Law on deregulation enters in force

The law No.191-VIII on simplification of business practices (deregulation) enters into force in Ukraine on Tuesday, April 7.

The law has been published in the Verkhovna Rada of Ukraine newspaper “Holos Ukrainy”.

This law simplifies the process of opening and maintaining economic activities, reduces licensing and conciliation procedures and the influence of state authorities on business entities, increases investors' rights protection, and improves the mechanism of funding the activities of the State Registration Service.

The main purpose of the law is to deregulate economic activities and to bring legislation in certain fields in line with the EU legislation, which will allow Ukraine to improve its position in the World Bank's Doing Business rank.

The Verkhovna Rada of Ukraine passed the law on February 12. President Poroshenko signed the law on April 2.