Ukraine remains open to foreign investment – even during wartime. Despite the full-scale war that began in February 2022, thousands of foreign-owned companies continue to operate in Ukraine, and new businesses are being registered on a regular basis.
According to the State Statistics Service of Ukraine, foreign direct investment has continued to flow into multiple sectors: IT, agriculture, manufacturing, logistics and professional services. Ukraine’s strategic location, educated workforce, competitive labour costs and EU integration path make it an attractive destination for international entrepreneurs and investors.
If you are considering registering a company in Ukraine as a foreigner, this step-by-step guide covers everything you need to know: legal framework, types of legal entities, required documents, registration procedure, director formalization options, timeline and practical recommendations from our law firm’s experience.
Can a Foreigner Register a Company in Ukraine?
Yes, foreign nationals and foreign legal entities have the right to establish and own companies in Ukraine on equal terms with Ukrainian residents. A foreigner can be the sole founder and 100% owner of a Ukrainian company.
The legal basis for this is:
- Article 114 of the Civil Code of Ukraine – which grants the right to participate in business entities regardless of nationality;
- Articles 7-12 of the Law of Ukraine «On the Regime of Foreign Investment» dated 19.03.1996 № 93/96-VR – which guarantees equal rights for foreign investors;
- Article 5 of the Law of Ukraine «On Foreign Economic Activity» dated 16.04.1991 № 959-XII – which permits foreign entities to conduct business in Ukraine.
Step 1. Choose the Right Legal Entity
Limited Liability Company (LLC) – «ТОВ» in Ukrainian
The most popular and recommended form for foreign investors.
An LLC is a private company in which investors participate through the ownership of participation interests. A participation interest is expressed in UAH and additionally as a percentage of the company’s total equity (the so-called charter capital). A Ukrainian LLC is substantially the equivalent of a private limited company in the UK. It operates based on a charter — the Ukrainian equivalent of articles of association.
Key features:
- can be incorporated by one or more individuals or legal entities;
- can be entirely owned by foreign investors;
- minimum share capital – not established by law (the founders decide the amount);
- liability of participants is limited to their contribution to the share capital;
- flexible management structure – defined by the company’s charter;
- governed by the Law of Ukraine «On Limited and Additional Liability Companies» dated 06.02.2018 № 2275-VIII;
- state registration takes 1–3 business days.
Private Joint-Stock Company (PrJSC) – «ПрАТ» in Ukrainian
Suitable for larger businesses with multiple shareholders or those planning to attract external investment. Has a more complex corporate structure, mandatory supervisory board requirements and stricter disclosure obligations. Governed by the Law of Ukraine «On Joint-Stock Companies» dated 27.07.2022 № 2465-IX.
Representative Office or Branch
If a foreign company wishes to operate in Ukraine without establishing a separate legal entity, it may open a representative office or branch. Important: a representative office cannot conduct commercial activities and generate profit in Ukraine – it is typically used for marketing, research or coordination purposes only.
For most foreign investors, we recommend an LLC as the most flexible, cost-effective and straightforward option.
Step 2. Choose a Company Name
Requirements under Ukrainian law:
- the name must be in Ukrainian language;
- it must not duplicate the names of already registered companies (check the Unified State Register at usr.minjust.gov.ua);
- the full name must include the legal form: e.g. «Limited Liability Company «ABC Ukraine»»;
- an English-language name may be registered alongside the Ukrainian one – particularly useful for companies with foreign founders.
The following information must be decided before registration:
- full and short name of the LLC in Ukrainian and any other foreign language of your choice;
- registered address in Kyiv or another Ukrainian city;
- anticipated types of business activities (up to 5–7 KVED codes);
- amount of the charter capital and participation interests of each founder.
Step 3. Prepare the Required Documents
Documents to be obtained outside Ukraine (by the foreign founder):
All of the following must be duly notarized and apostilled in the country of origin, and subsequently translated into Ukrainian with notarial certification in Ukraine:
For a foreign individual founder:
- Passport – a valid foreign passport with a notarized Ukrainian translation;
- Ukrainian Tax Identification Number (TIN / RNOCPP) – mandatory for all foreign individuals who act as founders or directors of Ukrainian companies. Obtained from the State Tax Service of Ukraine (see Step 4 below);
- Power of attorney issued to Ukrainian lawyers to carry out all registration formalities on your behalf.
For a foreign legal entity founder:
- Extract from the trade (commercial) register of the country of incorporation – confirming the company’s legal existence, shareholders, directors, authorized capital and registered address;
- Charter (articles of association) of the foreign parent company;
- Resolution of the authorized body of the foreign parent company on the establishment of the Ukrainian subsidiary;
- Ownership structure of the parent company;
- Power of attorney issued by the parent company to Ukrainian lawyers to carry out registration formalities;
- Passport and TIN of the individual who will act as director of the Ukrainian company.
Documents prepared by Ukrainian lawyers:
- Charter of the Ukrainian LLC – bilingual (Ukrainian–English). This is the key founding document. It must be carefully drafted to reflect the management structure, powers of the director, decision-making procedures and anti-raider protective provisions;
- Resolution of the founder(s) on the establishment of the LLC – bilingual (Ukrainian–English);
- Application for state registration;
- Ownership structure of the new Ukrainian LLC.
Step 4. Obtain a Ukrainian Tax Identification Number (TIN)
A Ukrainian TIN (RNOCPP) is mandatory for all foreign individuals who act as founders or directors of a Ukrainian company. If you already have a Ukrainian TIN, this step is skipped.
Documents required for TIN application:
- Power of attorney – notarially certified and apostilled;
- Copy of passport – notarially certified and apostilled;
- Application indicating: full name, date and place of birth, registered and factual residence address, citizenship, tax number in the country of citizenship, passport data.
Timeline: obtaining a Ukrainian TIN takes 3–5 business days after the power of attorney and passport copy are translated into Ukrainian and certified.
This step can be completed remotely through a power of attorney – no visit to Ukraine is required.
Step 5. Notarize the Documents and Register the Company
After all documents are prepared, the Ukrainian lawyer files them with a private notary who also performs state registration functions.
Registration timeline: 3–4 business days after all documents are fully prepared and verified.
Upon successful registration, the information submitted to the notary is automatically exchanged with:
- the Ministry of Justice of Ukraine;
- the State Tax Service of Ukraine;
- the State Statistics Service of Ukraine;
- the Pension Fund of Ukraine.
No direct interaction by the client or its lawyers with these authorities is required for primary registration.
The company receives:
- an Extract from the Unified State Register – the main document confirming legal existence;
- a EDRPOU code (8-digit company identification number).
Step 6. Formalize Relations with the Director
In the course of setting up an LLC, a director must be appointed. There are currently two options for formalizing relations with the director:
Option 1 – Employment Agreement (Labour Law)
A foreigner can be employed as a director only after state registration of the LLC. To employ a foreign director, the following documents must be obtained:
- Ukrainian Tax Identification Number;
- Work permit – issued by the State Employment Service (legal services for obtaining a work permit are provided separately);
- D-type visa (if a temporary residence permit is required);
- Temporary residence permit – if the foreign director needs to stay in Ukraine longer than permitted by their visa.
Important: since a work permit can only be obtained after the LLC is incorporated, our firm can offer the services of a «nominee interim director» – a designated Ukrainian national appointed as interim director for a limited period (e.g., 1–3 months) until the work permit for the designated foreign national is obtained.
Option 2 – Service (Civil Law) Agreement
This option has been introduced relatively recently and is increasingly used in practice. Under a civil law agreement, no work permit is required, and a designated foreign national can be appointed as director at the time of company incorporation.
This option is suitable for a foreign director who:
- will not stay in Ukraine for more than 90 days within a 180-day period;
- can travel to Ukraine visa-free.
Important: if the director needs a visa to travel to Ukraine, or plans to permanently reside in Ukraine, they will need to obtain a work permit, temporary residence permit and conclude an employment agreement.
Recommendation: discuss both options with your lawyer before incorporation to choose the most suitable structure for your situation.
Step 7. Register as a VAT Taxpayer (if applicable)
VAT registration can be completed during or after state registration of the LLC.
Key points:
- VAT registration is mandatory if annual turnover exceeds UAH 1 million;
- voluntary registration is available at any time;
- if the LLC will not carry out economic activity for approximately 6 months after incorporation, VAT registration is not recommended — accounting becomes more complex and expensive;
- VAT rate in Ukraine: 20%.
Effective date of VAT registration:
- from the first day of the next month – if the application is submitted at least 10 days before the end of the current month;
- from the first day of the following month – if the application is submitted during the last 10 days of the current month.
Step 8. Arrange a Registered Office Address in Ukraine
The Ukrainian LLC must have a registered office address in Ukraine. There are two options:
Option 1 – Own or leased office premises. At registration, the LLC already has its own or leased office, which is indicated as the registered address. This is the preferred long-term option.
Option 2 – Legal address service. Our firm can provide a temporary legal address for the LLC’s registered address at incorporation. This is a temporary measure – the LLC will need to update its registered address once permanent office premises are found.
Step 9. Open a Corporate Bank Account
After state registration, the company must open a corporate bank account with a Ukrainian bank.
Documents typically required by the bank:
- extract from the Unified State Register;
- charter of the company;
- passport and TIN of the director;
- specimen signatures card;
- questionnaire and account opening application.
Note: some Ukrainian banks require the physical presence of the director to open a corporate account. Remote account opening is available at some banks — confirm this with your lawyer in advance.
Timeline: approximately 2 weeks after state registration.
Recommended Ukrainian banks for foreign-owned companies: PUMB, Raiffeisen Bank Ukraine, OTP Bank, Ukrsibbank (BNP Paribas Group), monobank Business.
Step 10. Subsequent Steps After Registration
After the company is registered, the following steps are recommended:
a) Select an accounting firm or hire an accountant – to keep books and records, prepare and file financial and tax reports. This is a legal obligation for all Ukrainian companies.
b) Obtain a Qualified Electronic Signature (QES) for the director – to enable signing of documents in electronic format, which is widely used in Ukraine for tax reporting, banking and government interactions.
c) Register trademarks – Ukraine operates on a first-to-file principle. Register your brand with the Ukrainian National Office of Intellectual Property (UKRNOIVI) from day one to prevent competitors from registering similar marks.
d) Draft internal corporate documents – internal regulations on the signing of contracts, NDA agreements with key employees, and anti-raider protective provisions in the charter.
Registration Timeline: Summary
| Stage | Timeline |
|---|---|
| Preparation and apostilling of documents outside Ukraine | 1–3 weeks |
| Obtaining Ukrainian TIN for foreign founder/director | 3–5 business days |
| Preparation of founding documents by Ukrainian lawyers | 5–10 business days |
| Notarization and state registration | 3–4 business days |
| VAT registration (if applicable) | 5–10 business days |
| Bank account opening | Approximately 1-2 weeks |
| Total (full process) | Approximately 4–8 weeks |
Can I Register a Cоmpany in Ukraine Remotely?
Yes – and this is a common practice. The entire registration process can be completed without visiting Ukraine through a power of attorney issued to Ukrainian lawyers.
The power of attorney must be:
- notarized in the country where the foreign founder resides;
- apostilled;
- translated into Ukrainian with a notarized translation.
Our firm regularly handles remote company registrations for foreign clients from the EU, USA, UK, Israel, UAE and other countries. All consultations and communications are available in English via Zoom or Telegram.
Key Practical Recommendations
1. Draft the charter carefully — it is your main protection tool. A standard template charter provides minimal legal protection. Your charter should include: limitations on the director’s authority to conclude major transactions, dual-signature requirements, restrictions on share transfer to third parties and other anti-raider provisions. Read more: [Anti-Raider Protection: 7 Safeguards in the Company Charter].
2. Choose the right director formalization option before incorporation. The choice between an employment agreement and a civil law agreement has significant practical implications — including work permit requirements, visa status and the need for a nominee interim director. Discuss this with your lawyer before registration.
3. Register your trademark from day one. Ukraine operates on a first-to-file principle. Register your brand before starting operations.
4. Prepare an «emergency document package». Keep notarized copies of all key corporate documents in a secure location outside the company’s office — as protection against raider attacks or other emergencies.
5. Select an accountant before the first business transactions. Ukraine has complex tax reporting requirements. Accounting must be set up from day one to avoid penalties.
Frequently Asked Questions
How long does company registration in Ukraine take for a foreigner? State registration takes 1–3 business days. The full process — including document preparation, apostilling, TIN obtainment and notarization — takes approximately 4–8 weeks depending on the readiness of the founder’s documents.
Can I register a company in Ukraine without visiting Kyiv? Yes. The entire process can be completed remotely through a power of attorney issued to a Ukrainian lawyer. Our firm regularly handles remote registrations for foreign clients.
What is the minimum share capital for an LLC in Ukraine? There is no minimum share capital requirement for an LLC in Ukraine under the Law «On Limited and Additional Liability Companies» dated 06.02.2018 № 2275-VIII.
Can a foreigner be the sole founder and 100% owner of a Ukrainian company? Yes. There are no restrictions on 100% foreign ownership in most types of Ukrainian companies.
Does a foreign director need a work permit in Ukraine? It depends on the type of agreement. Under an employment agreement — yes, a work permit is required. Under a civil law (service) agreement — no work permit is required, provided the director does not stay in Ukraine for more than 90 days within 180 days and can travel visa-free.
Is it safe to register and operate a business in Ukraine during the war? Ukraine continues to function as a state with a working legal system, courts, banking system and business infrastructure. Many international companies continue to operate and new ones are regularly registered. Risk assessment depends on the specific region, industry and business nature. Our lawyers can advise on current risks and legal protections available to foreign investors.
Why Register Your Company in Ukraine with Lotysh & Partners
Lotysh & Partners Law Firm has been providing legal services to businesses in Ukraine since 2004 – including during COVID-19 lockdowns and throughout the period of martial law since 2022, ensuring uninterrupted legal support to our clients despite air raids and other challenging circumstances in Kyiv.
We provide full legal support for company registration in Ukraine for foreign clients:
- legal consultation on choosing the optimal legal form, director formalization option and tax regime;
- preparation of all founding documents — including a bilingual (Ukrainian–English) charter with protective provisions;
- notarization support — including full remote registration through a power of attorney;
- state registration with the Unified State Register;
- obtaining Ukrainian TIN for foreign founders and directors;
- assistance with bank account opening;
- nominee interim director services (if required);
- registered office address services;
- trademark registration support;
- ongoing legal retainer services for your Ukrainian company – in English.
All consultations and communications are available in English.
Contact Us
📞 +38 067 743-27-66 ✉️ office@lotysh.com 📍 77 Sichovykh Striltsiv Street, Office 407, Kyiv, Ukraine 🕐 Consultations available in office and online: Zoom, WhatsApp, Telegram
This article has been prepared based on the Civil Code of Ukraine, the Law of Ukraine «On Limited and Additional Liability Companies» dated 06.02.2018 № 2275-VIII, the Law of Ukraine «On Joint-Stock Companies» dated 27.07.2022 № 2465-IX, the Law of Ukraine «On the Regime of Foreign Investment» dated 19.03.1996 № 93/96-VR, the Law of Ukraine «On State Registration of Legal Entities, Individual Entrepreneurs and Public Organisations» dated 15.05.2003 № 755-IV, the Law of Ukraine «On Foreign Economic Activity» dated 16.04.1991 № 959-XII. This article is for informational purposes only and does not constitute legal advice.