Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of June 23, 2021 No. 648

About approval of requirements to the applicant concerning solvency for implementation of the investment project with considerable investments

According to part three of article 7 of the Law of Ukraine "About the state support of investment projects with considerable investments in Ukraine" the Cabinet of Ministers of Ukraine decides:

Approve requirements to the applicant concerning solvency for implementation of the investment project with considerable investments which are applied.

Prime Minister of Ukraine

D. Shmygal

Approved by the Resolution of the Cabinet of Ministers of Ukraine of June 23, 2021 No. 648

Requirements to the applicant concerning solvency for implementation of the investment project with considerable investments

General requirements

1. These requirements establish criteria of solvency of the applicant for implementation of the investment project with considerable investments (further - the investment project).

2. In these requirements the term "mother company" is used in the value given in the Tax code of Ukraine, other terms - in the value given in the Law of Ukraine "About the state support of investment projects with considerable investments in Ukraine".

3. The applicant shall correspond to all criteria of solvency of the applicant for implementation of the investment project determined by these requirements namely:

to criterion of sufficiency of equity;

to criterion of sufficiency of pure operational cash flow;

to criterion of availability of financing sources for covering of considerable investments.

For the specified criteria the minimum measure values taking into account the amount of considerable investments into investment objects during the term of implementation of the investment project are established.

4. Compliance to criteria of solvency of the applicant for implementation of the investment project proves to be true by provision as a part of the request of the relevant documents in paper form in Ministry of Economics or electronically with use of the Single state web portal of electronic services (in case of technical capability).

5. The documents issued by competent authorities of foreign state shall be legalized if other is not provided by the international treaty of Ukraine, and are provided together with the translation into Ukrainian certified in accordance with the established procedure.

6. If applicants are several legal entities who together submitted the application, criteria determined by Items 10 - 15 of these requirements, the requirements determined by Items 16 - 24 of these requirements, - to that legal entity (persons) who will provide financing of the investment project at the expense of the raised funds are applied to all legal entities in total as to whole, and.

The documents specified in subitems 1 - 4, the 6th Item 8 of these requirements, are represented concerning all legal entities who together submitted the application. The documents specified in the subitem 5 of Item 8 of these requirements can be represented by one or several legal entities who together submitted the application and who will provide financing of the investment project at the expense of the raised funds.

The legal entities who submitted the joint application shall give as a part of the request, the agreement on cooperation to implementation of the investment project.

7. For the purposes of confirmation of conformity of the applicant to the criteria of solvency of the applicant for implementation of the investment project determined by Items 10 - 15 of these requirements, the applicant has the right to use supporting documents of mother company and/or the faces tied with the applicant the control relations. The applicant or the mother company of the applicant or person tied with the applicant the control relations if such face will provide financing of the investment project at the expense of the raised funds shall conform to all requirements to financial stability, profitability and liquidity determined by Items 16 - 24 of these requirements.

If the applicant uses supporting documents of mother company and/or the faces tied with the applicant the control relations, for confirmation of conformity to the criteria on solvency of the applicant for implementation of the investment project specified in these requirements, except necessary financial information about the relevant mother company and/or the face tied with the applicant the control relations, specified in Items 8 - 9 of these requirements, the applicant shall submit the letter obligation of such mother company and/or person connected with the applicant the control relations. Such letter obligation is signed by the authorized person and shall confirm readiness of mother company and/or person connected with the applicant the control relations to finance the investment project if the applicant supposes financing of part of considerable investments into investment object at the expense of the raised funds.

8. The applicant gives:

1) the reference containing list of the legal entities submitting the application with indication of, in particular, their full name, data on registration of the legal entity, information on authorized persons, contact information on each legal entity submitting the application;

2) the reference containing list of shareholders (participants) of the applicant who are owners more than 5 percent of shares (shares) in the authorized capital of the applicant, the related companies and beneficial owners, and also structure of property of the applicant submitting the application;

3) the copy (copies) of the audit report prepared by subject of auditor activities for results of financial records audit which conforms to requirements to subjects of auditor activities of the applicant which are determined by Items 25 and 26 of these requirements, the financial reporting of the applicant for the last financial year or penultimate financial year (in case of lack of results of financial records audit for the last financial year) prepared according to requirements of national provisions (standards) of financial accounting or international accounting standards. At the same time the applicant anyway submits the financial reporting for the last financial year, including in the absence of results of financial records audit for the last financial year;

4) the comfort letter from the subject of auditor activities concerning its compliance to requirements to the subject of auditor activities of the applicant which are determined by Items 25 and 26 of these requirements;

Warning!!!

This is not a full text of document! Document shown in Demo mode!

If you have active License, please Login, or get License for Full Access.

With Full access you can get: full text of document, original text of document in Russian, attachments (if exist) and see History and Statistics of your work.

Get License for Full Access Now

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.