Ukraine > Legal market overview
Many sectors of Ukraine’s economy remain stifled by global economic trends, but its long-term prospects are positive: the country is set to sign a free trade agreement with the European Union, and has concluded trade deals with Russia and other CIS countries.
Corporate, real estate, banking and finance deals are still less abundant than before the global financial crisis, although it is noticeable that private equity funds are turning their attention to Ukraine. Dispute resolution is a far busier practice area, not least because the new tax code is being aggressively enforced.
The political situation remains challenging, with former Prime Minister Yulia Tymoshenko recently having been imprisoned. The change of regime has been followed by a tightening of regulations, putting the emphasis on compliance for foreign and domestic companies.
Prominent firm Magisters, which had experienced difficulties since the 2010 election because of close ties to the previous political regime, merged with leading Russian firm Egorov Puginsky Afanasiev & Partners to create a powerhouse across the CIS region. Its lawyers are highly regarded.
The local legal market has some other excellent firms, including Sayenko Kharenko and Vasil Kisil & Partners, and domestic firms in general are becoming more influential on cross-border deals. Some newer firms have quickly built a strong presence, including Avellum Partners, which has an excellent reputation. EnGarde Attorneys at Law has become popular for corporate and dispute resolution work, as has Ulysses for tax matters.
Ilyashev & Partners is recognised as Ukraine’s most profitable firm per equity partner, and Integrites International Law Firm is the first Ukrainian law firm to be registered with the Law Society of England and Wales, and is entitled to manage cross-border deals under English law.