Business news from Ukraine

Business news from Ukraine

Kuwait prepares a “freelancer visa” for foreigners and steps up the fight against visa brokers

Kuwaiti authorities are preparing to launch a new residency visa for freelancers that will allow foreign specialists to work for themselves without the traditional employer sponsorship system (kafala). The plans were announced by First Deputy Prime Minister and Minister of Interior Sheikh Fahd Al-Yousef Al-Sabah, who noted that the initiative is aimed at combating illegal trade in residence permits and “visa brokers.”

According to media reports, the annual government fee for the new residency category will amount to KD 750–1,000 (in some publications, the equivalent is estimated at about $2.45–3.26 thousand), and the launch is expected within the next two months—roughly in March–April 2026.

As specified, in the first phase, the program may be limited to “simple”/low-risk professions, with preliminary requirements including registration of a confirmed residential address, provision of valid contact details and correct personal information. The full list of areas, application mechanics and final selection criteria are to be announced separately by the competent authorities.

Kuwaiti authorities expect that the new scheme will legalize independent employment, reduce the scale of grey practices in the labor market, and increase budget revenues through direct payment of fees to the state.

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Belgrade office market attracted EUR 131 million in investments in 2025

According to Serbian Economist, the total volume of investment in Belgrade’s office real estate in 2025 grew to EUR 131 million, compared to EUR 14 million a year earlier, amid steady demand for prime-class properties and moderate new space supply, Serbia Business reports.

The total volume of modern office space in Belgrade reached 1.46 million square meters at the end of 2025, with more than 65,000 square meters of new space added during the year (about +5% year-on-year). Annual take-up amounted to 180,000 sq m, which is 9% lower than in 2024.

Vacancy in the market at the end of 2025 is estimated at 5.67% (within the “healthy” range of 5-10%), while in the prime segment it fell to 2.5%, reflecting a shortage of quality space. In the transaction structure, 43% were contract renewals and 40% were new leases.

Rental rates remained stable: prime offices – EUR 16-18 per sq. m per month, with rates exceeding EUR 19 in top properties, and class B remaining in the range of EUR 12-14.

Industry consultants generally confirm the trend of stable supply and sustained demand for high-quality space. CBRE indicated that in 2025, Belgrade’s office stock increased by more than 72,000 sq m of speculative supply, while IO Partners recorded stable prime rates at EUR 18-19 and an increase in stock of 86,900 sq m over the year.

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European Insurance Alliance has updated its reinsurance program for 2026

European Insurance Alliance (EIA Kyiv) has updated its reinsurance program for 2026, according to information from the insurer. The main reinsurer for all business lines is traditionally Hannover Rück SE (Germany), one of the world’s leading reinsurers with an international financial strength rating of A+ (Superior) assigned by AM Best.

In addition, it is noted that the combined obligatory reinsurance contract is based on the risk excess of loss. Reinsurance coverage extends to all losses under insurance and facultative reinsurance contracts for property, engineering risks, cargo risks, liability risks, and CASCO, including, but not limited to, the property of commercial enterprises and individuals insured in accordance with the General Terms and Conditions of Insurance Products and the original insurance contracts.

European Insurance Alliance also notes that throughout its activities, it has developed and maintained strategic partnerships with leading reinsurance companies around the world, in particular, its cooperation with Hannover Rück SE has been ongoing for more than 14 years.

“The renewal of the bond program for 2026 is an important step towards further strengthening financial stability, expanding insurance coverage opportunities, and providing additional guarantees for our customers and partners,” said Marina Voronyanskaya, Chairwoman of the Board of Directors.

European Insurance Alliance PJSC has been operating in the Ukrainian insurance market since 1994 and is a member of the Motor (Transport) Insurance Bureau of Ukraine, the League of Insurance Organizations of Ukraine, and the Nuclear Insurance Pool of Ukraine.

The company is licensed by the NBU to provide insurance services in 16 classes, including property, automobile, liability, and medical insurance, etc.

 

Pavlo Baloha buys all real estate of Mukachevo knitwear factory “Mriya” at residual value

The owner of JSC “Mukachevo Knitting Factory ”Mriya‘’ (Zakarpattia region) will sell all the real estate of the factory to the recently established local LLC “Citygoal” at the residual value, which at the end of 2025 amounted to UAH 14.065 million.

According to information in the disclosure system of the National Securities and Stock Market Commission (NSSMC), the relevant decision was made at an extraordinary general meeting of shareholders on February 12, which was attended by one person – the owner of 99.86579% of the company’s authorized capital.

According to YouControl, Citygoal LLC was registered in Mukachevo in July last year with a share capital of UAH 20 million and its main activity being “construction of residential and non-residential premises.”

The owners of the company are Ivan Lilik – 33%, Mykola Medvid – 22%, and Pavlo Viktorovich Baloha – 45% (coinciding with the patronymic and surname of the son of the non-factional MP, former Minister of Emergency Situations, former head of the Transcarpathian Regional State Administration Viktor Baloha), who is listed as the ultimate beneficiary of this company.

According to information on the Mukachevo City Council website, on December 27, 2025, he granted permission to MTF Mriya to develop a detailed plan for the territory “to determine the possibility of building a multi-apartment residential complex with commercial, entertainment, and market infrastructure facilities.”

As reported, in November 2025, the owner of more than 98.87% of the shares of JSC “Mukachevo Knitting Factory ”Mriya,” which had been owned by the Lithuanian Utyanos Trikotazas, became the locally registered LLC Translum, owned by local entrepreneur Vladislav Vitvinov.

The general meeting of JSC “MTF ”Mriya” also decided to grant consent to the company’s director and supervisory board to sell the company’s movable property at a price not lower than its residual value (UAH 1.3 million at the end of 2025).

The announcement does not name the buyer of the movable property, but according to the draft decisions published in the announcement of the meeting, it was planned to sell this asset to the local company Teksto LLC, which, according to YouControl, was established in December last year with a statutory capital of UAH 1 million and its main activity being “underwear manufacturing.”

The owners of Teksto LLC are Mykola Medvid and Ivan Lilik (50% each).

The Mukachevo knitwear factory Mriya, which manufactures knitwear, was founded in 1973. Since 2005, it has been a subsidiary of Utyanos Trikotazas, which supplied raw materials and was the main buyer of its products.

In 2024, the factory incurred losses of UAH 7.4 million (46.6% less than in 2023) and reduced its net income by 15% to UAH 20 million. In January-September 2025, according to YouControl, its net income amounted to UAH 23 million, with losses of UAH 8.5 million.

As of early 2025, the factory employed 84 people, compared to 113 a year ago.

The authorized capital of JSC MTF Mriya is UAH 5.13 million.

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Alliance Company convenes shareholders’ meeting on March 16

According to Fixygen, Alliance Company PJSC plans to hold a general meeting of shareholders on March 16, 2026, according to the issuer’s announcement in the information disclosure system. The data provided on the meeting does not specify the main issues to be put to a vote.

Alliance Company PJSC (EDRPOU 32495221) was registered in 2003, with a charter capital of UAH 700.336 million. Its main activity is the purchase and sale of its own real estate.

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Tomorrow, gusty winds and icy roads expected in northern and western Ukraine

On Monday, February 23, dangerous weather conditions are expected in Ukraine, according to the Ukrainian Hydrometeorological Center.

“On February 23, in the north, Vinnytsia, at night and in the west, during the day and in Cherkasy and Poltava regions, wet snow will stick; in the Carpathians, wind gusts of 15-20 m/s are expected during the day; at night in Transcarpathia and the Carpathians, there will be significant wet snow and rain. There will be black ice on the country’s roads, except in the south and southeast. (Danger level I, yellow),” the report says.

It is noted that weather conditions may complicate the work of energy, construction, and utility companies and the daily lives of the population, as well as disrupt transportation.

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