At the Lviv IT Arena, Digital Transformation Minister Mykhailo Fedorov announced on Sept. 27 that Ukraine has launched uResidency, a program that allows foreigners to start a business in the country remotely. This program offers favorable conditions for conducting business, such as a 5% tax on profits, the ability to register as individual entrepreneurs remotely, and the option to conduct business through a mobile app and website.
The goal of this program is to attract foreign entrepreneurs and investments to Ukraine, as well as to support the country’s economy. Fedorov stated that through technology, Ukraine can create innovative products that will help grow the country’s brand. He also mentioned that uResidency is a revolutionary project, with only a few similar programs existing in the world.
Contrary to what the name suggests, uResidency does not provide a pathway for permanent residency in Ukraine. Foreigners do not need to physically travel to Ukraine to obtain “e-residency status.” Instead, they can undergo a one-time offline verification at the Ukrainian consular office in their country of residence, followed by an online procedure.
The uResidency program was developed with the support of the European Union and the eGovernance Academy of Estonia. Currently, it is available to citizens of India, Pakistan, Thailand, and Slovenia, with plans to expand to other countries in the future. The first phase of the program is expected to involve around 1,000 e-residents.
The Digital Transformation Ministry‘s ultimate goal is to create “the state in a smartphone,” which was initiated in 2020 with the launch of the Diia app. This app allows Ukrainians to access digitized versions of official documents, such as passports, driver’s licenses, and tax IDs. It also offers services like business registration and birth registration.
Last year, President Zelensky announced that Ukraine is helping other countries in Europe, Latin America, and Africa to develop their own versions of Diia. This shows Ukraine’s commitment to digital transformation and its efforts to become a more innovative and technologically advanced country.
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