The Cabinet of Ministers of Ukraine has removed from the legal field the outdated rules that regulated the licensing of property investments of residents abroad. This was reported by the Ministry of Economy of Ukraine.
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Cleaning up the bureaucracy
Deputy Minister of Economy Taras Kachka explained that as part of deregulation, the government invalidated three decrees and five separate regulations that complicated the process for entrepreneurs. “We are removing relics of the past, because the decree on mandatory licenses was abolished long ago, but individual regulations remained,” he noted.
Historical context
The requirement to obtain licenses for foreign investment has been in effect since 1995 by decree of the President. About 170 applications have been received over the entire period, which indicates the low relevance of these rules in modern conditions. The abolition of the norms simplifies access for Ukrainians to international investment opportunities.
- Investments