Doing business in Ukraine: The global tax guide

Foreign citizens can start their business enterprises in Ukraine as well. They will have the same legal authority and privileges as Ukrainians. An expatriate can create a Ukrainian legal entity to start their own business or operate through a Ukraine representative office. But, just like in any nation, there is the issue of taxes one has to be aware of and plan accordingly. So, here is an easy-to-understand global tax guide focused on doing business in Ukraine.

Ukraine's new law to attract foreign investment

Ukraine's foreign investment climate is now more lucrative, thanks to the Law on "State Support for Investment Projects with Significant Investments in Ukraine." The government passed this law on February 13th, 2021. Its objective is to create a conducive business environment for high-value foreign investment in Ukraine. Foreigners will now invest in various sectors of the Ukrainian economy as partnerships, joint-stock companies, or wholly-owned subsidiaries.

Acquiring the Ukrainian work permit

Ukraine has a thriving economy, and job opportunities often arise. Once a foreign national is considered suitable for a position, the next step would be to acquire a work permit. The potential employer primarily makes applications for work permits. The employee, however, needs to be aware of the requirements to avoid falling short. This article seeks to highlight the basic requirements for a work permit application in Ukraine.