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SUBMISSION AND UPDATE OF INFORMATION ABOUT BENEFICIARIES

 An extremely common issue faced by lawyers in the field of corporate law, and therefore business representatives, is to make changes to the information about the legal entity. Particular attention when filling in the registration forms of applications should be paid to the information about the ultimate beneficial owner, which is conditioned and mandatory in accordance with the Law of Ukraine of 06.12.2020 361-IX. Please note that the current registration forms can be found at the link on the website of the Ministry of Justice.

 Now, in the process of registration, it is necessary to submit, and further update, annually confirm the information on the ultimate beneficial owners. Yes, this somewhat complicates the registration procedure, but the requirements of the Law should be met responsibly.

 Therefore, it is necessary to enter such information correctly in the registration forms first.

 The information on the final beneficial owner is regulated by part 9 of Article 9 of the Law On State Registration of Legal Entities of 15.05.2003 755-IV, which is indicated in the sheet 2 of the submitted form.

 When the founder is an individual, there will be a direct influence.

 In this case, the information will consist of:

1. Last name, first name and patronymic;
2. Date of birth;
3. Countries of citizenship;
4. Passport data (series / number or number);
5. Places of residence;
6. RNOKPP (so-called identification code);
7. The nature of such a participant’s ownership of corporate rights of a legal entity – direct;
8. Measure and degree of ownership – 100% of the authorized capital.

 If the founder and owner of the corporate rights of a legal entity is another legal entity, there will be an indirect influence. That is, we are talking about the indirect participation of individuals. Therefore, we enter data on the ultimate beneficial owner, the ultimate owner – an individual – through the information of the founding legal entity. In this case, we enter the following information:

1. Name of the founding legal entity;
2. EDRPOU code;
3. Surname, name and patronymic of the natural person-owner of the legal entity-founder;
4. Date of birth;
5. Countries of citizenship;
6. Passport data (series / number or number);
7. Places of residence;
8. RNOKPP (so-called identification code);
9. The nature of such a participant’s ownership of corporate rights of a legal entity – indirect;
10. Measure and degree of ownership – 100% of the authorized capital.

 However, indirect influence can also be when the founder is an individual. This is possible when the latter exercises its rights in the corporate participation of a legal entity by transferring rights to trust management.

 To strictly comply with current legislation and avoid liability for violating the above procedures, we recommend using legal assistance.

 Prikhodko & Partners Law Firm provides a wide range of services to businesses. Contact us, we will be happy to help you and become your partner.

Author: Anatoliy Perepelchenko

lawyer, deputy managing partner

Prikhodko & Partners Law Firm

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