Similar to investment based permanent residence schemes in many other countries such as USA, Canada, Singapore, Ukraine also offers a permanent residence to foreigners who are willing to make an investment of at least USD 100,000 subject to the following conditions:
- investment is made in a foreign convertible currency;
- the amount of investment is not less than 100,000 US Dollars;
- payment for the investment was made in accordance with Ukrainian investment and banking law;
- the funds are to be to be invested into Ukrainian economy.
Regarding “invetment into Ukrainian economy”, not all types of investments in Ukraine are eligible for this scheme. Simply buying a property in Ukraine by a foreign individual for the required amount (USD 100,000) does not allow a foreign national to get an immigration permit (and, as result, permanent residency permit in Ukraine).
In practice, such condition means injection of funds to the share capital of a company, registered in Ukraine or joint investment activity on the territory of Ukraine. After the company with foreign capital is duly registered in Ukraine, it can perform any type of business activity, not prohibited by Ukrainian law and indicated in the statutory documents of the company (including investment activity, trade, services, export/import business activity, etc). The share capital of the company can be used for buying property (including buying real estate, other assets or commodity) as well as for current operations of the company.
After investment was made, the foreign national can apply for an immigration permit and after that – for a permanent residence permit in Ukraine.
Step 1 – Application for Immigration Permit
The application is made to the Migration Service of Ukraine (if the foreigner is in Ukraine) or Ukrainian Consulate of Ukraine in the country of residence of a foreigner (if the foreigner is overseas at the time of application). The timeline for obtaining an immigration permit is up to 1 year as defined by law (although, usually, our company receives documents for our clients within 6 months).
Step 2 – Application for Visa “D”
If the foreign national is overseas, after obtaining an immigration permit, the foreign individual has to obtain a visa type “D” in the Ukrainian consulate overseas and after that, arrive in Ukraine. Within 5 working days upon arrival to Ukraine, the person has to apply for a permanent residence permit.
If the foreign national is in the territory of Ukraine, visa “D” is not required and this step can be skipped therefore.
Step 3 – Application for a Permanent Residence Permit
The Permanent Residence permit will be issued within one week upon application to the State Migration Service of Ukraine.
As the overall procedure of obtaining a permanent residency in Ukraine takes times, if you wish to relocate to Ukraine earlier, you can get a temporary residence permit in Ukraine (issued for 1 year and renewable). For that, the Ukrainian company founded by you, can employ you as a director and get a work permit for you which is a legal ground to obtain the temporary residence permit.
Summing up, foreign nationals are allowed to get a Ukrainian permanent residency through an investment in the economy of Ukraine for not less than USD 100,000 or its equivalent. In order to complete all the steps properly and get Ukrainian permanent residency, it is highly advisable to hire a local professional consultant to advise and assist you with the application process.