The deadline for the disclosure ofinformation on the ultimate beneficiaries of legal entities is prolonged till25 September 2015, as the Law on amendments to several legislative acts ofUkraine regarding ultimate beneficial owners of legal entities (hereinafter – “Law”)came into force.

For more details, please refer toour earlier Flash report #22 (which can be found below and in the attachment).

*Law “On amendments to several legislative acts of Ukraine regarding informationon ultimate beneficiaries of legal entities” dated 21 May 2015 No. 475-VIII

Parliamentprolongs the deadline for disclosure of ultimate beneficial owners

On 21 May 2015 Parliament adoptedthe Draft Law on amendments to several legislative acts of Ukraine regardinginformation on ultimate beneficial owners of legal entities (hereinafter –“Draft Law”).

Among the key points addressed by the Draft Law are the following:
  • The deadline for disclosure of ultimate beneficiaries for legalentities is prolonged till 25 September 2015;
  • Disclosure of ultimate beneficial owners will not be requiredwhen a company’s participants are physical individuals only (who are at thesame time its ultimate beneficial owners).

It is expected that the Draft Law will be signed by the President and publishedin the nearest time.

We will continue to monitor the situation and keep you updated on the issue.

*Draft Law“On amendments to several legislative acts of Ukraine regarding information onultimate beneficiaries of legal entities” No. 2896