Volodymyr Gurlov
Managing partner

Don't know how to get the license? I can help you with it!

Legal consultation
HomePublicationsComments on legislationA Comprehensive Guide to Opening a Bank Account in Ukraine for Foreigners

A Comprehensive Guide to Opening a Bank Account in Ukraine for Foreigners

Views: 611

Ukraine, a beautiful country located in Eastern Europe, offers a wide range of opportunities for foreigners, be it for business ventures or personal endeavors. Opening a bank account in Ukraine as a foreign citizen or company is a crucial step in ensuring smooth financial transactions and access to banking services. In this article, we will provide a detailed guide on how to open a bank account in Ukraine, including selecting the right bank, utilizing internet banking services, and the required documentation for both foreign citizens and foreign companies.

Choosing the Right Bank

When opening a bank account in Ukraine, it's essential to select a reliable and reputable bank that meets your specific needs. Consider the following factors while choosing a bank:

  • Reputation and Stability: Opt for well-established banks with a proven track record of stability and reliability in Ukraine's banking sector.
  • Services Offered: Evaluate the range of services offered by the bank, such as online banking, international transfers, multicurrency accounts, and customer support in English or your preferred language.
  • Fees and Charges: Compare the fees and charges associated with various banks, including account maintenance fees, transaction fees, and ATM fees.
  • Accessibility: Check the availability of branches and ATMs in your desired location, especially if you plan to reside or conduct business in a specific region.

Our team usually first of all finds out for what purposes an account is opened in Ukraine. This helps us determine not only the type of account we need, but also which particular bank to recommend to our clients. We have contacts with a large number of trusted banks in Ukraine.

Internet Banking in Ukraine

Internet banking has become increasingly popular in Ukraine, providing convenient and efficient access to banking services. Here's what you should know about internet banking:

  • Account Management: Internet banking allows you to manage your bank account online, check balances, view transaction history, and transfer funds between accounts.
  • Bill Payments: Settle utility bills, make loan payments, and pay for various services conveniently using internet banking.
  • Mobile Applications: Many Ukrainian banks offer user-friendly mobile applications, enabling you to access banking services on the go.
  • Security Measures: Ensure the bank you choose employs robust security measures, such as two-factor authentication and encryption, to protect your online transactions and personal information.

Important! Internet banking is available in Ukraine not only for accounts of individuals, but also for companies.

Related article: I sold an apartment in Ukraine: how can I withdraw money to my foreign account?

Required Documents for Foreign Citizens

To open a bank account in Ukraine as a foreign citizen, you typically need to provide the following documents:

  • Passport: A valid passport with a Ukrainian entry stamp or a long-term visa.
  • Proof of Address: A document confirming your residential address, such as a utility bill or rental agreement.
  • Tax Identification Number (TIN): Foreign citizens are required to obtain a Ukrainian TIN, which can be obtained at the local tax office.
  • Residence Permit (if applicable): Non-residents may need to present a valid residence permit.

This is just a basic list of documents. It can be supplemented depending on the bank and the type of account that you need. Our team prepares all documents in advance, helps in obtaining a TIN, deals with translations.

We also organize a visit to the bank at a convenient time for the client.

Required Documents for Foreign Companies

If you are a foreign company seeking to open a bank account in Ukraine, you will need the following documents:

  • Certificate of Incorporation: A document certifying the establishment and legal existence of the company in its home country.
  • Power of Attorney: A notarized power of attorney authorizing the company's representative to open and operate the bank account.
  • Articles of Association or Bylaws: These documents outline the company's purpose, structure, and management.
  • Identification Documents: The passports or other identification documents of the company's authorized representatives.

Opening a bank account in Ukraine as a foreign citizen or company can be a straightforward process if you follow the necessary steps and provide the required documents. Remember to choose a reputable bank, consider internet banking options, and ensure you have all the necessary paperwork. By doing so, you can enjoy the benefits of seamless financial operations and access to a wide range of banking services in Ukraine.

Our team accompanies the entire process of opening a bank account in Ukraine for foreigners. We also help with the legal execution of achieving the purpose for which you open an account.

Contact our experts for help and advice!


Views: 611

ASK LAWYER A QUESTION