Does a freelancer need to register a sole proprietorship?

Administrative Law
Ishutko Sergey
27.07.2021
Law Services - Does a freelancer need to register a sole proprietorship?

 

    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:
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