Registration procedure for foreign representative offices is now simplified in Ukraine

The Decree No 893 as of 23 October 2019 “Certain Registration Issues of Representative Offices of Foreign Business Entities in Ukraine” has significantly simplified registration procedure of foreign representative offices in Ukraine.

Key changes to expect

The cost for registration has now been REDUCED from 2 500 US dollars to one minimum living wage for able-bodied persons (totaling to UAH 1921 in 2019). Besides, the registration term has been reduced from 60 to 20 working days. In case the documents for registration are submitted by the foreign business entities, being the residents of the State-Aggressor, the registration term shall be sixty working days at the cost of 30 minimum living wages (UAH 57 630 in 2019).

Positive trends

There are all grounds to believe that the October Decree would significantly facilitate the setting up of representative offices in Ukraine for the foreign companies. This is also a notable step forward towards elimination of barriers for the foreign investments.

“We are simplifying the registration procedure for the representative offices of the business entities in Ukraine. The elimination of barriers for the foreign investments is a fundamental basis for economic development. I am convinced that these changes would lay favorable groundwork for the presence of foreign companies in Ukraine, increase investments to our economy and accelerate business activity”.