One of the forms of foreign investment in the Ukrainian economy – opening representative offices and branches of foreign companies. Non-resident organizations can do business in our country in various ways. Most often it is:
- securities trading;
- provision of services;
- buying and owning real estate for later sale;
- advertising, cultural, entertainment activities;
- trade in goods.
Accounting services for a representative office of a foreign company
Any foreign companies that have branches and representative offices in Ukraine are required to adhere to domestic legislation, keep accounts and submit financial statements to regulatory authorities. To solve these problems, full-fledged accounting services are needed. The company "Key Solutions - accounting of foreign companies" provides a range of services related to the support of accounting, tax, personnel records of representative offices of non-resident companies. We work with representatives of various business areas and non-profit organizations.
Organization of accounting in a foreign representative office
According to part 1 of article 2 of the current Accounting Law, this regulatory legal act applies to both Ukrainian legal entities and foreign business entities that must:
- have a full-time accountant or use the services of a private entrepreneur, an outsourcing firm;
- choose an accounting policy and issue an order about it;
- from the date of registration of a branch, representative office, keep records in accordance with the rules of p(s)bu;
- choose the form of accounting;
- to approve the rules for document circulation and processing of credentials;
- Conduct an inventory within the deadlines set by the manager.
Accounting for foreign companies. Registration with the tax authorities is mandatory for permanent representative offices, which are equated to Ukrainian legal entities. Registration with the Pension Fund and social insurance funds is required only in case of employment.
What is included in the services of accounting support of a representative office of a non-resident
Accounting outsourcing from the company "Key Solution - accounting outsourcing for foreign companies" is aimed at solving such important issues:
- permanent bookkeeping, tax accounting;
- accounting and legal support of business activities;
- development of internal documents and internal corporate reporting forms;
- preparation of financial statements for the parent company in accordance with IFRS;
- calculation of salaries for personnel, submission of reports to regulatory authorities and funds;
- collection and processing of primary documentation;
- interaction with the fiscal service and funds, preparation for inspections and their support;
- maintaining personnel records;
- advice on business, taxation, administrative issues.
Our accountants and lawyers will help resolve even the most complex issues. For clients who do not speak Ukrainian or Russian, we will provide an English-speaking specialist to help.
Do you still have questions about the service: accounting in a representative office of a foreign company? Ask them to our manager in the online form or contact a company employee by phone.