Financial services license
Financial services license
What we do
- Obtain any license of the National Commission for State Regulation of Financial Services Markets (hereinafter - the Commission);
- 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.).
OUR FEES
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 Commission, we provide you with the details of the state fee payment, which amounts to one minimum subsistence level for able-bodied persons (2,007 UAH since July 1, 2019) for one license.
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 CHOOSE US
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Partner relationships with audit firms
One of the requirements for the registration and licensing of a financial company is obtainment of an audit report. Thanks to our established contacts with auditors, we can help you obtain it. -
A to Z knowledge of the financial services market
We assist not only in preparing documents and obtaining permits, but also provide further support of the financial company (reporting, taxation). -
Extensive experience in working with the National Commission for State Regulation of Financial Services Markets
We have been providing services for obtaining Financial Services Licenses since 2012. During this time, we have undergone the procedure more than once. You can find numerous examples of our successful story in the Feedback and Our Publications sections on the website. -
Personal manager
We have developed an optimal procedure for obtaining financial services licenses. We will ensure you achieve the desired results as quickly and easy as possible.
Documents required for obtaining a license
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Information on the company
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Information on the director and the accountant
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Information on the financial standing of the company
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.
REFERENCES FROM OUR CLIENTS
General director I.Logvinenko , Bravo Airways
General director Skibinskiy V., Yokogawa Electric Ukraine Ltd.
Partner, Denis Y. Lysenko, Vasil Kisil & Partners
President Tedeev E.S., Ukrainian wrestling association
General Manager Stashkevych I.Y., LLC “Trading company” Rud”
L. Chervonyuk, LLC "Vitalux"
Chief ophthalmologist of Ukraine, Oksana Vitovska, All-Ukrainian alliance of ophthalmologists
Important to know
If necessary, our specialists can not only ensure the inclusion of the company in the Register and obtaining a license, but also assist with related services, such as obtainment of an audit report, development of the company’s website, drafting of internal documents, etc.
ANSWERS TO FAQs
What type of activity can we get a Financial Services License for?
We can obtain a Financial Services License for any type of activity subject to licensing according to the present law of Ukraine.
What should the work experience be for the director?
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.
Can I choose the type of licence after the company is included in the State Register of Financial Institutions?
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.
What is the minimum authorized capital required for the company to obtain the Financial Services License?
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.
SWIFT OBTAINMENT
AND BEST QUALITY PROVEN BY YEARS OF PRACTICE!
Volodymyr Gurlov, Managing partner
RELEVANT INFORMATION
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!
