Corporate governance and compliance

Compliance has become a condition of access to banking services and international settlements. Companies that cannot evidence a transparent ownership structure find themselves refused service.

When to get in touch

• the bank is asking for documents on the ownership structure and the beneficiaries
• the information on the ultimate beneficial owner needs updating
• the company is subject to primary financial monitoring obligations
• internal policies and customer verification procedures need to be built

What the lawyer does

• analyses the ownership structure and identifies the ultimate beneficial owners
• prepares the documents evidencing the structure for banks and counterparties
• develops internal policies and due diligence procedures
• advises on the obligations of entities subject to primary financial monitoring
• handles dealings with banks in KYC procedures
• builds the corporate governance framework: the division of powers between the company’s bodies, the charter, internal regulations

Legal basis

Obligations in the field of preventing and countering the legalisation (laundering) of proceeds of crime are set out in the Law of Ukraine “On Prevention and Counteraction to Legalisation (Laundering) of the Proceeds of Crime, Terrorist Financing and Financing of Proliferation of Weapons of Mass Destruction”: the financial monitoring system and the entities subject to it in Article 6; the tasks, duties and rights of an entity subject to primary financial monitoring in Article 8; due diligence in Article 11, with enhanced and simplified measures in Articles 12 and 13. Corporate governance in companies is governed by the Law of Ukraine “On Limited Liability and Additional Liability Companies” (the company’s bodies, Article 28; the duties of officers, Article 40).

Legislation and case law are updated over time; this page reflects the position as of August 2026.

Frequently asked questions

Who is an ultimate beneficial owner?

An individual who exercises decisive influence over the company; the definition and the criteria are set out in the financial monitoring legislation, and the information has to be entered in the register.

Why does a company need internal compliance policies?

They reduce the risk of being refused banking services and of sanctions, and for entities subject to primary financial monitoring they are a direct statutory obligation.

Need legal assistance? Call us or leave a request — a lawyer will contact you and explain what to do in your situation.