How to start a business in Ukraine 2020

Even if you don’t earn millions, your own savings may be enough to start a business in Ukraine. You can actually start with the amount from $ 100 to $ 1000. Of course, it depends on the correct strategy plan and business niche. The main goal is to start a business in Ukraine, get the first income and reinvest in your business again.

The strategy of the work: capital will increase, a business will grow, and you will be able to make a profit.

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Of course, this is not always a quick process, but it also has bright sides. For example, these are minimal risks: by investing a small amount of your own money, you don`t take obligations to anyone. If this is the first attempt to run a business and currently you are not confident in your abilities, you may invest the amount that you will not lose.

Foreigners have simplified the procedure for opening a business in Ukraine. Foreigners no longer need a residence permit to register Entrepreneur status. For foreign specialists the procedure for registering a natural person-entrepreneur in Ukraine has been simplified.

Two conditions

In order for an enterprise to enter into an agreement with a foreigner Entrepreneur, two conditions are necessary:

• a foreign citizen must be in Ukraine legally;
• be registered as Entrepreneur in Ukraine;

To start with, legal grounds meant a document on temporary or permanent residence. Secondly, to get the Entrepreneur status in Ukraine a foreigner must submit an application in the form approved by the order of the Ministry of Justice. Where there is a column “place of residence / location of an individual entrepreneur”.

On the one hand, according to the Law on State Registration, the state register contains information about Entrepreneur at the place of residence or another address where communication with the Entrepreneur is established. And you might think that during registration Entrepreneur can enter any address to which it will be located.

In practice

However, in practice, registrars understand this requirement from the point of view of the Law “On Freedom of Movement and Free Choice of Residence in Ukraine”, while statements of foreigners ’place of residence are entered in such documents:

• permanent residence permit,
• temporary residence permit,
• refugee status certificate etc.

Now

Now the Ministry of Justice has prepared explanations on which the “location” can be confirmed by another document:

• for example,
• a rental contract for housing or another structure,
• information from the State Register of real estate rights, etc.

Now foreigners no longer need a residence permit to register Entrepreneur. The Ministry of Justice has already sent this explanation to the registrars.

To take Entrepreneur status a foreigner needs:

• get an identification number;
• have a rental agreement, or information from the State Register of real estate rights on the ownership of the immovable property.

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