News

2017-04-19
The Pension Fund of Ukraine has announced the electronic employment record books introduction. The service is currently under development, and the first launch is scheduled for autumn 2017. The electronic employment record book shall be integrated to the Register of Insured Persons. For the purpose of the Register to completely replace a paper employment record book, the data thereof to be supplemented with the position of an employee. Persons started employment before 2000 shall keep their paper employment record books to be able to confirm the duration of work. The Draft Law suggesting ca...
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2017-04-17
The state support is now focused on investment projects implementation, and will be carried out at the expense of the state budget exclusively. The mechanism for selecting investment projects to state support thereof is also simplified. Investors are no longer required to develop investment proposals, and register them with the state. In addition, the role of the State Register of Investment Projects was changed from permissive to informative. Information that allows the monitoring of ongoing projects implementation will be included thereto. Being guided by the data recorded to the Register,...
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2017-04-17
Legal requirements on the mandatory use of seals (regardless of whether business entities hold them or not), necessity of seals applying in relation between business entities and public authorities, as well as provisions on a document annulment (recognition thereof as null or void) if not sealed, they are cancelled. Also, officials shall be held administratively liable (fine from 50 to 100 non-taxable minimum incomes) for the requirement to have the document submitted to the state or local authority sealed. The Law "On Amendments to the Certain Legislative Acts of Ukraine regarding the Use o...
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2017-04-13
According to the results of the annual legal research of the legal market The Legal 500 EMEA 2017, SDM Partners Law firm was recommended in four practice areas: Commercial, Corporate, M&A, Intellectual Property, Real Estate and Construction, Tax. Besides, the Partners of SDM Partners Law firm have received individual recommendations: Commercial, Corporate Law, Mergers and Acquisitions (Dmytro Syrota, Managing Partner; Ilya Soykis, Partner) Intellectual Property (Serhiy Dzis, Partner) Real Estate and Construction (Serhiy Dzis, Partner) Tax (Dmytro Syrota, Managing Partner; Mykola Mel...
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2017-04-07
The measure passed on the 6 April by a vote of 521 to 75, with 36 EU lawmakers abstaining, and, as a result, Ukrainian citizens will be exempted from EU short-stay visa requirements shortly. Before exempting Ukrainians from visa requirements, the EU strengthened the visa waiver suspension mechanism, to allow visas to be reintroduced more easily in exceptional cases. The formal procedures, namely: vote for Ukraine visa waiver by COREPER’s representatives, and Council of the EU thereafter. The document shall be further signed by the President of the European Parliament, and the President...
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2017-03-30
The National Bank of Ukraine has simplified the rules for transporting (bringing into and out of, and transferring) foreign currency cash across Ukraine’s customs border by individuals. The NBU has expanded the list of documents that resident individuals are required to provide customs authorities with, whilst declaring foreign currency cash exceeding the equivalent of EUR 10,000. From now on, to confirm the source of origin of foreign currency cash, resident individuals are allowed to provide not only documents confirming the withdrawal of cash from accounts in banks (financial insti...
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2017-03-29
Matters on the execution of agreements by shareholders and participants (founders) of LLCs for the purpose of joint enforcement of their rights have been governed. The regulations on corporate agreements, i.e. agreements on enforcement of rights of participants (founders) to LLC, as well as agreements between shareholders, were introduced to Ukrainian law. Besides, an obligation to disclose the fact of the agreement execution by shareholders is established. It is also stipulated, the decision on entering into a corporate agreement or agreement between shareholders, the state holding 25% of ...
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2017-03-24
The President initiated amendments to the procedural codes in order to ensure effective protection of rights and interests of individuals at courts. Inter alia, it isoffered to implement a system of automatic withholding of funds on bank accounts, allowing to provide prompt (within a few minutes) identification of money owned by a defendant or debtor, and to impose seizure thereon under a judicial decision or a resolution of a state enforcement officer. In addition, it is intended to use the possibilities of judicial proceedings by electronic means ("electronic court"), in particular, the pe...
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2017-03-21
Ukraine joined the European COSME program supporting small and medium businesses. It is expected participation in the COSME program will help to involve funds and intangible resources of the European Union to get Ukrainian businesses ready for free trade with the EU, to strengthen business relations with the European companies, as well as to improve the investment climate. Ukraine's accession to the COSME program shall allow the business: - to improve markets access conditions (21.5% of the COSME program budget). A number of tools funded by the COSME program will be accessible to domestic e...
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2017-03-20
Business entities are entitled to transfer through the ATO demarcation line, and the buffer zone: - food products; - medicine in humanitarian supplies; - goods and products required in order to ensure the functioning and maintenance of metallurgical, mining, coal-mining, and energy-generating industries. Transit of goods shall be conducted via entry/exit control points and checkpoints operating twenty four seven. Transit of goods beyond such point is prohibited. The list of road corridors and checkpoints shall be approved by the head of the ATO and published to the SFS, the State Border G...
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