A legal entity that intends to engage in professional activities in the stock market and whose founder is a foreign legal entity shall submit to the National Commission for Securities and the Stock Market, in addition to the documents specified in part two of this Article, for obtaining a license for the conduct of a corresponding type of such activity:

  • a copy of the decision of the authorized body (person) of the management of a foreign legal entity on participation in a professional participant in the stock market in Ukraine;
  • written permission for the participation of a foreign legal entity in a professional participant in the stock market in Ukraine issued by the authorized controlling authority of the state in which the head office of a foreign legal entity is registered if the legislation of such a state is required to obtain the said permit or written assurances of a foreign legal entity in the absence of the relevant law the state requirements for obtaining such a permit;
  • an extract from a commercial, bank, judicial record or other official document confirming the registration of a foreign legal entity in the state where its head office is registered;
  • a copy of the auditor’s report of the auditor of a foreign state on the financial condition of the foreign legal entity at the end of the last full calendar year.

A legal entity that intends to engage in professional activities in the stock market and whose founder is a natural person, a foreigner, in order to obtain a license for the conduct of the corresponding type of such activity, in addition to the documents specified in part two of this Article, shall submit to the Commission written permission for the participation of an individual – An alien is a professional member of the stock market in Ukraine, issued by the authorized controlling authority of the State in which he has a permanent residence, if the legislation of such a state is required to receive the enoho permit or written assurance of the absence of legislation the State requirements for obtaining a permit.

Documents submitted by a foreign legal entity and a natural person – a foreigner in accordance with parts three and four of this article shall be notarized at the place of issue and legalized in accordance with the established procedure, unless otherwise provided by international treaties, the consent to be bound by which is provided by the Verkhovna Rada Of Ukraine. At the same time, documents drawn up in a foreign language must be accompanied by a notarized translation into the Ukrainian language.

The National Securities and Stock Market Commission, in the manner established by it, issues a license to conduct a certain type of professional activity in the stock market or refuses to issue it within three months from the date of receipt of documents.

For the verification of information about foreign legal entities or individuals – foreigners included in the ownership structure of a legal entity that intends to carry out professional activities in the stock market, the period for reviewing documents is six months.

The license is issued after the submission by the legal entity of a copy of the payment document for the payment of the license fee.

The term of the license to conduct a certain type of professional activity in the stock market is unlimited.

Securities of a foreign issuer may be admitted to circulation on the territory of Ukraine exclusively on stock exchanges while complying with the following conditions:

  • the issuer is registered in a foreign country in accordance with its legislation;
  • issuance and / or prospectus of securities issuance of a foreign issuer (in its absence – another document containing information on issuance of securities of a foreign issuer) is registered in the country of origin of the issuer and / or the country where the circulation of its securities on the stock exchange is carried out (if the need for such registration is provided by the legislation of the respective country), and such securities are located outside Ukraine;
  • Issue of securities of a foreign issuer is assigned an international identification number (ISIN code), code of the classification of financial instruments (CFI code);
  • securities of a foreign issuer may be accounted for on the correspondent account of the National Depository of Ukraine opened at a foreign depositary institution with which the correspondent correspondent relations have been established with the National Depository of Ukraine;
  • securities of a foreign issuer are admitted to circulation on at least one of the foreign stock exchanges that are on the list approved by the Commission and have sufficient liquidity on such a stock exchange and the regulated market;
  • availability of assets of a foreign issuer on the territory of Ukraine;
  • the existence of an agreement between a foreign issuer and a Ukrainian stock exchange that meets the requirements established by the Commission;
  • presence in the Ukrainian stock exchange with which the foreign issuer has entered into an agreement, access to information resources, where information about a foreign issuer is placed, in order to provide disclosure of such information.

To make a decision on admission, a foreign issuer submits to the Commission the following documents:

  • an application for the admission of securities of a foreign issuer to circulation in Ukraine
  • translation into Ukrainian, veracity of which is certified notarially, auditor’s report, financial statements of a foreign issuer for the last completed year, prepared in accordance with international financial reporting standards, as well as a prospectus for the issue of securities of a foreign issuer (in the absence thereof, another document containing Information on the issuance of securities of a foreign issuer and is mandatory for approval by a foreign issuer in the placement of its securities in accordance with the requirements of the legislation of the Republic of Belarus. Vienna’s country).
  • a copy of the document confirming the registration of the issuance and / or prospectus of securities issuance of the foreign issuer (in its absence – another document containing information on the issue of securities of a foreign issuer) by the relevant competent authority of the foreign state (if such registration is required by the legislation of the respective state) .
  • a certificate on persons who own 25 percent or more of the authorized capital of a foreign issuer applying for admission, indicating the full name and location (for a legal entity), surname, name, patronymic (for an individual), as well as shares in the statutory the capital of a foreign issuer owned by the person concerned.
  • copies of documents confirming the ownership of the issuer for assets in the territory of Ukraine.
  • a copy of the agreement of the issuer with the stock exchange that meets the requirements established by the Commission.
  • a certificate signed by the head and seal of the stock exchange with which the issuer has entered into an agreement confirming availability of access to information resources in the stock exchange, where the information about the issuer is displayed, as well as confirming the opportunities of the stock exchange to provide the translation into Ukrainian of information about a foreign issuer to be disclosed in Ukraine;
  • documents confirming the authority of the head and / or representative of the issuer, with the signature of which the certified documents are submitted.

The decision on admission or refusal of admission is taken by the Commission within 30 days from the date of receipt of the documents.

More information on the admission of securities of foreign issuers to the Ukrainian stock market can be found at the link.

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