Do businesses need to disclose information about the ownership structure and their ultimate beneficial owners?

Yes, businesses are required to disclose information about the ownership structure and ultimate beneficial owners (UBOs).

• According to Ukrainian legislation, legal entities must ensure that the information about UBOs and the ownership structure is up to date in the Unified State Register of Legal Entities, Individual Entrepreneurs, and Public Associations.

During martial law, these requirements remain in effect. Specifically, legal entities must:

• Keep the information about UBOs and the ownership structure current.
• Notify the state registrar of any changes to this information within 30 working days from the occurrence of the changes.
• Annually confirm the information about UBOs and the ownership structure.

Failure to comply with these obligations may result in administrative liability, including fines.