Business news from Ukraine

FOREIGNERS WHO INVESTED OVER $100,000 WILL HAVE OPPORTUNITY TO APPLY FOR IMMIGRATION PERMIT IN UKRAINE

Foreigners and stateless persons who have invested over $100,000 in enterprises established by them in Ukraine will have the opportunity to apply for an immigration permit in Ukraine.
The relevant resolution was adopted by the Cabinet of Ministers at a meeting on Wednesday without discussion, an Interfax-Ukraine correspondent said.
According to the draft document posted on the government’s website, such investments must be confirmed by a certificate from the bank on the receipt of such an amount to the immigrant’s investment account and its use for foreign investment in the Ukrainian economy. Or a bank certificate on the transfer of such an amount to the current account of the enterprise from the personal foreign account of the immigrant.
In turn, the State Migration Service of Ukraine, in accordance with the document, checks in the bank before making a decision whether these investments have not been returned.
In addition, the government has included persons who have served in the Armed Forces for more than three years in the list of those who are subject to immigration quota and who are eligible to apply for Ukrainian citizenship.

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PRESIDENT OF UKRAINE WANTS DEVELOP IT INDUSTRY BY IMPROVING PROCEDURE OF IMMIGRATION TO IT SPECIALISTS

President of Ukraine Volodymyr Zelensky has set the government to draft and submit to the Verkhovna Rada bills aimed at developing the IT industry in Ukraine.

According to the presidential website, Zelensky signed relevant decree No. 371/2020 on September 3, 2020.

According to the document, the Cabinet of Ministers, with the involvement of representatives of government agencies, business associations, independent experts and MPs, should draft and submit to the parliament bills aimed at stimulating the implementation of economic activities in the field of information technologies within three months.

In particular, at the legislative level, the temporal features of the taxation of salaries of IT specialists who are in labour relations with IT companies should be determined in order to establish an effective level of the tax burden and promote the shadowing of the salary sphere and increase the competitiveness of internal IT companies in the external market.

The president also insists on improving the procedure for carrying out procedural actions in the course of criminal proceedings in order to prevent unjustified interference in the activities of IT companies.

In addition, according to the decree, the government should improve the procedures for obtaining an immigration permit by IT specialists who are foreigners or stateless persons and immigrating to Ukraine and obtaining a work permit for foreigners and stateless persons by an employer (IT company).

The Cabinet of Ministers should also contribute to the development of education in the field of information technology and the integration of the best world practices into the system of training IT specialists to increase their competitiveness in the labour market.

According to the document, the improvement of vocational training, retraining and advanced training of the unemployed should be ensured be involving educational institutions that train specialists in the IT field.

The decree comes into force on the day of its publication.

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