The law on e-residency came into force today. The project will soon be tested for government agencies. And after the approval of all the necessary additional regulatory framework, foreign IT specialists will be able to become entrepreneurs in Ukraine and pay taxes to the state budget. And this is all online.

Currently, the team of the Ministry of Digital Transformation, together with the NBU, the Ministry of Foreign Affairs, the Ministry of Justice, the Ministry of Internal Affairs, the Security Service of Ukraine and the State Tax Service, is working on the regulatory framework that will allow the project to be fully launched. In addition, the authorities will test a service that will allow foreigners to apply for e-residency status.

“After the testing is completed, we plan to attract about 1000 e-residents. We are waiting for the final approval from the NBU, which will help us launch the project in full. It is about the possibility for e-residents to transfer funds to their own account abroad in foreign currency. The project will bring additional revenue to the Ukrainian budget. It will also contribute to the popularization of Ukraine as a global IT brand and the growth of our position in international rankings, including Doing Business,” said Oleksandr Borniakov, Deputy Minister of Digital Transformation for IT Development.

The launch of the e-residency project will allow foreigners for the following: 

• become entrepreneurs in Ukraine in a few clicks;
• manage their business remotely using modern technologies;
• sign documents with an electronic signature;
• open and manage bank accounts distantly;
• pay taxes on preferential terms.

According to the law, entrepreneurs who have income in Ukraine cannot become e-residents. This means that e-residents will provide services exclusively to other foreigners.

Citizens of russia and countries on the FATF “gray and black” list will not be able to become e-residents.

Source: www.kmu.gov.ua