Changes to deadlines for submitting information about beneficiaries during martial law

28/07/2022

Considering the state of war, the Cabinet of Ministers of Ukraine, by its Resolution No. 209 of March 2022, extended the deadlines for submitting information on beneficial owners. Thus, information on beneficial owners can be submitted both during the entire period of martial law and within one month from the day of its termination.

However, such mitigation does not apply to:

banks, non-banking financial institutions, and entities that are not financial institutions, but have the right to provide separate financial services (except for postal operators);
legal entities whose founder (participant) and / or ultimate beneficial owner is (or will be), as a result of the relevant changes, the Russian Federation, citizen of the Russian Federation, or legal entity set up and registered in accordance with the legislation of the Russian Federation.

How we can help

If you have any questions related to the procedure for submitting information about beneficial owners or if you plan to submit such information in the near future, we recommend contacting us. SCHNEIDER GROUP experts will advise you on the legal features of this process in wartime.

About SCHNEIDER GROUP

Since 2006 SCHNEIDER GROUP has been supporting international companies expanding to Ukraine. Our portfolio includes a full scope of services: from market analysis and partner search to complete accounting outsourcing, legal and tax consulting, and interim management services. We take over all non-core business functions so that our clients can focus on developing their business. We help our clients establishing subsidiaries in Ukraine compliant with local legislative requirements and transparent for international management. Our experts offer advice on best practices to optimise processes, reduce risks and minimise costs.

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