Legal entities, including banks, registered as joint stock companies or limited liability companies, are eligible to obtain a license.
The initial capital of an applicant intending to engage in or conducting depository activities of a depository institution must be no less than UAH 4 million, and for conducting activities related to the safekeeping of assets of joint investment institutions – no less than UAH 25 million.
The size of an applicant bank’s initial capital must be no less than the regulatory capital amount set by the National Bank of Ukraine.
To obtain a license to conduct depositary activities, a legal entity must have a paid-up authorized capital of no less than UAH 7 million.
The share of another depository institution or investment firm in the authorized capital of a depository institution must not exceed 5 percent.
The total area of non-residential premises for a licensee to conduct depository activities of a depository institution, consisting of separate rooms, must be no less than 20 sq. m. At the same time, such premises must comply with the requirements established for this type of professional activity and have an operating room for conducting this activity. The requirements for the premises of a separate division of a depository institution are the same as those for the premises of a depository institution.
The total area of the non-residential premises of a depositary institution for conducting depositary activities, namely the storage of assets of joint investment institutions and depositary activities of a depositary institution, which consists of separate rooms, must be no less than 40 sq. m.
The total area of non-residential premises of a depositary institution for conducting activities related to trading in financial instruments and depositary activities, namely depositary activities of a depositary institution, activities related to the storage of assets of joint investment institutions, consisting of separate rooms, must be no less than 60 sq. m. The total area of non-residential premises of a depositary institution, consisting of separate rooms, for conducting activities related to trading in financial instruments and depositary activities of a depositary institution must be no less than 40 sq. m.
If a depositary institution organizes its activities through separate and/or specialized structural divisions that are an integral part of its internal organizational structure and located in a different place than the depositary institution, the total area of non-residential premises for each such division must be no less than 15 sq. m.
Premises are considered completely separate if they are not simultaneously used by other legal entities, public organizations without legal entity status, and sole proprietors.
A complete list of requirements for applicants/licensees is contained in the relevant regulatory documents:
Resolution of the National Securities and Stock Market Commission dated 21 October 2021 No. 982 “On Approval of the Procedure for Issuing, Suspending, and Terminating Licenses for Professional Activities in Capital Markets,” registered with the Ministry of Justice of Ukraine on 03 December 2021 under No. 1563/37185;
Resolution of the National Securities and Stock Market Commission dated 10 February 2022 No. 114 “On Approval of Licensing Conditions for Professional Activities in Capital Markets – Depository Activities”, registered with the Ministry of Justice of Ukraine on 15 April 2022 under No. 431/37767.
