The university started its activities in
Bukovina in 1991 as a Ukrainian Free Institute of Management and Business (UVIMB). From 1995 as Czernowitz School of Economics and Law (Economics and Law Institute in
Chernivtsi). The university was re-registered in 2003 on the basis Ivano-Frankivsk Faculty of Law and Business Economics, which was acted as a structural unit of Czernowitz School of Economics and Law from 1992. It is now Czernowitz School of Economics and Law is detached structural divisions of the university. ==Institutes and faculties==