Business news from Ukraine

Business news from Ukraine

Catalonia has signed partnership agreements with Zaporizhzhia, Dnipropetrovsk, and Lviv regions

A delegation from the Generalitat of Catalonia, led by President Salvador Illa i Roca, signed documents on long-term partnerships with the Zaporizhzhia, Dnipropetrovsk, and Lviv regions during a visit to Kyiv on September 3, according to the Ukrainian Embassy in Spain.

Specifically, Catalonia signed memoranda of understanding with the Zaporizhzhia and Dnipropetrovsk regions, as well as a letter of intent with the Lviv region. The documents cover cooperation in the areas of healthcare, energy, economic development, science and innovation, and the restoration of critical infrastructure and basic services.

A separate area of focus involves strengthening the institutional capacity of Ukrainian regions, specifically preparing them to access EU structural and cohesion funds, as well as aligning with European legislation.
“Interregional cooperation is one of the most effective tools for Ukraine’s recovery. A direct partnership between Catalonia and our regions means not just one-time aid, but sustainable cooperation involving specific projects, the exchange of expertise, and preparation for EU membership,” noted Yulia Sokolovska, Ukraine’s ambassador to Spain.

Medicine remains one of the most developed areas of cooperation. Catalan hospitals have already treated Ukrainian military personnel and civilians with combat injuries, and have provided Ukrainian medical facilities with hospital beds, ventilators, and other equipment. Ukrainian doctors have also completed internships at Catalan medical institutions, specifically at the Guttmann Institute and the Sant Joan de Déu Children’s Hospital in Barcelona.

During this visit, the parties announced the launch of a specialized training program for Ukrainian medical professionals in the fields of reconstructive surgery, the treatment of severe injuries, amputations and prosthetics, burns, and psychological trauma.
The President of the Generalitat of Catalonia emphasized that cooperation must be mutual: Catalonia is ready to share its own and Spain’s collective experience with Ukraine, but at the same time is interested in the unique practices that Ukrainian medical professionals have developed during the war.

At the same time, a delegation from the Barcelona City Council, led by Mayor Jaume Colboni, is visiting Ukraine. As part of the visit, the mayor of Barcelona and the mayor of Kyiv, Vitali Klitschko, renewed the cooperation agreement between the two cities. The document covers issues of energy sustainability, accessibility, urban development, education, healthcare, culture, transportation, and public safety.

Barcelona also delivered a shipment of equipment and vehicles to Kyiv for the fire and rescue service. Starting in 2023, Kyiv will have priority city status in Barcelona’s municipal grant program for civil society organizations.
As noted by the Embassy of Ukraine in Spain, the agreements reached signify a shift in Catalonia’s support from individual humanitarian projects toward a permanent institutional partnership focused on the reconstruction of Ukrainian regions and their integration into the EU.

Original source: Embassy of Ukraine in the Kingdom of Spain

, , , ,

Greece Is Preparing to Update Golden Visa Program

The Greek government is preparing changes to the Golden Visa program that could allow foreign investors to obtain a residence permit by purchasing not just a single property, but a portfolio of several properties, provided they are placed in long-term rental agreements.

The proposed change is included in Greece’s National Housing Policy Strategy for 2026–2035. The document outlines 50 measures with a total budget of over EUR 6.5 billion and is primarily aimed at increasing the supply of affordable housing and reducing pressure on the rental market.

Under the proposed model, a foreign investor will be able to purchase multiple properties instead of just one; however, these properties may be used exclusively for long-term rentals. Listing such housing on short-term rental platforms will be prohibited. The authorities also plan to establish a mechanism to monitor the future use of the acquired properties.

The goal of this initiative is to channel foreign investment capital directly toward increasing the supply of rental housing and bringing vacant properties back onto the market. The authorities intend to pay special attention to the conversion of former offices, retail, and industrial spaces into housing.

For now, the changes are still in the planning stages and do not mean that the new Golden Visa category has already taken effect. Its practical implementation will require the appropriate regulatory framework.

Currently, the minimum investment amount under the Greek Golden Visa program depends on the type of property and the region. For Attica, Thessaloniki, Mykonos, Santorini, and islands with a population of more than 3,100 people, the main threshold is EUR800,000; in most other regions, it is EUR400,000. A separate preferential threshold of EUR 250,000 applies, in particular, to the purchase of a commercial property that is subsequently converted into residential housing, as well as to certain protected historic buildings in need of restoration. Official regulations provide for the issuance of a five-year residence permit to the investor.

According to data from the Greek Ministry of Migration and Asylum, 2,551 new applications for an initial residence permit under the Golden Visa program were submitted in the first half of 2026, which is 44% fewer than the 4,553 applications filed from January through June 2025. At the same time, authorities issued 4,919 new permits over the six-month period—21% more than a year earlier—as they continued to process a significant number of applications submitted in previous years.

Most new applicants continue to focus on investments in the range of EUR250,000–400,000, while properties falling below the EUR800,000 threshold are in significantly lower demand.

At the same time, obtaining a residence permit is far from the only reason foreigners purchase real estate. According to data cited in the Greek housing strategy, only about 7% of foreign buyers cite the Golden Visa as their primary motivation. About 30.8% view real estate in Greece as a place for permanent residence, 44.4% as a vacation home, and another 17.8% primarily as an investment. In 2026, the highest interest among foreign buyers is coming from citizens of the United States, the Netherlands, Germany, and the United Kingdom.

Crete remains the most sought-after region among foreign buyers, accounting for 42.9% of demand, followed by the Peloponnese with 22.9% and the Ionian Islands with 12.7%.

, , , ,

National Bank Revoked Licenses of Three More Financial Companies

The National Bank of Ukraine (NBU), based on the companies’ own applications, revoked the operating licenses of Forward Finance LLC, Statuscapital LLC, and Garonna Financial Company LLC and removed them from the State Register of Financial Institutions, the regulator announced on Friday.

The licenses granted the right to provide funds and precious metals on credit, as well as to engage in factoring.

The decision to revoke the licenses and remove the companies from the registry was adopted by the Committee on Supervision and Regulation of Nonbank Financial Services Markets on September 3.

According to the NBU, in the first half of 2026, LLC “FC Forward Finance” earned 518.84 million UAH in revenue from providing financial services and 48.5 thousand UAH in net profit. Statuscapital LLC generated 5.12 million UAH in revenue from financial services and 708,800 UAH in net profit, while

FC “Garonna” LLC ended the first half of the year with a loss of 2.94 million UAH.

, , , ,

Kyiv Oblast Has Delivered Five More Buses to Bucha from French Region of Île-de-France

The Kyiv Oblast State Administration has delivered five more passenger buses to Bucha as part of aid from its French partners—the Île-de-France region—according to the administration’s press service.

“Four buses had previously been added to the community’s fleet, and now five more have been added. The vehicles are adapted for people with disabilities and parents with strollers. The barrier-free design makes the buses more comfortable for all passengers,” the statement on the Telegram channel reads.

It is emphasized that this is an important step toward strengthening the local transportation system, as people’s daily mobility directly affects their quality of life.

In total, as part of the partnership with the Île-de-France region, Kyiv Oblast has already received 60 buses, which are being transferred to local communities.

, , , ,

Insurance premiums at Quorum Insurance Company fell by 25% in first half of year

Insurance Company “Quorum” (Kyiv) collected gross insurance premiums totaling 27.983 million UAH in January–June 2026, which is 25.4% less than during the same period in 2025, and net premiums by 27.978 million UAH (-18.9%).

This was reported by the rating agency (RA) “Standard-Rating” in an update on the company’s credit rating and financial stability rating on the national scale at the “uaAA” level for the specified period.

Revenues from individual policyholders at the insurance company decreased by 57.71% to 9.572 million UAH; there were no revenues from reinsurers. The share of individual policyholders in gross premiums for the first half of the year was 34.21%.

The RA also reports that insurance premiums ceded to reinsurers during the specified period amounted to 5,000 UAH, which is 99.83% less than during the corresponding period of 2025. Consequently, the reinsurers’ share of insurance premiums decreased by 8.01 percentage points—to 0.02%.

The volume of insurance payments and claims settled by the company over the first six months increased by 9.94%—to 5.487 million UAH. At the same time, the payout ratio increased by 6.30 percentage points to 19.61%.

The RA notes that the company operated at a loss in the first six months of 2026. The net loss amounted to 1.269 million UAH, whereas in the same period a year earlier, the company reported a net profit of 3.144 million UAH.

As of July 1, 2026, its assets decreased by 0.98% to 80.283 million UAH, equity decreased by 1.85%, to 67.150 million UAH, liabilities increased by 3.73%—to 13.133 million UAH, and cash and cash equivalents—by 3.36%—to 57.372 million UAH.

Insurance Company “Quorum” was established in March 2014 and specializes in risk insurance.

, , , ,

NBU Fined iPay 16.5 Mln UAH for Violations in Payment Market

The National Bank of Ukraine (NBU) has fined iPay (UPR LLC), an online platform for money transfers and online payments, 16.51 million UAH for violating the laws governing the payment market, the regulator announced.

It is noted that the violations, identified as a result of off-site supervision, concerned, in particular, inadequate control over the quality and sufficiency of information accompanying payment transactions.

The company must pay the fine within five business days from the date it is notified of the decision by the NBU’s Committee on Supervision and Regulation of Banking Activities and Oversight of the Payment Infrastructure.

In addition, the regulator issued a written warning to iPay for violating requirements regarding the management and authorization system for financial payment service providers.

The company must rectify the identified violations and take measures to prevent their recurrence within no more than 30 calendar days from the date of receiving the decision.

The committee adopted the relevant decisions on September 2.

As previously reported, in September 2025, the NBU had already fined iPay 16.6 million UAH for violations in the area of financial monitoring, specifically deficiencies in risk assessment, internal controls, handling of customer data, and reporting. At the same time, the company received a written warning for errors in reporting and record-keeping.

, , , ,