The Ukraine Parliament is considering Draft Law 5807, which was submitted on 20 July 2021 and provides amendments to the requirement to submit information on ultimate beneficial owners (UBOs) in the Unified State Register. One of the key amendments would simplify the requirements by providing that if the UBOs of a legal entity are exclusively individuals (natural persons), then the requirement to submit information on UBOs will not apply.
Another important amendment is in relation to the i…