Ukraine introduces e-residency for foreign entrepreneurs: a new digital way to business

Ukraine launched an innovative project called uResidency aimed at opening a business for foreign entrepreneurs from anywhere in the world. This digital service, announced by the Ministry of Digital Transformation, was created to simplify procedures and facilitate business management in Ukraine.

Mykhailo Fedorov, head of the Ministry of Digital Affairs, noted that uResidency allows foreigners to quickly and paperlessly register FOP. The main advantage is the automated system of taxation and reporting, which does not require physical contact with government agencies.

In order to become an e-resident of Ukraine, you only need a few simple steps: fill out an application through the uResidency mobile application or portal and get a qualified electronic signature (KEP) at the consulate. The tax rate for e-residents is only 5%, which makes the Ukrainian business market even more attractive for foreign investors.

The peculiarity of uResidency is the complete automation of reporting: the system independently calculates taxes and submits declarations, which allows entrepreneurs to avoid expenses for accounting and legal services. This approach greatly simplifies business and reduces administrative costs.

E-residency is ideal for those who want to manage their business online and enter the European market. This step will help attract new foreign entrepreneurs to the Ukrainian economy, promote the development of the banking system and increase investments.

According to an official announcement, the program is already available to citizens of India, Pakistan, Thailand and Slovenia, and aims to attract the first 1,000 e-residents. In the future, it is planned to expand access to the program for representatives of a larger number of countries, which will contribute to the further development of the Ukrainian economy and its integration into the global digital space.

By implementing e-residency, Ukraine demonstrates its readiness for innovation and digital transformation, which will contribute to increasing competitiveness on the international arena and popularizing it as a modern investment destination.