On 23 May 2017 the Parliament of Ukraine adopted Law No. 2058-VIII “On Amendments to Certain Legal Acts Regarding Elimination of Barriers for Attraction of Foreign Investments” (“Law”), which will become effective on 27 September 2017. The Law simplifies procedural requirements for employment of foreigners and introduces the following changes:

1. List of documents required for foreigner’s employment permit

The Law reduces by half the list of necessary documents for obtaining a permit. Additionally, the Law cancels the requirement to confirm lack of skilled employees in Ukraine (in region) to obtain a permit.

2. Maximum permit validity term extended

The maximum permit validity term for the following specific categories of employees is extended from one to three years:

• highly paid (with monthly salary not less than UAH160,000, approximately EUR5,390) professionals
• founders, participants or beneficiaries of the Ukrainian legal entities
• graduates of top 100 world universities
• employees in the art industry
• IT professionals

3. Minimum salary requirement

The Law provides for a minimum salary of foreign employees in non-governmental organisations, charity organisations and educational institutions in the amount of UAH16,000 (approximately EUR540) and for other foreign employees (except for the aforementioned specific categories – in the amount of UAH32,000 (approximately EUR1,080).

4. Possibility to obtain temporary residency permit

Foreigners, whose share in the charter capital of Ukrainian legal entities (founders, shareholders or beneficiaries) is not less than EUR100,000, may obtain a temporary residency permit.

The Law is likely to promote the improvement of investment climate in Ukraine and attract highly skilled foreign professionals.

Additional notes

For further information on the topic please contact Mykola Stetsenko, Managing Partner, Glib Bondar, Senior Partner, Dmytro Marchukov, Partner, or by telephone +380 44 591-3355 or via e-mail.