On the dummy companies in corrupt activities

The use of dummy companies is one of the means of corruption in Ukraine. Such legal entities are used everywhere, in public procurements, in lending, for tax evasion and in many other cases. How can this situation be overcome? 

The government has declared its desire to overcome the phenomenon of dummy companies, which was manifested in adoption of a purely declarative law which declares the duty to disclose the beneficiaries of legal entities. In other words, the result of this regulation is the lack of result; officials will continue to own the dummy companies, the hidden monopolies will persist etc.

Legal Initiative NGO believes that to stop the use of the dummy companies (which, in turn, will create obstacles to corruption), it is required to:

  • Develop and legislate the method of establishing the related persons;
  • Determine the range of the government agencies authorized to establish the related persons. These should be the authorities and institutions for the activities of which it is important to establish the beneficiaries of the legal entities, such as the National Anti-Corruption Agency of Ukraine, National Bank, State Fiscal Service, Antimonopoly Committee, law enforcement agencies and court;
  • The decision of the government agency (institution) on establishment of the ultimate beneficiary is the basis for appropriate amendments to EDRPOU(National State Registry of Ukrainian Enterprises and Organizations);
  • Provide for challenging of decisions on beneficiary establishment in court;
  • Strengthen the liability for the use of dummy legal entities.

Only by taking into account and respecting the above conditions, we may say that fighting the corruption will be effective and will be able to move from adeclarations to real action.

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