News & Publications

New rules on critical enterprise status and employee reservation in Ukraine: October 2026

October 2026

October 2026 – On 27 October 2026, the Cabinet of Ministers of Ukraine’s Resolution No. 1328 dated 23 October 2026 (the “Resolution”) entered into force, introducing changes to the rules for recognising enterprises, institutions and organisations (collectively, “companies”) as critically...

By Maksym Tesliar and Iryna Shaposhnikova

The Global Legal Post: How the war in Ukraine has created a new field of legal practice

October 2026

October 2026 – In a recent article for The Global Legal Post, published on 23 October, Daniel Bilak, Managing Partner of Kinstellar Ukraine, shares his personal account of what managing a law firm in Kyiv looks like on the ground today and how the war has transformed Ukraine’s legal landscape.

By Daniel Bilak

ItaliaOggi: Ukraine, "It's time for Italian companies to enter the market"

October 2026

October 2026 – In a recent interview with ItaliaOggi, Daniel Bilak, Managing Partner of Kinstellar's Kyiv office, explores the opportunities emerging in Ukraine's evolving business landscape.

Daniel shares his perspective on:


The current state of the Ukrainian business environment;

By Daniel Bilak

Employment of persons with disabilities in Ukraine: New reporting form approved

September 2026

September 2026 – On 25 September 2026, Order No. 453 of the Ministry of Finance of Ukraine dated 25 August 2026 (the “Order”) entered into force. The Order approves the form of the Report on the Accrual, Calculation and Payment of the Contribution to Support the Employment of Persons with Disabilities...

By Maksym Tesliar, Iryna Shaposhnikova and Anna Piliuk

Bank resolution and collective investment institutions reform: Ukraine updates the regulatory framework

September 2026

September 2026 – Ukraine’s Parliament has passed a new reform package introducing important changes to bank resolution, insolvency proceedings, and the regulation of collective investment institutions. The reforms reshape how insolvent banks are resolved, update the rules governing depositor and...

By Illya Muchnyk, Oleksandra Poliakova and Zakhar Oprysko

Ukraine updates "green" auction rules: What investors need to know

September 2026

September 2026 – The Ukrainian government recently amended the Procedure for Conducting Auctions for the Allocation of Support Quotas (the "Auction Procedure"), which forms part of Ukraine's renewable energy support framework. The Auction Procedure governs so-called "green" auctions, through which...

By Illya Muchnyk, Oleksandra Poliakova and Zakhar Oprysko

Foreign bank accounts: when and how Ukrainian businesses report to the NBU

August 2026

August 2026 – Ukraine’s currency regulations have, since 2019, been based on the principle that “anything not expressly prohibited by law is permitted”. With the entry into force of Law of Ukraine No. 2473-VIII “On Currency and Currency Operations,” dated 21 June 2018 (the “Currency Law”)...

By Illya Muchnyk, Oleksandra Poliakova and Zakhar Oprysko

NBU continues to ease currency restrictions in Ukraine: New opportunities for individuals and businesses

August 2026

August 2026 – On 10 August 2026, the National Bank of Ukraine (the “NBU”) adopted its latest package of amendments easing foreign currency (“FX”) restrictions that were introduced back in February 2022 following russia’s full-scale invasion of Ukraine.

The new rules, which take effect...

By Illya Muchnyk, Oleksandra Poliakova and Zakhar Oprysko

Ukraine approves a civil aviation strategy and creates a coordination centre to prepare for the resumption of flights

August 2026

August 2026 – New moves by Ukraine’s Cabinet of Ministers are readying the country for the eventual resumption of flights across Ukraine. Specifically, Order No. 677-r and Resolution No. 888, issued on July 8, set out a vision for the eventual post-war reactivation of Ukrainian air traffic, along...

By Oleg Matiusha and Yulia Eismont

TrophyLab: Ukraine enables access to information on captured weapons

July 2026

July 2026 – The Ministry of Defense of Ukraine has launched TrophyLab, a new platform enabling eligible Ukrainian and foreign defense-sector entities to study captured military equipment through access to technical information, research materials and physical samples.

Click on one of the images...

By Daniel Bilak, Natalia Kirichenko and Maiia Savelieva

Ukraine introduces new export control procedures

July 2026

July 2026 – Cabinet of Ministers Resolution No. 875 introduces a new procedure governing the export of certain military and dual-use goods during martial law and also expands the list of exemptions regarding Cabinet of Ministers authorization for the export of military goods.

Click on one of...

By Daniel Bilak, Natalia Kirichenko and Maiia Savelieva

Update on critical enterprise status and employee reservation in Ukraine

July 2026

July 2026 – On 3 July 2026, Resolution No. 862 of the Cabinet of Ministers of Ukraine, dated 1 July 2026, entered into force. The Resolution, among other things, sets out the procedure for maintaining the validity of decisions recognising enterprises as critically important and clarifies certain aspects...

By Maksym Tesliar

Kinstellar advises Grupa Maspex on its acquisition of Carpathian Mineral Waters in Ukraine

July 2026

July 2026 – Kinstellar has successfully advised Grupa Maspex (Maspex), one of Central and Eastern Europe’s largest food and beverage producers, on its acquisition of Carpathian Mineral Waters, a leading Ukrainian mineral water, soft drinks, and snacks producer and distributor.

The team...

By Olena Kuchynska and Yulia Eismont

State supervision (control) reform in Ukraine: New rules for business inspections

June 2026

June 2026 – The Government of Ukraine is introducing key updates to the system of state supervision (control). The changes centre on the digitalization of inspection procedures, the strengthening of procedural guarantees for business entities, and on implementing new mechanisms for carrying out inspections...

By Olena Kuchynska, Mykola Lykhoglyad and Khrystyna Kulynych

Captured weapons: Transfer and export regulations in Ukraine

June 2026

June 2026 – Via Resolution No. 661 of 27 May 2026 (which entered into force on 3 June 2026), the Cabinet of Ministers of Ukraine has enacted regulations covering the transfer and export of weapons and military equipment captured from the enemy. Prior to the adoption of the Resolution, no special procedure...

By Daniel Bilak and Natalia Kirichenko

Critically important status and employee reservation: Recent changes in Ukraine

June 2026

June 2026 – Ukraine has updated the rules for recognising enterprises as critically important and for reserving employees liable for military service.

The new regulation came into force on 2 June 2026, with certain changes taking effect on 1 September 2026, and brings important changes to the...

By Maksym Tesliar, Iryna Shaposhnikova and Anna Piliuk

Information violations before the Antimonopoly Committee of Ukraine

June 2026

June 2026 – Information requests from the Antimonopoly Committee of Ukraine (AMC) are often treated by the recipients as routine events. However, mistakes in responding to such requests may give rise to competition law liability, including incurring significant fines.

The risk arises not only...

By Yulia Eismont and Olena Tsygulska

Kinstellar advises Kyivstar on the acquisition of six solar power plants in Ukraine

May 2026

May 2026 – Kinstellar has successfully advised Kyivstar on the acquisition of six solar power plants in the Lviv region of Ukraine, with a combined capacity of 105 megawatts, for 3.6 billion hryvnias (approximately USD 80.8 million).

Kyivstar is Ukraine’s largest telecommunications operator...

By Illya Muchnyk

New rules for international military assistance in Ukraine: Key changes

May 2026

May 2026 – Ukraine has introduced important updates to the way international military assistance is coordinated during martial law. The changes broaden the scope of such assistance to include financial contributions from partner states and establish a more streamlined, centralised approach to working...

By Daniel Bilak, Maiia Savelieva and Alina Borovets

Exchange of temporary residence permits: Updated rules in Ukraine

May 2026

May 2026 – Ukraine has updated the rules governing the exchange of temporary residence permits. The new regulation becomes effective on 7 May 2026 and establishes a mandatory deadline for certain foreign nationals and stateless persons to renew their residence permits, replacing earlier wartime flexibility...

By Maksym Tesliar and Iryna Shaposhnikova

Kinstellar and Strategy Council deliver the 5th UK-UA Defence Tech Forum, in partnership with the Embassy of Ukraine in the UK, in London on 27 April

April 2026

April 2026 – The forum convened senior officials from the UK Ministry of Defence, the National Guard of Ukraine, and the Ukrainian Council of Defence Industry, leading defence‑tech founders from Ukraine, as well as major investment institutions from the UK, Europe, and the United States.

This...

By Daniel Bilak and Lukáš Ševčík

“Gun-jumping” in Ukraine: 2022-2025 enforcement dynamics

March 2026

March 2026 – Over the past four years, the Antimonopoly Committee of Ukraine ("AMC") has significantly intensified enforcement against so-called "gun-jumping" violations, in which mergers or acquisitions occur prior to obtaining AMC approval. This trend is reflected not only in the growing number...

By Yulia Eismont and Olena Tsygulska

A temporary reservation mechanism for defence sector employees with military registration violations has been launched in Diia

March 2026

March 2026 – On 13 March 2026, the Diia state portal technically implemented a mechanism for the temporary reservation of employees of defence sector companies with military registration violations. The relevant amendments entered into force on 4 December 2025 pursuant to the Law of Ukraine dated 9...

By Maksym Tesliar and Valentyna Danyliuk

Ukraine takes fresh step toward FDI screening with launch of Interagency FDI Commission

February 2026

February 2026 – Ukraine’s government has adopted a key resolution to establish an Interagency Commission for screening foreign investments (the "FDI Commission"). At the same time, the country’s parliament (Verkhovna Rada) is presently assessing competing draft laws on foreign direct investment...

By Yulia Eismont

Ukraine simplifies import/export of military and dual-use goods

January 2026

January 2026 – The Ukrainian government has simplified the procedure for obtaining permits and conclusions for international transfers of military and dual-use goods under international treaties with Ukraine.

The relevant changes were introduced by Resolution of the Cabinet of Ministers of Ukraine...

By Daniel Bilak and Larysa Gorbunova

Navigating the MiCA landscape: Considerations for forum shopping in CEE and beyond

January 2026

January 2026 – As the European financial market undergoes a major digital transformation, the implementation of the Markets in Crypto-Assets Regulation (MiCA) stands out as a defining milestone. By introducing a harmonised legal framework, the EU is transforming from a fragmented regulatory landscape...

By Illya Muchnyk

Defence City legal regime: full implementation phase begins

January 2026

January 2026 – The Defence City regime entered its full implementation phase, following the adoption of the relevant regulations by the Cabinet of Ministers of Ukraine.

This alert provides an overview of the adopted regulations, with a focus on the key procedures and implications for defence...

By Daniel Bilak, Larysa Gorbunova and Maiia Savelieva

Further easing of currency restrictions in Ukraine: Focus on new currency liberalisation instruments

January 2026

January 2026 – On 13 January 2026, the National Bank of Ukraine (NBU) announced a new package of updates to the existing currency (FX) restrictions that were introduced in February 2022 in response to Russia’s full-scale invasion.

The regulatory changes are aimed at further developing the...

By Illya Muchnyk, Oleksandra Poliakova and Zakhar Oprysko

Land ownership and leasing rights for foreign investors in Ukraine

January 2026

January 2026 – Investing in Ukraine’s real estate and land assets requires an understanding of the legal framework governing land ownership and leasing.

Land ownership titles


Ukrainian citizens and companies: (companies registered in Ukraine) can acquire most types of land...

By Oleg Matiusha and Diana Malysh

War risk insurance in Ukraine: New government mechanisms and market outlook

January 2026

January 2026 – As a result of Russia’s ongoing aggression, businesses across virtually all sectors of the Ukrainian economy have suffered severe damage and financial losses. Missile strikes, drone attacks, and other forms of hostilities affect both frontline and rear regions – and the number of...

By Illya Muchnyk, Oleksandra Poliakova and Zakhar Oprysko

Kinstellar and Strategy Council deliver the 4th Defence Tech Forum in London

December 2025

December 2025 – In a recent event held at the Royal United Services Institute, Kinstellar and the Strategy Council, working in partnership with the Embassy of Ukraine in the United Kingdom, co-organised the 4th Defence Tech Forum in London, Financing Joint UK-Ukraine DefenceTech Development and Co-production.

By Daniel Bilak

Ukraine’s sanctions maze: Why challenging sanctions rarely succeeds

October 2025

October 2025 – Ukraine currently maintains one of the largest sanctions lists in Europe, comprising roughly 21,000 entries but with only 114 removals over the past decade. Sanctions have become a central instrument of national security policy in response to persistent external threats. At the same...

By Luke Wochensky and Yulia Eismont

Ukraine takes steps towards FDI screening law

September 2025

September 2025 – Ukraine's parliament has registered a draft law “On the Screening of Foreign Direct Investments” (the “FDI Draft”), which, in line with EU standards, seeks to establish mandatory screening mechanisms for foreign investments into sensitive sectors. At this stage, the FDI Draft...

By Yulia Eismont

Investment into Ukraine: Capital repatriation regime and currency control restrictions

September 2025

September 2025 – Despite the ongoing war and significant challenges, the Ukrainian legal framework continues to encourage an open and flexible investment environment.

Specifically, it expressly recognizes a wide variety of investment forms and ways to repatriate investments.

Below we...

By Illya Muchnyk, Oleksandra Poliakova and Zakhar Oprysko

Defence City: New opportunities for the defence industry

August 2025

August 2025 – On 21 August 2025, two laws were adopted in Ukraine on the creation of Defence City*. Defence City is a special tax and legal regime that provides a number of benefits and easements for companies working in Ukraine’s defence industry.

The laws will enter into force one month...

By Lyudmyla Dzhurylyuk and Mykola Lykhoglyad

Overview of the Law on Factoring: New opportunities for business financing in Ukraine

August 2025

August 2025 – The Law of Ukraine "On Factoring" No. 4466-IX dated 3 June 2025 (the "Law") introduces a comprehensive update to existing laws governing factoring. The goal of the Law is to align Ukrainian regulations with best international standards and to establish a modern, digital, and transparent...

By Illya Muchnyk, Oleksandra Poliakova and Zakhar Oprysko

Public–private partnership reform in Ukraine

August 2025

August 2025 – On 30 July 2025, the President of Ukraine signed Law No. 7508, aimed at optimising the mechanism for attracting private investment into post-war infrastructure recovery efforts through public-private partnerships (PPPs). The law, save for a few exceptions, will come into force three months...

By Oleg Matiusha

New legal framework for explosives and ammunition in Ukraine

August 2025

August 2025 – New rules governing the production, procurement, and supply of explosives and ammunition came into effect in July 2025. Their goal is to simplify regulatory procedures for manufacturers.

Click on one of the images below or use the following links to read our overview in English...

By Anastasiya Bolkhovitinova and Maiia Savelieva

Amendments to currency restrictions in Ukraine create new opportunities to attract foreign capital

August 2025

August 2025 – On 6–7 August 2025, a new package of changes to currency restrictions in Ukraine came into force. The National Bank of Ukraine (the "NBU") introduced currency restrictions in February 2022, following the onset of Russia’s full-scale invasion.

Below we highlight the key changes...

By Illya Muchnyk, Oleksandra Poliakova and Zakhar Oprysko

Ukraine greenlights strategic & critical minerals lists to support national security and boost investment

August 2025

August 2025 – On 14 July 2025, the Cabinet of Ministers of Ukraine (CMU) approved the Lists of Minerals and Components of Strategic and Critical Importance (Resolution No. 845, or the Lists). Resolution No. 845 classifies minerals into two categories: strategic minerals (those crucial for the national...

By Olena Kuchynska

Open banking: Ukraine enters new stage of payments market digital transformation

August 2025

August 2025 – New rules governing the production, procurement, and supply of explosives and ammunition came into effect in July 2025. Their goal is to simplify regulatory procedures for manufacturers.

Click on one of the images below or use the following links to read our overview in English...

By Illya Muchnyk, Oleksandra Poliakova and Zakhar Oprysko

Kinstellar supports Ukraine in its reconstruction efforts and launches dedicated Ukraine reconstruction projects website

July 2025

July 2025 – Kinstellar has launched a firmwide initiative to support Ukraine in its recovery and reconstruction efforts.

Our Kyiv Office continues providing full commercial counsel and legal support in Ukraine to international and domestic clients, with particular emphasis on the Infrastructure...

By Daniel Bilak, Olena Kuchynska and Oleg Matiusha

Challenges and opportunities: rebuilding Ukraine’s post-war infrastructure

July 2025

July 2025 – During the last three years as a result of Russia’s ongoing aggression, Ukraine’s infrastructure has sustained extensive damage, representing a profound challenge to the country’s long-term development. Delays in reconstruction risk having severe social and economic repercussions...

By Oleg Matiusha

Commentary re the US-Ukraine Reconstruction Investment Fund Agreement

June 2025

The intergovernmental Agreement on the establishment of the #US-#Ukraine #Reconstruction #Investment #Fund (Fund), signed on April 30, 2025, in Washington, D.C. (Agreement) reflects a reset of the US-Ukraine geopolitical relationship and looks to provide a strategic blend of economic investment and security cooperation.

By Olexander Martinenko and Illya Muchnyk

Sustainable Reconstruction of Ukraine’s Energy Infrastructure

May 2025

Russia’s invasion has devastated Ukraine’s energy infrastructure, turning a once-diverse and export-capable power sector into one struggling with deficits. As reconstruction begins, the priority is not simply to restore capacity, but to build a modern, resilient, and sustainable energy system. This article outlines key strategies to guide that transformation.

By Olexander Martinenko

Developments in Ukraine’s nuclear energy sector

April 2025

Recent efforts surrounding Ukraine’s attempted purchase of two VVER-1000 nuclear reactors from Bulgaria highlight the complex legal and geopolitical environment in which Ukraine’s reconstruction efforts are unfolding.

Bulgaria abruptly refused to sell two Russian-made VVER-1000 NPP reactors that Ukraine planned to buy to complete the construction of the Khmelnytsky NPP.

By Olexander Martinenko