On 15 April 2014, the Parliament of Ukraine adopted the Law of Ukraine”On Amending Certain Laws of Ukraine for Simplification of BusinessOpening Procedures” (the “Law”), abolishing the mandatoryapplication of seals by the legal entities (the “Seal Requirement”).The Law shall come into force six months after its publication.
The cancellation of the Seal Requirement should simplify, inter alia, establishingbusiness, signing of contracts and notarisation in Ukraine and improve theoverall perception of the business environment by putting an end to an odiousand longly-criticized formality.
The Law will need to be signed by the President of Ukraine and published inthe official parliamentary newspaper.