Foreigners will be able to start a company in Ukraine and pay taxes online. The government approved the regulation on e-stay

In a bold move aimed at fostering economic growth, Ukraine has taken a significant step towards attracting foreign investment and entrepreneurial talent. The Ukrainian government has recently approved a groundbreaking regulation known as “E-Stay”, which allows foreigners to establish companies within the country's borders and conveniently pay taxes online. This forward-thinking initiative is poised to revolutionize the ease of doing business in Ukraine, making it an even more attractive destination for international investors and entrepreneurs.

E-Stay: A Gateway to Foreign Investment

The E-Stay initiative is designed to simplify the process of starting a company in Ukraine for foreign nationals. Historically, the bureaucratic hurdles associated with establishing a business in a foreign country deterred many potential investors and entrepreneurs. However, with the introduction of E-Stay, Ukraine is positioning itself as a business-friendly destination that welcomes foreign investment with open arms.

Key Features of the E-Stay Initiative:

• Online Company Registration: Foreigners can now register their companies in Ukraine entirely online. This streamlined process eliminates the need for time-consuming paperwork and visits to government offices, reducing the administrative burden on entrepreneurs.
• Digital Document Submission: E-Stay allows for the submission of all necessary documents electronically. This not only accelerates the registration process but also promotes transparency and reduces the risk of corruption.
• Secure Online Tax Payment: Once a company is established, foreign entrepreneurs can easily pay their taxes online. This convenient feature ensures that businesses comply with tax regulations promptly, contributing to the stability of the Ukrainian economy.
• Multilingual Support: To cater to a diverse international audience, the E-Stay platform offers multilingual support, making it accessible to entrepreneurs from various linguistic backgrounds.

The government was issued by a mechanism obtained by a foreigner's residence via the Internet. An administrator from different countries can record the activity and transfer taxes to the Ukrainian system. Availability will be possible without the need to use Ukraine.

The Ministry of Digitization pointed out that the decision is valid before using the services.

It's introduced:

• acquisition and termination of e-resident status;
• ensuring personal data protection and clear control by tax parties and banks;
• no mandatory access to Ukraine for registration.

“Services resulting from the e-residency, which will be launched after the release of work on the implementation and testing of the IT system” – notification of the Ministry.