Myths Shattered: 8 Misperceptions of Doing Business in Ukraine
Mykola Stetsenko, managing partner, AVELLUM Foreign investors often have misperceptions about doing business in Ukraine. Below, I debunk the 5 most common myths, as well as 3 more that reflect the mot recent improvements in the business climate.
Ukrainian Code of Corporate Governance: new guidance for private companies
In the last five years, there has been a revolution in corporate governance in Ukraine. Starting with establishment of Supervisory boards in state – owned enterprises and ending with huge interest from private companies and all business owners; corporate governance has become a trend. Whether it is right or wrong, it is likely to continue. …
Continue reading “Ukrainian Code of Corporate Governance: new guidance for private companies”
Tax reform 2020: How to prepare for the change
The majority of the latest tax changes in Ukraine are based on the best tax experience throughout the world, especially on the BEPS Plan which Ukraine undertakes to implement. The Tax reform prescribes novelties to transfer pricing rules; new rules for preventing from double tax treaties abuse; new rules for preventing from avoidance of the …
Continue reading “Tax reform 2020: How to prepare for the change”
Is there still any future for renewable energy in Ukraine?
In the summer of 2020, Ukraine’s renewable energy market underwent another string of changes, this time mainly because of the “green” tariff reduction. After more than six months of negotiations, “green” energy investors and the government managed to reach some consensus on how to protect the market against the default of the State Enterprise Guaranteed …
Continue reading “Is there still any future for renewable energy in Ukraine?”
The foreign investor in Ukrainian large-scale privatization
In recent years, privatization has risen as a priority for the government of Ukraine. Fundamental to these efforts was the enactment of a law abolishing a list of over 1,000 state-owned enterprises that were not permitted to be privatized. This has removed the last major barriers for launching full-scale privatization.
BEPS implementation in the Tax Code of Ukraine
The widely discussed draft law 1210 has finally been signed by the President of Ukraine and come into effect on May 23 (Law No. 466). This is why business will have to adjust to new rules of the game. The Law mostly aims to implement the main measures under the BEPS Project, which our state …
Continue reading “BEPS implementation in the Tax Code of Ukraine”
Corporate reorganization in Ukraine: consolidations and liquidations
The global financial crisis and the COVID-19 pandemic are impacting businesses all over the world so badly that many operations have stopped, exports have fallen and imports are being replaced by domestic consumption, and international corporations had to put on hold any expansion plans and their forays into other markets. In such an unprecedented situation, businesses …
Continue reading “Corporate reorganization in Ukraine: consolidations and liquidations”
Sayenko Kharenko advises EBRD on EUR 7.5 million financing to Bank Lviv to support Ukrainian SME
Sayenko Kharenko acted as Ukrainian legal counsel to the European Bank for Reconstruction and Development (EBRD) on providing an up to EUR 7.5 million synthetic loan in local currency to Bank Lviv under the EU4Business-EBRD Credit Line. The synthetic structure of the loan provides access to long-term UAH funds to eligible SME borrowers of Bank …
Sayenko Kharenko advises EBRD on EUR 15 million financing to OTP Leasing to support SMEs in Ukraine
Sayenko Kharenko acted as Ukrainian legal counsel to the European Bank for Reconstruction and Development (EBRD) on providing a four-year loan of up to EUR 15 million equivalent to OTP Leasing. The loan will be available for disbursement as a UAH synthetic and/or a EUR denominated facilities. It will enable OTP Leasing to finance long-term …
Covid-19: Emergency Situation Regime in Ukraine
On 25 March 2020, the Cabinet of Ministers of Ukraine resolved at its meeting to introduce the emergency situation regime throughout the country for 30 days.