The Cabinet of Ministers of Ukraine at a meeting on Thursday approved the launch of electronic residency in Ukraine.
“This is one of the unique projects of the Ministry of Digital Transformation, which can make Ukraine a powerful East European IT hub. Thanks to e-residency, in the near future, our country will become attractive for foreigners to do business, primarily IT specialists,” Deputy Prime Minister, Minister of Digital Transformation Mykhailo Fedorov said, commenting on the decision on his Facebook page.
According to him, online, without the need to visit Ukraine, foreigners will receive a Ukrainian qualified electronic signature, registration number of a tax payer’s account card, the ability to open an online account with a Ukrainian bank, and simplified access to administrative services in Ukraine.
“We see foreign IT specialists working for Ukrainian companies, as well as specialists from countries of the Asia-Pacific region and neighboring countries, for whom the status of Ukraine’s e-resident will help to effectively cooperate in the European market, as the first e-residents. Of course, all e-residents will pass a thorough check in Ukraine by law enforcement, financial authorities and the Ministry of Digital Transformation,” he said.
According to Fedorov, in the near future, the Ministry of Digital Transformation and other government agencies will develop a regulatory framework for the launch of the project. It is planned to launch an e-residency portal by the end of the year.
Citizens of Ukraine have registered the most companies in Estonia using the e-residency system – 423 companies, the head of the Tallin office of Ilyashev and Partners Vitaliy Halytskykh has said. “Ukrainians top registrations – 423 companies, while 2,131 Ukrainian citizens have received e-residency cards. Next comes Finland – 315, Germany – 311. Demand is growing,” he said in an interview to the Kyiv-based Interfax-Ukraine news agency.
Some 3,444 companies have been registered using the e-residency card, while in November 2017 the number was 3,000.
“The e-residency card does not offer tax residency or the right to visit Estonia, but allows the use of all government services, including registering companies online, online banking, signing contracts electronically, serving motions online, et cetera – about 99% of all state services can be used online, and e-Residency in Estonia makes them internationally available. This has attracted Ukrainian business,” Halytskykh said.