Investor Support Law Gains Popularity in Ukraine

Wednesday, June 30, 2021
1 MIN
Investor Support Law Gains Popularity in Ukraine

"UkraineInvest" received 23 projects worth $1,35 bln apply for investment

UkraineInvest executive director Serhii Tsivkach noted a large number of requests (23 projects) with a total investment of $1,35 bln.

Earlier, the government has already passed four by-laws necessary for the launch of the investment mechanism. Three more acts are expected to be adopted: on keeping a journal of projects, requirements for a feasibility study, and a methodology for calculating the volume of state aid. Let us remind you that the law on state support for investments provides for exemption from payment of certain tax projects with investments of €20 million or more. The amount of state support can be up to 30% of the investment amount. The investor may receive special conditions in the case of providing at least 80 new jobs. The level of salaries of employees should be 15% higher than the average for the selected activity in the region of investment.

In February 2021, the government authorized UkraineInvest to accompany projects with significant investments. Later, in March, appropriate amendments were made to the tax and customs codes on benefits for a period of 15 years.

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