The spreading speed of the Covid-19 virus in Ukraine is forcing businesses to look for alternative options of supplying medications and medical equipment, that can be exploited by scammers and unscrupulous suppliers. Therefore, YouControl decided to introduce a tool that allows you to find a company abroad and to get key data about it.
In addition to suppliers and distributors of medical equipment and medications, the tool is important for international lawyers, entrepreneurs who check potential or existing partners.
YouControl has become the first official distributor of the European Business Registry on the territory of Ukraine, that allows to obtain data about companies of 19 countries. Among them there are Austria, Estonia, Finland, France, Germany, Gibraltar, the Bailiwick of Guernsey, Ireland, Italy, Jersey, Latvia, Lithuania, Luxembourg, Macedonia, Malta, Serbia, Slovenia, Spain, Sweden.
A questionnaire of companies from the EU countries contains the number and place of registration. Such a short extract is available free of charge, meanwhile an expanded version, which can include the legal status of a company, its legal address, constituent documents, extracts from the trade register, a company profile, its annual report, the balance sheet of an enterprise, its interim report, documents about appointments in a company, the list of founders, is provided at extra charge. At the request of a user several extracts are possible. The cost of a full extract ranges from 5 to 50 EUR (depends on the country of search and the register).
Companies registered in the United Kingdom are presented in the YouControl system with more extended data: information about SIC (KVED – classifier of types of economic activity), its active or inactive status, condition confirmation, account and whether it is verified, as well as its history – current and former beneficiaries and directors. This profile is available to all users in full. Their source for YouControl is the official register of the United Kingdom Companies House.
For the effective search YouControl has developed an algorithm that allows you to find a company by its name. As for British companies, the search additionally works by the name of the director, founder, signatory and is available in both the Latin alphabet and the Cyrillic script.
Enter data in the search line and select a country from the drop-down menu. As a result, you will receive a list of companies from which you can select the one you are interested in and go to its profile.
In addition to the website, information about foreign companies can be found in the chatbot YouControlBot. It allows you to search data simultaneously from all countries. On the website only the consecutive search is available – country by country. With the help of the bot you can create a list of selected companies, get information and send it to your email. The YouControlBot works in Messenger, Viber and Telegram.
The new tool will assist in:
• Checking of the truthfulness and relevance of the registration data about companies;
• Checking of the veracity of the legal address stated by the counterparty;
• Checking whether the company is liquidated;
• Checking of information about the founders of the company;
• Determining of the type of activity of the counterparty;
• Finding out about financial indicators and the size of the authorized capital;
• Obtaining of data about shareholders and heads;
• Finding out information about the changes introduced to the registration data;
• Clarification of data about the entities engaged in foreign economic activity and counterparties when concluding agreements with foreign companies;
• Correct writing of FEA contracts;
• Filing a lawsuit and appealing to the courts;
• Registering a company with the foreign capital.
News 9 April 2021
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The Express Analysis from YouControl now shows fines from the Antimonopoly Committee of Ukraine (AMCU) for violating the rules of economic competition. Previously such information had to be sought in the official public announcements of the AMCU, now it can be checked in YouControl in 30 seconds. The tool will be useful to automate the process of checking a counterparty during tenders.
Blog 25 March 2021
Risks of Cooperation with Counterparties from Countries with a High Level of Corruption
The location of participants or beneficiaries of a company in the so-called risky jurisdictions attracts special attention of the National Bank of Ukraine (NBU) within financial monitoring. We devoted a separate article to this factor. You will find the whole series of articles on risk factors and the provisions of the Law on Financial Monitoring at the end of this article. The Corruption Perceptions Index is a global ranking of countries concerning their corrupt practices.
Blog 19 March 2021
Risks of Cooperation with Tax Evaders
Debts to the Tax Service are one of the risk factors according to the National Bank of Ukraine (NBU). The Express Analysis from YouControl draws your attention to this factor while checking a counterparty and works out if a company has a tax debt for the last available period. We are explaining what this means and why you need to be especially careful while working with such a counterparty. A tax debt is the amount of monetary obligation not paid by a taxpayer in a timely manner.