Ukraine is Europe’s largest nation. The nation benefits from a favorable geographic location, abundant natural assets, and a skilled and reasonably priced labor force.
The country has considerable economic possibilities, and those who are open to learning about and seizing the chances at this time will undoubtedly have a considerable advantage.
Traditions and religion
Based on old Slavic customs and traditions, the country has a distinctive and varied culture. The national flag’s colors represent a tranquil blue sky above yellow wheat fields. It illustrates the unique function that agriculture plays in the country. In Ukrainian art, the lady (known as Berehynia) is given particular focus as a representation of health, procreation, and the protector of the home. Woman-Berehynia is typically depicted as a female with her hands raised in a foreboding manner.
There are 11 recognized public holidays in Ukraine, including 3 government holidays, 3 religious holidays, and 5 social holidays.
You can find members of various religions in the country because of the country’s high degree of religious liberty. Eastern Orthodox Christianity is the predominant religion in Ukraine, and it has influenced the daily lives of its followers in many ways. The politeness of Ukrainians is what sets them apart. They honor religion and familial values. Citizens are content with the many holidays they have and like celebrating them widely.
Relocation to Ukraine
The following list of immigration initiatives to assist you in moving to Ukraine.
Obtain the work permit
When employing a foreign worker, a business often needs to get a work permit. The employer is required to thoughtfully arrange the work permit request and all required supporting documentation. Employers must also make sure that the terms of employment comply with Ukrainian legal requirements.
The essential documents required for a work permit include:
- Request form,
- Passport,
- Colored passport photos,
- Proof of job contract, and
- evidence of the employee’s higher studies
Temporary residence permit
For the term of their career, all foreign workers who relocate to Ukraine must get a temporary residency permit. If an individual operates mostly virtually, or if the person won’t be present in the country for more than 90 days in 180 days, no temporary residence permit is needed.
The worker must enter Ukraine on a visa type “D” to qualify for a temporary work permit. A foreign worker may visit the country and apply for a temporary residence permit with the aid of a special multi-entry visa designated as type “D” that is valid for three months. Visa D is essentially a prerequisite for applying for a temporary residence permit.
The next stage is to apply for a temporary residence permit after submitting a D visa application. The person must lastly register their home address.
Permanent residency for investors
Additionally, Ukraine grants permanent residency to expatriates who are prepared to invest at least US$100,000 with the following restrictions:
- An investment is made in a currency that can be converted to another;
- The capital was paid for in compliance with Ukrainian banking and financial services regulations;
- The money will be used to boost the Ukrainian economic system.
Taxation
One of the most important taxes levied on business profits produced in the country is the corporate income tax. Citizens must pay CIT on their worldwide income. However, non-residents only pay CIT on income that comes from Ukraine. They pay CIT as a percentage of their income or profit at rates of 0%, 4%, 6%, 12%, 15%, and 20%.
Banking
You should be cautious while selecting a reputable bank with strong financial standing and reasonable account opening documentation criteria.
The regulations for debiting and crediting non-residents’ accounts are rigorously regulated by Ukrainian regulations, and limited transactions are permitted on non-residents’ accounts.
All of the money that non-residents have in Ukraine must be proven to be theirs. Ensure you have obtained a customs clearance from the customs authorities if you are carrying money into Ukraine and intend to deposit it in your account.
Buying property
Property purchases may now be an appealing investment due to the sharp decline in property rates. You should carry out appropriate research and fact-checking to identify a good property, reduce purchase hazards, prevent scams, and save money on future taxes.
We strongly advise that you work with qualified real estate in the country for the protection of repatriating your capital and profits and for the minimization of your tax obligations.
