Doing Business in Ukraine

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Doing Business in Ukraine is a guide created for clients and partners of BDO in Ukraine, containing key information about starting and running a business in Ukraine.

The material covers:

  • Economic and investment climate: Despite the ongoing war, Ukraine remains an attractive investment prospect, showcasing resilience and implementing reforms in key areas such as digitalisation, corporate law and the tax system. The country boasts a robust IT sector, a thriving agricultural industry, access to EU markets, and government initiatives to support investors.
  • Forms of businesses. The most common forms are LLC and JSC. There is also the option of opening a representative office for a foreign company or operating as a sole proprietor. The requirements for registration, management, auditing, and disclosure of information about ultimate beneficial owners are described.
  • Tax system: Main taxes are corporate, personal, military, VAT, customs duty, excise duty, property tax, land tax and rent. Rates, tax base, specifics of permanent establishments, transfer pricing rules, thin capitalisation and controlled foreign companies have been described.
  • Special regimes and incentives: Diia.City — a special regime for IT businesses with tax and non-tariff advantages. Tax incentives are provided for certain categories of businesses and investors.
  • Taxation of individuals: Individuals residing in the country are liable for taxation on their worldwide income, while non-residents are only obligated to pay tax on their income derived from Ukraine. Rates, base, military tax, single social contribution have been described.
  • VAT and other taxes: VAT rates, administration mechanics, registration, specifics of import/export have been described. Additionally — customs duties, excise taxes, property tax, land tax, rent payments.



Doing Business in Ukraine



The material will be of use to investors, entrepreneurs and companies planning to enter the Ukrainian market or already operating here. The guide provides practical advice, current tax rates, registration and business requirements, and BDO contact information for consultation.

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Key Contacts

Viktor Nevmerzhitsky

Viktor Nevmerzhitsky

Tax & BSO Partner
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FAQ (Frequently Asked Questions)

Excise Duty — an indirect tax imposed on specific categories of goods, such as alcohol, tobacco, and fuel.

Joint-Stock Company (JSC) — a type of business in which the capital is divided into shares, which may be offered for sale publicly or privately.

Beneficial Owner — an individual who ultimately controls the company; information about them is subject to mandatory disclosure.

Diia.City — a special legal framework for the IT sector that provides tax benefits and specific regulatory conditions.

Single Social Security Tax (SSST) — a mandatory contribution paid to fund employees’ social insurance.

Corporate Tax — a tax on a company’s profits, calculated as the difference between income and expenses.

Controlled Foreign Companies (CFCs) — rules requiring Ukrainian tax residents to declare and pay tax on the profits of their foreign companies.

Customs Duty — a tax on the import or export of goods.

Value Added Tax (VAT) — a tax levied on the supply of goods and services, as well as on imports.

Representative Office of a Foreign Company — an office of a foreign legal entity in Ukraine, which may conduct economic activities or perform exclusively representative functions.

Rent Payments — payments made for the use of subsoil resources, special resources, or state property.

Limited Liability Company (LLC) — the most common form of business in Ukraine, offering flexible management terms.

Thin Capitalisation — rules limiting the deduction of interest expenses from a company’s costs when a significant portion of financing is debt-based.

Transfer Pricing (TP) — monitoring of transactions between related parties to prevent the underreporting of the tax base.

Sole Proprietor (SP) — a form of business for self-employed individuals and small businesses.