Business
A civil and commercial code split, with the commercial code repealed
Ukraine long ran parallel Civil and Commercial Codes; the Commercial Code was repealed in 2024 as part of EU approximation, leaving the Civil Code as the single basis. The TOV limited liability company has no minimum capital and is registered in the unified state register.
Key rules
- There is no minimum share capital for a TOV limited liability company.
- Registration in the Unified State Register is effected by state registrars and notaries.
- The 2018 LLC law allows shareholder agreements and detailed corporate governance clauses.
- Ultimate beneficial owners must be declared and the ownership structure filed.
Governing law
- Civil Code of Ukraine (2003)
- Law on limited and additional liability companies (2018)
- Law on state registration of legal entities (2003)
In practice
Diia.Business allows online incorporation with a qualified electronic signature, but banks still require in-person identification of directors before an account is usable.