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Business acquisition process in Ukraine.

I would like to share with you my experience in company purchase in Ukraine. I make an import of electronic equipment from China all over the world, but mostly to Europe, India and Middle East countries. Ukraine seemed to be a good and fast growing market. Since 2016 the economy was growing for more than 3% per year. Also there is no much competition in Ukraine and there was a chance to create a business that could generate a good profit. Before 2016 there was a big problem with VAT (Value Added Tax which is 20% rate for most products and services in Ukraine) return. This problem was for decades and that was a big source of corruption in this country. Previously to get VAT tax return you had to spend a lot of time and probably a lot of money. Beginning from 2016 VAT return is made automatically, in online fiscal service system. That is fundamental for import, because all importers pay 20% VAT at the customs. But when the goods are sold to another company (which is also VAT taxpayer)
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One more story about immigration to Ukraine

When I decided to move to Ukraine in 2017, I had to pass through residence permit obtaining. Every country has an immigration laws. Ukraine is not an exception.  Because with my German passport I could stay in Kyiv (it is better to call the capital of Ukraine in such a way instead of Kiev) only for 90 days during 180 day period. So without a residence permit I had the right to reside in Ukraine only for 180 days during a year. And that was not the right solution for me, because I liked Ukraine and intended to live there. I have found a solicitor that explained me all the process. The best solution for me was to obtain a temporary residence permit under a work permit. But I had to establish a company in Ukraine for this purpose. And that was good because actually I needed a company registration in Kyiv for my business. The good thing was that it is very easy to make a company registration in Ukraine. But I just found a good corporate and immigration lawyer and he take care of everythi
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What is Ukrainian Tax ID and how to get it.

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Individual taxpayer identification number by Ukrainian law is a document which is issued by Ukraine fiscal service to an individual. Any person, regardless the citizenship has the right to obtain Ukraine tax ID number . In Ukraine people usually get the ID code by 16 years.  What  identification number is needed for? This document is needed during transactions with any kind of property or asset. For example, if you are going to sell a house or to open a bank account or to get a loan be sure it will be needed. Usually, a notary or a person that certifies the contract requires an identification code. The tax number is also required for employment in Ukraine or when establishing a company.  That is, if you come to Ukraine for work, business or social activity, first of all you will need to translate your passport and to get a taxpayer identification number.  But the legislation of Ukraine gives the right not to obtain a code to persons who  refuse to have it  because of thei
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Advantages of foreign representative office in Ukraine

Foreign companies and corporations have the right to establish representative offices or representative branches in Ukraine. Ukrainian law prohibits, with the help of the office, to conduct economic activities. Representatives are used for the purpose of promoting goods and services. For example, the Toshiba representative office in Ukraine carries out advertising campaigns, monitoring the implementation of warranty and post-warranty services, conducting surveys and determining the needs of customers and negotiating and concluding agreements on behalf of the parent company. While the representative office has no right to directly import and/or sell goods. If you intend to conduct economic activities, registration of business in Ukraine is necessary.  To incorporate a branch office documents are submitted to the Department of Ministry of Economic Development and Trade of Ukraine. For the legislation of Ukraine, the representative office is not a legal entity. But the identification
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Permanent residency in Ukraine.

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In this article I will tell You about the most easy way to get a residence permit in Ukraine. If you decided to move to Ukraine for permanent residence, please note that you will need a residence permit in Ukraine . Obtaining a residence permit entitles you to obtain a long-term visa type D. Among all the grounds for obtaining a residence permit, one is the most reliable, affordable and easy. It is work permit . Obtaining a work permit gives the right to apply for a permanent residence in Ukraine. Under the laws of Ukraine all foreign citizens for employment in Ukraine are required to obtain a work permit. Does this mean that you have to find work in Ukraine to obtain a permit? No. You will only need a company, where You will be a shareholder. By Ukrainian law, company owner or shareholder to be appointed as director of that company has the right to apply for work permit in Ukraine obtaining. Also that does not mean that this company is obliged to make any kind of business activit
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Business registration in Ukraine

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In this article I would like to tell You about important nuance of company formation in Ukraine. Business registration in Ukraine needed to start commercial activity in this country. Company formation procedure are simple and well regulated. Companies law of Ukraine and Civil code of Ukraine regulates company registration process. Company can be registrated by one persone (private or a legal entity). Limited liability company is the most popular business company form. Any way, authorised capital is needed. It's minimum amount is 1 UAH. But You should consider that You will need to provide the necessary amount of authorized capital, as this resourse can be used immediately for business activity. If You plan to make a wholesale, investments or construction (any sphere where a certain amount of money is required) it is recommended to make the adequate amount of share capital. The authorized capital of ukrainian company must be paid by the participants within a year from the date
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