Why do non-residents choose Ukraine as a country for doing their business?
Why do non-residents choose Ukraine as a country for doing their business? Ukraine is a state with a unique cultural heritage and history. In addition, a comfortable geographical position in the very center of Europe attracts foreign citizens to run their business and move to Ukraine. The legislation of Ukraine allows you to do business saving time and money.
One of the advantages that the country gives to both its citizens and non-residents is medicine. In Ukraine, there are a number of state medical institutions that are absolutely free. Also, non-residents can apply for free education at the Universities of Ukraine, whose education is recognized all over the world – Taras Shevchenko Kyiv University, National University “Kyiv-Mohyla Academy”, National Law University named after Yaroslav the Wise, National University named after Mechnikov and others.
When moving to Ukraine, foreign citizens often wonder what form of doing business is best to choose. Our experts recommend approaching this issue individually, as the goals of each client are different.
Ukraine offers a number of benefits and benefits for foreign citizens
Simplified taxation system: an individual entrepreneur who has chosen the 3rd group of a single tax - 5% of income if they are not VAT payers and 3% of income (revenue) if they are VAT payers, which is also an advantage.
We will only give a brief instruction to simplify your understanding of Ukrainian legislation.
Forms of doing business on the territory of Ukraine
LLC (LCC) - Limited Liability Company;
IE - Individual Entrepreneur;
FRC - Fully Responsible Company;
ALC- Additional Liability Company;
PC - is a private company;
JSC - is a joint stock company.
Why is it worth opening an LLC (LLC) to do business in Ukraine?
One of the most popular and demanded forms of doing business in Ukraine is a limited liability company.
Ukraine has significantly simplified a number of legislative acts, thereby getting rid of pitfalls and obstacles, which has become a great advantage for attracting investors to the country.
The most common practice of foreign companies that open their business in Ukraine is a limited liability company. Unlike other organizational and legal forms, LLC has a number of advantages:
№1 Benefit of Limited Liability:
First, one of the benefits that comes from the name of this legal form is limited liability.
The essence of limited liability is that the participants are not liable for the obligations of the company, and the risks and losses associated with the activities of the company are charged only to the extent of their shares.
№2 The authorized capital of the company:
The second advantage is the legal requirements that relate to the authorized capital of the company.
The authorized capital of the company is made up of the nominal value of the shares of its participants, expressed in the national currency of Ukraine.
In addition to the cash equivalent, the legislation allows you to contribute securities and other property to the authorized capital, this is also a great advantage for doing business in Ukraine.
№3 Opening a limited liability company by non-residents:
The third advantage is that non-residents, as well as citizens of Ukraine, can open a limited liability company on the territory of Ukraine, for this, persons need to obtain an individual tax number before the state registration of an LLC.
Obtaining an individual tax number is a simple procedure for our highly qualified lawyers.
In addition, the number of participants in a limited liability company is unlimited. You can be either a single investor or a co-founder.
№4 Open partnership management policy.
The supreme governing body is the general meeting of participants.
Determining the main directions of the company's activities, amending the company's charter, making a decision on the company's activities on the basis of a model charter, changing the size of the company's authorized capital, approving the monetary value of the non-monetary contribution of the participant and a number of other issues are resolved through the general meeting of participants.
One of the important factors worth noting is that before applying for a job in a limited liability company, a foreign citizen must obtain a work permit. Our highly qualified specialists are ready to help you with this issue.
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