“Alt-Brayer” is doing all these types of the legal aid in questions of state registration. Are you going to develop own business in the financial sphere? We will tell you how to register finance company, having spent on it the minimum of time. We suggest talking how the general order of registration looks and that in this respect tell us the Ukrainian laws for a start.
Order of registration of finance company in Ukraine
In-laws procedure of registration is provided as rather difficult a multistage process which begins creation of the legal person and comes to the end with the registration of the document in state instance.
Let’s consider this algorithm in more detail.
- registration of finance company starts with preparation of the package of documents with which you go to the relevant organisation and register the new legal entity there;
- You establish the size of the authorised capital and create it;
- you prepare internal regulations, agreements and instructions to go with it to state instance;
- you go to the commission where you submit the necessary application.
Types of financial institutions
Financial organisations in Ukraine can be several types. Laws provide, at least, fourteen possible options of the financial institution. So, the similar company can be:
- bank or credit union;
- credit non-bank institution;
- leasing company;
- insurance or factoring company;
- the non-state pension fund or confidential society;
- investment fund or the company managing assets;
- Managing finance company, etc.
Types of service, provided by financial institutions
Specifics work of finance companies consists that the range of their services can be very wide and specifically each organisation can concern the question of finance to a greater or lesser extent.
Therefore, it is very important to understand what types of financial activity without fail shall be licensed and what can be undertaken without this resolving document.
Without licence you will be able:
- issue loans and the credits if your own means are used;
- attract assets from legal persons;
- be engaged in factoring and the guarantee;
- Provide guarantees.
And here for what it without fail is required to you:
- crediting at the expense of that money which you attract from the outside;
- pension payment;
- the process of attraction of assets from natural persons;
- Work in the field of financial clearing and the currency exchange.
Requirements to finance company during registration
Legal requirements are imposed on the registered finance companies by the number of criteria. First of all, this availability of the authorised fund which shall not be below accurately established a minimum threshold, besides, is certain requirements to candidates for supervisory positions and to the hardware of the company. And now in more detail.
Size of authorised capital of financial institution
The uniform requirement for all finance companies in the law does not exist – after all wrong to establish the identical minimum for the enterprises which work in essentially different spheres. So, for example, the owner of the pawnshop shall take care of authorised capital of two hundred thousand UAH, and, here, for founders of the bank this figure reaches already hundred twenty million.
Requirements to the director and chief accountant of financial institution
It is unambiguous to answer such question rather difficult – selection criteria and directors, and accountants will strongly differ depending on the chosen field of activity.
The only requirement which can be considered universal is the availability of the corresponding education and the minimum experience, and also a lack of criminal records and “dark stains” of the business biography.
Requirements to personnel of financial institutions
By and large, the same mechanisms, as in the case with executive positions – relevant formation, experience and reputation, positive from the legal position, operate here.
Requirements for technical equipment and software
On this point Ukraine, to be exact, its laws impose to finance company the same requirements, as to any other. The software shall be strictly licenced, and technical equipment shall create conditions for the normal accomplishment of production tasks.
- Registration of finance company in “Alt-Brayer” is carried out within the complete cycle. That is, we perform all necessary legal operations – from creation of the legal person before final registration;
- Registration of finance company is carried out by us personally. In other words, we do not use services of intermediaries and contractors – we have enough own professional resource for effective solution of objectives;
- we apply unique algorithm of registration to each client, and it means that regardless of the situation we try to obtain the maximum productivity;
- Registration of finance company for us is not just set of legal transactions, but, first of all, responsibility for the client and competent protection of its business interests!