There are a lot of risks and barriers that are associated with establishing an R&D center in a foreign country. Any business that wants to do so must weigh the risks and benefits and decide whether or not it’s a worthwhile move. In the case of Ukraine, the benefits of doing so certainly outweigh the risks, and it would be greatly beneficial for a foreign business to open an R&D center in Ukraine.
Posvidka na prozhyvannya is the name given to a residence permit in Ukraine. As a foreigner, while seeking permanent residence in Ukraine, you must aim at obtaining this document. Getting a Ukrainian residence permit is mandatory by law to all foreigners seeking more than 90 days in Ukraine.
Ukraine has the second-largest joint border with the EU and accounts for 0.9% of important imports from non-EU countries. The country also offers a market of over 44 million consumers and 70% of its land is made up of the most fertile soil in Europe. The possibility for greater trade and economic prosperity between Ukraine and the EU is high but Ukraine will have to significantly improve its poor business environment.
Ukraine has signed numerous Double Taxation Treaties (DTT) with countries in Europe and all over the World. This promotes good business and contributes to the overall growth of the economy. This text will discuss some of the articles incorporated under the Ukrainian double taxation agreements.
What is a Double Taxation Treaty
According to the world bank statement, business in Ukraine is booming. This was shown by a recent spike in the annual economic growth rate of the country.
Any experienced businessmen would spot a ripe opportunity here. Ukraine is slowly becoming one of the most profitable business centers in the world. For more insights on how to launch a business in Ukraine, please continue reading.
