Ukraine is a sovereign state in Eastern Europe. It is bordered by countries like Russia, Hungary, Romania, Poland, Slovakia as well as the Black Sea and Sea of Azov.
Ukraine is located strategically at the crossroads of Russian, European and Asian markets making it a gateway to venture into the nearby markets.
It has diverse economic sectors such as Agri-Business, Energy, Transport, IT, etc. It also has a very large heavy-industry base and is one of the largest refiners of metallurgical products in Eastern Europe. The country is also well known for its production of high-technological goods and transport products, such as Antonov aircraft and various private and commercial vehicles.
Ukraine’s standard corporate income tax rate is 18% and general VAT rate is 20%. There are also certain transactions subject to 0% and 7% VAT rates as well. Tax registration as a VAT payer is compulsory if the volume of an entity's taxable transactions exceeds UAH 1 million for the past 12 consecutive months. Until 2021, tax holidays are available to taxpayers with annual income less than UAH 3 million, provided they meet certain requirements.
The time required for formation of a company in Ukraine is much lower as compared to other countries.
Shareholders can be of any nationality. However, at least 1 Director should be Ukrainian Citizen/PR certificate holder at the time of incorporation. Later a foreigner with work permit can be appointed as Director.
There is no minimum capital requirement.
A local registered office address.
Power of Attorney for company incorporation.
If shareholders are Physical persons: Ukrainian Tax ID (even for the foreigners), Copy of the passport.
If shareholder is a Legal Entity: Copy of Extract/Certificate form the Trade register and Certificate of incorporation, Copy of the passport of all beneficial owners.
Preparation of all needed documents (POA, Minutes, applications, Charter etc) in Ukrainian and English.
Assistance in company formation
State Registration and obtaining VAT Payer certificate
Assistance in opening a bank account
Other Maintenance & Compliance Services:
Assistance in obtaining work permit and Temporary residency certificate (if needed).
Provision of Nominee Director.
Provision of Legal Address.
Company Secretarial Services and compliances.
Book keeping and Preparation of financial statements.
Filing tax and annual returns.
It usually takes 1 week for setting up a company in Ukraine. However, the registration with the Tax Authorities takes around 2 weeks.