Pursuant to Section 1 of the Law the amount of the authorized capital of a limited liability company should not be less than the equivalent of one minimal salary as set on the date of establishment of the LLC. Please note that from January 1, 2010 until March 31, 2010 the minimal salary (and the minimal authorized capital respectively) is established in the amount of UAH 869,00. It is worth mentioning that before the Law entered into force the minimal authorized capital of a limited liability company amounted the one hundred (100) minimal salaries equivalent.

Also, on December 30, 2009 the Ukrainian Law “On Amendment of Certain Ukrainian Laws with View to Prevent and Resist Corruption” of December 23, 2009 No. 1787-VI entered into force. This document establishes that on April 1, 2010 the following Ukrainian laws will enter into force: “On Principles of Prevention and Resistance to Corruption”, “On Responsibility of Legal Entities for Corruption Infringements” and “On Amendment of Certain Ukrainian Legislative Acts on Responsibility for Corruption Infringements”. The mentioned laws will have a strong impact on the everyday activities of many domestic companies and individuals. We will keep you informed about all the legislation updates in the sphere of resistance to corruption.

 

We kindly ask you to take the above amendments into consideration and contact us in case if you consider these new regulations might have legal consequences for you.