The introduction of new regulations by Ukraine allowing businessmen from Pakistan and other nations to become e-residents is an exciting development. As a result, they are able to set up shop in Ukraine, run their companies from a distance, and file their taxes electronically.
The Ukrainian government wants to attract foreign businesspeople and establish an innovation hub. A full launch of the e-residency program is imminent and is currently being tested. It’s crucial to remember that e-residents cannot offer services to Ukrainian citizens, and some nations, such as Russia and Belarus, are not accepted as e-residents.
Countries known for outsourcing IT services are among the target markets for Ukrainian e-residency. The program is subject to specific tax laws, and e-residents are required to pay a portion of their income depending on the nature of their business activity. Additionally, e-residents are now able to open bank accounts thanks to the Ukrainian National Bank. Since 2019, Ukraine has been working on the e-residency initiative as part of its efforts to grant foreign nationals a special status.
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