Ukraine proposes to allow foreign IT specialists to conduct business remotely

The Verkhovna Rada Committee on tax and customs policy recommended that the parliament adopt draft law No. 5270 in the second reading. The draft law provides for obtaining e-residency for foreigners. This is reported by the press service of the Ministry of transformation of Ukraine.

After the adoption of the bill, foreigners will be able to:

get the status of an e-resident;register as a group 3 sole proprietor without a physical presence in Ukraine;pay a single tax of 5% of the amount of income;open an online bank account for business activities.

Taxation and reporting for e-residents will be automated. This, in turn, will contribute to filling the state budget of Ukraine and developing the digital brand of the state, according to the Ministry of Digital Development.

"The same e-residency model is already being used in Estonia, the most digital State in the world. About 100 thousand foreigners received the status of e-residents there. We have used the European experience and created the best conditions for doing small business in Ukraine. For us, this is an opportunity to get additional budget revenues and establish ourselves as a country with a powerful it brand," wrote Mikhail Fedorov, Minister of digital transformation.

The next stage of adoption of the bill is voting in the Hall of the Verkhovna Rada.