Registration of leasing companies

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    Registration of a leasing company with a license for financial leasing in Ukraine.

    A leasing company is a financial institution that provides equipment, vehicles, or real estate to businesses or individuals for a fixed period of time. The lessee, or the party receiving the asset, makes payments to the lessor, or the leasing company, over the term of the lease. Leasing companies are essential for businesses that need to acquire assets without the high upfront costs of purchasing them outright. In Ukraine, leasing companies are governed by the Law of Ukraine “On Financial Leasing” and are regulated by the National Bank of Ukraine (NBU). This text will discuss the activities of leasing companies in Ukraine, as well as the registration and licensing procedures.

    What is a leasing company and why is it needed?

    Leasing is an alternative method of financing that allows businesses to acquire assets without the need for significant upfront capital investment. Leasing companies purchase assets and then rent them out to businesses or individuals over a fixed period of time. The lessee makes regular payments to the lessor, which includes interest and other fees, until the end of the lease term. At the end of the lease term, the lessee has the option to purchase the asset at a discounted price or return it to the lessor.

    Leasing companies are needed for a variety of reasons. For businesses, leasing can be an attractive option because it allows them to acquire necessary equipment or property without the need for large cash outlays. Additionally, leasing can be more tax-efficient than purchasing because lease payments are typically deductible as a business expense. For individuals, leasing can be a convenient way to obtain a vehicle without the need for a significant down payment.

    Activities of leasing companies in Ukraine.

    In Ukraine, leasing companies can offer financial leasing, operational leasing, and sale and leaseback services. Financial leasing is the most common type of leasing in Ukraine and involves the leasing company purchasing an asset and renting it out to the lessee for a fixed period of time. At the end of the lease term, the lessee has the option to purchase the asset at a discounted price. Operational leasing is similar to financial leasing, but the leasing company is responsible for maintenance and repairs on the leased asset. Sale and leaseback services involve a business selling an asset to a leasing company and then leasing it back for a fixed period of time.

    How to register a leasing company in Ukraine. Registration procedure.

    To register a leasing company in Ukraine, the following steps must be taken:

    Step 1: Choose a legal form of the company.

    Before registering a leasing company, you must choose a legal form for the company. This can be a limited liability company (LLC) or a joint stock company (JSC). An LLC is the most common legal form for leasing companies in Ukraine because it provides limited liability for the owners and is relatively easy to establish.

    Step 2: Choose a name for the company.

    The name of the leasing company must be unique and not already registered in Ukraine. The name must also be in Ukrainian or have a Ukrainian translation.

    Step 3: Draft the company charter.

    The company charter is a legal document that outlines the company’s activities, ownership structure, management, and other key details. The charter must be in Ukrainian and comply with Ukrainian law.

    Step 4: Register the company with the State Registrar of Legal Entities and Individuals-Entrepreneurs.

    To register a leasing company, you must submit the company charter, the founders’ documents, and other required information to the State Registrar of Legal Entities and Individuals-Entrepreneurs. The registration process typically takes two to three weeks.

    Step 5: Obtain a taxpayer identification number.

    After registering the company, you must obtain a taxpayer identification number (TIN) from the tax authorities.

    Step 6: Register with the Pension Fund of Ukraine.

    All Ukrainian companies are required to register with the Pension Fund of Ukraine to ensure compliance with pension contributions for employees.

    Step 7: Open a bank account.

    The leasing company must open a bank account in a Ukrainian bank and deposit the minimum statutory capital required by law. The minimum statutory capital for an LLC is UAH 120,000 (approximately USD 4,300), and for a JSC, it is UAH 1 million (approximately USD 36,000).

    Step 8: Register with the State Fiscal Service of Ukraine.

    Leasing companies must register with the State Fiscal Service of Ukraine and obtain a VAT registration number.

    Step 9: Register with the National Bank of Ukraine.

    Leasing companies must register with the National Bank of Ukraine and provide the necessary documents and information, including the company charter, founding documents, and details of the company’s management and shareholders.

    Step 10: Obtain a leasing license.

    Once the company is registered and approved by the National Bank of Ukraine, it must obtain a leasing license to operate in Ukraine.

    The procedure for obtaining a license for leasing activity in Ukraine.

    To obtain a leasing license in Ukraine, the following steps must be taken:

    Step 1: Prepare the necessary documents.

    The leasing company must prepare a package of documents, including the application for a leasing license, the company charter, the founders’ documents, and other required information.

    Step 2: Submit the application to the National Bank of Ukraine.

    The leasing company must submit the application and supporting documents to the National Bank of Ukraine. The application must be in Ukrainian and include information about the company’s management and shareholders, its business plan, and its financial projections.

    Step 3: Pay the licensing fee.

    The leasing company must pay a licensing fee, which is currently set at UAH 4,400 (approximately USD 160).

    Step 4: Wait for the decision.

    The National Bank of Ukraine will review the application and make a decision within 60 days of receiving the application. If the application is approved, the leasing company will receive a leasing license.

    Conclusion.

    Registering a leasing company in Ukraine can be a lengthy and complicated process, but it is essential to comply with the legal requirements and obtain the necessary licenses to operate in the country. One of the quick methods of opening a leasing business in Ukraine is to buy a ready-made leasing company with a license. Leasing companies in Ukraine can offer financial leasing, operational leasing, and sale and leaseback services to businesses and individuals, and can be an attractive alternative to traditional financing methods.

    By following the registration and licensing procedures outlined in this text, potential leasing companies can establish a legal and compliant business in Ukraine.

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