Ukrainian business owners to come out of the shadows
Disclosure of owners of Ukrainian companies will provide a favorable investment climate in the country, the Minister of Justice of Ukraine Olena Lukash stated, as reported by the press service of the Ministry.
This is especially important to those dealing with new contractors. For them it is vital to have the information on when the company was registered, what their activities are, which is the composition of founders, and whether this company does exist in the first place. Making such information freely available will allow to check the counterparty’s reliability, Olena Lukash commented the Order of the Ministry of Justice № 1283/5 "On Amendments to the Procedures for providing information from the Unified State Register of Legal Entities and Individual Entrepreneurs".
She noted that simplifying public access to information in the new format will be user-friendly: no need to send queries or pay money.
When asked about digitation of archival documents BTI, Olena Lukash said:
We expect that in the near future the Verkhovna Rada will adopt the law that will allow free transfer of the data about our proprietary relationships with the BTI to the State Registration Service, as the State Registration Service currently keeps only the data citizens have introduced over the past two years. The remaining data is still stored in the Bureaus of Technical Inventory. Therefore, we expect a feedback from MPs.
