Registering the pharmaceutical company for foreigner in Ukraine

Starting a new business in Ukraine appeals to foreigners, as it provides a real opportunity for significant profits from trade at the pharmaceutical market. This niche of the market shows permanently existent and growing demand for different medical drugs along with various supplements and accompanying personal care products. Nowadays, Ukrainian cities in different corners of the country provide all the prospective ways to develop a successful business when all the organizational and legal issues will be solved.

After deciding to run an own company for selling medical products in Ukraine, in the most cases, the foreign entrepreneur faces a number of questions. The dilemma list includes such important points as process of the registration for his/her new company, obtaining necessary licenses to import various medical products into Ukraine, and getting appropriate documents for the legalization of selling pharmaceutical goods to private medical organizations, chemists shops and drugstores, large retail companies and so on. Among the initial questions for businessman will be the following ones:

– Which documents are required for the foreigner in Ukraine, so he/she will be able to register a new business in the country? Prior to actual start of the company registration with the primary focus on retail and wholesales of the medical and accompanying products to Ukrainian consumers the future owner will have to find out about all possible complications that may take a place. First of all, foreigner must prove that he/she has already accomplished the procedure of personal registration in Ukraine, including the place of residence and obtaining an individual tax number to meet all the legal purposes. In such a way, receiving these documents is essential for the further turning from a private person into the one that carries out business activities. For document finalization a person should fill a special registration form for starting a new business, as well as to provide a copy of the confirmation for individual tax number along with relevant receipt to prove that relevant commission was already paid. Besides, all the necessary documents for registering the new pharmaceutical business must be provided by a foreign citizen in person or via accredited lawyer. If the second one is the case, then the lawyer should be authorized by the letter of attorney from applicant that looks to be granted the business permission. In order to help more, it is recommended to the foreign entrepreneur in Ukraine to choose one of such effective forms for the business registration, such as registration of the conventional person, or limited liability company.

– What is the process of actual obtaining the license for importing of medical good into Ukraine?
Nowadays, importing a wide range of medical products and various goods for the health care purposes into Ukraine requires from the importer to hold specific legal permits and relevant documents up to date. The list of the allowing documents and permissions is rather long and presumes that each and every pharma product should possess an unique certifying confirmation. In other words, the company owner must apply for these documents to the producer of different medical drugs, which can be located in any countries of the world. To import pharma goods into Ukraine a person must have unique permissions and valid quality certificates from the producing companies, as well as accompanying documentation from legal bodies which grant the right of trading for one or another kind of the imported drugs. Moreover, it is important to mention that quality certificates from the producers of medical products should be supplied without any relation to the county-origin of each product. Current Ukrainian legal regulations are prohibiting to sell or/and buy any kinds of medical drugs without providing relevant legal documentation and quality certificates. Once it is proven, the trading processes can be run in a smooth manner, whether it will apply to retail or wholesale actions. In addition, the license to perform an actual trading in the form of pharmaceutical business is also needed. Despite the necessity of getting so many documents the positive side of the situation appears when all legal papers are eventually obtained. For example, the license for importing medical goods and relevant permission for trading allows to sell medicals in all parts of Ukraine and without any further limitations.

– What pharmaceutical drugs and health care products are allowed for selling in Ukraine? Which additional permits and allowances will be needed for trading processes with public institutions and private organizations? According to the valid Ukrainian legislation, all trading processes within the market of pharmaceutical goods must be performed via specialized pharmaceutical companies with appropriate permissions and rights for running one or more chemists shops, private medical stores and other departments. Any type of commercial activities will be impossible without having up-to-date trading licenses from officials in Ukraine, along with all the rest of required by laws documents. As for the different branch of the pharmacy trade, such as sales of psychedelic and narcotic products and any types of related activities , it is obligatory to provide a valid license granted for specific purposes. While applying for such type of the license, a foreign national must obtain documents to confirm sufficient financial and relevant assets, staff with high qualification, as both are necessary for establishing trading operations at the pharmaceutical market, when planning for the retail and wholesale operations of different kinds of medical products and accompanying goods, such as personal and health care goods, hygienic and dietary supplements and so on. Following the route, it will also be essential to apply with unique tax number of the foreign individual.
Package of documents should be submitted to the Governmental Service of Ukraine that responds for certification and verification of trading operations with medical goods within the country.
Except prescription medicine and products that do not require prescription optics, detergents, repellents, all types of dietary, pediatric and healing nutrition products, cosmetical and treatment goods, such as natural soaps and shampoos, shaving foams and creams, mouth wash liquids, various accessories for personal health care (elixirs, creams, bath salts, lotions), can be also sold.

– Where is the best place to get a detailed and professional advice?

While organizing the whole set of documents for starting a pharmaceutical business on a legal base in Ukraine, prevailing part of foreign citizen are better to search for an appropriate advice from qualified lawyer with actual specialization in Ukrainian law and regulations for the foreign businesses. It is significant to specify the point, as otherwise a financial loss can exceed expectations of any foreign individual and put under the risk his/her idea of successful start of business. Therefore, if a person abides the laws both efficient business growth and development within the nearest time will b ensured for him/her.

Author: Kydalov Igor

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