Foreign ownership in news agencies is limited to 35% of the charter capital.
""Section II. SUBJECTS IN THE SPHERE OF MEDIA
Article 13. Entities in the field of media
1. For the purposes of this Law, subjects in the field of media are:
1) subjects in the field of audiovisual media; 2) entities in the field of print media; 3) entities in the field of online media; 4) providers of audiovisual services; 5) video sharing platform providers; 6) providers of electronic communication services for broadcasting needs using the radio frequency spectrum.
[...]
Article 15. Entities in the field of print media
1. For the purposes of this Law, a person exercising editorial control over the creation or selection, organization and distribution of mass information in the form of print media is considered a subject in the field of print media.
2. Subjects in the field of print media can be citizens of Ukraine, foreigners and stateless persons who have a place of residence in Ukraine, legal entities of Ukraine registered in accordance with the procedure established by law.
A subject in the field of print media cannot be a person whose ownership structure includes state bodies, local self-government bodies, their associations, except for exceptions provided by law, as well as legal entities established by such bodies, except for scientific institutions, educational institutions and institutions cultures
{Part two of Article 15 as amended by Law No. 3136-IX dated 30.05.2023 }
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Article 25. Requirements for the ownership structure
1. The ownership structure of the subject in the media sphere must be transparent.
2. The ownership structure of a media entity is transparent if the following requirements are simultaneously met: [...]
3) there are no legal entities registered in offshore zones, the list of which is approved by the Cabinet of Ministers of Ukraine, among the owners of significant participation in the subject in the field of media at all levels of the ownership structure.
In the event that the Cabinet of Ministers of Ukraine includes a certain country (territory) in the list of offshore zones, a subject in the field of media, the owner of which is a legal entity registered in such a country (in such a territory), is obliged within six months from the date of recruitment to bring its ownership structure into compliance with the requirements of paragraph 3 of this part by the relevant resolution of the Cabinet of Ministers of Ukraine.
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Section IX. FEATURES OF THE LEGAL REGULATION OF MEDIA ACTIVITIES IN THE CONDITIONS OF ARMED AGGRESSION
Article 118. Effect of the provisions of this section in time
1. The provisions of this section are effective from the moment the Verkhovna Rada of Ukraine recognizes a certain state as an aggressor state (occupier state) and within five years from the day the Verkhovna Rada of Ukraine adopts a decision to cancel such status. During such a five-year period, the Verkhovna Rada of Ukraine is obliged to annually review the necessity of applying the restrictions provided for in this section and adopt a resolution on the extension or cancellation of the provisions of this section.
2. In the event of succession to the aggressor state (occupier state), the provisions of this section shall apply to all entities recognized as legal successors of the aggressor state (occupier state).
[...]
Article 120. Restrictions on the structure of ownership and financing of the media during armed aggression
1. The subject in the field of media in Ukraine cannot be:
1) a natural person who is a citizen of the aggressor state (occupier state), with the exception of persons who have a temporary or permanent residence permit in Ukraine;
2) a legal entity registered in the aggressor state (occupier state) or located in such a state;
3) a legal entity, in which the ultimate beneficial owner, key participant or owner of a significant participation at any level of the chain of ownership of corporate rights is a natural person who is a citizen or resident of the aggressor state (occupier state), or a legal entity registered in to such a state or with a location in such a state;
4) a legal entity that receives financing (credits, loans, loans, investments, sponsor contributions, charitable contributions, other financial assistance) from natural persons who are citizens of the aggressor state (occupier state), legal entities registered in such a state or domiciled in such a state.
2. The National Council refuses to register and does not allow the entities specified in the first part of this article to participate in the competition for obtaining a license, in accordance with the procedure established by this Law. [...]" (Law on Media No. 2849-IX of 13.12.2022, in force as of 31.03.2023 [google translation])
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Previously up to 2022
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"Article 1. Definition of news agencies
According to this Law, information agencies are registered as legal entities subjects of information activity that act for the purpose of providing information services.
[...]
Article 5. Activities of news agencies
The activities of news agencies are the collection, processing, creation, storage, preparation of information for distribution, release and distribution of information products.
Issuance and distribution by news agencies of their own products for profit is a business activity in this area and is carried out on the basis of this Law and current legislation of Ukraine.
[...]
Article 9. The right to establish news agencies
The right to establish an information agency in Ukraine belongs to citizens and legal entities of Ukraine. Foreigners and foreign legal entities have the right to be co-founders of Ukrainian news agencies.
The establishment and operation of news agencies in the authorized capital of which the total share owned by foreigners and / or foreign legal entities is more than 35 percent is prohibited.[...]" (Law on News Agencies (№ 74/95-BP of 28.02.1995), last amended by Law № 2704-VIII of 25.01.2019, Articles 1, 5 and 9 [google translation])
Law on News Agencies (№ 74/95-BP of 28.02.1995), last amended by Law № 2704-VIII of 25.01.2019, Articles 1, 5 and 9
[<a href="https://zakon.rada.gov.ua/laws/show/74/95-%D0%B2%D1%80#Text">Law</a>]