In order to realize commitments of Ukraine regarding its accession to the WTO, the Law introduces amendments to the Law "On Insurance" appertaining to the registration procedure of insurance and reinsurance brokers non-residents.
The Law cancels the regulation, pursuant to which, insurance and reinsurance brokers non-residents can render services only through permanent representations in Ukraine that have to be registered as tax payers in compliance with Ukrainian legislation, and included into the State register of insurance or reinsurance brokers.
However, insurance and\or reinsurance brokers are to submit a written notification concerning their intention to conduct activity at the territory of Ukraine to an Authorized body.
A relevant Bill (Reg. No. 2014) was registered in The Verkhovna Rada of Ukraine on 06.02.2008.