Following the global trend for tax transparency and fighting harmful tax practices, Ukraine finally adopted its ownanti-BEPS package law, known by businesses and tax practitioners as "tax bill 1210". Asters selected the key takeaways for businesses operating across the borders. The law is in effect starting from 23 May 2020 with some provisions taking effect later. I. CONTROLLED FOREIGN COMPANY (CFC) RULES CFC rules are introduced to affect outbound investment by wealthy Ukrainians and undistributed profits kept on accounts of foreign entities. Ukrainian tax resident company or individual owning shares in foreign companies (interest in foreign trusts etc...
Founded in 1995, Asters is the biggest full-service Ukrainian law firm with offices in Kyiv, Brussels, Washington, D. C. and London. The Firm provides efficient transactional legal advice and represents clients on a broad spectrum of matters arising in the course of doing business in Ukraine. Asters combines established world-class quality, international recognition and strong local presence.
Asters is recognized Ukraine Law Firm of the Year by The Lawyer (2021, 2020), Who's Who Legal (2021, 2020) and Chambers & Partners (2020); and named No. 1 law firm in Ukraine according to the 2020 Top 50 Law Firms Annual National Ranking by Legal Practice Weekly and has been included in the best 3 law firms in Ukraine for the last 16 years. Asters is also named Law Firm of the Year and Law Firm of the Decade on the Legal Awards 2020 and 2016 ceremonies accordingly conducted by Legal Practice Weekly.
The Firm is also highly recommended in Ukraine by major international reviews, including IFLR1000, Chambers Global and Chambers Europe, The Legal 500. Firm's partners and lawyers are distinguished by the world's best peer review-based surveys such as Best Lawyers, Expert Guides, and Who's Who Legal.
Asters offers a full range of legal services and keeps high reputation for its expertise in a wide array of practices, such as banking and finance, capital markets, corporate and M&A, competition and antitrust, compliance and anti-corruption, dispute resolution, energy and resources, environment, family law, intellectual property, international trade, labour and employment, mediation, public-private partnership, real estate, restructuring and insolvency, sports, taxation, telecommunications, and white collar crime.
The Firm has extensive industry-specific experience and plays a leading role in advising clients in various market sectors, including agriculture, automotive, aviation, banking and finance, energy, infrastructure and transport, insurance, media and advertising, oil and gas, pharmaceuticals and healthcare, private equity, real estate and construction, retail and consumer goods, telecommunications and IT.
All Asters' attorneys received their Ukrainian law degrees from the best Ukrainian law schools and have developed problem-solving skills and experience from years of practicing business law. Most attorneys are fluent in English. A number of our lawyers earned LL.M degrees at prominent U.S. and European universities such as Yale Law School, Chicago Law School, Harvard and New York University, and have gained substantial international experience working at the leading international law firms in the US, UK and Ukraine.
Year this Office was Established: 1995
Lawyers Worldwide: 140
Languages: English, Russian, Ukrainian and Norwegian
Areas of Practice
On 16 April 2020, the National Securities and Stock Market Commission (the Commission) approved by its Decision No. 196 the Temporary Procedure for Calling and Remote Holding of General Meeting of Shareholders and General Meeting of Corporate Investment Fund Participants (the Temporary Procedure), for application of relevant rules to the general meetings of shareholders (the Meetings) during the quarantine introduced to prevent spread of the coronavirus disease (COVID-19) (the COVID-19 Quarantine)...
Asters successfully defended PrivatBank in UAH 152 mln dispute related to the ownership right over the head office building
Asters defended interests of PrivatBank, Ukraine's largest bank in terms of assets, in a court of appeal in a dispute related to the ownership right over the client's head office building located in Dnipro (Ukraine). In November 2020, the Commercial Court of Dnipropetrovsk region upheld the claim of the company connected with the bank's former owners and top management. The court annulled the ownership rights of PrivatBank to the office building, acquired 3 months prior to nationalization as a result of foreclosure on a mortgage to repay a loan owed to a person connected to the bank's former owners...
Asters acted as a Ukrainian law counsel to the International Finance Corporation (IFC), a member of the World Bank Group, on EUR 13.7 mln financing to the city of Kryvyi Rih, the largest industrial park in Ukraine with a population of nearly 630,000 people. The investment consists of EUR 10.2 mln of IFC own-account financing and EUR 3,5 mln in blended finance through the Clean Technology Fund. The financing will be directed at upgrading the city's transport system by purchasing 15 new tramcars and updating the existing ones as well as improving the environment by developing an urban transportation plan to promote the alternative transport types...