The Law introduces a new risk-oriented financial monitoring approach similar to EU anti-money laundering standards. Here are the principal elements of the Law relevant to business: 1) The definition of ultimate beneficial owner (“UBO”) has been widened. The list of persons who are deemed UBOs of a trust was extended to include a founder, trustee, protector, beneficiary or group of beneficiaries of the…
Read MoreThe Law was signed by the President on 1 April and will become effective after it is published (which is expected to happen imminently). The most notable changes for business are: Extension, for the whole period of quarantine, of: most types of statutes of limitations; most procedural terms (e.g. terms for the review of the case by the court, terms…
Read MoreThe Ukrainian Parliament has passed the Law No. 2178-10 (becoming effective from 1 July 2021) introducing certain changes into the Land Code of Ukraine, aiming to lift the existing moratorium in relation to transactions involving agricultural land plots in Ukraine. By way of background, the existing moratorium prohibits: sale and purchase of state-owned and municipally owned agricultural land plots; sale and purchase or other…
Read MoreDue to the outbreak of COVID-19, the Ukrainian Parliament adopted Law No 3220 dated 16 March 2020 “On amendments to the Tax Code and other legislation to support taxpayers during the measures preventing spread of COVID-19” (“the Law”). The Law has yet to be signed by the President and will become effective from the day following its official publication. Some of the supportive measures…
Read MoreOn 26 February 2020, the Government of Ukraine approved procedures to allow private companies to operate in the Ukrainian space technology market. Specifically, Ukraine not only allowed private companies to carry out such activities, but also significantly simplified permitting procedures. Any company that wishes to conduct any space technology activities in Ukraine must submit a declaration (the “Declaration”) to the…
Read MoreOn 16 January 2020, the Ukrainian Parliament adopted law No 1210 “On amendments to the Tax Code related to the improvement of tax administration and elimination of technical and logical inconsistencies in the tax legislation” (the “Law”). It is likely that the President will sign the law in early to mid-February. The most significant changes in the Law include: I….
Read MoreThe Law of Ukraine “On Amendments to Certain Legislative Acts of Ukraine on Improving the Legal Protection of Geographical Indications” 123-IX dated 20.09.2019 (hereinafter the “Law”) introducing amendments to the procedure of registration, use and protection of geographic indications in Ukraine entered into force on 1 January 2020. Principal changes introduced by the Law: From now on, geographic indications will only be…
Read MoreRedcliffe Partners is pleased to announce the promotion to partner of Anastasia Usova, who leads the firm’s Antitrust practice. “This is a well-deserved promotion and a testament to our core values at Redcliffe – we appreciate seamless expertise, continuous professional development and contribution to success of our firm”, Managing Partner Olexiy Soshenko said. “Anastasia has a stand-alone profile among Ukrainian antitrust lawyers….
Read MoreOn 22 May 2019, law No 2712-VIII “On Amendment of the Laws of Ukraine in Regard to Ensuring Competitive Terms of Electricity Production from Renewable Energy Sources“ (the “Law”) became effective, which contemplates the introduction of renewable energy auctions in Ukraine. The Law provides the general framework and certain core elements of the auction system as set out below. (a)…
Read MoreOn 3 March 2017, the new requirements were enacted in Ukraine related to the quality control of new construction, reconstruction and repair works of the motor roads of general use, approved by Resolution No.1065 of the Cabinet of Ministers of Ukraine on 28 December 2016 (the “Resolution“). The Resolution factors in a consulting engineer into the system of quality control and…
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