This project allows foreigners to open accounts and do business in Ukraine.
Deputy Prime Minister for Innovation, Education, Science and Technology Development – Minister of Digital Transformation Mykhailo Fedorov said that the Ministry of Digital Transformation will launch the “E-Resident” project in a few days, allowing foreigners to open accounts and do business in Ukraine, Interfax-Ukraine reports.
“In a few days, we will launch e-residency, like in Estonia, but with better conditions. We are entering another level of competition with countries, we will present it in the IT arena,” he said at the “Change Directors” forum from Deloitte on Wednesday.
Fedorov added that this is not even a service, but a separate ecosystem that allows entrepreneurs from different countries to open their own business online in Ukraine, as well as pay taxes.
Earlier, the Cabinet of Ministers approved the mechanism for obtaining e-residency in Ukraine.
In addition, the law with amendments to the Tax Code and a number of other laws on the specifics of taxation of entrepreneurial activities of electronic residents entered into force on April 1, 2023. When working, an “e-resident” will pay a 5% tax on income within the limit of a private entrepreneur of the 3rd group, and 15% above the limit, but only under external contracts for the export of services.
Since April 1, the National Bank of Ukraine has granted electronic residents (e-residents) the right to open current accounts in the bank, implementing the provision of the law of October 6, 2022 “On the specifics of taxation of entrepreneurial activities of electronic residents”.
The Ministry of Digital Development, Communications and Mass Media has been working on the “e-resident” project since 2019.
“E-resident” is a special status of a foreign citizen in Ukraine, which gives him access to information and consulting services, simplifies the procedures for obtaining administrative services and concluding civil law agreements. It also allows you to set up a business in the country remotely.