Financial companies – registration, maintenance, sample documents for financial monitoring

Our law firm provides services to clients who are planning to work or are already working in the financial services markets, in particular:

1. Services for the creation of financial companies (financial institutions) that plan to engage in the provision of the following financial services:
   • attraction of financial assets with an obligation regarding their subsequent return;
   • financial leasing services;
   • the provision of funds on loan, including on the terms of a financial loan;
   • provision of guarantees and sureties;
   • provision of factoring services;
   • property management for financing construction projects and / or real estate operations in accordance with the Law of Ukraine “On financial and credit mechanisms and property management in housing construction and real estate transactions”;
   • trust management of financial assets.

2. Procedure for creating a financial company usually consists of three stages:
   • preparation of the charter of the financial company, other mandatory documents and their submission for state registration of the financial company as a legal entity.
     At this stage, the issues of how the founder will form the authorized capital of a financial company in accordance with the requirements of the law are also resolved;
   • preparation of a package of documents for submission to the National Committee, which implements state regulation in the sphere of financial services markets (hereinafter referred to as National Financial Services Committee) for entering a financial company into the register of financial institutions.
     In accordance with the requirements of the legislation, documents in the National Financial Services Committee must be submitted within 30 calendar days from the date of state registration of the financial company as a legal entity.
     At this stage, the financial company is also registered in the State Financial Monitoring Service of Ukraine;
   • preparation of a package of documents for submission to the National Financial Services Committee for a financial company to obtain a corresponding license for the right to provide the types of financial services.

3. Development of a package of documents that are mandatory for financial companies as subjects of financial monitoring.

   As a rule, a financial company must develop and approve about 15 mandatory documents related to financial monitoring.

4. Development of internal standard documents necessary for the work of financial companies.

   These are standard contracts, rules, orders and other administrative documents.

5. Development of legal schemes and work models in which financial companies are used as one of the elements in structured business operations in accordance with customer needs.
6. Providing legal advice on matters relating to the activities of financial companies and their taxation.
7. Appeal of decisions of National Financial Services Committee on administrative or judicial procedures.
8. Legal and tax audit (due diligence) of operating financial companies.

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