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.
Registration of a public company
Ukraine, as a country with a dynamic economy, promotes the development of entrepreneurship in various organizational and legal forms. One of these forms is a public joint-stock company (hereinafter – PJSC).
The advantages of registering the corresponding PJSC are that, firstly, the owners of PJSC shares do not have personal responsibility for the obligations of such a company, and their rights are limited to the amount of their contributions to the authorized capital of PJSC; secondly, PJSC founders can be both natural and legal persons, regardless of their residency.
At the same time, several requirements are put forward to PJSC, the main of which are requirements relating to:
- the minimum amount of authorized capital(the minimum authorized capital of PJSC must be two hundred minimum wages in accordance with the law, which from January 2024 is equal to UAH 1,460,000);
- publicity of the company’s activities(according to the current legislation, a mandatory requirement for PJSC to have its website for publishing important information on PJSC’s activities and management, including the charter, minutes of meetings of participants, financial statements for the relevant period, etc. is established).
The creation of a PJSC is a procedure that is a complicated issue of the company’s shares at the National Commission for Securities and the Stock Market.
Therefore, the preparatory procedure before the direct registration of PJSC turns out to be quite complex and consists of the following stages:
- The first stage is a meeting of potential founders, during which a decision is made to create a public joint-stock company and issue shares.
- The second stage is the issue of securities, which includes submitting an application and collecting the necessary documents to the Central Depository of Securities, concluding an agreement with it on servicing the issue of shares and depositing funds by the founders for their redemption, respectively.
- The third stage is the holding of the constituent assembly of PJSC. At these meetings, the result of the issue of shares is approved, as well as the founding document, the name, and the legal address of the location, the board of the company is elected, and all the decisions made are recorded in the minutes.
Registration of a public joint-stock company on the territory of Ukraine is an important and responsible stage in a person’s commercial activity.
The team of qualified lawyers of “Prikhodko and Partners” is ready to provide a full range of legal services for clients interested in the process of PJSC registration.
The offered service includes consultations on compliance with the requirements imposed by law on PJSCs, before registration itself, preparation, as well as submission of all necessary documentation for the issue of shares and the process of registration with the relevant state body, dialogue with regulatory bodies and the state registrar.
To register a public joint-stock company on the territory of Ukraine, it is necessary to collect a certain package of documents, which is characterized by its extensiveness.
- First, basic documents are needed for registration, including a registration application, a certificate of payment of state duty, an extract of the payment of a single contribution to social insurance, and a copy of the passport of the founders or participants;
- It is also necessary to collect important documents related to the management and organization of PJSC activities: charter, ownership structure, as well as minutes of meetings of founders or participants;
- Regarding the confirmation of the purchase of shares by the founders, it is necessary to have a contract for the maintenance of share issues, a certificate of registration of such an issue, and a document on giving the securities a corresponding identification number.
Finally, the registration body checks the submitted documents for compliance with the requirements of the law, and after successful completion of the check and compliance with all requirements, registers the PJSC and issues a corresponding certificate confirming the legality of such registration.
Conclusions.
Registration of PJSC is an important stage in its life cycle. It is important to comply with all legal requirements and registration rules for the successful creation and further functioning of PJSC on the territory of Ukraine.
A detailed study of the legislation and consultation with legal professionals can help avoid mistakes and ensure a successful registration.
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Have you carried out commercial activity in any organizational and legal form before (PJSC, PrJSC, LLC, Ltd, individual entrepreneurship)?
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Have you registered a PJSC before?
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