Financial services license
Cost of services
Cost of services:
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What we offer
- Receive any license from the National Bank of Ukraine (hereinafter - the NBU);
- Develop and consult on the package of documents required for obtaining a license and carrying out further business activity;
- Ensure the company’s inclusion in the the State Register of Financial Institutions of Ukraine (if necessary);
- Assist in drafting additional documents (rules and regulations, agreements);
- Help to obtain an audit report and to successfully undergo the audit, we can offer our partner auditors;
- Analyze a set of the documents provided by the Client, and assist in collecting missing documents;
- Advise on the requirements for business activity depending on the type of license (factoring, leasing, guarantee, lending services, etc.).
Documents required for obtaining a license
The Client shall provide us with the following list of documents for the Financial services license obtainment:
- Articles of association;
- Financial records;
- Audit report;
- Certificate on availability and compliance of the form of organization of accounting, hardware and software with legal requirements;
- Copies of internal rules and regulations on financial services provision;
- Copies of diplomas and certificates confirming that the director and chief accountant have successfully completed the professional development programme;
- Copies of the director’s and chief accountant’s employment records;
- Certificate confirming compliance of the director and chief accountant with the requirements of the law;
- Certificate on the premises, technical equipment and software available;
- Financial Services Agreement Templates;
- Schematic representation of the ownership structure.
The specified cost of financial services license obtainment refers to obtaining one type of the license. If you intend to obtain several licenses, the cost of services shall be agreed separately.
The period of obtaining a license depends on a number of factors, but it usually takes about two weeks.
In addition, there is a number of other legal actions to be carried out in advance that also require some time. They include:
- Registration of a legal entity - about two days.
- Inclusion into the State Register of Financial Institutions - about 35 days. This stage involves consulting on the requirements for the financial institution, assistance in obtaining an audit report, etc.
The services mentioned above are not included in the cost of service for obtaining a license and are provided via separate agreement with our lawyers.
Thus, the whole procedure for obtaining a license, including all the necessary steps, can take about two months. But we can speed up each of the stage upon the agreement with our specialists.
After receiving a positive decision of the NBU, we give you the details for paying the state payment - one living wage for able-bodied persons (from December 1, 2020 - 2270 hryvnia) for one license, the size for the next year will be known after the approval of the state budget for 2021.
Over the years of continuous operation, we have developed the most convenient scheme of cooperation, since we have experience in working with managers and top-managers of financial institutions, as well as with external and internal attorneys of the companies.
In addition, we have sufficient expertise to:
- Provide you with a turnkey service (registration, inclusion in the Register, licensing);
- Assist you in obtaining any kind of the Financial Services License;
- Assist in arranging the further activities of any financial companies.
Why us
We are ready to help you!
Contact us by mail [email protected], by phone number +38 044 499 47 99or by filling out the form:
Answers to frequently asked questions
We can obtain a Financial Services License for any type of activity subject to licensing according to the present law of Ukraine.
The total work experience of the financial institution’s (except the pawnshop) director shall be at least 5 years, and at least two years of the overall experience shall be in managerial positions.
No. When including the company into the State Register of Financial Institutions, the Client shall already know what license the company intends to obtain in the future.
The amount of the authorized capital depends on the type of a financial institution and the number of financial services the company intends to provide. The amount of the authorized capital of a financial company, which will provide one type of financial services, shall be not less than UAH 3 million, and if it intends to provide two or more types of financial services, then it shall be not less than UAH 5 million. In addition, there are exclusive requirements for pawnshops and some other types of licenses.
According to the law of Ukraine, financial institutions are legal entities, which are registered in the manner prescribed by law and provide one or more types of financial services.
To provide several types of financial services, the company shall obtain several types of licenses. This means that a legal entity can carry out four types of activities at once:
- Lending, including on the terms of financial credit;
- Guarantee services;
- Factoring;
- Finance lease.
However, there are also so-called “exclusive” types of licenses.
Thus, if a company, for example, intends to provide services related to fund management for purchasing goods in groups, it can obtain only one type of license, which is exclusive.
If You want to obtain Financial services license easy and fast - call us!
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