Foreigners who legally reside in Ukraine have rights and obligations identical to those of Ukrainian citizens. This means that a foreigner can become a full-fledged entrepreneur in Ukraine.
One of the most popular forms of entrepreneurial activity in Ukraine is to conduct business by registering as an individual entrepreneur (a person who conducts business in Ukraine without establishing a company, i.e. a legal entity), which has the following advantages
1) a simple state registration procedure compared to other organisational and legal forms of business activity;
2) no charter capital (not required);
3) under certain conditions, it has the right to receive cash from customers without restrictions and without a cash register;
4) under certain conditions, a simplified system of taxation, accounting and reporting may be applied;
5) the possibility of conducting business without a seal and opening a bank account.
An individual entrepreneur in the Ukrainian market and abroad acts independently, entering into relations and achieving the relevant rights and obligations, and may carry out activities in accordance with market needs, making appropriate decisions at his/her own discretion that do not contradict the law. However, Ukrainian law restricts the activities that an individual entrepreneur can carry out. Thus, you cannot provide financial services and conduct broadcasting activities; conduct space activities; conduct scrap operations; conduct activities in the field of secondary and higher education; conduct concession activities in the field of construction and operation of highways.
To become an individual entrepreneur, a foreigner must
- legally reside in Ukraine (not to stay in Ukraine longer than allowed);
- obtain a taxpayer's number;
- submit the required package of documents to the state registrar at the place of residence.
The legal basis for foreigners' stay in Ukraine is one of the following documents
- passport (duly registered);
- permanent residence permit;
- temporary residence permit.
Registration of a private entrepreneur in Ukraine is a quick procedure, which, however, requires reliable preparation of all documents and knowledge of the intricacies of Ukrainian legislation on doing business in Ukraine by a foreigner. In our company, you only need to provide all the necessary data and authorise (by power of attorney) our employees who are lawyers and are waiting for the result.
To get advice on the preparation of all necessary documents and the registration procedure, please call +38 (096) 760-73-74 or other contacts listed on the website, and we will provide you with all the comprehensive information.