You can expect from a serious local accounting firm to perform the following tasks:

– take over the accounting work-flows of a freshly registered or already operating Ukrainian company or a private entrepreneurship;
– calculate the taxes and submit the respective reports to the local tax and social security authorities;
– pay the taxes through the online banking program of your company;
– prepare the audit reports according to the Ukrainian Accounting Standards (UAS).

An international accounting firm would be able to perform the following tasks (in addition to those of a local firm):

– monthly inner-corporate reporting to the parent company;
– “translation” of the UAS into IFRS and/or US GAAP.

We at Lobusch Consulting are an international accounting and auditing firm. You would choose us if you need a complex approach to all legal, tax and accounting matters of your company. In case you need an urgent intervention associated with the management and accounting of your Ukrainian company please be sure to contact us immediately.

See our offer on accounting and payroll in Ukraine

Please ask us for advice before taking any action. You can do it here, right after this post. We are always happy to help.

Sincerely yours,
Alexei Sandakov
CEO, Lobusch Consulting
www.lobusch-consulting.com

Lobusch Consulting is a German/Ukrainian professional outsourcing company providing advisory and accompanying services to those entering or preparing to enter the Ukrainian market. Legal, accounting, staffing and reporting services are rendered all in one office. We will assist you during the first steps in the Ukrainian commerce so your company reaches safely the state of a stable and successful undertaking.

Please ask us for advice before taking any action. We are always happy to help.

Sincerely yours,
Lobusch Consulting
www.lobusch-consulting.com

There is no obligation for constituent documents or charter capital. Individuals practicing private entrepreneurship have the right to work without a company seal, do not have to open a bank account. Financial statements are very simple and are submitted quarterly with the tax authorities, which can be very well made without any help of an accountant.

One of the main benefits of the private entrepreneurship is the ability to carry out activities under the simplified taxation system. With this tax system there is a limit of 500 000 Ukrainian Hryvnia, and the maximum number of employees is up to 10.

The procedure for registration of the private entrepreneurship is much faster than that of a legal entity (such as the LLC). Registration is carried out at the place of residence.

This legal form DOES NOT allow non-Ukrainians obtain the Ukrainian Work Permit.

Should you choose to register your Ukrainian Private Entrepreneurship, push this button:

Register your Ukrainian Private Etnrepreneurship

Please ask us for advice before taking any action. You can do it here, right after this post. We are always happy to help.

Sincerely yours,
Alexei Sandakov
CEO, Lobusch Consulting
www.lobusch-consulting.com

Should you choose to set up a Ukrainian LLC of your own, push the button below and proceed to the online company registration form. You will get a free consultation upon submitting your data.

This article handles the registration process of a Ukrainian Limited Liability Company as a  subsidiary (daughter) company of your non-Ukrainian legal entity. Please visit our website for the company formation on-line procedure.

Step 0. the preparation

you should use the best of your imagination to come up with the name of the future company and the best of your research to decide if you really need this. We insist on a in-depth research of the market that you are going to run in and legal environment of your undertaking in Ukraine, in particular taxation, corporate law and customs aspects. Trust us, we’ve seen companies simply left alone as a result of a poor preparation. If you fail to prepare, prepare to fail. As sad as true.

Step 1. Start with a name!

You provide a name for the future company, we check on its availability. If available, we’ll ask for scans of documents on the shareholder (passport in case of individuals, trade registrar excerpt in case of a legal entity) and his/its address.

Step 2. the power of attorney and the resolution

One or our lawyers drafts and emails the Power of Attorney and the Resolution Minutes on Founding a Legal Entity, in case of incorporated shareholders,  to you with instructions on legalization, you sent it back to us by any courier service to Kyiv.

Step 3. the notary actions

We set up your company using the Power of Attorney within a fortnight. The result will be delivering all corporate docs and an operative bank account if needed.

Voilá! Your company is ready to start working!

Please ask us for advice before taking any action. You can do it here, it this blog right after this post. We are always happy to help.

Sincerely yours,
Alexei Sandakov
CEO, Lobusch Consulting
www.lobusch-consulting.com

Should you choose to set up a Ukrainian Representative Office of your own, push the button below and proceed to the online company registration form. You will get a free consultation upon submitting your data. And yes, it is FREE.

During the registration process of Representative Offices in Ukraine we’ve been asked the following question by our clients :

- If the Ukrainian Representative Office is not having a status of an own legal entity, how can it then enter into agreements in its own name: working agreements? rent agreements? open bank accounts etc.?

We have answered the question commonly with the following:

-IN GENERAL: The legal form of a Representative Office is commonly used by non-Ukrainian companies for carrying out marketing, promotional and other auxiliary and preparatory activities on their behalf. Legally spoken, a Representative Office is an affiliate (a part) of the non- Ukrainian company. However, considering operational activities, it is handled by the Ukrainian executives practically as a separate legal entity. It pays taxes on profit and added value like any other company in Ukraine.

ADVANTAGES

LIMITED LIABILITY COMPANY:
a) The state registration fee is much lower than that of representative office;
b) Larger scope of activities is allowed to carry out simultaneously;
c) LLC registration is to a certain extent adjusted in practice;
d) Ukrainians prefer dealing with legal entities registered under the laws of Ukraine rather than with the questionable RepOffices;
e) The liability of the parent company is normally excluded.

REPRESENTATIVE OFFICE:

a) Less notary actions;
b) Charter capital is not required;
c) Work permits for employees without Ukrainian citizenship are not required. Non-Ukrainians are still required to apply for the temporary residency permit.

DISADVANTAGES

LIMITED LIABILITY COMPANY:
a) Recent VAT legislation is a hurdle;
b) Work permits for employees without Ukrainian citizenship are required. This is a subject to essential amount of paperwork and additional legal fee for carrying out the registration with the State Employment Centre on an annual basis.

REPRESENTATIVE OFFICE:
a) Registration with the Ministry of Economics is comparatively expensive (2.500,- US dollars);
b) The duration of the registration with the Ministry of Economics, Social and Tax Authorities takes up to two months;
c) A rather narrow scope of activities declared prior to the registration is allowed to carry out;
f) Parent company is fully liable for the activities of its representatives in Ukraine (Please get legally advised on this!).

CHECK HOW a UKRAINIAN COMPANY is REGISTERED

Please ask us for advice before taking any action. We are always happy to help.

Sincerely yours,
Alexei Sandakov
CEO, Lobusch Consulting
www.lobusch-consulting.com