Even though it’s still very much dependent on financial assistance from various international bodies, Ukraine is making solid steps towards democracy and independence. Refugees three years after receiving asylum. According to the law “on immigration,” residence permits can be obtained if an investment of no less than US$100,000 is made in the economy of the state in foreign convertible currency. Procedure and Investment requirements Ukraine offers permanent residency through investment to all foreign nationals and their families (spouse and children below 18). You can leave Ukraine now if you’d like. On the surface, Ukraine’s residence by investment program seems to have more negative sides than positive. Once you obtain Ukraine residence, you can start the clock ticking toward the five-year requirement to qualify for naturalization as a Ukrainian citizen. Ukraine is not part of the EU. Ukraine connects eastern europe to Russia. Within 5 working days upon arrival to Ukraine, the person has to apply for a permanent residence permit. There are no two ways about this: Ukraine isn’t a great place to bank or do business. It will take just one day to register your new business in Ukraine. Yes, there is a way to obtain the legal right to reside in Ukraine by applying for its citizenship by descent. either rent it out or live in it yourself). The Nomad Capitalist team has helped hundreds of people create and execute prolific offshore plans to help them legally reduce their taxes, become dual citizens, and live the Nomad Capitalist lifestyle of successWould you like to be next? Similar to investment based permanent residence schemes in many other countries such as USA, Canada, Singapore, Ukraine also offers a permanent residence to foreigners who are willing to make an investment of at least USD 100,000 subject to the following conditions: investment is made in a foreign convertible currency; Additional time will be needed to apply for residence permits for your family members, if applicable. Sometimes, when a country has both programs – one for residence and one for citizenship – the minimum required investment is simply too high for some to be attainable. That’s not really great, due to the many implications such a move would have for you personally and financially. The country is undergoing so many reforms, usually done very rapidly, at the request of both the European Union and the International Monetary Fund, which makes us confident it will continue to achieve higher levels of democracy and economic stability. Editorial Team May 14, 2020 Immigration, Law. IT-Work. The permanent residence permit is valid for the same duration as the applicant’s passport. IMF Fund has approved a new $3.9 billion loan agreement for Ukraine. This site uses Akismet to reduce spam. With this money, you can do whatever you would like, including (but not limited to) purchasing real estate that will be owned by your business. It’s a straightforward and speedy process. It’s also not something we would recommend doing without first consulting a reputable immigration investment advisor. Why do you need business PRP in Ukraine? You want to expand your business in Ukraine? The lawyers of Evsutin helped me quickly get married and get a permanent residence permit. AIDS), you won’t be eligible to apply. Permanent Residency by Investment is nothing but a visa status that allows the holder of the Permanent Resident Visa to reside legally inside the country though he/she is not a citizen of that particular country. Have you decided to stay in Ukraine? In practice, such condition means injection of funds to the share capital of a company, registered in Ukraine or joint investment activity on the territory of Ukraine. Temporary let to be in Ukraine for a year. Unfavorable banking environment. Read more. The timeline for obtaining an immigration permit is up to 1 year as defined by law. Ukraine is one of the world’s top grain exporters, but more importantly, the people are incredibly tech-savvy. All of the financial property, including real estate, will then become the property of the single shareholder of the company. Or, perhaps you’ve heard about its favorable tax regime, its affordable cost of living, and its quick access to the European Union and would like to take a chance and invest in an up-and-coming economy. Once the residence application is approved, the permanent residence card shall be issued. Then, you must put in no less than $100,000 in share capital. 13. And don’t forget that it must all be done in Ukrainian, which is why we always recommend that our readers engage with a local lawyer or an investment immigration specialist. The Immigration permit is valid for 1 year. After the company with foreign capital is duly registered in Ukraine, it can perform any type of business activity, not prohibited by Ukrainian law and indicated in the statutory documents of the company (including investment activity, trade, services, export/import business activity, etc). So, we’re not going to highlight only the bad sides of Ukraine here. Interestingly, there are two ways you can make your $100,000 investment. You can, however, purchase real estate via your newly established Ukrainian company and use it however you would like (i.e. Cheap living. Ukrainian citizens and permanent residents are able to travel visa-free to. It is to educate you on the country and the options that it presents foreign investors, and for you to then make an informed decision. The best option for making foreign investment is the creation of a foreign company in Ukraine of any specialization or area of work introducing a sum of 100 thousand USD in foreign currency to an account of established company as a contribution to the share capital of that company from a personal … To add insult to injury, the country has been invaded by Russia, and the peninsula of Crimea was annexed in 2014. Pro-European parties have a majority in the Ukrainian parliament and the overall culture of Ukraine is quite progressive. Talented development, coding, and server workers can be hired for as little as a couple of hundred euros per month. It ranks as the 43rd most powerful passport in the world but is also one of the world’s six biggest-climbers over the last decade. What’s really great is that Ukraine is barely on anyone’s radar – and that’s great news for you. Yes, there is a way to obtain the legal right to reside in Ukraine by applying for its citizenship by descent. It will take at least 6 months to apply for and receive your residence permit in Ukraine. The country is still in conflict at its Russian border, but capital Kiev is safe and offers many of the advantages of a modern European city. Unfortunately, you can only invest in a business when it comes to Ukraine’s residence program. The procedure for obtaining a Ukrainian permanent residence permit through investment involves a series of steps. However, in addition to the pros, there is a considerable number of pitfalls too. Before you apply, however, check if you would be eligible. Permanent Residence in Ukraine by buying property Ukraine’s laws “ On the legal status of foreign citizens and stateless persons” and “On immigration” state that a foreign citizen who invests the equivalent of at least USD 100,000 into the Ukrainian economy has the right to apply for permanent residence in Ukraine. a certificate from your Ukrainian bank, confirming the inflow of your foreign investment into the Ukrainian economy. Finally, Ukraine’s currency – the hryvnia – is at a low point against the US dollar right now, which really sweetens the pot when it comes to investing in the country. You won’t technically be able to buy citizenship; you will need to become a Ukrainian citizen by naturalization. 11. In addition to all of Schengen, Ukrainian citizens can travel visa-free to Bulgaria, Romania, Cyprus, and Croatia. I like to live in Ukraine. Actually, very little time ‘on the ground’ is required by the Ukrainian government. 3. In the world of investment immigration, residence is one of the most desirable options for high-net-worth individuals who want to invest abroad. Optimism and curiosity: what sort of innovation and developments will the country undergo thanks to its new president who took office in 2019? Get in touch with the Nomad Capitalist team and let’s talk about whether Ukraine is a good place for you to plant one or maybe even a few of your flags. No taxation on worldwide income. It’s a straightforward and speedy process. Ukraine is rich in natural resources and the major industries are mining, iron and steel, energy, aerospace, maritime and chemicals. Unfortunately, you can only invest in a business when it comes to Ukraine’s residence program. Permanent residents are able to easily travel to the Schengen countries visa-free. Ukraine is one of the cheapest places to live in Europe. a permanent resident card). Because it is a permanent residence permit, in contrast to other residency permissions, it entitles the holder to indefinite stay in Ukraine. Its banks are known for corruption, no investment protection, and even overnight insolvency. How long does it take to apply for residence in Ukraine via investment? A foreign citizen is entitled to get a permanent residence permit in Ukraine on the ground of investment. That’s the path most commonly taken by real estate investors who want to benefit from a permanent residence permit in Europe but who don’t want to run an actual business or take on the added risk of doing so. Investors perform the required ‘circus act’ and then go on to purchase real estate with some or all of that money. If you have Ukrainian relatives, you could be eligible. The immigration permit is usually processed in 3-6 months, but can take up to one year to process too. Within just five years of permanent residence, you’ll be able to apply for a Ukrainian passport. And although we think that the best time to step into Ukraine was some five years ago, there are still plenty of good deals to be had, especially when it comes to real estate. . Foreigners and stateless persons who are temporary legally staying in the territory of Ukraine, as well as: 1. reached the age of 16 years of have not reached the age of 16 years, but who have arrived solo to Ukraine with education purposes – on the basis of the application forms, submitted in person. Save my name, email, and website in this browser for the next time I comment. For years, it has accepted foreigners from any country in the world who are willing to inject $100,000 in capital into the Ukrainian economy and has offered them a permanent residence permit … Just so you know what you would be in for, here’s how the application process works: 1. However, if you examine today’s environment in Ukraine – especially Kiev and Kharkiv – it will become clear to you that they are filled with well-educated and truly smart people ready to forge ahead and make something of themselves. Seems simple enough, right? A permanent residence permit in Ukraine is issued for a period of 10 years, with its subsequent exchange for a new one valid 10 years at a low cost. European But Not EU Member States’ Residency by Investment Programs The country is eager to turn westwards and fight the corruption that it’s facing. Pro-European parties have a majority in the Ukrainian parliament and the overall culture of Ukraine is quite progressive. We have no doubt that Ukraine will continue to grow and develop and finally rid itself of the Soviet mindset that beset it for decades. Your spouse (you must have been together for at least three years) and unmarried children under the age of 18 are eligible for their own permanent residence permits once you are granted your resident status. Within just five years of permanent residence, you’ll be able to apply for a Ukrainian passport. Read more. The Law of Ukraine On Immigration clearly provides the possibility of obtaining a permanent residency in Ukraine on the basis of making an investment of at least 100,000 U.S. dollars or their equivalent into the economy of Ukraine. If you’re interested in purchasing real estate after your Ukrainian company has been fully set up, you could tour some properties. Simplified EU travel. Sure, it’s a country that’s quite livable and the minimum investment required is quite low – in the grand scheme of things. The Nomad Capitalist team has helped hundreds of people create and execute holistic offshore plans to help them legally reduce their taxes, become dual citizens, and live the Nomad Capitalist lifestyle of success. For years, it has accepted foreigners from any country in the world who are willing to inject $100,000 in capital into the Ukrainian economy and has offered them a permanent residence permit in exchange for their investment. 8. The real estate will be considered the property of the business. People who were convicted and sentenced for a serious crime cannot apply. Buying real estate is one of the best investments you can make in Ukraine to qualify for residence there. The residence permit may be permanent and temporary. Yes, the cash that you put into your business bank account doesn’t get blocked off in any way. Terms of Use, Procedure and Steps for Permanent Residence (PR) in Ukraine, getting permanent residence in Ukraine via investment scheme, 2021 Revisions to Ukraine’s Minimum Wage, Salary Taxes and Government Fees, Ukrainian Government Simplifies E-visa Procedures, Covid-19: Ukraine reopens to foreigners from September 28. investment is made in a foreign convertible currency; the amount of investment is not less than 100,000 US Dollars; payment for the investment  was made in accordance with Ukrainian investment and banking law; the funds are to be to be invested into Ukrainian economy. Circumventing the lack of options, the investment in Ukraine is quite risk-free actually, provided you can trust the bank where the money is held. No, purchasing real estate doesn’t make you eligible to apply for Ukraine’s residence by investment. Here are some of the most frequently asked questions about the program. Although the hot zones of Donetsk and Luhansk are quite far away from the main economic hubs, it can still be unnerving to know that the country is engaged in war. The so-called Ukraine Renaissance is taking place in tech hubs like the capital of Kiev as well as Kharkiv. If you’re not a tax resident in the country, you won’t have to pay tax on your worldwide income, thus giving you the best of both worlds. 9. Her full-time job is to scour our global network to identify new banking, immigration, and lifestyle options for our clients. It’s a process that’s quite involved, and you will need to pass various tests, including a Constitution test and a language knowledge test. Not sure you are one? For that, the Ukrainian company founded by you, can employ you as a director and get a work permit for you which is a legal ground to obtain the temporary residence permit. The process can be delayed if there are discrepancies or mistakes in your application. Can I buy an apartment and get residence in Ukraine? Like every other company in Ukraine, your business will be liable to pay profit tax and real estate tax if your company owns real estate that’s larger than 60 square meters. Give us a call – we can help connect you to the right people. It’s also not something we would recommend doing without first consulting a reputable immigration investment advisor. This entitles the person to the same rights as a Ukrainian citizen, except the right to vote. You are in the blog section of website ContactUkraine.com. • Be able to invest at least $100,000 and establish a Ukrainian business. The trick, then, is to find out whether Ukraine has that ‘special sauce’ that would make this country interesting, as well as financially and personally valuable for you to, You can also buy other financial assets via your company, such as government bonds (. Dateline: Bogota, Colombia A while ago, I posted on Instagram about how I would gladly accept... Dateline: Belgrade, Serbia Here at Nomad Capitalist, we frequently talk about the importance of... How does a collection of islands, islets, and rocks ­­– most of them uninhabited – become one of... A very nice article. Even though you have a residence permit in Ukraine, you’re not required to live there. Permanent residence card; Visa application help; Full legal support throughout your journey; Investment. Lack of investment options. You can hire a personal assistant and domestic help all for very low prices. This means you would only be eligible to apply once you’ve held your permanent residence permit for a minimum of five years. It’s already implemented numerous reforms aiming to improve its bureaucratic apparatus, eased the tax pressure on both individuals and companies, and has climbed upwards in terms of its economic attractiveness and foreign investment. You can have a really high standard of living if your income is made abroad. 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