EVERLEGAL Successfully Defended Client Interests in Several Cases Involving UBO Information in the State Register
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16.04.2025 272
EVERLEGAL Successfully Defended Client Interests in Several Cases Involving UBO Information in the State Register
The EVERLEGAL team achieved the removal of notes regarding potential inaccuracies in Ultimate Beneficial Owner (UBO) information from the Ukrainian State Register (EDR) for several Ukrainian companies. This result helped our clients maintain their business reputation, continue financial operations with banks and other institutions without disruption, and avoid regulatory risks.
Case Background:
In 2024, several Ukrainian companies received requests from state registrars to provide written explanations due to possible inconsistencies in UBO data, flagged by primary financial monitoring agents, particularly banks.
In some cases, this involved a potential presence of UBOs despite the register indicating their absence. In others, concerns were raised about discrepancies between listed and actual UBOs.
In some cases, this involved a potential presence of UBOs despite the register indicating their absence. In others, concerns were raised about discrepancies between listed and actual UBOs.
EVERLEGAL Team's Work:
EVERLEGAL lawyers:
- Analysed Ukrainian legislation as well as the laws of jurisdictions where the parent companies and affiliated structures are registered;
- Explored the specific requirements for identifying UBOs of foreign public companies, trusts, and other trust-like structures (e.g., funds);
- Reviewed the ownership structures of Ukrainian companies, supporting documentation, public data, and interrelations within the group structure;
- Prepared legally convincing responses with a complete evidence package, submitted to the state registrars.
As a result, the Ministry of Justice of Ukraine agreed with the lawyers' arguments and instructed the removal of the non-compliance marks from the USR.
Why is this important for business?
This outcome:
- Helped clients avoid being classified as high-risk by banks;
- Prevented potential bank account blocks or transaction refusals;
- Reduced the risk of banks terminating business relationships;
- Removed the threat of license or permit suspensions;
- Confirmed the transparency of ownership structures and compliance with UBO regulations.
Project Team:
- Yevheniy Deyneko, Managing Partner
- Andriy Olenyuk, Partner
- Iryna Plukar, Senior Associate
- Vladyslav Shulkin, Associate
We are ready to support your business in complex matters related to interaction with state authorities, banks, and financial institutions.Contact us at hello@everlegal.ua or fill in a short form at the LINK.
