The withdrawal of a shareholder from the Ukrainian LLC at his own request can be formalized in the form of an appropriate application, which is followed by a number of legal actions. Registration of an exit from the LLC is governed by the provisions of the Laws of Ukraine “On LLC and ALC“, “On state registration of legal entities, individuals – entrepreneurs and public organizations“, the Civil Code of Ukraine and the charter of the LLC.

To formalize the withdrawal of a shareholder from an LLC, a corporate lawyer will have to perform the following actions:

  1. Obtaining the necessary data and documents of the LLC according to the questionnaire.
  2. Analysis of the procedure for paying a share to a shareholder in accordance with the charter of the LLC, agreeing with the client on the desired procedure for paying a share.
  3. Sending a request to the LLC for the provision of financial statements of the LLC (depending on the existence of a dispute).
  4. Drawing up a power of attorney to represent interests (if necessary) (for non-residents – with apostille / legalization, as well as with a notarized translation).
  5. Preparation of the text and execution of the shareholder’s statement of withdrawal at the notary’s office.
  6. Forwarding to the company an application for the withdrawal of the shareholder from the LLC.
  7. Receiving data from LLC in accordance with Part 6. Art. 24 of the Law of Ukraine “On LLC and ALC“.
  8. Obtaining the consent of other shareholders for the applicant’s withdrawal from the shareholders of the LLC (if the shareholder‘s share is more than 50%).
  9. “Peaceful exit”:
    1. Convening and holding a shareholders meeting (if lawyer accompanies the execution of documents).
    2. Preparation of the shareholders meeting of the LLC, in which it is also necessary to resolve the issue of paying the shareholder his/her share (if lawyer accompanies the paperwork).
    3. Filling out a registration card (if lawyer accompanies the execution of documents).
    4. Coordination of documents with a notary and a client (if necessary) (if lawyer accompanies the execution of documents).
    5. Coordination of the date and time of state registration with a notary (JusticeOffice) and the Client (if a lawyer accompanies the execution of documents).
    6. Submission of documents on registration of the shareholder‘s withdrawal from the LLC.
  10. Accompanying the receipt by the withdrawn shareholder of the due payment (share). Reconciliation of the amount received with the client’s calculations.
  11. “Conflict exit” (refusal of shareholders to hold a shareholders meeting and pay the share due to the shareholder):
    1. Obtaining documents from LLC.
    2. Preparation of documents for the court.
    3. Submission of a statement of claim to the court (together with securing the claim – the seizure of the accounts or property of the LLC).
    4. Litigation.
    5. Execution of the judgment.
  12. Report to the head on the result of the work done.

 

Other legal templates and publications: 

How can a foreigner create an LLC in Ukraine?

Payment of dividends in foreign currency

Creation of an IT company in Ukraine

Annual meeting of the LLC shareholders

Openning representative office in Ukraine

 

 

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