What to do to quickly close the business in Ukraine
Ukraine, as one of the largest countries in Europe, with over 40 million citizens, has been and is potentially attractive for business. Some western companies, especially last ten years, have opened in Ukraine many joint companies or subsidiaries. Some business was fine, someone had not suspected result. As a result, foreign investors had liabilities: a company in Ukraine, that has no income, but which must be maintained by periodic injections of the maintenance staff let the minimum, the payment of the office, bookkeeping and filing reports to the tax authorities of Ukraine. When the foreign investor tries to close his company in Ukraine, he is often faced with legal and bureaucratic complexities, which makes the process and procedures of closing the business in Ukraine long and often very expensive.
Given all the above, the sales procedure of corporate rights in subsidiaries and associated companies in Ukraine is growing in popularity among foreign investors started. Selling such corporate rights and changing the head in such company, the foreign investors actually fully gets rid of his subsidiary or associated company. It is no need to carry of any financial or any other costs. You may concentrate on the main work.
Of course, the sales procedure of corporate rights and changing the head require some effort and knowledge. That’s why it is good for the foreign investor to have the trustee – the lawyer in Ukraine, who can be delegated the necessary powers and authority to the alienation of corporate rights. Having a power of attorney from a foreign investor such lawyer will do all necessary actions and operations, and then he will forward all necessary documents to the foreign investor. In this case, the foreign investor does not need to send his employees to Ukraine that will also save considerable sums on flights and other related costs.
Also the Ukrainian lawyer may close and limit all “open” circuit operation and agreements between the foreign investor and his subsidiaries or associated companies, settle the issues with the transfer of intellectual or other property, if there is such property in subsidiaries or associated companies. In any case, the help of a local lawyer in settlement of all matters will save time, money and effort, which is very important in business today.
Author: Kydalov Igor
Submit your review
Me and my old friend had a very successful business, but due to some circumstances it has fallen apart a few months ago. We had to close it, I think it might be very difficult, if you don't have a good lawyer.
Перевод: Я и мой друг имели очень успешный бизнес, но из-за некоторых обстоятельств он распался несколько месяцев назад. Мы должны были закрыть его, я думаю может быть очень сложно, если вы не имеете хорошего юриста.
We established our affiliate company in Ukraine 5 years ago but we didn't work. But we were paying around 800 U.S. dollars every year for reports and for minimum taxes. This law firm made 'fast liquidation' of our affiliate company during 3 weeks with small fee.