Order of the Ministry of Justice “On Amendments to Order of the Ministry of Justice of Ukraine No. 3268/5 of November 18, 2016” dated June 29, 2021. No. 2320/5 entered into force on July 11, 2021.

Following the approval by Order of the Ministry of Finance No. 163 of the forms and content of the ownership structure, the Ministry of Justice corrected the commented document and registration forms for legal entities.

Starting from July 11, 2021, it is necessary to submit forms in the new version to the state registrar:

The main changes include the following:

  • from Forms 2 and 4 the page with additional information about the ultimate beneficiary of the founder was removed.

Now in these registration forms, you will only need to specify the ultimate beneficial owner of the entity itself. After all, at this time, all “intermediate” beneficiaries (that is, the beneficiaries directly of the entity and its founders) are disclosed in the ownership structure. And it is from this document that it will be necessary to determine the “ultimate” beneficial owner, information about which we submit to the state registrar.

Another important point: as follows from the notes in the forms themselves, you will only need to fill out full information about the beneficiary (page 2) in case of updates. Therefore, if the forms are marked “up-to-date” at the time of submission, you do not need to fill out the main part.

All legal entities engaged in financial transactions must disclose their ultimate beneficiaries. It is in order to update the relevant information in the Unified State Register together with supporting documents that the state registrar must submit:

  • application for state registration of a legal entity (except for public formations and authorities) (Form 2) or an application for state registration of a legal entity — a public formation (Form 4);
  • ownership structure by form and content according to Order No. 163;

In general, this must be done before October 11, 2021, followed by annual confirmation.

After all, this is one of the key requirements of financial monitoring legislation (first of all, Law No. 361), and for its non-fulfillment, a fine is provided in the amount of UAH 17,000 to 51,000 (Article 16611 of the Code of Ukraine on Administrative Offences).