Foreigners can become entrepreneurs in Ukraine in a few clicks, and the state budget will receive an additional million dollars a year.
An e-residency law has started in Ukraine, thanks to which foreign IT specialists will be able to become entrepreneurs in Ukraine and pay taxes to the state budget. This was announced on Saturday, April 1, by the Ministry of Digital Transformation of Ukraine.
They noted that such a law was adopted for the first time in Eastern Europe. The Ministry of Digital Development said what it will give to foreigners and Ukraine.
Thus, the launch of e-residency will allow foreigners to:
become entrepreneurs in Ukraine in a few clicks;
manage your business remotely using modern technologies;
sign documents with an electronic signature;
remotely open bank accounts and manage them;
pay taxes on preferential terms.
What it will give Ukraine:
E-residency will attract international investment and make Ukraine a global IT brand.
“According to our forecasts, only in the first year after the full launch of the project, about 1,000 foreign entrepreneurs will receive the status of e-residents. And this is +1 million dollars to the Ukrainian budget,” the ministry added.
At the same time, entrepreneurs with income in Ukraine cannot become e-residents. Also, citizens of Russia and other countries from the sanctions list cannot become e-residents.
It was previously reported that the experience of Ukrainian IT specialists and developers could be used in future US military operations.
Ukraine’s IT industry grew by 13% during the war – NBU
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I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.