Is it necessary to obtain a license from the National Bank of Ukraine to create a company abroad?
Over the past few months, there have been a lot of talk about the need to obtain individual licenses of the National Bank of Ukraine in order to incorporate in the West when receiving foreign investment.
Your humble correspondent with the invaluable support of the author of the blog iFinance will tell about it in more detail :)
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An agreement has been reached on receiving investments in the amount of X USD.
A company is created in which the founders are the project team and the investor (who invests the sum of X and receives a share of Y).
UPD. It was decided that the project will not be incorporated in Ukraine. (to whom the other is relevant - the situation with incorporation in Ukraine is considered in the comments ).
In other words, the team (residents of Ukraine) does not invest real money in the company (this is important ... the reasons are lower).
During the negotiations (at their different stages), the opinion is voiced that in order to create a company abroad, the team needs to obtain individual licenses from the NBU (National Bank of Ukraine), otherwise you may get into trouble with certain penalties.
Without any ulterior motive, the team accepts this as an axiom ... but later decides, nevertheless, to stop being “black monkeys” and dig deeper.
A detailed study of the issue showed that in the framework of the original case without licensing, nothing fatal will occur, in general, will not.
Primary sources say:
Obtaining individual licenses of the National Bank of Ukraine (NBU) is necessary for Ukrainian legal entities and individuals for:
It turns out that a startup team that has received an investment and is incorporating in the West may not worry about this topic (even if the investor is domestic; it is licensed, in fact, the withdrawal of foreign currency).
A separate topic is the taxation of the startup team, as residents of Ukraine.
It is important to remember the difference between the taxation of incomes of individuals (salaries, for example) and the taxation of profits of a company established by a person (in practice, many people confuse these things ... their own pocket, practically).
The general principle of paying taxes is that if you pay somewhere once, you don’t need to pay another time.
But here you need to be careful.
The “home” country must uphold these international legal norms.
Ukraine supports. This makes me happy.
Also, it is necessary to take into account the tax rates in different countries (may vary, you need to check).
And finally, the case, when an individual license, nevertheless, was needed .
If a team invests at least 5 kopecks into the company being created, then a license is needed.
If the money is not invested - the license is not needed.
Related Links:
zakon2.rada.gov.ua/laws/show/z0259-99
zakon.rada.gov.ua/cgi-bin/laws/main.cgi?nreg=15-93
zakon1.rada.gov.ua/cgi-bin/laws/main.cgi?nreg=z1413-04&p=1323071753377281
There was an additional commentary explanation:
UPD
Post Continuation - How to choose a state of jurisdiction in the USA by tax rates
.
Your humble correspondent with the invaluable support of the author of the blog iFinance will tell about it in more detail :)
')
Original case
An agreement has been reached on receiving investments in the amount of X USD.
A company is created in which the founders are the project team and the investor (who invests the sum of X and receives a share of Y).
UPD. It was decided that the project will not be incorporated in Ukraine. (to whom the other is relevant - the situation with incorporation in Ukraine is considered in the comments ).
In other words, the team (residents of Ukraine) does not invest real money in the company (this is important ... the reasons are lower).
During the negotiations (at their different stages), the opinion is voiced that in order to create a company abroad, the team needs to obtain individual licenses from the NBU (National Bank of Ukraine), otherwise you may get into trouble with certain penalties.
Without any ulterior motive, the team accepts this as an axiom ... but later decides, nevertheless, to stop being “black monkeys” and dig deeper.
In fact
A detailed study of the issue showed that in the framework of the original case without licensing, nothing fatal will occur, in general, will not.
Primary sources say:
Obtaining individual licenses of the National Bank of Ukraine (NBU) is necessary for Ukrainian legal entities and individuals for:
- Opening and using an account in a foreign bank (outside Ukraine). The procedure for obtaining licenses is established by Decree No. 485 of the Board of the National Bank of Ukraine of October 14, 2004 “On Approval of the Regulations on the Procedure for Issuing the National Bank of Ukraine for Placement of Currency Values ​​on Accounts Outside of Ukraine by Residents (Legal and Individuals)” registered with the Ministry of Justice of Ukraine 5 November 2004, No. 1413/10012
- Transfer of foreign currency outside Ukraine with the purpose of making investments abroad. The instruction on the procedure for issuing such licenses was approved by the Resolution of the Board of the National Bank of Ukraine on March 16, 1999 N 122, registered with the Ministry of Justice of Ukraine on April 26, 1999, N 259/3552.
- The transfer of foreign currency outside Ukraine for payment by individuals - residents of services under contracts (insurance policies, certificates, certificates) of life insurance concluded with non-residents, and the conduct of individual foreign exchange transactions by Ukrainian residents. The regulation on the procedure for issuing individual such licenses was approved by the Resolution of the Board of the National Bank of Ukraine of June 17, 2004 N 266, registered with the Ministry of Justice of Ukraine on July 16, 2004 for N 897/9496.
It turns out that a startup team that has received an investment and is incorporating in the West may not worry about this topic (even if the investor is domestic; it is licensed, in fact, the withdrawal of foreign currency).
Now about taxes
A separate topic is the taxation of the startup team, as residents of Ukraine.
It is important to remember the difference between the taxation of incomes of individuals (salaries, for example) and the taxation of profits of a company established by a person (in practice, many people confuse these things ... their own pocket, practically).
The general principle of paying taxes is that if you pay somewhere once, you don’t need to pay another time.
But here you need to be careful.
The “home” country must uphold these international legal norms.
Ukraine supports. This makes me happy.
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Also, it is necessary to take into account the tax rates in different countries (may vary, you need to check).
And finally, the case, when an individual license, nevertheless, was needed .
Summary
If a team invests at least 5 kopecks into the company being created, then a license is needed.
If the money is not invested - the license is not needed.
Related Links:
zakon2.rada.gov.ua/laws/show/z0259-99
zakon.rada.gov.ua/cgi-bin/laws/main.cgi?nreg=15-93
zakon1.rada.gov.ua/cgi-bin/laws/main.cgi?nreg=z1413-04&p=1323071753377281
UPD 01/13/12
There was an additional commentary explanation:
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Post Continuation - How to choose a state of jurisdiction in the USA by tax rates
.
Source: https://habr.com/ru/post/284666/
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