Article 164 of the Code of Ukraine on Administrative Offenses provides for liability for economic activity without a license or state registration.
The offense entails the imposition of a fine of 17,000 to 34,000 UAH with the confiscation of manufactured products, tools, raw materials and money received as a result of this administrative offense, or without such.
And a repeated offense, or an offense related to the receipt of income in large amounts, entails the imposition of a fine of 34,000 to 85,000 UAH! not within the legal field. That is, without registering a sole proprietorship and engaging in entrepreneurial activity, a freelancer violates the law and does not act within the legal field.
In addition to the absence of problems with the law, business registration can provide the following benefits:
+ accumulation of insurance (work) experience;
+ stable status in cooperation with potential customers, the ability to apply for loans for business development%;
+ the possibility of choosing the optimal taxation system;
+ non-cash payments through current account, which is important for potential customers.
You can register a private individual through the “Action” application without leaving home, having received electronic keys in advance, for example, through Privat 24, and this is an indisputable advantage. Moreover, it is free😉
If you need our help:
call ☎️0 (96) 016 11 12.