What is the difference between FOP and LLC?
An Individual Entrepreneur (FOP) independently makes all business decisions and bears full liability with their personal assets. FOPs may hire employees, although there are restrictions depending on the tax group (Group 1 FOPs cannot hire staff; Group 2 FOPs may employ up to 10 individuals). There is no requirement to form authorised capital, but the...
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Business Without Registration: What Are the Risks?
Engaging in entrepreneurial activity without proper registration is subject to administrative liability and fines. Key threats and risks of running an unregistered business: -Legal entities and registered entrepreneurs typically refuse to cooperate with unregistered parties. -Access to credit facilities is unavailable. -Income received by individuals must be declared and taxed at 18% Personal Income Tax...
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About the Internet Fraud
This falls under Article 190 of the Criminal Code of Ukraine – Fraud: unlawful acquisition of another’s property through deception or abuse of trust. As these offences are committed online, victims do not interact with perpetrators face-to-face, and transactions are conducted remotely. Main types of internet fraud: -Phishing – Theft of personal data (e.g., login...
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