Henceforth, in Ukraine there will be no need to register investments. And getting a work permit, as well as a residence permit for high-paying foreign employees and investors will be easier.
The Verkhovna Rada second reading supported bill No. 4541, which abolishes the registration of foreign investment in Ukraine, and simplifies the procedure for employment of foreigners.
Presenting the draft law to the parliament, People’s Deputy Sergei Kiral noted that he gives the procedures for issuing work permits for foreigners and documents for temporary residence in Ukraine in accordance with the current legislation, as well as with international requirements.
Sergei Kiral also stressed that the document concerns only four categories of highly paid IT professionals, as well as representatives of creative professions.
Today, according to the people’s deputy, the procedure for employment for foreign employees who receive a minimum salary, and for highly paid professionals is the same. “We are installing fuses, employees for whom indulgence acts should receive at least 5 minimum salaries for charitable organizations and 10 minimum wages for all other employees,” Kiral says.
The document will regulate, at the law level, the basic aspects of issuing a work permit for foreigners and a residence permit.
“This will simplify the attraction of foreign managers and foreign skilled workers, which are necessary at the first stages of development of a subsidiary in Ukraine,” the explanatory note stresses.
The law will also grant foreign investors who have a significant stake in Ukrainian enterprises the right to obtain a residence permit in Ukraine. “This will allow them to spend in Ukraine enough time in Ukraine to monitor the activities of enterprises,” – is in the explanatory note.
The adopted law also abolishes registration of foreign investments, replacing it with formal information for conducting state statistics.