Ukraine: one-window principle for investment projects introduced

The President of Ukraine signed Law No. 2623-VI On Preparation and Implementation of Investment Projects under the “One Window” Principle (the “Law”). The Law was adopted by the Parliament of Ukraine on 21 October 2010 and will come into force starting from 01 January 2012.

The Law is aimed at supporting investment projects in Ukraine by making the procedures for cooperation between the participants of investment activity (including investors) and the state authorities more simple and transparent.

The Law introduces regional centres of investment and development (“Investment Centres”) as state authorities in charge of a one-window system of preparation and implementation of the investment projects in Ukraine.

Investment Centres, based on the application submitted by participants of investment activity, will provide a range of services in connection with investment projects, including:

• consultancy services;
• registration of investment projects;
• developing step-plans and preparing documents necessary for the implementation of investment projects;
• support of the projects’ implementation.

Each stage of cooperation between Investment Centres and investors within the one-window system is transparent and the duration of each stage is strictly defined.

According to the Law, Investments Centres will provide their services to investors free of charge.

Certain by-laws must be developed and adopted by the Ukrainian Government to secure the proper implementation of the Law.

Law: On Preparation and Implementation of Investment Projects under the “One Window” Principle No. 2623-VI dated 21 October 2010.