The relocation of Ukrainian businesses abroad, which in 2022 took the form of emergency evacuation, is becoming strategic planning to diversify risks, enter EU markets, and ensure business continuity, according to Kateryna Danilova, partner at Barristers Law Firm.
“While in 2022 relocation was often an emergency evacuation, it is now taking on the characteristics of strategic planning with the aim of diversifying risks, entering EU markets, and ensuring business continuity,” she told the Interfax-Ukraine news agency.
Danilova noted that “since the start of the full-scale invasion, Ukrainian businesses have kept up their interest in relocation, although it’s changed depending on what’s happening on the front lines and the overall economic situation.”
According to the lawyer’s observations, the information technology (IT) sector is the most active in terms of relocation, due to its mobility, focus on global markets, and minimal dependence on physical assets.
“For IT companies, relocation often means opening offices in EU countries to retain their teams, which also allows them to guarantee continuity and stability of services to their clients and simplifies access to international financial infrastructure. Many companies based in Diia.City are setting up overseas hubs while keeping a significant part of their development in Ukraine,” she said.
In addition, according to Danilova, manufacturing companies in light industry, woodworking, component manufacturing, and the food industry are also very active in relocation.
“The main driver for them is the desire to protect production facilities from physical destruction, bring production closer to European consumers, expand the sales market, etc.,” she said.
Agrarian and processing enterprises are also active in relocation, seeking opportunities to create processing capacities in neighboring EU countries to gain access to the market without logistical complications at the border.
In addition, these are companies in the creative industry, consulting, and marketing, which, like IT, are mobile and actively integrating into the European market.
Commenting on the geography of relocation, Danilova noted that the choice of a relocation country depends on many factors, including geographical proximity, logistics, business conditions, the availability of support programs, the tax climate, and cultural and linguistic similarities.
Currently, the main destinations for Ukrainian businesses are Poland, which leads in the number of relocated Ukrainian companies, and Germany, where Ukrainian businesses are attracted by economic stability, access to the largest EU market, and high purchasing power, although this country is “characterized by a higher level of bureaucracy and tax burden.”
In addition, Ukrainian businesses are relocating to Romania and Bulgaria, which are gaining popularity thanks to, in particular, competitive tax rates and lower labor costs, the Czech Republic and Slovakia, which are traditionally attractive due to their cultural proximity and favorable conditions for small and medium-sized enterprises, and the Baltic countries (Lithuania, Latvia, Estonia), which are “interesting for technology and innovation companies due to their developed digital infrastructure and favorable investment climate.”
However, Danilova stressed that “it is legally impossible to transfer an employee from a Ukrainian legal entity to a foreign one, as they are different business entities operating in different legal systems,” but in practice, companies use a number of mechanisms.
These include, in particular, dismissal in Ukraine and employment abroad, which is the most common and transparent mechanism, but requires the employee to obtain a residence and work permit in the country of relocation, or a business trip, which is risky for long-term work abroad.
In addition, companies use mechanisms for concluding civil law contracts, where an employee registers as an individual entrepreneur in Ukraine (or as an individual entrepreneur in the country of relocation) and concludes a service contract with a foreign company. This model is flexible but carries the risk of additional taxes and penalties.
Another common mechanism is intra-corporate transfer (Intra-Corporate Transferee), which is used in EU countries that have implemented the relevant EU Directive, which creates simplified conditions for the temporary transfer of key managers, specialists, and trainees within a group of companies. This requires, in particular, the existence of legally related Ukrainian and foreign companies. Another popular mechanism is outsourcing or “leasing” of employees, which involves removing employees from the payroll on condition that they are hired by a foreign company. However, Ukrainian legislation does not contain clear regulatory provisions governing such legal relations.
Commenting on the pitfalls of Ukrainian legislation in the field of relocation, Danilova noted a number of restrictions in the Ukrainian legal field, in particular, currency restrictions, rules for controlled foreign companies (CFC), transfer pricing (TP), as well as restrictions on travel abroad and the movement of assets.
In addition, banking compliance and opening a bank account for a new company in the EU founded by Ukrainian citizens, the complexity of managing a dual structure, the loss of preferential treatment upon the actual transfer of activities abroad, in particular IT companies, which may lose the advantages of the special legal and tax regime of Dnipro.City, as well as adaptation to foreign legislation.
“Relocating a business abroad is an effective tool for minimizing the risks of war, but at the same time it is a complex legal and organizational project. The success of relocation directly depends on comprehensive strategic planning that takes into account all legal, tax, financial, and operational aspects,” she said.
Barristers, BUSINESS, Danilova, ENTERPRISES, LAWYER, RELOCATION
The Athens residential real estate market continued to show steady growth in the first half of 2025 amid a recovery in tourism, investment, and economic stability in Greece, according to a market review.The National Bank of Greece recorded a 6.8% year-on-year increase in residential property prices in urban areas in the first quarter of 2025. The price index in nominal terms rose by 8.0% for new apartments and 6.0% for properties over five years old. Growth was 5.5% in Athens, 10% in Thessaloniki, and around 7.3% in other cities.
According to Spitogatos, average asking prices in Athens reached €2,317/m² in the center, €3,222/m² in the north, and €4,000/m² in the south of the city, corresponding to an increase of 7-9% compared to the first quarter of 2024.
Key market drivers:
• Domestic and foreign demand, including thanks to the Golden Visa program
• Infrastructure transformations, including the Ellinikon project on the Athens coast
• Limited supply of quality properties and a shortage of premium housing
Investment in residential and commercial real estate in Greece exceeded €5.9 billion in 2024, of which more than €3 billion was in the residential segment. In the first quarter of 2025, FDI inflows into the real estate sector amounted to approximately €520 million (43% of total investment inflows into the country).
Experts predict that during 2025, price increases will slow to around 4-6%, especially in Athens, and the market will move to more moderate price growth rates after the turbulent dynamics of 2022-2023.
Forecast for August-September 2025
Analysts expect prices to continue rising in central Athens despite seasonality and a possible slowdown in demand, as favorable factors remain in place: the tourist season, foreign investor activity, a construction shortage, and the Golden Visa program.
In August, demand remains strong, especially for apartments ranging from 60 to 80 square meters. In September, there may be moderate stagnation or a slight correction amid expectations of ECB decisions and a seasonal slowdown in activity, but overall the market will remain stable, with potential for growth by the end of the year.
Source: http://relocation.com.ua/athens-residential-real-estate-market-analysis-by-relocation/
Unemployment in Spain fell in the second quarter to its lowest level since 2008. According to the Spanish statistics agency INE, unemployment in the country fell to 10.29% in April-June, compared with 11.36% in the previous quarter. Analysts polled by Trading Economics had expected a more moderate decline to 10.7%.
The number of unemployed fell by 236,100 to 2.55 million. At the same time, the number of employed increased by 505,500 to 20.27 million.
Source: http://relocation.com.ua/riven-bezrobittia-v-ispanii-znyzyvsia-do-minimumu-z-2008-roku/
The German government plans to introduce stricter rules for receiving social assistance for the unemployed, including refugees from Ukraine, German Chancellor Friedrich Merz said in an interview with ARD television on Sunday. In an interview with ARD on Sunday, July 13, Merz confirmed that citizens in need of support will continue to receive it. However, the German government intends to introduce stricter rules for applicants.
“People who can work must work,” Merz emphasized. In addition, housing cost requirements may be tightened, for example, by introducing rent caps or checks on living space.
According to the German chancellor, there is significant potential for savings when, as part of the reform, basic income will be paid to citizens instead of benefits from 2026. “More than one or two billion can be saved,” Merz said, adding that the “change in the system” must take place “step by step.”
According to Merz, the aim of basic income should be “to ensure that those who really need state assistance continue to receive it in the future.” “I would even be prepared to increase the rates, for example in the event of sudden unemployment, so that those affected can quickly find new jobs,” he said.
In 2024, around 826,000 working citizens in Germany were unable to live on their wages. The state paid them “Bürgergeld” (citizen’s income) amounting to EUR 7 billion. Among the recipients of “Bürgergeld” in Germany are Ukrainian refugees from the Russian war.
According to DW, as of 2024, there were 1.25 million Ukrainians living in Germany, 296,000 of whom were employed. Another 211,000 Ukrainians in the country were unemployed, and 98,000 were attending integration courses.
Preferential roaming between Ukraine and the EU will remain available until the end of 2025, according to the National Commission for the State Regulation of Electronic Communications, Radio Frequency Spectrum, and Postal Services (NCC).
According to a statement on its Facebook page on Wednesday, the NCCIR and the European Commission confirm the extension of the Joint Statement between Ukrainian and European operators on ensuring roaming for Ukrainians in the European Union for the next six months, until December 31, 2025.
It is noted that this is the sixth extension of the agreements, which have been in force since April 2022.
“Staying connected is a basic need that becomes critical in times of war. Since the first days of the full-scale invasion, the NCCIR has been working to ensure that Ukrainians remain connected, including abroad,” said NCCIR Chair Lilia Malyon.
“The joint statement has become an exceptional and effective tool. I am grateful to Ukrainian and European operators who continue to provide favorable conditions for Ukrainians, as well as to colleagues from the EC and BEREC for their support and joint work. Our team continues to move confidently towards a Single Digital Market for roaming in the EU,” Malion added.
In addition, the joint statement also provides favorable communication conditions for EU citizens in Ukraine.
The press service also reminded that the NCC team, together with colleagues, is completing work on Ukraine’s accession to the EU’s single roaming area “Roaming Like at Home” (RLAH), which is expected as early as January 1, 2026.
The European Central Bank (ECB) considers the current level of key interest rates to be justified and remains committed to the goal of maintaining inflation in the euro area at 2% in the long term, ECB President Christine Lagarde said.
“Our aspiration, commitment and duty is to ensure price stability, and this corresponds to inflation in the region of 2%,” she said in an interview with the German newspaper ARD. “We have succeeded, inflation is already at 2%, and we will continue to work in this direction.
“We will do everything necessary to ensure that inflation remains at this level,” Lagarde added. “Uncertainty is high, we are surrounded by unpredictability, but there is confidence and stability in terms of prices.
Meanwhile, François Villeroy de Galo, Governor of the Bank of France and member of the ECB Governing Council, warned that the 14% strengthening of the euro since the beginning of the year poses a risk of too low inflation.
In his opinion, a 10% rise in the euro reduces inflation by 0.2 percentage points over the next three years.
“This may increase the risks that inflation will be below our target, and we cannot ignore this,” de Galo said.
Earlier, ECB Vice President Luis de Guindos noted that the rise of the euro/dollar pair above $1.2 could complicate the central bank’s task of achieving the target inflation rate.
The ECB has cut rates eight times over the past year, and now the key deposit rate is 2%. Analysts and market participants generally expect that the regulator will not change rates at the July meeting in order to assess the impact of the measures already taken on the eurozone economy.
