reliable & timely door to door delivery
Click for the BBB Business Review of this Delivery Service in Etobicoke ON
Tracking
Service type
Parcel/Order #
  • Home
  • News
  • For business in Ukraine: deadline for Submission of Information on Beneficiaries Extended

For business in Ukraine: deadline for Submission of Information on Beneficiaries Extended

25 may 2015, 06:40

On 21 May 2015 the Parliament passed the Bill "On Amendments to Certain Laws of Ukraine regarding the Information about Ultimate Beneficiary Owners (Controllers) of Legal Entities" (Bill No. 2896) into law. The Law extend the deadline for companies to submit information about their ultimate beneficiary owners (controllers) (hereinafter – the Beneficiaries) or about the absence of such by 25 September 2015.

Also, the Law stipulates that information about beneficiaries shall not be submitted by:

- state owned and municipal enterprises;

- companies whose shareholders are individuals only (if such individuals are real owners).

If a company has no beneficiaries, it should submit data about the absence of beneficiaries. However, the law-maker failed to clarify what should be understood as such data. Therefore, the question remains whether it will be enough to specify the relevant information in the form submitted to a registrar or it will still be necessary to provide supporting documents.

A company’s failure to provide the required information within the prescribed term entails a fine of UAH 5,100 to UAH 8,500 for individuals responsible for its provision.




Tags:  business, Ukraine, Information, Beneficiaries, Extended, 2015, Ultimate Beneficiary Owners