Ukraine has adopted a draft law to create a comfortable environment for doing business in Ukraine for foreigners. From now on, citizens of another country (except Russia and Belarus) have the right to apply for electronic residence in Ukraine and get the opportunity to work with the same rights as a citizen of Ukraine, but with bonuses: the most simplified system of taxation, accounting and reporting and the single tax rate no value added tax. In addition, reporting can be done online from anywhere in the world.
"The creation of an electronic residence will allow entrepreneurs from all over the world to operate in Ukraine as Ukrainian resident if he works in the field of information technology. The adoption of the law will also result in the possibility of attracting foreign Ukrainians to the development of the domestic IT industry," member of the tax committee of Ukraine Olha Vasilevska-Smahlyuk.
What does a foreign IT specialist get in Ukraine
- Specialized taxation system without VAT;
- Open an account in any Ukrainian bank and pay by bank transfer;
- Single tax rate – 5% of income;
- Personal account in the tax service and direct assistance with regulatory authorities.
"This draft law is the first step towards introducing the world's best practices for attracting investments, technologies, ideas and people to the process of Ukraine's economic development. Such practices are already being used in several countries – in particular, Estonia, whose experience we have studied and adopted in recent years."
Further, Ukraine plans to introduce similar conditions for foreigners in the field of economic activity.
