Setting Up Business Becomes Easier

On 21 April 2011 the Ukrainian Parliament adopted the Law of Ukraine "On Introduction of Amendments to Certain Legislative Acts of Ukraine Regarding Simplification of the Procedure of Establishing Business" (the "Law"). The Law has been signed by the President of Ukraine on 20 May 2011, and thus will become effective in ten days after the date of its official publication.

The Law was adopted to amend various provisions of the Civil Code of Ukraine, the Economic Code of Ukraine, the Law of Ukraine "On Business Entities" and the Law of Ukraine "On State Registration of Legal Entities and Individual Entrepreneurs" dedicated to registration and existence of corporate forms of business in Ukraine.