Are you thinking on establishing your own limited liability company alone or together with your partners? Let us consider some key aspects of registration of such type of legal entity.
Firstly, it should be mentioned that according to the legislation of Ukraine in force, starting from 01.01.2016, the registration of legal entities may be performed by notaries.
Please pay attention that the natural person is entitled to establish solely the one company only, and this should be taken into account when establishing and registering the legal entity.
One of the essential developments that facilitate the procedure of documents preparation lies in the fact that LLC may operate on the basis of the Model Articles of Association approved by the Cabinet of Ministers of Ukraine, Decree No.1182 dated 16 November 2011 “On Approving the Model Articles of Association of the Limited Liability Company”. However, you in your capacity of a founder have no right to amend the provisions of approved model articles of association.
Shall you decide to operate on the basis of such model articles of association, the decision on LLC incorporation, signed by all of the founders, is to state that the Company will operate on the basis of the Model Articles of Association. Besides, the decision shall include the following information: type of the company, name, location, subject and purposes of its activity, full list of its founders, procedure of making contributions.
In case one of the founders is a foreign citizen, such person shall translate identification documents into Ukrainian (such translation must bear the notarial certification of translator’s signature), then obtain the registration number of the taxpayer identification card (formerly called individual taxpayer number).
All LLC registration documents shall be compiled and submitted in Ukrainian.
After providing all the above documents and their checking by a notary, the amendments are registered by including the respective information in the Unified State Register of Legal Entities, Natural Persons-Entrepreneurs and Public Organisations.
Now, the limited liability company is registered. One last thing that needs to be done is to decide on the seal and opening the bank account.
The seal is made at the discretion of the legal entity managers, whereas according to the legislation of Ukraine the legal entity is not obliged to have a seal.
As to the bank account, the first step is to choose a bank, and then you must submit the bank card with the notarized authentic signature of the LLC director and its seal (if available).