Foreigners legally residing in Ukraine have the same rights and obligations as Ukrainian citizens. This means that a foreigner can fully operate as an entrepreneur in Ukraine.
One of the most popular forms of business activity in Ukraine is registering as an individual entrepreneur (a person conducting business activities). The benefits of this form include:
- A simpler state registration process compared to other organizational and legal forms.
- No requirement for authorized capital.
- Under certain conditions, the right to receive cash from clients without limits and without a cash register.
- The possibility of using a simplified system of taxation, accounting, and reporting, given certain conditions.
- The ability to conduct business without a seal and without opening a bank account.
An individual entrepreneur in Ukraine and abroad operates independently, establishing relationships and acquiring rights and obligations. They can make market-driven decisions, provided these actions are legal. However, Ukrainian legislation restricts certain activities for individual entrepreneurs, such as providing financial services, broadcasting, space activities, operations with scrap metal, secondary and higher education, and concession activities related to the construction and operation of highways.
To become an individual entrepreneur, a foreigner must:
- Legally reside in Ukraine (not exceed the permitted stay duration).
- Register their place of residence within 10 days of arrival at that address.
- Remain at the registered residence for 6 months from the registration date.
- Obtain a taxpayer identification number.
- Submit the required documents to the state registrar at their place of residence.
The legal basis for a foreigner’s stay in Ukraine includes one of the following documents:
- A duly registered passport.
- A permanent residence permit.
- A temporary residence permit.
Registering as a sole proprietor in Ukraine is a quick procedure, but it requires thorough preparation of all documents and an understanding of Ukrainian legislative nuances concerning business activities by foreigners. In our company, you only need to provide the necessary information and authorize (through a power of attorney) our legal staff to handle the process, and you can then wait for the results.
Links: e.gov.ua<\/a> ukraineinvest.com<\/a> msp.gov.ua<\/a> kmu.gov.ua<\/a> minjust.gov.ua<\/a> tax.gov.ua<\/a>