There is an accurate quote in finance that if you can find the best overseas investment sector, it will be a pure gem for you. Talking about Ukraine: where it has a huge population of around 44.13 million and is the 35 largest market globally. According to the statement of few authentic sources like GT investment, many people wanted to invest in that country. Even this investment is profitable because there are some established industries, skilled manpower, and natural resources. But if you are interested in investing there, then you should follow 3 significant steps to support. We will explain all those today.
Opening a bank account
The first step of investing in Ukraine is opening a bank account. All the transactions you will do in that country, you should do by the bank account. It will help you when the authority comes to audit. Since you will cash in foreign currency in your account, it will be converted on the UAH. Here is one thing I must mention that Ukraine has followed some strict rules since 2013. This is the reason you should ensure that you have put all the information and formalities. After over all the tasks and formalities, you will get a fixed amount of interest and money from your account.
Held your company
In most of the cases in Ukraine, people have held their company as LLC. This is the reason if you open a company there, you should follow all the past footprint. When you have a bank account, you can easily open an LLC there, but you need a local registered address to complete legal activities and documentation. Here is one thing I need to mention, you need to have a relocation visa. None of the student or other types of visa is granted there. Try to make all the related documents like tax ID, TIN paper, and other things as soon as possible after starting a business.
Start work and get PR
If you already open an LLC company there, you will be eligible to apply for a residence permit. By following some rules and regulations, you need to apply to the legal authority. There you must mention your startup company, and it will help you to get the PR faster. Generally, it will take 15 to 30 days to receive the approval letter. After having PR, immediately you will not be able to hire foreign staff, but later you will be able. Even you will have a lot of benefits after getting PR.
Along with everything, you need to pay tax and vat at the proper time. You have to get a Ukrainian tax number to make secure the future of your business. You must hire staff for your business, but according to the rules of Ukraine, you need to make all documents before hiring. All terms and conditions will be explained on that documents. Then again, if you are a local investor, some rules and regulations will be soft for you. Even in some cases, getting financial support from the government will become easy for you.
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