Permanent residence in Ukraine through investments and the creation of a company

Every year the immigration quota for the category of persons who plan to obtain a permanent residence permit in Ukraine through making investments is determined according to the proposals of the Ministry of Economy. That is the limit number of such persons for this year. We should note at once that the amount of investment must be not less than 100 thousand US dollars.

The quota is determined for every region separately, for example, for the Kyiv region it could be 100 people, and for Volyn region - 5, or even 0. Moreover, the quota is approved annually by March 1. It is necessary to take all this into consideration before submitting the documents, so that it does not happen so that at the moment of application the quota is not approved yet, or is already depleted for the current year.

Taking our Clients as an example, we will tell you how to receive a permanent residence permit in Ukraine in practice, how long this process takes and how to handle it with the least risk of losing money or time.

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Practical aspects of the procedure for obtaining a permanent residence permit on the basis of investments

Investments are all types of values invested specifically by a foreigner in entrepreneurial activities. That is, if an apartment, house, plot of land, car, equipment purchased for yourself, then it is not an investment, but if for a legal entity, it is already an investment (for example, a store, office, etc.). It can also be acquired by a foreigner shares of the company and even copyrights, trademarks.

To obtain a permit, the foreigner must provide a passport and documents on:

• place of residence abroad;

• place of residence in Ukraine;

• family composition (for example, if married).

Also obligatory are:

• a certificate of no criminal record from the country of previous residence;

• medical documents confirming absence of the diseases determined by the Ministry of Health (including chronic alcoholism, substance abuse, drug addiction, certain infectious diseases);

• document of payment for the administrative service.

Let's consider the variant, when the investment is made by means of buying of shares in a Ukrainian company.

Copies of the company's charter and/or registered agreements (contracts) on investment activities should be prepared. It is obligatory to obtain a certificate from the bank on the availability of an investment account, into which a foreign investment was received (the amount is not less than one hundred thousand US dollars).

Our lawyers will help you in solving the issue of opening an investment account in a bank, company registration, determining the terms of taxation, reporting, etc.

For example, there was a case in our company's practice when a client from Saudi Arabia addressed us and wanted to try organizing his own business in Ukraine. Our specialists helped in obtaining an identification code, opening of a company, obtaining work permit and visa documents as well as obtaining a temporary permit. Assisted in obtaining corresponding licenses, maintenance of company accounting and reporting.

After some time, the Client began to expand the business in Ukraine and expressed a desire to obtain a permanent residence permit. Our lawyers:

• helped to open an investment account in a bank establishment;

• explained the preparation and processing of the documents for the immigration permit;

• helped to submit the corresponding application.

After conducting the checks by the migration service, our Client received a permanent residence permit.

The following points of the procedure are important:

• foreign currency must be recognized as convertible by the National Bank of Ukraine;

• the investment can be in the form of acquisition of a Ukrainian company or its shares, or the formation of enterprises wholly owned by foreign investors, for example, a branch of foreign legal entities.

Please note that the Migration Service accepts applications for registration of immigration to Ukraine only if all documents are available (you can not then bring, replace, etc.). That is all must be completed correctly and meet the requirements. After this begins the checks, which can take up to one year.

Checks are carried out not only by the migration service, but also by the national police (for example, the fact of criminal prosecution, as well as actual residence at the specified address), the Security Service of Ukraine, Interpol and the State Border Guard Service.

If after examination of documents it is determined that the person has a criminal record or a ban on entry into Ukraine, has submitted false or forged documents, a decision to refuse is made. In this case, you can apply again on this issue not earlier than in a year.

If you still have questions about obtaining a residence permit on the basis of an investment, please contact our experts.

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