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Registration of permanent residence in Ukraine for foreign investors

30.11.2021

02/15/2018

The Law of Ukraine "On Immigration" establishes that foreigners and stateless persons who have made a foreign investment in the economy of Ukraine with foreign convertible currency in the amount of at least 100 (one hundred) thousand US dollars, have the right to immigrate to Ukraine and obtain an immigration permit, and then a permanent residence permit.

Investors can obtain an immigration permit within the immigration quota. This means that during a calendar year, only a limited number of foreigners are required to grant an immigration permit. The immigration quota is established by the Cabinet of Ministers of Ukraine.

In the context of this issue, it is important to understand what a foreign investment is and when it gives an investor the right to immigration.

Investment and investment activity concept

Investments in accordance with the Law of Ukraine "On Investment Activity" are all types of property and intellectual values ​​that are invested in objects of entrepreneurial and other types of activity, as a result of which a profit (income) is created and / or a social and environmental effect is achieved.

Investment activity is a set of practical actions of citizens, legal entities and the state as regards the implementation of investments.

Investment activity is carried out, among others, on the basis of foreign investment, which is carried out by foreign states, legal entities and citizens of foreign states. That is, foreigners are subjects of investment activity in Ukraine and are legally defined as foreign investors.

Foreign investments of the Law of Ukraine "On the regime of foreign investment" are defined as values ​​invested by foreign investors in objects of investment activity in accordance with the legislation of Ukraine in order to make a profit or achieve a social effect.

Foreign investments can be carried out in the form:

foreign currency, which is recognized as convertible by the National Bank of Ukraine;
currency of Ukraine - in accordance with the legislation of Ukraine;
any movable or immovable property and related property rights;
shares, bonds, other securities, as well as corporate rights (ownership rights to shares (share) in the authorized capital of a legal entity created in accordance with the legislation of Ukraine or the legislation of other countries), expressed in convertible currency;
monetary claims and the right to claim the fulfillment of contractual obligations, which are guaranteed by first-class banks and have a value in convertible currency, confirmed in accordance with the laws (procedures) of the investor's country or international trade customs;
any intellectual property rights, the value of which in convertible currency is confirmed in accordance with the laws (procedures) of the investor's country or international trade customs, as well as confirmed by an expert assessment in Ukraine, including copyrights legalized in Ukraine, rights to inventions, utility models, industrial designs, marks for goods and services, know-how, etc .;
rights to carry out economic activities, including the rights to use subsoil and the use of natural resources, provided in accordance with legislation or an agreement, the value of which in convertible currency is confirmed in accordance with the laws (procedures) of the investor's country or international trade customs;
other values ​​in accordance with the legislation of Ukraine.
Speaking about the implementation of a foreign investment as a basis for obtaining an immigration permit, it should be borne in mind that the legislation on immigration speaks of making an investment in the form of foreign currency, which is recognized as convertible by the National Bank of Ukraine. Accordingly, foreign investments can be carried out in the following forms:

equity participation in enterprises created jointly with Ukrainian legal entities and individuals, or the acquisition of a stake in operating enterprises;
creation of enterprises wholly owned by foreign investors, branches and other separate subdivisions of foreign legal entities, or the acquisition of the ownership of operating enterprises in full.
On the territory of Ukraine, enterprises with foreign investments are created and operate in the forms provided for by the legislation of Ukraine. The most common form in Ukraine is a limited liability company.

In this case, the investment must comply with the following mandatory criteria:

contributed by foreign convertible currency (these are the currencies of the first group of the Classifier of foreign currencies and bank metals of the National Bank of Ukraine, including the US dollar, euro, Swiss franc, pound sterling, Australian, Canadian, Hong Kong, Singapore dollar, Korean won, Chinese yuan, Danish, Norwegian , Czech, Swedish krona, zloty, yen, Israeli new shekel, Mexican peso, Romanian leu, forint,

kuna, Bulgarian lev, precious metals)
be equivalent to at least 100 (one hundred) thousand US dollars;
to be an investment in the Ukrainian economy, that is, to be used for the purpose of conducting economic activities, making a profit or achieving other social effect;
be of legal origin;
entered in a specific order, which we will discuss below.
According to the Economic Code, the assessment of foreign investments, including contributions to the authorized capital of an enterprise with foreign investments, is carried out in foreign currency and in hryvnia, by agreement of the parties, based on the prices of international markets or the Ukrainian market. In this case, the recalculation of amounts in foreign currency in hryvnia is carried out at the rate set by the National Bank of Ukraine.

For foreigners, the question often arises whether the purchase of real estate is an investment in the Ukrainian economy and, accordingly, the basis for obtaining an immigration permit. No, the purchase of real estate is not an investment in the Ukrainian economy and, accordingly, is not a basis for obtaining an immigration permit.

The procedure for investing in the Ukrainian economy

Resolution of the Board of the National Bank of Ukraine dated 10.08.2005 No. 280 "On the settlement of issues of foreign investment in Ukraine" (hereinafter - Resolution of the NBU No. 280) determined the procedure for foreign investment in Ukraine in cash. Clause 2.1 establishes that in order to make foreign investments in Ukraine, a foreign investor has the right to:

open an investment account and transfer foreign currency to it from abroad;
transfer foreign currency from abroad directly to the resident's current account;
sell foreign currency from an investment account and credit the investment account with funds in hryvnia received from the sale of foreign currency for the further implementation of foreign investment;
transfer funds in hryvnia and foreign currency from their own investment account to the resident's current account, investment account of another foreign investor or correspondent account of a foreign central bank;
transfer funds in foreign currency of the 1st group of the Classifier and hryvnia from the own current account of a non-resident individual in an authorized bank to his investment account;
transfer funds in hryvnia from their own investment account to an account of an international financial organization opened with an authorized bank, which has permission from the central executive body that ensures the formation of state financial policy, to issue bonds on the territory of Ukraine, to invest in these bonds.
The formation and increase of the authorized capital of authorized banks with the participation of a foreign investor is carried out in accordance with the requirements of the normative legal act of the National Bank of Ukraine, which regulates the procedure for the creation and registration of banks, licensing their activities, the opening of separate divisions by banks.

Settlements for investment objects are carried out exclusively through accounts opened with authorized banks. An authorized bank is a bank that has a general license from the National Bank to carry out foreign exchange transactions.

The Law of Ukraine "On Immigration" establishes that in order to obtain an immigration permit on the basis of their investment, foreigners must, in support of this, provide copies of the charter and / or registered agreements (contracts) on investment activities and a bank certificate on the receipt of foreign investments in the economy of Ukraine by foreign convertible currency in the amount of at least 100 (one hundred) thousand US dollars.

"The procedure for the production of applications for granting an immigration permit and applications for its cancellation and the implementation of decisions to the investment account of such a foreigner a foreign investment in the form of foreign convertible currency contributed by a foreigner in the amount of at least 100 (one hundred) thousand US dollars and its use for foreign investment in the economy of Ukraine. The certificate is signed by the head of the bank or its separate subdivision (branches, departments, representative offices), contains the date of issue, number, is stamped and is valid for six months from the date of issue.

It follows from this that investment in the Ukrainian economy, which in the future may be the basis for registration of permanent residence in Ukraine, should be carried out through the opening of an investment account in banks of Ukraine and transfer of foreign currency to it from abroad.

NBU Resolution No. 280 defines an investment account as a current account in foreign currency of the 1st group of the Classifier of Foreign Currencies and Bank Metals, approved by the Resolution of the NBU Board of February 4, 1998 No. 34 (hereinafter - Classical

atator) and / or in hryvnia, opened by a non-resident investor (legal entity or individual) in the Authorized Bank of Ukraine (hereinafter referred to as the authorized bank) in accordance with the requirements of Chapter 16 of the Instruction on the procedure for opening, using and closing accounts in national and foreign currencies, approved Resolution of the NBU Board of November 12, 2003 No. 492, (hereinafter referred to as the Instruction on Opening an Account), for carrying out investment activities in Ukraine, as well as for the return of foreign investment and profits, income, and other funds received by a foreign investor from investment activities in Ukraine.

Foreign investors in accordance with the aforementioned Resolution are persons carrying out investment activities on the territory of Ukraine (legal entities created in accordance with legislation other than the legislation of Ukraine; individuals - foreigners who do not have a permanent residence on the territory of Ukraine and are not limited in legal capacity; foreign states, international governmental and non-governmental organizations, other foreign subjects of investment activity, recognized as such in accordance with the legislation of Ukraine).

Investment account opening procedure

A.1.3. Resolution of the NBU Board of 08/10/2005 No. 280 "On the settlement of issues of foreign investment in Ukraine" establishes that foreign investment in Ukraine in cash is allowed to be carried out in hryvnia and foreign currency only of 1 group of the Classifier. As noted above, these are US dollar, euro, Swiss franc, pound sterling, Australian, Canadian, Hong Kong, Singapore dollar, Korean won, Chinese yuan, Danish, Norwegian, Czech, Swedish krona, zloty, yen, Israeli new shekel, Mexican peso , Romanian leu, forint, kuna, Bulgarian lev, precious metals. An authorized bank is prohibited from crediting foreign currency of 2 or 3 groups of the Classifier, which is transferred from abroad for the purpose of a foreign investor's investment activities on the territory of Ukraine, to an investment account of a foreign investor, to a current account of a resident, as well as to a current account opened with an authorized bank to conduct joint investment activities without creating a legal entity with the participation of a foreign investor (hereinafter referred to as the joint activity account). In these cases, the funds are returned to the bank account from which they were received.

The procedure for opening an investment account is established in the Instructions for Opening an Account, namely in Chapter 16 “Procedure for Opening Accounts for Non-Resident Investors and Using Funds on These Accounts”.

"16.1. Opening an investment account in national or foreign currency is carried out in the following order.

Persons (person) who (who) open an account must:

present a passport or other identity document and documents confirming their authority. Resident individuals additionally present a document issued by the relevant supervisory authority, certifying their registration in the State Register of Individuals - Taxpayers;
submit documents (copies of documents, certified in accordance with the established procedure) according to the list determined by this chapter of the Instructions.
On the basis of these documents, the authorized employee of the bank carries out the identification of the non-resident investor and the identification and verification of the persons (persons) authorized to manage the investment account on his behalf.

A bank account agreement is concluded in writing between a bank and a person authorized by a non-resident investor.

16.2. To open an investment account in national or foreign currency, account managers personally submit the following documents to an authorized bank:

an application for opening a current account (Appendix 2 or 6). In the application in the line "Additional information" it must be noted that the account is being opened for the purpose of making an investment in Ukraine;
a copy of a legalized or apostilled excerpt from a trade, banking or judicial register or a registration certificate of a local authority of a foreign state on the registration of a legal entity, certified by a notary. This document is not required from a foreign investor - an individual;
a copy of a power of attorney legalized or certified by apostille in the name of the person who has the right to open and manage the account, certified by a notary. If a foreign investor issues such a power of attorney on the territory of Ukraine, a copy of this power of attorney certified by a notary is submitted. If an account is opened personally by a foreign investor - an individual, then this document is not required;
a card with samples of signatures of a non-resident investor, certified by a notary. "
Among other things, funds transferred from abroad for making investments in Ukraine are credited to an investment account in foreign currency.

From an investment account denominated in foreign currency by entrusted

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