ADVANTAGES OF COMPANY FORMATION IN UKRAINE
It has diverse economic sectors such as Agri-Business, Energy, Transport, IT, etc. Agri-Business accounts for 40% of the total exports. The development in the IT sector is rapid and received more than 2.8 billion in 2016.
Ukraine has a conducive access to the Sea route for transport of goods to other countries across the globe. Additionally, it has seven major ports, 200 merchant ships, and a substantial spread of roads and railways. Further, Ukraine maintains a free bilateral trade agreement with Hungary and enjoys good trade relations with other European nations.
Tax Holiday is introduced for certain sectors such as Agriculture, Investmen Funds, etc. as well as businesses with an annual turnover of less than UAH 3 Million. Additionally, small businesses enjoy 0% taxation for a period of 5 years (10 years for the hospitality sector).
The time required for formation of a company in Ukraine is much lower as compared to other countries.
It usually takes 1 week for setting up a company in Ukraine. However, the registration with the Tax Authorities takes around 2 weeks.