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Taras Miroshnychenko

Head of International Corporate Law and Fintech Practice

A specialist in the practice of migration and corporate law, he also specializes in legal support for business in EU countries.

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License to provide financial services in Ukraine

A license to provide financial services is mandatory in many countries and determines the ability of enterprises and professionals to work in the field of finance.

In this text, we will consider various aspects of obtaining and using a license for the provision of financial services, as well as the importance of having it.

Why do you need a license to provide financial services in Ukraine?

A financial services license is an important regulatory tool that determines who is allowed to provide various types of financial services and under what conditions.

This license is mandatory in many countries and regulates activities in the financial sector for the following reasons:

  • Ensuring legality and compliance with laws. The license ensures that financial services are provided in accordance with the laws and regulations governing the financial sector. This helps to reduce the risk of financial fraud and unscrupulous actions.
  • Protection of investors and clients. The license ensures that financial services are provided by competent and reliable persons, which helps to protect the interests of investors and clients. Investors can rest assured that their money is safe.
  • Ensuring the stability of the financial system. Regulation of the financial sector through licenses contributes to the stability of the economy. Control over financial institutions and services helps to avoid financial crises and ensures the stability of the system.
  • Reducing the risk of money laundering and terrorist financing. The license to provide financial services includes control over financial operations, which helps to detect and prevent money laundering and terrorist financing.
  • Encouraging competition and innovation. The license can create a competitive environment that promotes the development of innovations and the improvement of the quality of financial services. Competition stimulates market participants to find new and effective solutions for customers.
  • Protection of economic stability. The license helps to avoid inappropriate risks and undesirable actions that may affect the stability of the economy.

Consequently, a financial services license plays a key role in the regulation of the financial sector, ensuring legality, protecting investors, the stability of the financial system, and stimulating competition and innovation.

Obtaining and maintaining an appropriate license is critical for any financial market entity.

What are the types of licenses for the provision of financial services in Ukraine?

There are many types of licenses for the provision of financial services, including:

  • Banking license. Allows banks to provide various financial services, including deposit and lending.
  • License for investment activity. Allows companies to carry out investment activities, including the purchase and sale of securities.
  • Insurance license. Gives the right to companies to provide insurance services.
  • Financial consultant license. Allows specialists to provide advice on financial planning.
  • Exchange activity license. Necessary for companies that exchange currencies and securities.

How to issue a license to provide financial services in Ukraine

The process of obtaining a license for the provision of financial services may vary depending on the country and type of license.

However, general steps include:

  • Preparation of documents. Collection and preparation of all necessary documents, including financial statements and business plans.
  • Application submission. Submitting an application for a license to the relevant regulatory body.
  • Audit. Thorough verification of your application and documents by the competent authority.
  • Payments and Refunds. Making the necessary payments and reimbursements.
  • Compliance. Compliance with all requirements, including capital investment, ensuring reliability, and others.

Assistance of our legal company in obtaining a license to provide financial services

Our law firm is ready to provide professional assistance in all stages of obtaining a license to provide financial services.

We will help you determine the type of license you need, prepare all the necessary documents, submit an application, and make every effort to successfully obtain a license.

Our lawyers at “Prikhodko and Partners” work responsibly and quickly, solving all the issues of each customer individually.

The general conclusion is that a license for the provision of financial services is a mandatory component in the modern world of finance, which ensures the legality and reliability of activities in this field.

It is important to carefully study the licensing requirements and process, and consider the assistance of a law firm to ensure success in this matter.

For consultation or calculation of the price of obtaining a license for the provision of financial services, fill out the form below.

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Taras Miroshnychenko
Head of International Corporate Law and Fintech Practice

A specialist in the practice of migration and corporate law, he also specializes in legal support for business in EU countries.

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