Ukrainian partner.

In Ukraine, according to practice, the most popular and prevailing types of legal entities are Private Enterprise (PE) and Limited Liability Company (LLC or TOV). The difference between them is the number of founders: 1 founder for PE, 2 and more founders for LLC.

Pros and cons

Depending on the purposes of such company, there are pros and cons for registration of LLC or PE in Ukraine.

Pros:

• Foreign citizens have equal amount of rights to be the founders of legal entities in Ukraine;
  
• Low price & no requirements for minimum authorized capital: it shall be set by founders and paid within 1 year after registration;
  
• Registration lead time: 3 working days from the moment of submission of complete set of documents;
  

Cons:

• Work permit: this is an obligatory requirement for official job placement of foreign citizen in Ukraine. State fee for work permit is 4 minimum salaries and it has to be renewed annually.
  

If your activities require many foreign employees we propose you an option to register a foreign representative office so you’ll simply have to obtain a foreign employee service card��for the purposes of job placement of foreign citizens.

Documents required to register a legal entity with foreign founder:

• Passport document (copy + with notarized translation)
  
• Power of Attorney (PoA)
  
• Ukrainian ID (Taxpayer ID card)
• Registered Office address lease contract
• Articles of Association (2 notarized copies)

We’ll help to prepare all the required documents in Ukraine.
Note: if POA is executed abroad it shall be legalized to have a legal power in Ukraine (procedure of Apostille or Consular legalization).

The services of registration of legal entity with foreign founder include:

1. Counseling on registration procedure;
   
2. Assistance in obtaining the PoA, ID, contracting the lease agreement etc.;
   
3. Preparation and/or notarization of required documents;
   
4. Submission of complete set of documents to the State Registrar Office;
   
5. Obtaining the Extract from USR confirming the fact of LLC or PE registration;
   
6. Ordering the seal (if needed).

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