Ukraine offers several opportunities to foreigners, who would like to open a business or invest in Ukraine.
If a foreigner opens a company in Ukraine and employs himself in the company in any position (usually becomes a director), then the foreigner is eligible for a 3-year work permit, an employment visa and a 3-year temporary residence permit (TRP). This TRP can be prolonged after three years for a new 3-year period. No investment is required, but employment of the foreigner is required for this option.
It takes one week to register a company, two weeks to get a work permit, one week to get an employment visa based on a work permit (to get a visa, a foreigner should travel out of Ukraine) and three weeks to get a TRP. The total is about 1,5 months. After getting a TRP a foreigner should also register his address of residence in Ukraine.
Another option is to invest an amount of 100 000 EUR into a company. If so, the foreigner could pretend to a 3-year TPR (without being employed, getting a work permit and an employment visa) or can even apply directly for a permanent residence (PR).
There are also some other options for getting a TRP, like family reunion, volunteering, studying, regular employment, etc.
Investing into Ukrainian economy an amount of over USD 100 000 allows foreigners to apply for an immigration permit and then for a permanent residence permit (PRP).
It takes up to 12 months to get an immigration permit and three weeks to get a PRP. Hence, usually a foreigner applies first for a TRP and only then for a PRP, because of the long time it takes to obtain a PRP.
To be able to apply for a PRP, a foreign national should make an investment into the company’s account, which was incorporated in Ukraine. This is the only way for the investment, which allows to get a PRP. Direct investment into real estate, equipment or transport does not allow investors to apply for a PRP.
Usually, a foreigner incorporates a company in Ukraine, then forms a charter capital in amount over 100 000 USD and only then makes a transfer from his personal bank account into the company’s account with the purpose of “forming the charter capital of the company”. Then the bank provides a document proving the investment. It can be used as a ground for applying for a PRP. The investment can be spend on any type of business, even for buying real estate with the purpose for renting it out.
There are also other grounds for getting an immigration permit and a permanent residence as a result, like finding Ukrainian roots, having a child, etc. Please find the exhaustive list of grounds on the official website of The State Migration Service of Ukraine.
A person can apply for Ukrainian citizenship, who:
has been permanently living in Ukraine during last 5 years (typically on TRP’s or a PRP);
understands Ukrainian language;
resigns from his primarily citizenship.
There are other formalities but they are insignificant in comparison to the above mentioned.
It also takes a long time to get citizenship, not less than 12 months for sure.