FYI: the legal details of the representative office of foreign company in Ukraine are published here. The given below text is for representative offices of Ulrainian companies. Separate division of company: A separate division is a division of Ukrainian company that is located outside its location, manufactures products, performs works or transactions, provides services…
Full financial responsibility of employees in Ukraine
According to the Ukrainian labor legislation, the full financial responsibility of an employee is rather an exception to the rules. As a general rule, the responsibility of an employee for the damage caused to an employer (enterprise) is limited to the amount of such employee’s monthly salary. The full financial responsibility is applicable only to…
Regulatory rules for working on a computer in Ukraine
It will be helpful for all office workers to know that Ukraine has the State Sanitary Regulations and Standards for working on visual display terminals of electronic computing machines, approved by the decree of the Chief State Sanitary Doctor of Ukraine dated December 10, 1998. In accordance with this regulation, additional breaks for rest shall…
Purchase and sale of corporate rights (share) in Ukraine
Pursuant to the general rule, purchase and sale of corporate rights (share) shall be performed by concluding any agreement of purchase and sale of corporate rights (share in the authorized capital, shares) (hereinafter referred to as the Agreement) between the owner of such rights and the third party (buyer). For certain types of enterprises (for…
Trade secret (confidential) agreement (NDA) with employee in Ukraine
The labor legislation of Ukraine does not provide for such term as “trade secret agreement” (NDA), therefore, the general provisions of Ukrainian law shall be used. Many Ukrainian companies have adopted the experience of foreign and international companies and conclude agreements with employees on non-disclosure of trade secrets (similar to non-disclosure agreement). This makes possible…
Withdrawal of a shareholder from a limited liability company (TOV) in Ukraine
A shareholder, whose share in the authorized capital of a limited liability company is less than 50%, shall have the right to leave the company at any time, regardless of the consent of other members and the company itself. If a shareholder of a limited liability company (TOV) owns a share in the authorized capital…
Company’s labor protection in Ukraine
According to Article 15 of the Law of Ukraine “On Labor Protection”, a labor protection service shall be establish at each company. The bodies of the State Labor Service of Ukraine perform state supervision over labor protection. The inspectors shall have the right to conduct scheduled and unscheduled inspections of all enterprises. The issue of…
Lease of property in Ukraine
Change of amount of rent The lease payment may be changed only by agreement of the parties. In addition, the lease agreement may define a mechanism for the revision of the amount of rent. Any change of economic situation, exchange rates, etc. shall NOT be the ground for revising the amount of rent, except as…
Payroll of dividends in Ukraine
This Section is dedicated to the payroll of dividends by Ukrainian companies to Ukrainian shareholders.
Removal of the Ukrainian company’s director
Sometimes business owners need to dismiss the director of the company or temporarily strip him of his powers due to loss of trust or to any other reasons. The dismissal can take a lot of time and may be challenged, so we recommend using “removal from the office”. The removal is not a dismissal, and…