Icon
Come back

3 min

01 Dec. 2023

9097

Peculiarities of business registration for foreigners in Ukraine: what do you need to know?

Popular
Work
Finance
Documents
BusinessUA
For foreigners in UA
Ukraine
Peculiarities of business registration for foreigners in Ukraine: what do you need to know?

A large number of foreigners are interested in starting a business in Ukraine, even though the country is still at war. Learn more about the main features and benefits of registering a business in Ukraine

Take care of insurance for safe entry to Ukraine
Take care of insurance for safe entry to Ukraine
BUY


According to statistics from the State Enterprise National Information Systems, as of early fall 2023, despite the war, more businesses are opening in Ukraine than closing.


In recent years, Ukraine has welcomed many foreign entrepreneurs who have chosen Ukraine to start and develop their businesses. But at the same time, when a foreigner comes to the country, he or she faces many issues. First and foremost, it is the lack of quality communication in their native language and legislative nuances. As a result, the question arises: how exactly to register a business?


Why do foreigners open businesses in Ukraine despite the war?


One of the main advantages of starting a business in Ukraine is that most of the stages of the company registration procedure, such as obtaining a TIN, preparing constituent documents, notarization, registering an LLC, and obtaining a work permit, can be done even without the physical presence of a foreigner in Ukraine. To do this, you just need to issue a notarized power of attorney to a specialist who will help the foreigner go through the entire procedure. However, it is important to note that without the physical presence of a foreigner in Ukraine, a person can be registered only as a founder of a company.


Also, an important nuance is that a foreigner who establishes a company with an authorized capital of more than $100,000 has grounds for obtaining a permanent residence permit in Ukraine.


What should a foreigner know before starting a business in Ukraine?


Citizens of other countries should take into account the following when starting a business:


▶ To set up an LLC (the most common and universal format of a legal entity), a foreign national must obtain an individual taxpayer identification number. This number must be obtained once, as it is assigned to a person for life, and it is currently impossible to register a company without it.

▶ In order for a foreigner to be officially employed in Ukraine, he or she must obtain a work permit. After obtaining the permit, a foreigner can officially become a director of a company.

▶ When a foreigner is both a founder and a director of an LLC, he or she cannot apply for a work permit, as such documents can be submitted on behalf of a registered legal entity. In this case, a citizen of Ukraine can become the head of the LLC, and when the business owner obtains a work permit, the head can be changed.

▶ The procedure for registering a company in Ukraine requires translation into Ukrainian and apostille of documents issued in another country, as incorrect translation and lack of legalization of documents may have negative consequences for the business founder.




Visit Ukraine on social media: Telegram | YouTube | Instagram | Facebook | Twitter | TikTok




Is it difficult to register a foreign business in Ukraine?


The procedure for registering a company in Ukraine for foreigners is largely no different from the procedure for registering a company by Ukrainian citizens. Moreover, registration is a fairly simple and quick process that can take as little as one day. And this point can be considered an attractive advantage of starting a business in Ukraine. 


However, there are some nuances for foreigners. And the best way to avoid all the pitfalls in order to start a business in Ukraine quickly and easily is to contact qualified lawyers who will help a foreigner register a company in compliance with all legal aspects.


On the Visit Ukraine website, you can order a legal consultation, as well as full legal support on starting a business in Ukraine. Our qualified specialists can help you with:


– registering a business in Ukraine;

– doing business in Ukraine and entering the Ukrainian market;

– registration of LLCs and sole proprietorships in Ukraine;

– preparation of all necessary documents for registration of an LLC or a sole proprietorship;

– obtaining an individual tax number;

– choosing the optimal form of organization, business registration, as well as choosing the form of the company's activity;

– preparation of the company's constituent documents;

– immigration to Ukraine on the basis of business, etc.


In addition, you can contact our lawyers to get full legal support for foreign business in Ukraine.


You can order the necessary service by following the link. Our lawyers can make the process of starting your business in Ukraine quick and easy! 


We remind you! The government has authorized the insurance of investments of both Ukrainian and foreign companies against military risks. According to the adopted draft law, the Export Credit Agency (ECA) is authorized to insure against risks associated with armed aggression, hostilities and terrorism. Read more about how this works in our previous article.


Photo: Unplush


Want to know more? Read the latest news and useful materials about Ukraine and the world in the News section.




You may be interested in:


Visit Ukraine Donation - make a good deed and an important contribution to the Victory of Ukraine;

Visit Ukraine Legal advice - comprehensive legal support on entry to Ukraine;

Visit Ukraine Tours - the largest online database of tours to Ukraine for every taste;

Visit Ukraine Merch - choose patriotic clothing and accessories with worldwide delivery;

Visit Ukraine News - get the latest news and updates in our Telegram channel;

Cooperation - cooperation and advertising integrations with Visit Ukraine and Visit World projects.




© 2018-2023, Visit Ukraine. Use, copying or reprinting of materials on this site is permitted only with a link (hyperlink for online publications) to Visit Ukraine.

All rights reserved.

Recommended articles

1 min

Finance What is known about the legalization of cryptocurrencies in Ukraine and what will be the tax?

What is known about the legalization of cryptocurrencies in Ukraine and what will be the tax?

The Verkhovna Rada has registered draft law No. 10225-1 on the circulation of virtual assets in Ukraine. Find out what tax conditions will be in place for businesses operating in the field of virtual assets and what else will change for individuals and legal entities

20 Nov. 2023

More details

2 min

Popular Kyiv has become the safest city in Ukraine: what air defense systems protect the capital?

Kyiv has become the safest city in Ukraine: what air defense systems protect the capital?

Western air defense systems have turned Kyiv into a surprisingly safe city despite the ongoing war in Ukraine. Find out what air defense systems protect the capital and what other Ukrainian cities are safe for Ukrainians and foreigners

21 Nov. 2023

More details

2 min

Insurance Why does a foreigner need to have insurance covering war risks to enter Ukraine?

Why does a foreigner need to have insurance covering war risks to enter Ukraine?

The imposition of martial law on the territory of Ukraine imposes certain restrictions on the validity of insurance policies of foreign citizens. Find out why foreigners need to take out special insurance when entering Ukraine and what are its main advantages

21 Nov. 2023

More details

2 min

War Blackout in Ukraine: how Ukrainian cities are preparing and what you need to know

Blackout in Ukraine: how Ukrainian cities are preparing and what you need to know

A serious energy crisis arose as a result of russia's systematic attacks on Ukraine's energy infrastructure last year. The shelling left many regions without electricity. Read more about how Ukrainian cities are preparing for this year's blackouts and what you need to know about the 2023 blackout season

23 Nov. 2023

More details