Sale of a ready-made foreign business in Ukraine: legal services for buying and selling companies

Cost of services:

from at 8000 UAH
Changing members of an LLC
Change of LLC members in Ukraine
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We were recently approached by a client from Lviv – a company established by a foreign participant. The active member, a citizen of Germany, expressed a desire to sell her business to a German company. This firm is quite successful, and the director continued in his role, leading them to seek a legal firm that could not only facilitate the correct execution of the business sale but also provide ongoing support. Given that the prospective buyer, also a foreigner, expressed interest in purchasing the established business, it was crucial for the client that the lawyers were English-speaking.

Unable to find a company in Lviv that met these specific requirements, they turned to us – a legal firm based in Kyiv, where our client managers are proficient in English, ensuring smooth communication. After an initial consultation, our lawyers reviewed the client's situation and documentation, preparing all necessary actions to facilitate the company's sale, considering the intricacies involved. The case was admittedly complex, but not for our experts, as further explained.

Selling a Business Owned by Non-Residents with Legal Assistance

The challenge here was that both the seller and the buyer were foreigners, with the buyer additionally being a legal entity. Neither party planned to travel to Ukraine for the transaction, nor did their representatives. However, this was not an issue for us: we prepared power of attorney documents, acting as representatives ourselves. While only a power of attorney was required from the seller, the buyer's situation was somewhat more intricate.

Understanding the ownership structure was crucial since it needed to be accurately reflected during the re-registration process. Moreover, obtaining identity document copies (passport copies) from the ultimate beneficial owners was necessary. If the founder of the foreign legal entity was another legal entity, it was also essential to disclose the ownership structure up to the individual persons. To ensure a lawful business sale, the foreign company needed to provide a general assembly protocol of the participants/shareholders/owners/board of directors, etc., indicating an authorized decision-making body, and a decision to purchase a part of the specified company had to be made. For those unfamiliar with such nuances, navigating a business purchase and sale could prove daunting.

After receiving all necessary documents from abroad, our team drafted the sale agreement, transfer-acceptance act, and new founding documents, and signed everything at the notary on behalf of both the seller and buyer by power of attorney. Despite the company being located in Lviv and our legal firm in Kyiv, our experts readily undertook the business's sale, legal, and accounting support, as physical presence was not a prerequisite. For instance, reporting is submitted electronically via a digital signature. Modern communication means are fully suitable for providing legal explanations, allowing for the sale or purchase of an existing business without unnecessary complications or personal time investment when handled by professionals.

Legal Support for Foreign Businesses in Ukraine: High Standard of Legal Aid

If you require assistance with company re-registration or making amendments, look no further. Our firm prides itself on our attention to clients' issues and needs, enabling us to develop a high-quality service delivery system tailored to each case. We are committed to facilitating the sale of your business swiftly and with utmost comfort for you, ensuring:

  • Reliability: With the task in our hands, we guarantee timely completion without unnecessary complications. All unexpected expenses are covered by us.
  • Accessibility: We maintain constant communication. Your dedicated client manager will provide updates throughout our partnership, ready to address any inquiries.
  • Client Needs Focus: Our aim is to achieve your goals, not just to tick off tasks. Our broad perspective is enriched by our extensive experience.
  • Minimal Process Involvement: Should you wish to avoid involvement in governmental procedures or other procedural steps, we're prepared to handle these for you.
  • Expert Legal Expertise: The diverse legal expertise of our lawyers simplifies, secures, and streamlines the resolution of any legal challenges.

If your goal is to successfully sell or buy a business, we invite you to contact us. Beyond premium legal services, we're also happy to offer accounting services to ensure your business's successful operation.

For more information on changing LLC members, click here.

For all legal services available to non-residents, click here.

Interested in business support services? Click here.

Publication date: 24/01/2024
Marina Losenko

About author

Name: Marina Losenko

Position: Associate

Education: National Aviation University

Knowledge of languages: Russian, Ukrainian

Email: [email protected]

Marina Losenko is a lawyer of the company, specializing in corporate law and intellectual property law.

Marina has extensive experience of registration and dissolution of enterprises, charities and non-governmental organizations, representative offices of foreign companies as well as formalization of changes to registration information of the entities.

For quite a long time she has been working in the field of licensing and obtained licenses for different types of business activities including sale of medicines (license for activities of drugstores); wholesale of pesticides and agrochemicals; activities with scrap; activities with hazardous wastes; operations with scrap of precious metals and gemstones; private security services; transportation; tour services; use of redio frequency resource; IPTV services, etc.

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