"E-RESIDENCY" PROJECT IS BEING IMPLEMENTED IN UKRAINE

The website of the Cabinet of Ministers of Ukraine has official information about the support of the e-residency program in Ukraine. The prospect of implementing e-residency appeared in the autumn of last year, when the Ministry of Finance actively presented such an initiative to the Ukrainian government.
If we talk about definitions, an e-resident is a special status of a foreign citizen in Ukraine, which gives them access to information and consulting services, simplifies the procedures for obtaining administrative services and concluding civil transactions, and also provides them with the opportunity to establish and do business in Ukraine remotely.
Thanks to the Ukrainian e-residency, foreigners will get the following services online:
- qualified electronic signature;
- registration number of the tax payer's account card;
- possibility to open an online account with a Ukrainian Bank;
- simplified access to administrative services in Ukraine.
In addition, foreigners who have received e-residency in Ukraine are promised:
- attractive taxes and avoidance of double taxation;
- lack of complex bureaucratic procedures;
- a simple and convenient platform for doing business with access to all necessary services and the ability to make transactions online using a secure electronic signature key certified in Ukraine;
- personal consulting support;
- English-language support service;
Since e-residency will be attractive, first of all, for representatives of the IT sphere, the target audience for obtaining Ukrainian e-residency may be India, Bangladesh, Pakistan, China and the Philippines.
In turn, according to the resolution of the Cabinet of Ministers of Ukraine, the Ministry of digital transformation must submit proposals to the Cabinet of Ministers of Ukraine within two months regarding the adoption of acts necessary for the implementation of the experiment and ensure the adoption of legal acts arising from this resolution. Within three months - to determine the list of States for the implementation of the experiment and ensure the creation and operation of the "E-resident" system, which will become part of "Diya" portal.
Also, for the implementation of the project, the Ministry of internal affairs, Ministry of foreign affairs, Ministry of justice, Ministry of finance, State tax service, State service of financial monitoring within one month should ensure the development and adoption of statutes and regulations, creation of organizational, technical and personnel conditions necessary for the execution of the proposed program.
It is reported that the experiment on the implementation of the "e-residency" project will start on July 1, and the full launch of the e-residency portal services should take place only at the end of 2020.