Is it profitable to move to Ukraine on an “IT Specialist” visa?

Ukraine has recently implemented new regulations to attract and retain highly skilled IT specialists from around the world. These regulations provide a streamlined process for obtaining a permanent residence permit for IT professionals, allowing them to live and work in Ukraine on a long-term basis.

To qualify for a permanent residence permit as an IT specialist, an individual must meet certain criteria. First, they must have at least 3 years of experience in the IT field, as well as relevant education and qualifications. Additionally, they must have a valid job offer from a Ukrainian company, with a salary that meets or exceeds the national average for the IT sector.

Once an individual has met these requirements, they can begin the process of applying for a permanent residence permit. This process typically involves submitting a set of required documents, including proof of education and qualifications, a valid passport, and a medical certificate. The application must also be accompanied by a fee, which varies depending on the individual's circumstances.

Once the application is submitted, the Ukrainian government will review the application and make a decision within 90 days. If the application is approved, the individual will be issued a permanent residence permit, which will allow them to live and work in Ukraine indefinitely.

One of the benefits of obtaining a permanent residence permit as an IT specialist in Ukraine is that it allows individuals to live and work in the country without the need for a work permit. Additionally, permanent residents are also entitled to certain benefits and privileges, such as access to healthcare and social security.

Obtaining a permanent residence permit is a multi-step procedure. You can stay in Ukraine for the whole period of waiting for the answer from the migration authorities, but the average period of issuing a residence permit is 1 year. 

In fact, the decision on the option of legalization of stay in Ukraine always depends on your interests and goals. There are other variants of legalization of stay, for example, temporary residence permit through opening your own company, etc.

Our lawyers will find for you exactly the option that suits you best.

Related article: I'm married to a Ukrainian for more than 2 years: residence permit?

What will moving to Ukraine give in terms of tax optimization?

In addition to the process for obtaining a permanent residence permit, it is also important for IT professionals to understand the tax implications of working in Ukraine.

In general, individuals who are considered tax residents of Ukraine are subject to tax on their worldwide income. However, there are certain tax incentives and exemptions available for IT activities in Ukraine.

One such incentive is the "IT Park" initiative, which provides tax exemptions for companies operating in the IT sector. These exemptions include a reduced rate of corporate income tax (18% instead of the standard rate of 24%), as well as exemptions from value-added tax and other taxes. To qualify for these exemptions, companies must meet certain criteria, such as having at least 50% of their employees engaged in IT activities, and investing a certain amount in research and development.

Additionally, individual IT professionals may be eligible for a reduced personal income tax rate of 5% on their income from IT activities. To qualify, they must meet certain criteria, such as having at least 3 years of experience in the IT field, and earning a salary that meets or exceeds the national average for the IT sector.

It's important to note that the Ukrainian tax law is quite complex and is subject to change. It's always advisable to consult with a local tax advisor to determine the specific tax obligations and benefits that may apply to an individual or a company.

If you have any questions about living in Ukraine, please contact our experts. We will not only find the best option for you, but also help to implement it.