Submission of Information on Beneficiaries and Ownership Structure. Beneficiaries 2021

In Ukraine, starting from July 11, 2021, the Regulation on the form and content of ownership structure came into force. This confirms that legal entities are obliged to provide or update data on the company’s ultimate beneficial owners.

However, it is important to note that this is not a simple process, as it requires both time and proper knowledge. Therefore, if you are not confident that you can independently submit information on beneficiaries and ownership structure to the registrar, do not waste valuable time - instead, seek professional assistance immediately. Our law firm will help disclose information about ultimate beneficial owners. Qualified specialists will handle the preparation of the necessary package of documents and the submission of information to the registrar. Your involvement will be minimal, allowing you to avoid bureaucratic delays and obtain the result as quickly as possible.

In connection with the Regulation coming into force, legal entities must know the following:

• all LLCs established in Ukraine before April 28, 2020, have three months (from 11.07 to 11.10) to submit accurate information to the registrar about their real owners, i.e., ultimate beneficial owners. Failure to comply will result in fines ranging from 17,000 to 51,000 UAH;

• in addition to administrative liability, criminal liability may also apply. Submitting knowingly false information may result in fines ranging from 85,000 to 136,000 UAH, arrest for three to six months, or imprisonment for up to three years;

• legal entities are obliged to ensure that information about ultimate owners and ownership structure remains up to date. If any changes occur, they must notify the registrar within 30 working days and submit supporting documents;

• since 2022, companies must confirm information about ultimate beneficial owners within two weeks of registration;

• the set of documents to be submitted to the state registrar will vary depending on the legal entity’s status (resident/non-resident).

Information on beneficiaries and ownership structure may be updated or submitted through separate registration or as part of another registration procedure.

By contacting us, you will receive a comprehensive consultation, and our specialists will provide detailed answers to all questions regarding the submission of ownership structure information. We will select the best method for registration and accompany you at every stage, including preparing a power of attorney, paying registration fees, preparing and submitting the document package to the registrar, monitoring updates, and paying administrative charges.

Disclosure of ultimate beneficial owners is aimed at minimizing the risk of money laundering. For legal entities, now is the time to meet all requirements and deadlines, thus avoiding penalties and other negative consequences.

You can contact us in Lviv, Kyiv, Ivano-Frankivsk, Ternopil, Lutsk, Dnipro, Kharkiv, and other cities.

Now is the right time to seek qualified legal assistance. Our company guarantees fast and effective support. By entrusting us, you can continue focusing on your business while we handle the entire procedure of preparing and submitting information about ultimate beneficial owners.