Registration of financial companies in Ukraine.

The question "how to open a financial company" is very relevant in Ukraine. Financial organizations are one of the most profitable types of business. Services of factoring, leasing, credit organizations, currency exchange are always in great demand in our country. The niche is still vacant, so the interest in registering financial companies in Ukraine is quite high.

However, before creating a financial institution, it is necessary to comply with a number of requirements and conditions. The legislation in Ukraine is quite strict, so the procedure is quite long. It is best to entrust the registration of a financial company to professionals. The "Zigma" law firm offers its clients the services of creating organizations working in this field. We will help you complete the registration procedure quickly and without errors.

Which companies are considered financial in Ukraine?

Before registering a financial institution, it is necessary to know which organizations belong to this category. According to the legislation of Ukraine, financial organizations are considered to be legal entities that work in the following areas:

• credit unions - organizations specializing in providing loans to individuals or legal entities at a certain percentage;
• factoring companies – legal entities that act as intermediaries in agreements and that provide funds for the payment of sums for companies that work with deferred payment;
• leasing - organizations that provide clients with property for long-term lease with the right of redemption.
• exchange companies – legal entities that carry out currency exchange for individuals and legal entities;
• insurance companies – organizations that provide clients with property or other types of insurance services;

In addition, financial organizations include legal entities working in the fields of attracting financing, clearing, pension provision, providing guarantees and guarantees, etc.

It is important to know that the conditions for opening a financial company of each type have specific features. It is quite difficult for clients who do not have the necessary knowledge to understand them. Therefore, if you need a financial company, it is better to entrust the registration to specialists.

How is the registration of a financial company?

The procedure for registering a financial organization may differ depending on the type of company. However, there are also general principles that must be followed for all types of legal entities. Let's consider them in more detail.

Establishment of a legal entity.

To register a fin company, the organizational and legal form of an LLC is most often chosen. However, for some types of organizations, LLCs cannot be used. For example, a pawnshop can be registered only in the form of a private company. An insurance company can be established in the organizational and legal form of JSC (joint-stock company), PС (private company), ALC (additional liability company), etc. Registration of a legal entity takes place without special conditions.

Share capital.

Authorized capital is a mandatory requirement for financial organizations. Its size varies depending on the type of business you plan to do. Let's consider the minimum requirements for authorized capital for some types of financial organizations.

• Pawn shop - 500 thousand hryvnias. For a company with branches - UAH 1,000,000.
• Factoring - UAH 3,000,000, when providing other financial services - UAH 5,000,000.
• Leasing - UAH 3,000,000, when providing other financial services - UAH 5,000,000.
• Currency exchange - UAH 5,000,000 for every 50 exchange points. For example, if the company plans to open 150 outlets, the authorized capital must be at least UAH 15,000,000.
• Bank - from UAH 200,000,000.

The authorized capital of the enterprise must be formed exclusively by funds, the use of property or securities is inadmissible. The authorized capital must be formed before submitting an application to the NBU. Funds are deposited into a special current account, and the money must remain in the account all the time until the NBU examines the package of documents.

All funds used to register a financial company must come from verified sources. The origin of the capital is documented.

Preparation of documents.

Before starting operations, the company must be registered with the NBU (National Bank of Ukraine). At this stage, the enterprise must prepare an audit opinion on the fact of formation and a similar document confirming that the equity capital meets regulatory requirements.

Before registering a financial company, you need to conclude all the necessary contracts, prepare the rules and obtain the necessary licenses. Financial services in Ukraine are provided only on the basis of special permits for financial activities. The NBU and the NSSMC (the National Securities and Stock Market Commission) are responsible for issuing documents. The package of documents and the authority to which you need to apply to receive them differ depending on what services you plan to provide.

Submission of documents to the NBU.

Submission of documents to the NBU is necessary for the inclusion of the organization in the Register of Financial Companies. At the time of submitting the package, the company must already have appointed managerial positions - director and chief accountant - corresponding to the requirements for qualifications, education, and work experience.

Review of the package of documents takes 2 months, after which you will receive an answer - confirmation of the company's inclusion in the register or reasoned refusal. In case of refusal, it is necessary to eliminate the shortcomings and submit the package of documents again.

Registration at the National Bank of Ukraine and NSSMC.

The final stage is the registration of a legal entity in the NBU and NSSMC. At this point, a person is appointed who is responsible for financial monitoring in the organization. The appointment must be made before the company conducts its first financial transaction. Thus, it is necessary to apply to this body immediately before the start of the organization's activities. The NBU must provide internal rules on financial monitoring.

Legal company "Zigma" offers services for registration of financial companies in Kyiv and Ukraine. We will complete the turnkey registration - we will prepare the necessary documents, submit them and fully accompany the procedure. "Zigma" will provide all the necessary services - registration with regulatory bodies, development of internal documents and Rules, obtaining a license, etc.