Receiving a business grant can be a great start for your venture, but it's important to be prepared for the various steps and requirements of the process. Learn about the key nuances that will help you successfully complete all the steps

Legal advice for Ukrainians

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Ukraine currently has enough programmes for citizens who want to start their own business. In particular, Ukrainians who want to start or develop their business can receive a grant from the state. In order to do so, they need to submit an appropriate application. However, there are further steps that must necessarily be carried out in order to use the assistance. We tell you what you need to know about getting a grant after your application has been approved.

The first step towards the grant

The government job centre has approved your application? Congratulations! Now you need to apply to Oschadbank within 20 working days to open an account and sign an agreement to receive the grant.

What are the conditions for receiving funds?

If you are approved for such assistance from the state, you need to:

- create jobs; 

- carry out activities for at least 3 years;

- pay taxes to the budget, in particular, for the employment of workers.

What amounts of grants can you receive and what does it depend on?

Creation of a certain number of jobs is stipulated by the amount of the grant. If the grant amount is up to UAH 75 thousand, and you are a natural person and will open an FLP, it is not necessary to create jobs. If you are already an FLP or a legal entity, you need to hire at least one employee.

- Up to UAH 150 thousand - it is necessary to create 1 workplace;

- up to 250 thousand UAH - it is necessary to create 2 workplaces.

If you do business in Kharkiv or Kharkiv region, the limit of grants is increased for you:

- up to UAH 300 thousand - it is necessary to create 1 workplace;

- up to UAH 500 thousand - you have to create 2 workplaces.

It is worth noting that grants are not taxed. It is not necessary to pay taxes for it.

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Grant funds can be used for: 

- purchase of equipment;

- purchase of raw materials

- rent (not more than 25% of the grant amount);

- equipment rental;

- marketing and advertising; 

- franchising.

The state, through the banking institution, will control the funds received by the entrepreneur under the grant programme. Each debit from the said special separate account must be supported by an appropriate contract (supply, sale, purchase, services, etc.). No funds transfer transaction as payment for goods/services will be made until the contract and invoice are received for the transaction. Once the grant contract has been approved, the grantor may request any documents showing the intended use of the funds and the applicant must provide them.

When can you be required to return a grant?

You will be obliged to return the grant amount only if you do not fulfil your obligations to the state, i.e.: you do not create jobs in accordance with the grant amount; you have been operating for less than 3 years; you do not pay taxes to the budget, in particular, for the employed workers.

Get support from Visit Ukraine's professional lawyers to successfully obtain a business grant. Contact us today and we will help you go through all stages of the process quickly and efficiently!

You can order legal support at this link. For more information please contact us via messengers Viber, WhatsApp, Telegram by phone +380938392984.

We remind you! Now in Ukraine it is available to sign documents with EU partners on one platform. Such signatures have legal force in Ukraine and European countries. We tell you about the new function of the Schrift service here.

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

Ihor Usyk is the Head of Legal Department at Visit Ukraine

If you want to start your own business in Ukraine, you can get advice from my colleagues.
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