In particular, the Draft Law provides for the modernisation of permitting procedures for renewable energy projects:

• shortening the timeframes for obtaining permits;
• designating special zones for the accelerated development of renewable energy and legalising new forms of collective energy consumption;
• simplifying procedures for investors, namely by creating a “single window” mechanism in the form of a contact body that will provide support for projects at all stages of implementation.

The Draft Law also introduces European requirements regarding sustainability and the reduction of greenhouse gas emissions, compliance with which is necessary for participation in international trade.

These changes will enable large businesses to significantly reduce the time taken to commission new facilities and strengthen energy independence at the local level.

We will closely monitor further developments in this area and report on them in the future Legal News.

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In particular, the Resolution provides for the following changes:

• legal entities-residents purchasing foreign currency are permitted to disregard the balance of funds in their accounts if such funds are intended for security and defence forces or have been received from foreign partners to finance government contracts;
• Ukrainian companies are permitted to purchase and transfer foreign currency for payments to members of supervisory boards and executive bodies (non-residents) accrued under civil law contracts from May 2026;
• The obligation for insurers to submit monthly solvency calculations for reinsurance with non-residents has been abolished. Instead, a requirement has been introduced to submit reports to the NBU and, where applicable, a report on the implementation of plans agreed with the NBU for the resumption of the insurer’s operations and/or financing.

It is envisaged that these changes will contribute, in particular, to ensuring the uninterrupted operation of defence enterprises and attracting highly qualified specialists to the management bodies of Ukrainian companies and banks.

We will closely monitor further developments in this area and report on them in the future Legal News.

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In particular, the document introduces the transition to the ISO 20022 standard, which changes the technical parameters for processing payments. It also increases the requirements for informing customers and amends the mechanism for the compulsory collection of funds from foreign currency accounts.

Key changes include:

• replacing the standard commission allocation codes (OUR, BEN, SHA) with new ones – DEBT, CRED and SHAR. In addition, the use of a two-letter recipient country code (ISO 3166-1 alpha-2) instead of three-letter codes has been enshrined;
• an obligation for payment service providers to notify the recipient of the amount and the payer’s name after each crediting of funds. The method of notification shall be determined by the contract;
• the ability of supervisory authorities to recover debts in hryvnia directly from the debtor’s foreign currency accounts. In this case, the bank is obliged to sell the currency to settle the debt within a short period – no later than the next business day.

It is also established that in the event of a technical change to a client’s account number, any previously imposed attachment shall not be terminated, and the funds shall continue to be recorded and shall be subject to recovery under the new account number.

We will closely monitor further developments in this area and report on them in the future Legal News.

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The primary objective of this Law is to enhance the state’s investment attractiveness and broaden the legal instruments available for protecting business rights.

Key innovations include:

• the list of disputes that may be heard by arbitration institutions has been expanded. International arbitration has been granted the power to resolve complex corporate and investment disputes that previously fell within the exclusive jurisdiction of the state courts;
• provision for the possibility of referring certain disputes in the capital markets sector to arbitration, in particular between bond administrators and issuers;
• provision for the parties to be able to expressly agree that the subject matter of the contract relates to more than one country, thereby enabling disputes that were not previously formally considered “international” to be referred to arbitration.

For more details on the main provisions of this Law, please see our previous Legal News dated 20 February 2025.

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Key Draft Law No. 15172 “On Securitisation and Covered Bonds” introduces the institution of a specialised financing platform and establishes an exhaustive list of participants in securitisation transactions, including the originator, the financial asset manager, investors, the issue administrator, the securities holders’ meeting and the STS securitisation verification agent.

The implementation of the provisions of the Draft Law requires amendments to the Tax Code of Ukraine, the Bankruptcy Code of Ukraine and the Civil Code of Ukraine.

To this end, Draft Law No. 15173, Draft Law No. 15174 and Draft Law No. 15175 have been registered, which provide for the following changes, respectively:

• updating the tax regime for mortgage bonds, including the removal of income from such bonds from the list of passive income and the abolition of certain tax and VAT exemptions, as well as a change in the approach to protecting mortgage collateral from tax liens;
• strengthening the regime for the separation of cover assets in insolvency proceedings, including their exclusion from the scope of the moratorium and the liquidation estate, and the establishment of the principle of actual disposal of assets without the possibility of challenging it, as well as the introduction of the institution of a special administrator;
• the possibility of enshrining fiduciary duties and the specific nature of officers’ liability to investors and creditors in the company’s constitutional documents.

We will closely monitor further developments in this area and report on them in the future Legal News.

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In particular, it is proposed to amend the Civil Code of Ukraine by adding provisions relating to corporate agreements. These changes will broaden the scope of use of these instruments to include members of other types of private-law legal entities, whereas at present it is available primarily to limited liability companies, additional liability companies and joint-stock companies.

Furthermore, the draft laws provide for improvements to the legal regulation of the activities of limited liability companies, additional liability companies and joint-stock companies.

Key changes include:

• the mandatory inclusion in the company’s charter of information regarding the company’s registered office;
• the introduction of the right for any participant to submit proposals for the agenda of the general meeting, specifying details of that participant, his interest and the content of the proposals;
• regulation of participation in general meetings through representatives, including the option to vote on instructions or at one’s own discretion.

In the area of state registration of legal entities, it is proposed to expand the information contained in the Unified State Register of Legal Entities, Individual Entrepreneurs and Public Organisations, in particular regarding persons authorised to act on behalf of a legal entity, restrictions on representation, and corporate rights administrators.

We will closely monitor further developments in this area and report on them in the future Legal News.

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