Registration of financial companies

Registration of a financial institution in Ukraine consists of several stages. First of all, it is necessary to register a legal entity as a financial company, as well as obtain a license that allows you to conduct financial activities. Contact the company “Gestoria Ukraine-Plus” and our lawyers will help you open a financial company of any kind in compliance with all laws.

Registration of a financial institution

In connection with the changes made to the procedure for licensing banks and non-banking financial institutions, many entrepreneurs have a number of questions, namely:

• how to open a financial company in Ukraine;
• what documents will be needed;
• what the process of registering a financial institution entails;
• how to obtain a license when opening a financial company.

To find out the answers to the above questions and order legal services, please contact us. Our lawyers will provide professional advice and help you understand all the nuances of registering financial institutions. We will help you prepare a package of documents for obtaining a license and legalizing the activities of a financial company.

Types of financial institutions

Before proceeding with the registration of a financial company in Ukraine, it is necessary to understand which organizations fall into this category. Financial institutions include legal entities operating in such areas as:

• credit institutions providing services for granting interest-bearing loans;
• factoring companies acting as intermediaries in transactions;
• leasing companies that provide certain property for rent with a subsequent right to purchase;
• currency exchange offices;
• insurance companies providing services for various types of insurance.

There are certain requirements for opening each type of financial institution. Our lawyers are aware of all the intricacies of preparing documents and registering organizations in full compliance with the requirements of the law. To eliminate errors during the procedure, use the services of lawyers in “Gestoria Ukraine-Plus” and order a consultation with a specialist.

Requirements for a financial institution

There are a number of requirements that must be met when being included in the register of financial companies, for example:

• formed authorized capital (the amount depends on the form of the financial institution);
• specialized equipment;
• specialized software;
• availability of a manager, chief accountant and staff with experience and relevant certificates;
• availability of documents (client agreements, schemes of work, etc.).

When creating a financial company of any kind and entering it into the register, you should use the services of lawyers. Our lawyers will help the client complete the procedure as quickly as possible, at an affordable cost and in compliance with all legal requirements.

Main stages of registration

The requirements for the process of registering a financial institution depend on its form. However, there are a few general requirements, which we will now discuss.

Establishment of a legal entity

When included in the register of financial organizations, in most cases, managers use the legal form of LLC. There is an exception 一 registration of a pawnshop. In Ukraine, taking into account the requirements of the legislation, the head can register a pawnshop only in the form of a Full Company (FC). At the same time, an insurance organization can be entered in the register in the form of JSC, FC, ALC.

Authorized capital

The size of the authorized capital is determined by the type of organization being opened, for example:

• for a pawnshop it is necessary from 500,000 UAH;
• factoring will require from 3,000,000 UAH;
• for leasing you need from 3,000,000 UAH;
• for the exchanger you will need from 5,000,000 UAH.

The main requirement for the formation of the authorized capital is the use of funds, the origin of which is confirmed by the relevant documents. At the same time, all funds are deposited by the founder to a special account, where they must be kept in full until the package of documents is considered by the NBU and permission is received to provide financial services.

Preparation and submission of documents to the NBU

Before starting activities, the head must register the organization with the NBU. An appeal to the NBU should be preceded by an audit report, which confirms that the formed authorized capital complies with regulatory requirements. When submitting documents to the NBU, the company must have an appointed manager and chief accountant.

An obligatory step is also the licensing of financial organizations with the receipt of relevant documents.

Registration in the State Financial Monitoring Service

At the final stage of creating a financial company, the head should register the legal entity with the State Financial Monitoring Service. To do this, you must first appoint a specialist responsible for financial monitoring within the organization.

Lawyers of “Gestoria Ukraine-Plus” LLC will help you register a financial institution at an affordable cost. We offer our clients a range of legal services, including the preparation and submission of documents, entering information about the organization into the register, as well as obtaining a license. We will register a leasing company, pawnshop, credit institution and other financial institutions at an affordable cost. To get financial advice, order our services or clarify their cost, please contact us in a convenient way for you.