The law will raise the country’s rating

 The deputies of the Verkhovna Rada of Ukraine adopted draft law №2258-а after it had its second reading; this law sets out changes to some legislative acts of Ukraine as to simplification of the procedure for starting a business, bigmir.net reports.

 The said decision was voted “Aye” by 244 parliamentarians, with a required minimum of 226 votes.

 The law rescinds any payment for registration of a legal entity and natural person, as well as establishes the registration procedure for legal entities and individual entrepreneurs through electronic filing of documents without obligatory use of a digital signature certificate. Additionally, the new rules permit entrepreneurs not to create and use this signature.  

 «The primary purpose of this project is simplification and reduction in fees and dues charged for registration of a new business in Ukraine», - explanatory notes to the draft law say.

 The adoption of the law will «allow facilitating a move of Ukraine to a simpler, faster and cheaper procedure for foundation of new economic entities than it was before, it will enable increase in turnover, enhancement of reliability and entrepreneurial self-efficacy, reduction in temporary expenses the entrepreneurs incur, hampering of the attempts of raiding».

 Moreover, owing to this enactment «the international ratings of Ukraine will improve as regards its “investment attractiveness of the economics and ease of running a business”. In particular, its Doing Business ranking evidences of likelihood for Ukraine to climb to 21 ease of doing business index.