Finally, what we had been talking about for so long has come true talked for a long time The Ministry of Digital Transformation has made electronic residency (e-residency or uResidency) available to citizens of some countries.
uResidency offers a quick way to start a business without paperwork and bureaucracy from anywhere in the world.
«We have created the best conditions for Ukrainian entrepreneurs — registration of a sole proprietorship is the fastest in the world, tax payments are made in a few clicks, and additional business services are available online. We are now ready to scale this experience to foreigners, as it is easier and more profitable to become an e-resident in Ukraine than to open a business anywhere else in the world, with a tax rate of only 5%», ─ declares Minister of Digital Transformation Mykhailo Fedorov.
To become an e-resident, you just need to fill out an application in the application or on the uResidency portal. It takes about 5-10 minutes. After a quick check, the resident will receive a CEP at the consulate, without having to visit Ukraine. Next, you can open a sole proprietorship online, and all further interactions will take place automatically.
The uResidency project has fully automated reporting: the bank will calculate taxes, submit a declaration, and take care of all the bureaucratic red tape without any physical interaction with institutions. Everything happens automatically, without human intervention. Program participants do not have to spend money on an accountant or lawyer – the system does all their work, and the resident simply goes about their business.
The first e-residents have already opened bank accounts and were very pleased with the result, says Fedorov.
The program is currently available to citizens of India, Pakistan, Thailand, and Slovenia. At the first stage, it is planned to attract about 1,000 e-residents, and more countries will follow.
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