What are the main features and requirements of a Representative Office or a Branch?
A representative office is not a separate legal entity and operates in Ukraine on behalf of the foreign company it represents. As with LLC in Ukraine, representative office has to be registered with the Ministry of Economics of Ukraine, the Statistics Department, the tax authorities and pension and social funds. A representative office should also obtain the right to use a seal from the Police department. Once the representative office is registered with the tax authorities and obtained a permit for a seal, it may open accounts in hryvnia and foreign currency in a Ukrainian bank. Representative offices are subject to normal corporate income tax. Nonâcommercial representative office is generally not subject to VAT.
Related Questions
- The field BC_Art lists the individual entries as head office, main branch, or branch. What exactly does this mean and can a financial institution label several branches with the same BC no.?
- Do the license requirements and policies of the Entity List apply to branch office and subsidiaries if the parent company is the listed entity?
- What is the time frame for setting up a representative office or full branch operations?
