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Henceforth, it is easier to register a business

Since November, it is easier and cheaper to register a new business in Ukraine. According to the legislative innovations, there is no more need to pay a registration fee for creating a legal entity (170 UAH) or for the registration of an individual entrepreneur (34 UAH).

The amounts seem to be small. Nevertheless, i.a. now there is no need to go to the bank once again. Thus, earlier Ukrainian legislation required not only to pay the fee but also to confirm its payment by a bank receipt. This made impossible to pay the fee, for example, by means of electronic payment.

However, it is still obligatory to pay the registration fee for changing the registration documents. In particular, the registration fee for changing the address of the individual entrepreneur amounts to 17 UAH, and the registration fee for changing the constituent documents of the legal entities amounts to 51 UAH.

Legislative innovations also canceled the obligatory presence of the seal for entrepreneurs or companies. From now on, you can determine the necessity of having a seal at your discretion. What's interesting, at first, Ukrainian legislature wanted to establish the obligatory use of the seal only in case of its presence, but in the final result, such a norm was abandoned. Legislators decided that it would be unclear how the counterparty could know exactly whether his partner has a seal or not. Now, the business entity, at its discretion, can either have a seal or not. Nevertheless, provided the presence of the seal, it is binding only for the parties to the contract, but not for the third parties.

At the same time, in the present conditions of general mistrust, clients still prefer to ensure themselves by usage of the documents certified by the seal. On the other hand, it is obvious that it will be more difficult for the attorneys-at-law in commercial matters to prove to the court the authenticity of the document, certified by a simple signature without the seal. That is, the negative side of the legislative innovations is an occurrence of the fraud risks regarding usage of the documents with forged signatures. Consequently, we can expect an increase in the number of such cases in the courts.

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