The guide is created by UkraineInvest and will help you find out what kind of state support you can get if you decide to invest in Ukraine.
The Ukrainian government passed a law in February supporting new investors. It is often referred to as the “law on investment Nannies” as large investors are entitled to extensive governmental support in navigating in Ukraine. Everyone investing more than 20 million euros and creating more than 150 workplaces is entitled to a “nanny” and tax benefits.
However, the law is very comprehensive. Therefore, UkraineInvest, the Ukrainian government’s investment promotion agency, recently published a guide aiming to simplify things. UkraineInvest will also support your business in the application process to revise state support and help with communication with authorities.
“Explanatory Guide on the Law is prepared to familiarize the potential investors with the specifics of the Law. The Guide provides information on available forms of state support, requirements to applicants and investment project with significant investments, details of the application process,” writes UkraineInvest, where you can find the guide.
Supposed to make Ukraine competitive
The idea of the investment “nanny” was already presented back in 2019 when Volodymyr Zelensky won the Presidential election. Zelensky has said that it is an initiative to help foreign companies avoid some of Ukraine’s problems.
“We have now drafted a new program called Investment nanny. What is it about? We will provide each investor, each large company… with a separate contract with the state. It is the state that will protect you. You will have a manager – investment nanny, who speaks five languages and works with you 24/7 – any question, any problem will be solved in contact with this manager, and there will be no problem,” the President said in 2020.
“The assistance of such ‘investment nanny’ could take the form of cooperating with relevant state or local authorities on behalf of the investor, assisting with the preparation or completion of all necessary documentation for approval of the Project, information support, etc.,” writes US-Ukraine Business Council.
You can read more about the investment nanny here.