E-Resident: Foreign Business in Ukraine

Under the terms of the “E-Resident" project, a foreign citizen can obtain the status of an entrepreneur in Ukraine. Developed for IT professionals and online service providers.

PrivatBank submits reports and pays taxes on behalf of an e-resident. 5 or 15% depending on the income amount.

Settlement and cash service for e-residents

Tariff Commission fee
Account opening (USD and EUR) Not charged
Monthly service for each account USD/EUR 10 (depending on the currency of an account)
Outgoing SWIFT transfers USD/EUR 30 (depending on the currency of a payment)
Account closure fee The entire account balance if it is less than USD/EUR 30 (depending on the currency of an account)
Incoming SWIFT transfers Not charged
Statements, certificates in "Privat24 for business" Not charged
Account closure Not charged


PrivatBank is a state-owned and the largest bank in Ukraine.

State-owned bank. We provide assistance in ensuring transparent business operations, including tax compliance and adherence to financial legislation, allowing our international customers to focus on their core activities. Engaging in business activities in another country always entails additional interactions with the government, and it is more convenient to maintain those interactions via a state-owned bank.

The biggest bank. We provide services to over 18 million private individuals and more than 770,000 legal entities and entrepreneurs. We solve a lot of business issues. We have developed the “Privat24 for business" online banking platform to allow our customers to conveniently manage their business activities using their computers.

Market share of PrivatBank in Ukraine.

  • Service provision to legal entities: 45%.
  • Service provision to private entrepreneurs: 62%.


How to open an e-resident bank account?

Step 1. Register in “uResidency” information system.
Step 2. Pass video verification of the Bank.
Step 3. PrivatBank opens foreign currency accounts for e-residents.
Step 4. A non-resident can transfer funds via SWIFT transfer to their accounts abroad.


Where can you spend money?

An e-resident can transfer currency to his/her foreign currency account in a foreign bank.


"Privat24 for business"online banking platform

By using your smartphone or computer, you are able to:

  • view invoices and statements;
  • create SWIFT transfers;
  • order certificates.

According to the instructions: link


Where can an e-resident contact with questions about banking services?

You need to send your question to the e-mail: vipcorp@privatbank.ua


What determines the amount of taxes that an e-resident has to pay?

The tax rate is 5% for receipts to the account up to 200,000 USD (or 1,167 minimum wages in Ukraine).

If the limit is exceeded, the tax will be 15%.


How to create a SWIFT payment for a funds transfer?

According to the instructions: link

 

Where can a customer view the PrivatBank service agreement?

E-resident can view the agreement at the link. 

 
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