Specifics of ultimate beneficiary owners filings in Ukraine

December 2022The requirement to file information on the ultimate beneficial owners (UBOs) of legal entities was introduced by the Law of Ukraine "On Prevention and Counteraction of Legalization (Laundering) of Criminal Proceeds, Financing of Terrorism and Financing of the Proliferation of Mass Destruction Weapons" dated 06.12.2019 No. 361-IX.

With the start of the full-scale invasion by the Russian Federation and the introduction of martial law in Ukraine, the requirement to disclose information about UBOs was suspended.

On 6 September 2022, Ukraine’s Parliament adopted the Law of Ukraine "On Amendments to Certain Laws of Ukraine on Improving the Regulation of Ultimate Beneficial Ownership and the Ownership Structure of Legal Entities" No. 2571-IX, which comes into force on 29 December 2022 and introduces a number of changes to the procedure for disclosing the ownership structure and information about UBOs.

The article providing an overview of the recent changes was originally published in issue №45 of "Yuryst & Zakon" ("Юрист і Закон") on 17 November 2022 and is available in the Ukrainian language only.

Please click here to read the whole article.


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