Registration of financial institutions

As prescribed with the law of Ukraine, a financial institution is a legal entity which provides, pursuant to the law, one or several financial services and which is entered to the relevant register in accordance with the procedure stipulated by law.

Financial institutions include:

• banks;
• credit unions;
• pawn broker's shops;
• leasing companies;
• trust companies;
• insurance companies;
• institutions of funded retirement benefits;
• investment funds and companies;
• other legal entities, the only activity of which relates to financial services, and in cases expressly stipulated by law – to other transactions connected with provision of financial services.

A legal entity intending to provide financial services must apply to the relevant authority responsible for state regulation of financial service markets within thirty calendar days of state registration in order to be included to the state register of financial institutions.

To be registered as a financial institution, a business entity must comply with the requirements set to amount of the authorized capital stock, personnel qualification, security of premises and storage facilities etc. (depending on a kind of a financial institution). Professional qualities and business reputation of the personnel must meet the requirements stipulated by law.

In case the law provides for obtaining a license for certain financial services, a financial institution is entitled for provision of such services only after it obtains the relevant licenses.

KD CONSULTING’ law & consulting firm will provide in-depth advice on establishment of financial institutions in Ukraine, will focus on all issues of concern related to their establishment and operation. Our specialists will provide you with services on establishment of any financial institutions ‘from point zero’. We will develop for you any incorporation documents and other registration instruments with the consideration of all specific requirements to this or that financial institution, and will conduct state registration of your institution and its inclusion to the state register within the shortest time possible. If necessary, we will render a full range of services related to obtaining respective licenses and provide consultancy on taxation etc.

Rich experience of our lawyers in the sphere of legal support to various financial institutions and confidence in our legal position allow for avoiding risks of refusal and dismiss of your documents submitted.

 You are welcome to read our publications on establishment of a financial institution in ‘Publications’ section.