On December 30, 2009 the Ukrainian Law “On Amendment of Certain Ukrainian Laws with view to Facilitate the Business Conditions in Ukraine” of December 15, 2009 No. 1759-VI (hereinafter referred to as “the Law”) entered into force. The Law amended a series of normative acts introducing many changes into practice of individuals’ and companies’ activities in Ukraine. 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.

 

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.