Lawyer
Expert in corporate and international corporate law. Has extensive experience in supporting the acquisition of financial licenses in Ukraine, as well as business incorporation in the EU, the United Kingdom, Switzerland, the UAE, and key Asian jurisdictions.
Obtaining a license from the NBU to provide financial services
Obtaining a licence from the National Bank of Ukraine to provide financial services is a key prerequisite for lawful operation in the financial market of Ukraine. At the same time, NBU licensing is not a mere formal procedure of submitting documents.
Practice shows that even a prepared package of documents does not guarantee successful completion of the licensing procedure. Mistakes in the ownership structure, business model, internal policies, corporate governance or financial monitoring may lead to the documents being left without consideration, delays in the process or refusal to grant the licence.
Prikhodko & Partners Law Firm provides comprehensive legal support to clients entering the financial market — from preliminary legal assessment of the business model and ownership structure to preparation of documents, submission to the NBU and professional communication with the regulator.
Who needs legal support for obtaining an NBU licence
This service is relevant for businesses and investors that plan to operate, or already operate, in the financial sector and need not just document preparation, but a proper legal, corporate and regulatory structure.
Legal support may be required for:
- financial companies;
- fintech projects;
- factoring companies;
- credit institutions;
- payment services;
- pawnshops;
- credit unions;
- investors planning to enter the financial market of Ukraine.
We work with projects where obtaining a licence is only part of the task. What also matters is minimising regulatory risks, ensuring transparency of the ownership structure and aligning the business model with NBU requirements.
What the NBU checks during licensing
The National Bank of Ukraine assesses not only the formal availability of documents. The regulator checks the company’s actual ability to carry out financial activities in accordance with legal requirements.
Particular attention is paid to the following aspects:
- transparency of the ownership structure;
- legality of the sources of funds;
- business reputation of qualifying shareholders;
- business reputation and qualification of managers;
- realistic nature of the business model;
- availability of internal policies and procedures;
- financial monitoring system;
- corporate governance framework;
- ability to protect the rights of consumers of financial services.
Important: NBU licensing is not reduced to mechanical document preparation. The regulator assesses the logic of the business, transparency of the structure, compliance of owners and managers, as well as the company’s readiness to operate in the financial sector within the legal framework.
Discuss the project structure with a lawyer
Procedure and conditions for obtaining an NBU licence
The procedure for licensing financial activities consists of several consecutive stages. First of all, the legal entity must be established in the proper organisational and legal form and comply with the requirements applicable to financial institutions.
In particular, the minimum authorised capital, ownership structure, corporate governance system, internal policies, financial monitoring procedures and compliance of managers with qualification requirements are important.
Legal support for obtaining an NBU licence includes:
- preliminary analysis of the client’s business model;
- assessment of the ownership structure and sources of financing;
- identification of applicable regulatory requirements;
- preparation of organisational, financial and internal documents;
- formation of the document package for the NBU;
- submission of documents to the regulator;
- support in communication with the National Bank of Ukraine;
- legal and compliance support after obtaining the licence.
Regulatory risks and typical mistakes of applicants
Most often, difficulties in the licensing procedure arise not because a single document is missing, but because the overall structure of the project does not meet the regulator’s expectations.
The most common risks include:
- non-transparent or complex ownership structure;
- insufficient confirmation of the sources of funds;
- formal approach to internal policies and procedures;
- lack of an economically justified business plan;
- incomplete consideration of financial monitoring legislation;
- non-compliance of managers or owners with business reputation requirements;
- superficial understanding of the NBU’s prudential requirements.
A particularly risky situation is when documents are formally prepared but do not reflect the company’s actual operating model. In such a case, the regulator may ask additional questions, leave the documents without consideration or refuse to grant the licence.
Practical approach to legal support
Considering these risks, Prikhodko & Partners Law Firm carries out a comprehensive legal assessment of the client’s business model at the initial stage of licensing support, taking into account the official positions of the National Bank of Ukraine and current law enforcement practice.
This approach allows us to:
- determine which licence is required for a specific business model;
- assess the company’s readiness to submit documents;
- identify potential regulatory risks before applying to the NBU;
- prepare a structured package of documents;
- minimise the risk of delays or refusal in the licensing procedure.
Obtaining an NBU licence to provide financial services is a complex multi-level process that requires a deep understanding of financial legislation, the regulatory logic of the National Bank of Ukraine and practical requirements for financial institutions.
Professional legal support helps minimise risks, shorten the procedure and ensure stable operation of the business within the legal framework.
Legal support includes
- preliminary assessment of the business model;
- analysis of the corporate structure;
- assessment of the sources of funds;
- preparation of the document package for the NBU;
- development of internal regulations and policies;
- support in communication with the regulator;
- compliance support after obtaining the licence.
Prikhodko & Partners Law Firm provides full legal support to clients — from preliminary analysis of the business model and ownership structure to formation of the document package, communication with the regulator and further compliance support after obtaining the licence.
Calculate the cost of services
1 question
Has the company already been registered for obtaining the NBU financial licence?
2 question
Has the specific type of financial services the company plans to provide already been determined?
3 question
Has the ownership structure, including information on UBOs, the director and key responsible persons, already been prepared?
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