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2020: disclosure of information on UBOs and ownership structure of Ukrainian legal entities.
According to the law from 6 December 2019, (on force from 28 April 2020), the new obligations for Ukrainian legal entities adopted as follows :
• already existing legal entities must submit information and documents on the UBO (the group ownership structure, an apostilled extract from a foreign register for a non-resident shareholder, and a certified copy of the UBO’s identification document) within three months following the implementation of the requirements - before 28 July 2020.
Failure to notify or late notification to state authorities about the information on the UBO or changes to it can result in fines of between UAH 17,000 and UAH 51,000 (EUR 625 and EUR 1,875). The fine will be applied personally to the director of the company or to an authorized person.
Annual confirmation of UBO and ownership structure:
• information on the UBO and ownership structure must be confirmed annually within 14 calendar days from each anniversary of the company’s registration date by submitting a set of documents to a state registrar including: the group ownership structure, an apostilled extract from a foreign register for a non-resident shareholder, and a certified copy of the UBO’s identification document.
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