Business in Ukraine
Ukraine is the second largest country in Europe with the territory of 603,700 sq.km. Its population is 50 million people. The capital and the largest city of Ukraine is Kiev. The neighboring countries of Ukraine are: Poland,Slovakia,Hungary,Romania,Belarus, Russia and Moldova . To the South Ukraine is washed with Black Sea and Sea of Azov. The country has the sea boarders with Turkey, Bulgaria and Georgia.
Ukraine is a middle-income country with a strong industrial base, and a significant producer of agriculture and food products. It is an independent country since 1991, following the collapse of the Soviet Union. Ukraine is nearly twice the size of Germany, and the largest country contained entirely within Europe.
Ukraine has always been hospitable and friendly, always happy to receive foreign businessmen, foreign guests, tourists and students.
The richly talented Ukrainian people have created wonderful architecture, many monuments both secular and religious, dating from 11th to 18th centuries can be seen in all throughout Ukraine towns and cities. If you get a chance, visit some of the many historic sites and towns, where numerous treasures will tell you of the great past and traditions. The past is reflected in the architecture and atmosphere of cities.
Cultural life of national minorities in Ukraine – Bulgarian, Greek, Jewish, Crimean Tartar, German, Polish, Russian, Romanian, Hungarian and dozens of others – is very diversified. A system of national schools, libraries, mass media, scientific centers, radio and television, theaters and creative societies is being developed. Languages of all peoples inhabiting the territory of Ukraine are granted equality on the state level.
Ukraine has well-developed economy with considerable portions of agricultural and industrial sectors. Space and rocket engineering, aircraft and ship building, high tech equipment production are among the main branches of the Ukrainian industry. Electrical equipment made in Ukraine is highly rated in the world. Power station turbines, transformers, high-voltage instruments are used in many countries.
Ukraine is distinguished by a high level scientific potential. The National Academy of Sciences of Ukraine has won a world-wide recognition as a science center of physical studies of materials, in particular, in the sphere of electric welding, special electric metallurgy, synthetic super hard materials and tools made from them. The National Academy of sciences, higher educational institutions of Ukraine maintain broad international contacts. Broadening of international contacts has become a positive tended.
Since becoming independent in 1991. Ukraine has struggled to shift from a centrally-planned economy to a market environment.The economy grew at an annual rate of over 7% over the period from 2000 to 2008. This growth was fueled by strong domestic demand and solid consumer and investor confidence.
The economic and financial crisis that unfolded in 2008 shook investor confidence and stalled the inflow of capital.Ukraine remained in recession throughout 2009,but experienced a recovery in 2010 and 2011 as global conditions dramatically improved. The recovery continued in 2016 significantly.
Ukraine is a party to over 40 bilateral agreements on cooperation and mutual protection of investments, which provide additional protection for foreign investments, including internationally recognized dispute resolution mechanisms (e.g. ICSID).
Ukraine has established diplomatic relations with over 170 countries. Ukraine is a member of the United Nations, the Council of Europe, the International Monetary Fund (IMF), the World Bank, the European Bank for Reconstruction and Development (EBRD), the World Trade Organisation(WTO) as well as a number of other international organisations. It also cooperates with the Organisation for Economic Cooperation and Development(OECD), but is not a member.
In addition, Ukraine has concluded numerous bilateral agreements concerning trade, the avoidance of double taxation, and mutual guarantees of investments.
Foreign citizens and legal entities have the right to own apartments, houses and other facilities. Ownership of non-agricultural land is also possible. Ukraine’s property markets remain increasing, there are signs of stabilization.The commercial property market has been characterized by stable rental rates and decreased vacancy rates.
The Ukrainian authorities regularly declare their support for foreign investment. In general, the regulatory framework for the establishment and operation of businesses in Ukraine by foreign investors is similar to that for domestic investors (apart from the ownership of agricultural land).
As a general rule, investment permits are not required, but all enterprises must be established according to the form and procedure prescribed by law and registered with the appropriate government agencies.
Foreign investors are generally not required to seek special approval for foreign direct investments, but may register with the state authorities. Registration of a foreign investment may ease the restrictions on the remittance of dividends abroad. As at 1 July 2013 the total stock of FDI in Ukraine reached USD 55.3 billion (or USD 1,222 per capita), according to the State Statistics Service.
Kitangry Corporation process every aspect of your business’ need for the purpose of attaining success for your investment in Ukraine. Services include Finance, Marketing, Business Development, Advertising, PR, and Legal.
We works closely with each client, getting the project ready for Ukrainian market. Our team of professionals provide personal attention and work with clients on all required materials necessary to appeal to achieve goals, creating a business plan that displays the most attractive and sought-after assets for that specific industry, and giving your business an advantage over the competition.
Five important reasons why Ukraine to do Business:
1- Natural Resources Ukraine can offer resources such as land, water, wood and agriculture; all this in the near proximity of Central Europe.
2- Government facilities for foreign investors investment permits are not required, but all enterprises must be established according to the form and procedure prescribed by law and registered with the appropriate government agencies.
3- Geographic location of Ukraine allows conducting logistics from the Far East. Ukraine could become a land bridge from China or Caucasus to West Europe.
4- Well educated population many high skilled engineers and IT specialists.
5- Budget required to start a business is lower than the other countries.
How to find appropriate business and invest in Ukraine ?
The most proper way is to contact us and our expert team will provide you consultation and initial investment plan according your desirable business sector and budget.
Here are some potential business sectors in Ukraine:
- Export ( Metals, Agricultural Products, Machines and Equipment, Livestock, wood )
- Real Estate.
- IT Companies.
- Local sale project ( Shops, Restaurant, Cafes, etc)
- Hotels & Leisure.
business in ukraine