Doing business in Ukraine for foreigners: uResidency beta testing launched

The Ministry of Digital Transformation is launching a closed beta testing of the uResidency electronic residency programme. This programme will allow citizens of other countries to register, run a business and pay taxes in Ukraine.

The programme is aimed at small business owners from Asia and Europe. The focus is on IT professionals and specialists providing online services in the creative industries.

The uResidency programme allows foreigners to register a business in Ukraine and automatically pay taxes to the Ukrainian budget.

“The full-scale invasion has had a significant impact on the Ukrainian economy. Now we not only need to restore it to 2021 levels, but also ensure that the state has the resources to pay for the army and future reconstruction. uResidency is exactly the solution that will help systematically attract cash flows to Ukraine. This programme has a huge potential to restore our economy both during the war and after its end,” said Oleksandr Borniakov, Deputy Minister of Digital Transformation of Ukraine.

The programme will also boost the banking sector by extending digital products to foreign markets, create additional opportunities to attract investment and strengthen Ukraine’s brand as a digital state.

To become an e-resident, foreign entrepreneurs do not need to travel to Ukraine. A one-time offline verification at the Ukrainian consulate in their country of residence is all that is required to obtain the status. All other processes are fully online, from applying for the programme to opening a bank account.

Following the beta test, the programme will be available to citizens of the first four countries – India, Pakistan, Thailand and Slovenia. This list will be gradually extended.

Background

The uResidency project is supported by the European Union through the EU4DigitalUA and DT4UA projects, implemented by the Estonian e-Governance Academy.