Diya.City Reaches 1,000 Resident Companies with Significant Economic Impact

by Roman Cheplyk
Thursday, May 23, 2024
Diya.City Reaches 1,000 Resident Companies with Significant Economic Impact

The Diya.City initiative, a special tax regime tailored for the IT industry in Ukraine, has successfully attracted 1,000 resident companies, as reported by Diya

This milestone highlights the growing influence of Diya.City in fostering the development of Ukrainian technology companies and enhancing their global competitiveness.

Key Highlights:

  • Resident Growth and Tax Contributions:

    • In the first quarter of 2024, Diya.City resident companies collectively paid approximately UAH 4 billion in taxes.
    • The number of resident companies continues to grow, with about 50 new companies joining each month.
    • In the previous year, residents doubled their tax contributions, reaching a total of UAH 8.5 billion.
  • Employment Impact:

    • More than 70,000 individuals are employed by Diya.City resident companies, reflecting the significant employment opportunities generated by this initiative.
  • Advantages of Diya.City:

    • Favorable Tax and Legal Framework: Diya.City offers a special legal and tax regime that reduces the tax burden on companies and provides incentives for reinvestment and attracting additional financing.
    • Venture Investment Tools: Resident companies have access to various venture investment tools, enabling them to secure funding and support their growth and innovation efforts.
    • Corporate Structure Benefits: The regime also facilitates the creation of transparent and efficient corporate structures, enhancing governance and operational efficiency.

Diya.City's continued expansion underscores its role in driving the growth of Ukraine's IT sector and solidifying the country's position as a burgeoning tech hub. The initiative's success is marked by increased tax revenues, job creation, and the attraction of new companies, all contributing to Ukraine's economic development.

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