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Financial institutions

Financial institutions

The Department provides a full comprehensive legal support of the non-bank financial institutions - customers of Ukrainian Law Group "Optima".

Our lawyers provide registration of financial institutions, introduction to a single register of the Financial Services Commission, provide recommendation on compliance with the law and the conditions of the license requirements for non-bank financial institutions that provide a full comprehensive legal support of business.


Extensive experience, professionalism and competency at a decent level, allows our lawyers with good quality represent clients in legal relations with the regulatory authorities and contragents of business.



  • Disputes with banks and insurance companies

    The lawyers of our company have developed their own practices of effective protection of debtors in all categories of disputes with banks and successfully tackle the following issues:


    removing the attachment of property;

    imposition/lifting the ban on travel abroad;

    recognition of executive notarial record not enforceable;

    reduction of illegally raised the interest rate of the loan;

    recognition of credit, mortgage contracts null and void;

    mortgage protection of property;

    the stopping/closure of production at cases of debt recovery;

    review of a default judgment;

    the representation in courts of all levels;

    appeal of the actions/inactions of debtors in enforcement proceedings;

    challenging the assessment of property in execution proceedings and decisions on the appointment of an appraiser;

    cancellation of trading, the recognition of rades never took place, etc.


    The settlement of a dispute with the insurance company is possible out of court or by filing a claim for resolution by the court.


    Under the maintenance of disputes with insurance companies our law company provides:


    general advice on insurance matters;

    participation in negotiations with representatives of the insurance companies;

    legal assessment of the actions of insurance companies in case of failure in the insurance reimbursement;

    collection of evidence;

    legal support and execution of expertise;

    preparation and submission of complaints to the relevant authorities;

    the development and drafting of claims, petitions and other documents;

    representation of clients in courts;

    support enforcement proceedings.

  • Credit unions, institutions

    Credit unions and lending institutions are non-bank financial institutions, which an exclusive activity is the issuance of loans from their own and/or borrowed funds. It should be noted that the main difference between these institutions is that credit union - a non-profit organization, the founders and the members of which (at least 50 people at the time of creation) are aimed to mutual credit, and joint characteristics such as living in the same locality, joint work/study and etc. Lending institution - a legal entity, which goal is profit at the expense of loans . Understanding of these key differences between credit unions and institutions is indispensable for the correct choice of those who are going to conduct professional activities in the financial services market. That is the legal form of taxation is determined by the financial institution in particular the credit union as a non-profit organization.


    As for the other differences between credit unions and agencies, it should be noted that the lending institution equity must be at least 1 million UAH. Such demands do not subject to the credit unions.


    But still, choosing the type of financial institutions as a form of business organization, should be aware that credit institutions are created mainly in the form of a limited liability company, so the decision-making procedure is determined by its constituent documents, a credit union a decision-making - is a complex process.


    Without getting a license, the credit institution has the right to grant loans from its own funds. The credit union has the right to grant loans to its members at the expense of equity, association of credit unions, cooperative financial assets association of credit unions. The right to raise funds for the further issue of financial loans and credit union and the establishment acquire under the license.

  • Leasing companies

    The leasing company - it is a legal person, transferring the right of ownership and using of non-consumptive thing (the subject of leasing), certain individual traits and assigned in accordance with the laws of a fixed asset, a natural or legal person (the lessee ) in accordance with the lease agreement.


    Creation of leasing company:


    1. The state registration of legal entities.


    Ukrainian legislation does not include requirements for the legal form of a leasing company, and has no special requirements for the share capital of the company, that is why the registration process does not differs from any other the process of any other entity of the same organizational form.


    2 . Registration of the leasing company at the National Commission on State Regulation of Financial Services Markets of Ukraine.



    a) the subject of activity the "provision of finance lease" should be defined by the constituent documents of the company.


    b ) the subject of activity of the leasing company must comply with the legislation, as well as precepts of National financial services establishing restrictions, in the combination with this type of financial services to others.


    c) the presence at the leasing company of:

    - the internal rules on the provision of services of financial leasing;

    - skilled workers directly involved in the activities of financial leasing;

    - directors (establishers), that have no outstanding convictions for acquisitive crime;

    - a document confirming the right of ownership or use of premises at the location of the leasing company.


    When submitting documents to National Finance Services, the period elapsed since their signing (except for the foundation ) must not exceed one month.


    The decision about taking legal entity in National Finance Services taken no longer than 30 calendar days from the date of receipt of the application and all required documents.

    Implementation of the provision of finance lease does not provide for compulsory acquisition of any authorization document for the leasing company.

  • Investment funds

    Investment funds - it's total assets, which are formed at the expense of investors (individuals and businesses) in order to get profit from the investment of these funds in securities and corporate law, real estate, etc.


    The assets of the investment fund owned by its investors on the rights of co-ownership. The participation of all investors in the investment fund is confirmed ownership of securities of the fund: investment certificates or shares.


    The investment fund is established as a closed joint stock company and provides exceptional work in the field of joint investment.


    Investment funds can be the following:


    - open - created for an indefinite period of time and carry out redemption of it's investment of certificates in the terms, established by the investment declaration of the investment fund;

    - closed - created for a certain period of time and make payments on investment certificates at the end of the term of the investment fund.


    The founders of the investment fund can be both legal and natural persons who are liable to the participants of the investment fund in the value of their shares in the authorized capital held by the depositary, and that may not be offered for sale.


    Creation of an investment fund:


    - the conclusion of the agreement between the founders;

    - approval of the charter;

    - state registration of a legal entity in the legal form of the company.


    The Memorandum defines the order of the founders of joint activities related to the creation of an investment fund, the responsibility of the participants and to third parties.

  • Insurance companies

    Insurance company - it's an organization providing insurance services, acting as an insurer, that is receiving a duty to indemnify the insured for damage to the insured event. The insurance company may carry life insurance, health, property, liability, etc.


    Registration of the insurance company consists of the following stages:


    Registration of legal entities in the form of a joint ccompany or additional-liability company.


    Obtaining the status of financial institutions by making information about the company to the State Register of financial institutions of the National commission of financial services.


    Obtaining a license of the National commission of financial services for insurance activities.


    Mandatory conditions for registration of the legal entity of the insurance company :


    - the number of participants - not less than 3 ;

    - compliance with the charter capital requirements established by law;

    - the formation of capital exclusively in cash resources;

    - compliance of the head and chief accountant of the qualification requirements set by the legislation.


    The license of  National commission of financial services gives the right  for insurance activities at all the territory of Ukraine.

  • Assets management company

    Asset Management Company (AMC) - it's  a legal entity established as a joint stock company or a limited liability company, which provides professional asset management of collective investment institutions (CII) for a fee, the amount of which is determined according to the regulations of the Fund.

    The activities of AMC strictly regulated and limited by law, and is carried out under license of the State Commission on Securities and Stock Market (SCSSM) and may not be combined with other types of professional activities in the securities market.


    The procedure for creating AMC involves the following steps:


    State registration of legal entity in the form of JSC or LLC .

    Obtaining a license  of SCSSM.


    Issuance of the license of SCSSM is possible upon the conditions:


    - approval by the competent authorities of SCSSM of the constituent documents of AMC;

    - the amount of paid share capital of AMC by money meets with the statutory amount of the official exchange rate of the NBU on the date of state registration of the legal entity;

    - senior officials and experts of AMC have been certified within the legally prescribed manner.


    The main functions of the AMC include:

    establishment of mutual funds;

    issue, placement and redemption of securities of CII, the involvement of agents who place/redeem shares of CII among investors;

    management of CII assets;

    analysis of the stock market, real estate and other markets, instruments which are part of CII assets;

    search of a new objects for investment;

    revaluation of assets, registration of contracts of purchase and sale of assets, preparation of reports to state regulators;

    implementation of operating performance of CII.


             Among the advantages of AMC should be noted:

             - preferential tax treatment;

             - the possibility of reducing risk by diversifying the portfolio of the fund;

             - lower operating costs.

  • Factoring companies

    Factoring company - it's a financial institution carrying on behalf of third parties for their own costs or for the cost of such persons, operations on a purchases of a right to demand the fulfillment of commitments in cash a form for delivered goods or services rendered, taking the risk of such claims and received payments, in order to get profit or preserve the real value of financial assets. According to the Law of Ukraine from 12.07.2001 № 2664 -III «On Financial Services and State Regulation of Financial Markets".


    The registration of a factoring company are carried out in 2 phases:


    1. Registration of legal entities - the factoring company:


    - the size of the share capital must meet with the requirements of Ukrainian legislation on financial services;

    - filling of the authorized capital shall be only in cash;

    - in the founding documents must be defined exceptional activities on providing of certain types of financial services.


    2 . Adding of the factoring company in the register of financial institutions Financial Services Commission.


    Basic requirements:

     - the presence of the internal rules on the provision of financial services to some agreements with clients;

    - availability of statutory accounting and reporting in accordance with legislation;

    - availability of skilled personnel directly engaged in providing appropriate types of financial services;

    - availability of the necessary material and technical base (premises, appropriate computer equipment, communications equipment, appropriate software).

  • Lombard

    Lombard - it's a financial institution whose sole activity is the provision of financial loans to individuals for their own or borrowed funds secured by the property for a certain period of time and with interest, as well as the provision of related services of lombard (collateral evaluation, providing mediation services for insurance of the collateral, realization of the collateral).


    Procedure for registration of a pawnshop.


    The state registration of a legal entity - a pawnshop in the form of a general partnership. At this stage it is necessary the compliance of the following conditions:


    legal entity/individual may be a party to only one of a general partnership;

    in the Charter of the pawnshop must be registered full list of planned services;

    the authorized share capital of the pawnshop must be at least 200 000 UAH on the date of the filing  of application for entry of information about it in the State Register of financial institutions.


    State registration of the pawnshop, as a financial institution, carried out by the National Commission performing state regulation of financial services markets (National Commission of finance services).


    For the registration of financial institutions in National Commission of finance services is should be submitted the following documents:


    1. a copy of the memorandum of association (notarized);

    2. a copy of state registration of a pawnshop (notarized);

    3. copies of documents confirming the right of ownership or lease of premises at the location of a pawnshop (notarized);

    4. copies of education certificates and statements of work books of the head and chief accountant of a pawnshop (in the case of part-time - copies of orders of appointment and dismissal of the relevant post);

    5. copy of the certificate of training completion on the training program managers and accountants in financial companies.