FINAL BENEFICIAL OWNER (CONTROLLER) - a natural person who, regardless of formal ownership, has the ability to exert a decisive influence on the management or economic activity of a legal entity directly or through other persons, which is carried out, in particular, by exercising the right to own or use all assets or a significant part of them , the right to decisive influence on the formation of the composition, voting results, as well as the execution of transactions that provide the opportunity to determine the conditions of economic activity, give mandatory instructions or perform the functions of a management body, or which has the ability to exert influence directly or indirectly (through another individual or legal entity) ownership by one person alone or jointly with related individuals and/or legal entities of a stake in a legal entity in the amount of 25 percent or more of the authorized capital or voting rights in the legal entity.

(Law of Ukraine "On Prevention and Counteraction of Legalization (Laundering) of Criminal Proceeds, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction").

 

In accordance with the adopted 19.03.2021 order of the Ministry of Finance of Ukraine No. 163 "On approval of the Regulation on the form and content of the ownership structure" - all legal entities are obliged to keep information about their beneficial owners up to date and update it within 30 days from the date of changes.

 

To do this, it is necessary to schematically display all persons who directly or indirectly own a legal entity independently or jointly with other persons in an arbitrary form.

 

The Law of Ukraine "On Amendments to Certain Legislative Acts of Ukraine Regarding Determination of Ultimate Beneficiaries of Legal Entities and Public Figures", which entered into force on November 24, 2014. (the so-called "beneficiary law") obliges to disclose its ultimate owners not only during the state registration of a legal entity, but also to update (change) this information every time in the event of state registration of a change of participants (founders) of a legal entity, or to inform about the absence of such ultimate beneficial owner, or to indicate information about his absence.

               

However, there are exceptions to this rule, so THE SPECIFIED INFORMATION IS NOT PROVIDED: 

 

1) legal entities whose registration application for state registration does not include information about the ultimate beneficial owner (controller) in accordance with the law. These are: public formations, bar associations, chambers of commerce, associations of co-owners of apartment buildings, religious organizations, state bodies, local self-government bodies, their associations, state and communal enterprises, institutions, organizations.

 

2) legal entities whose founders (participants) are exclusively natural persons, if the ultimate beneficial owners of such legal entities coincide with their founders (participants). In this case, the founders (participants) – natural persons are the beneficial owners (controllers) of such a legal entity. 

 

RESPONSIBILITY:

- according to Article 166-11 of the Code of Administrative Offenses of Ukraine: non-submission by a legal entity to the state registrar of information about the ultimate beneficial owner (controller) of a legal entity - entails the imposition of a fine on the head of a legal entity or a person authorized to act on its behalf by a legal entity from UAH 17,000 to UAH 51 000.

 

TO ORDER THE SERVICE FOR DISCLOSURE OF INFORMATION ABOUT THE OWNERSHIP STRUCTURE OF A LEGAL ENTITY (FINAL BENEFICIAL OWNER), IT IS NECESSARY TO PROVIDE THE FOLLOWING INFORMATION:

- name of the legal entity, identification code of the legal entity;

- information about the final beneficiary (passport data, residential address).