doing business 2016 / finfacts.ie
Ukraine's Cabinet of Ministers has published the 2016 action plan aimed at improving the country's position in the World Bank's Doing Business ranking, which reflects the efficiency of regulatory institutions being crucial in determining the ease of doing business in the country, according to a government resolution published on its website.
Ukraine seeks to enter the top 20 of the Ease of Doing Business rank, as noted in the document. The ministries are required to promptly publish information on their websites regarding progress made in implementing the action plan.
The resolution outlines key objectives, namely: the creation of the service of online registration within 24 hours for legal entities; provision of a free access to the State Register of Encumbrances over Movable Property. The document also specifies a number of issues to simplify and facilitate the resolution of court cases with money claims. In order to safeguard investors' interests, the government proposes that potential buyers of a 50% stake in joint-stock companies should be committed to make an offer to all the shareholders, and when acquiring a 50% stake in a limited liability company they should make an offer to all participants in a given company.
It is noted that the government will carry on activities to simplify and expedite the connection of companies to the power grid; reduce the period necessary to obtain construction permits, as well as the period to register the transfer of real property ownership rights; facilitate exports and imports of goods; simplify tax and fiscal payments procedures for companies.
As UNIAN reported earlier, the Ukrainian government on December 16 approved a road map for deregulation, which will enable Ukraine to improve its position in the 2017 Doing Business ranking by entering the top 50 countries based on the ease of doing business, and the top 20 in the 2018 Doing Business ranking.
As UNIAN reported earlier, Ukraine advanced 13 positions to rank 83rd on the Ease of Doing Business Index created by the World Bank Group. At the same time, connection to the grid, obtaining construction permits, conducting cross-border trade and bankruptcy procedures remain the problematic issues for businesses in Ukraine.