UBO Disclosure and Ownership Structure: How Should Business Act?

20/ 10/ 2025

📅 On October 16, a meeting of the Law and Tax Committee of the Western Ukrainian Office of the European Business Association took place, dedicated to one of today’s most relevant topics — transparency of ownership structures and requirements for disclosure of ultimate beneficial owners (UBOs). 💼 For business, it is important not only to update UBO information on time, but also to understand the risks associated with non compliance, including financial, reputational, and legal consequences. During the meeting, the following issues were discussed: 🔹 regulatory framework for UBO disclosure in Ukraine and international approaches; 🔹 common mistakes made by applicants and reasons for refusal to register or update information; 🔹 how to verify the accuracy of UBO information, especially when ownership structures include foreign entities; 🔹 determination of “decisive influence” in complex ownership structures; 🔹 interaction between state registrars, banks, and tax authorities. 🎙 The legal analysis was presented by Anna Mariia Klepikova, Lawyer at Nexia DK. The panel discussion featured: 🔸 Nestor Bodnar, Head of the Lviv Regional Office of UKRSIBBANK BNP Paribas Group; 🔸 Vitaliia Karpa, State Registrar, State Registration Department of the Legal Department of Lviv City Council; 🔸 Andrii Nebesnyi, State Registrar, State Registration Department of the Legal Department of Lviv City Council. The event was moderated by Khrystyna Onyshchenko, Head of the Law and Tax Committee and Partner at Nexia DK. 🤝 We thank the experts for their in depth explanations and practical cases, and the participants for their engagement and professional questions. Such meetings help businesses stay one step ahead, with understanding, responsibility, and transparency.

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💼 For business, it is important not only to update UBO information on time, but also to understand the risks associated with non compliance, including financial, reputational, and legal consequences.

During the meeting, the following issues were discussed:
🔹 regulatory framework for UBO disclosure in Ukraine and international approaches;
🔹 common mistakes made by applicants and reasons for refusal to register or update information;
🔹 how to verify the accuracy of UBO information, especially when ownership structures include foreign entities;
🔹 determination of “decisive influence” in complex ownership structures;
🔹 interaction between state registrars, banks, and tax authorities.

🎙 The legal analysis was presented by Anna Mariia Klepikova, Lawyer at Nexia DK.

The panel discussion featured:
🔸 Nestor Bodnar, Head of the Lviv Regional Office of UKRSIBBANK BNP Paribas Group;
🔸 Vitaliia Karpa, State Registrar, State Registration Department of the Legal Department of Lviv City Council;
🔸 Andrii Nebesnyi, State Registrar, State Registration Department of the Legal Department of Lviv City Council.

The event was moderated by Khrystyna Onyshchenko, Head of the Law and Tax Committee and Partner at Nexia DK.

🤝 We thank the experts for their in depth explanations and practical cases, and the participants for their engagement and professional questions.

Such meetings help businesses stay one step ahead, with understanding, responsibility, and transparency.