Types of cpmpanies in Ukraine
Starting entrepreneurial activity, first of all, you need to think about the choice of the organizational and legal form of conducting business. Thus, the most common forms are considered to be a private entrepreneur (PE) or a limited liability company (LLC). However, the legislation of Ukraine also provides for other forms of entrepreneurship:
- Joint stock company;
- complete society;
- limited partnership;
- additional liability company – enterprises in which the participants are fully and/or partially (depending on the company type) liable with their own property for the company debts;
- consumer society – a long-standing type of legal entity, but not clearly regulated by law.
Authorized capital (fund) of companies
The legislation of Ukraine does not establish a minimum authorized capital for companies. Therefore, before registering an enterprise, it is necessary to calculate the costs of maintaining the company, including the payment of wages, taxes, etc. to the exit of the enterprise business activities to the break-even point.
Participants of an LLC are liable for the company liabilities within their contributions to the authorized capital of the company. At the same time, when registering other forms of enterprise organization, there is a need to be liable with personal property for the company liabilities, as, for example, when registering an ALC or a full society. The authorized capital must be fully formed within a year after the company establishment.
Documents required for company registration
So, to register a private entrepreneur, you just need to apply to the registration authority, namely, to the ASCU, with the relevant application. After registration, you can register at a simplified taxation form by submitting the application to the tax office.
The state registration of an LLC can be carried out both directly through the ASCU and remotely via the Internet.
You can register an LLC without leaving your home through the Unified Portal of State Services “Diia” at the link, spending no more than 30 minutes on the entire procedure.
The online service will provide online registration of an LLC with the possibility of generating the necessary version of the model articles of association by selecting the appropriate items or using the default version.
At the same time, you can apply for a simplified taxation system and registration as a value added tax (VAT) payer.
To register an LLC, you will need:
- application for state registration of LLC in Ukraine;
- constituent document of a legal entity – in the case of creation of a legal entity on the basis of its own constituent document;
- resolution or minutes of the constituent meeting on the establishment of a legal entity.
The law does not provide for an administrative fee when registering a company, but there is a fee for making changes to the statements in the register. This means that it is necessary to carefully check the data provided during the company registration in order not to spend additional money on such changes.
After registering an LLC, it is necessary to order the seal, register with the statistics and tax authorities. Next, you need to open a bank account.
Registration does not require significant efforts from the entrepreneur, because this process occurs automatically without the entrepreneur’s participation. After receiving information from the authorities of the State Fiscal Service, the Pension Fund and Statistics on the registration of an entrepreneur, the state registrar generates an extract from the Unified State Register.