Individual licensing of certain currency transactions

A Ukrainian company is required to obtain an individual license from the National Bureau of Ukraine in respect of the following transactions:

• making an investment abroad, including establishment of a subsidiary company in another country and transferring capital to finance its operation; transferring funds for representative office maintenance according to its cost estimate is not considered as investment. The NBU licenses are not required if settlements for purchasing any tangible and intangible assets are made in UAH within Ukraine.
• crediting funds to bank accounts opened abroad;
• purchasing shares of non-residents in cash, etc. Is there a requirement for articles of association? If so, add here please!

Requirements for article of association:

According to Article 4 of the Law of Ukraine “On economic communities”, as amended on October 6, 2016, the following information should be icludedincluded in the Charter of the company (article of association):

• form (type) of the economic community (legal entity);
• information on the goals and on the subject of its business activity;
• name;
• the composition of the founders;
• the size and order of the formation of the authorized fund (capital);
• the rules of distribution of income and expenses (losses);
• the competence and composition of the established management bodies;
• the rules or process of approval of decisions, together with the list of issues, which need to be approved by absolute majority of votes.; – the order in which the founders sign the Charter (noteworthy);
• rules for editing the Charter;
• the procedure for liquidation of a legal entity or its reorganization.

According to the law of Ukraine “On economic communities”, and in accordance with the law of Ukraine “On state registration of a sole proprietorship, legal entities and public organizations”, the Charter company before the registration must be stitched, numbered, and signed.

Source:

• Law of Ukraine “On Economic communities
• Law of Ukraine “On state registration of legal entities, individual entrepreneurs and public asssociations”