13:37 10.09.2015

Some 200,000 companies haven’t presented information on ultimate beneficiaries – justice ministry

1 min read
Some 200,000 companies haven’t presented information on ultimate beneficiaries – justice ministry

Around 200,000 companies had not presented information on their ultimate beneficiaries as of early September, Director of the State Registration Department of the Justice Ministry of Ukraine Serhiy Benedisiuk has said.

"Around 200,000 companies had not presented data [on ultimate beneficiaries] a week ago. With a high likelihood we can say that these companies which are not operating, but which their owners decided not to liquidate, taking into account the complicacy of the liquidation process. These companies are formally on the register, but they do not operate," he said at a roundtable meeting in Kyiv on Wednesday.

Benedisiuk said that "if 100,000 out of these 200,000 companies would submit information, this is still a lot, especially taking into account the fact that these companies are located in large cities."

He also said that the term for submitting information on ultimate beneficiaries to the state registrar will not be postponed again, adding that companies should submit this information on time.

He said that there are currently around 1.5 million companies registered in Ukraine.

As reported, the term of submitting information on ultimate beneficiaries to state registrars was postponed for four months until September 25.

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