DK 021:2015 code 31210000-1 Electrical equipment for switching and protection of electric circuits

In accordance with paragraph 2 of Article 50 of the Civil Code of Ukraine, an individual exercises his right to entrepreneurial activity subject to his state registration in accordance with the procedure established by the Law of Ukraine "On State Registration of Legal Entities, Individuals — Entrepreneurs, and Public Organizations." According to the Law of Ukraine "On State Registration of Legal Entities, Individual Entrepreneurs and Public Organizations", the concept of ultimate beneficial owner applies to legal entities whose ownership structure may include founders, participants or controlling persons, and does not provide for the presence of an individual entrepreneur as an ultimate beneficial owner. Accordingly, an individual entrepreneur carries out his entrepreneurial activity without creating a legal entity, acts on his own behalf, without the mandatory formation of authorized capital and is simultaneously the owner of the business, the sole ultimate beneficiary, and its management body. Therefore, the legislation does not provide for the submission of information on the KBV for natural persons - entrepreneurs, since the FOP acts in its own name, is the direct owner of its property and the recipient of income.