Ukraine is considering a new instrument for household savings: personal investment accounts. Bill No. 15314 would allow citizens to invest through a dedicated account and receive tax benefits if they keep money invested for at least three years.
The proposal is designed to move part of household savings from cash and short-term deposits into Ukrainian securities. Supporters argue that this could create a source of longer domestic capital for companies and give citizens a more active way to protect savings from inflation.
How the account would work
The account would be opened through an investment firm and used to buy Ukrainian assets such as shares, bonds and other instruments approved by the regulator. Investment income, dividends and interest could be exempt from personal income tax and the military levy if the holding period is respected.
The idea also includes strict controls: one account per person, reporting by investment firms and separate accounting for cash and securities. If an investor withdraws early, taxation would apply to the relevant amount.
The main risk is that tax relief does not protect from market losses. Ukrainian assets remain volatile, and many citizens have limited investment experience. For the reform to work, simple rules, investor education and strong supervision will be as important as the tax incentive itself.
