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HomePublicationsRepresentative experienceCost and timing of opening an account in a Ukrainian bank in 2022

Cost and timing of opening an account in a Ukrainian bank in 2022

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Are you planning to start a business in Ukraine, buy real estate or just want to be able to receive money transfers in Ukraine - you may need to open an account with a Ukrainian bank.

On the one hand, the procedure of opening a bank account in Ukraine is not as scary as, say, in the European Union. Yes, you still need to do some verification and compliance, and in the case of large sums of money you will have to think beforehand how to do it correctly and not to break the rules in order not to stimulate financial monitoring for checking your accounts. But the level of checks is much easier than in Europe, the procedure itself is faster.

And you choose the bank, not the bank you. The high level of competition in Ukraine has made it possible to have a developed banking system with maximum comfort for foreign clients.

Today we will pay attention to such organizational aspects as obtaining TIN and opening an account in a Ukrainian bank: what is the algorithm to follow and what are the deadlines to count on.

Related article: I want to buy a property in Ukraine and rent it out: Where to start?

What does the process look like and how long will it take to open a bank account in Ukraine?


To open an account at a bank, you first need to choose the bank and the type of account you will be opening. Your choice depends directly on the purpose for which you plan to open the account. For example if you are planning to buy real estate in Ukraine you will first need to obtain a TIN and then open an investment account with the bank to transfer funds as payment for the property.

A personal account may also require TIN, but not in every case - it depends on the requirements of the bank. An account for a LLC established in Ukraine can be opened by the director in his presence.

As for the timing of opening a bank account, if you prepare everything in advance, such as getting a TIN (this can be done remotely by a lawyer) and prepare translations of passports, certified by a notary, the procedure itself will take only a couple of hours. In our practice we have had cases where the client flew to Ukraine for exactly 1 day. 

You can open an account in Ukraine both in Ukrainian and foreign currency (the most common are USD and EUR).

Important: Regardless of the type of account or bank, you will need to open an account in person. Please plan for a time and a visit to Ukraine.

Documents required by most banks to open an account in Ukraine:

  • passport;

  • document with information on foreigner's place of residence/residence in Ukraine;

Note: if you know which managers to approach - you do not need to provide such a document; bank employee can write down the data from your words, we can help you with that too.

  • Document, which is the confirmation of solvency of the foreigner;

  • TIN.

The cost of opening an account in Ukraine at the bank itself will vary depending on the bank you choose and the account you need. Some banks ask for an annual account maintenance fee, and the cost of the card ranges from 5 to 100 USD on average.

As for lawyer's services for opening a bank account, an account for a foreign person with a TIN: from 200 + 200 USD for a TIN.

The cost of opening an account for a company in Ukraine - from 400 dollars.

If you want to open an account in Ukraine quickly and safely, as well as to receive additional advice from a specialized lawyer on the further process of the plant of funds in Ukraine - please contact us.


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