Full Business Setup in Ukraine
A Swiss company in the sports and fitness industry contacted SCHNEIDER GROUP with the request to set up a unique fitness studio in Kyiv offering training for body and soul.
Usually, the main challenges for most foreign investors in Ukraine in the initial stages of starting a business are the complex formalities and the bureaucracy of Ukrainian accounting and tax office reporting. In addition, development of a sporting facility requires a comparatively high initial investment to cover the rental, design, construction, and other related costs. Thus, given the specific Ukrainian tax and compliance regulation, founders must carefully consider how to structure the allocation of working capital to make it most cost efficient.
SCHNEIDER GROUP supported the company and their Kiev office for over 10 months, ensuring overall support in terms of accounting/tax office reporting, legal, and management compliance. Our tax and legal team provided legal support from A-to-Z, consulting the client on working capital formation and overall business model structuring, reconciliation of terms, and drafting the lease/design/construction/labor/HR documentation.
The support of SCHNEIDER GROUP had a profound impact on the client’s business in Ukraine. Due to the excellent work of SCHNEIDER GROUP experts on every stage of the business setup process and their active participation in all spheres of the company’s activity during the start of operations, the fitness studio has been successful for the first 6 months and the market entry was easier than anticipated for the client.