The primary purpose of the Law is cheapening and simplification of business start-up in Ukraine. Therefore, it cancels the legal body and sole proprietor state registration certificates. To confirm the state registration, the data from the Single State Register of Legal Bodies and Sole Proprietors shall be used. If it is necessary to confirm the status of a legal entity, the statement from the Single State Register of Legal Bodies and Sole Proprietors or its copy can be used. It abolished the requirement for a notarized copy of a document proving the state registration, as the applicant bears criminal responsibility for the submitted data.
The amendments also cancel collection of fees for the receipt of statements from the Single State Register of Legal Bodies and Sole Proprietors during the state registration of a legal body or a sole proprietor; amendments to the constituent documents of legal body; amendments to the data on sole proprietor in the Single State Register of Legal Bodies and Sole Proprietors upon court judgment on bankruptcy.
The draft is registered under Reg. No. 7516.