Open a Limited Liability Company in Ukraine

Updated on Monday 02nd September 2013

In order to open a limited liability company in Ukraine, you should know that this type of company is based on a minimum share capital of 100 minimum salaries at the date of registration and must have at least one founder.

Every member must pay at least 30% of his contribution before registering a company in Ukraine. The bank must issue a certificate that proves the payment. No later than a year after a company registration in Ukraine, each member must pay in full his contribution; otherwise a penalty of at least 10% from the pending sum must be paid every year. The capital is divided into parts (not shares as in a usual limited liability company in Europe) and each member is liable for the company’s debts only in the limit of his contribution to the share capital.

The limited liability company’s registration is based on a company chart which contains information regarding the name and address of the company, the goals of the company, the amount of share capital and the way it’s paid, the way the incomes and debts are divided, contribution of every shareholder, the structure and the way of paying the contribution, the procedures of reorganization or liquidation of the company.

All the major decisions are taken by the participants’ assembly, which representatives are choosing a head of the assembly. The participants’ assembly is called twice a year. Extraordinary meetings may be called by the head of the company or by a specific percentage of members, in special cases such as the company’s insolvency or when the reduction if the company’s capital is requested. In order to open a limited liability company in Ukraine, you should know that this type of company is based on a minimum share capital of 100 minimum salaries at the date of registration and must have at least one founder.

Every member must pay at least 30% of his contribution before registering a company in Ukraine. The bank must issue a certificate that proves the payment. No later than a year after a company registration in Ukraine, each member must pay in full his contribution; otherwise a penalty of at least 10% from the pending sum must be paid every year. The capital is divided into parts (not shares as in a usual limited liability company in Europe) and each member is liable for the company’s debts only in the limit of his contribution to the share capital.

The limited liability company’s registration is based on a company chart which contains information regarding the name and address of the company, the goals of the company, the amount of share capital and the way it’s paid, the way the incomes and debts are divided, contribution of every shareholder, the structure and the way of paying the contribution, the procedures of reorganization or liquidation of the company.

All the major decisions are taken by the participants’ assembly, which representatives are choosing a head of the assembly. The participants’ assembly is called twice a year. Extraordinary meetings may be called by the head of the company or by a specific percentage of members, in special cases such as the company’s insolvency or when the reduction if the company’s capital is requested. The announcement regarding the general meeting must be made with at least 30 days before.

Every participant may request to discuss a problem during that meeting but must announce it at least 25 days before it. If it was not announced before, the participants may be asked to discuss it only if there is a majority of votes in favor or the discussion.

A limited liability company in Ukraine may be ruled by an executive committee that can be collegial (board of directors) or one person (one director) appointed by the participants’ assembly.

A member of the company may be excluded from it only by the majority of votes from the general meeting of the members and only in cases which have harmed the company.

The additional limited liability company is also based on a capital divided into parts, not shares and has the same management structure but unlike the limited liability company the members of it are personally liable with their own goods for the company’s debts.

Partners: Lawyers UkraineFirmengründung in UkraineРегистрация компании Украина

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Call us now at +7(495)504-12-15 to set up an appointment with our lawyers in Kiev, Ukraine. Alternatively you can incorporate your company without traveling to Ukraine.

As a Herman & Smith law firm client, you will benefit from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Ukraine.

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