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