The Cabinet of Ministers of Ukraine Changed the Rules of Issuing Long-term Visas for Foreigners

In order to enable foreign investors to obtain a long-term visa, the Cabinet of Ministers of Ukraine issued Resolution “On Amending the Rules of Issuing Entry Visas and Transit Visas to Ukraine” No. 171 as of March 14^th, 2018.

The Resolution entered into force on March 20^th, 2018 and expanded the list of grounds for long-term visas. In particular long-term visas can be obtained by foreigners or stateless persons who are founders and/or members, and/or beneficiary owners (controllers) of a legal entity registered in Ukraine. Share of such a foreigner or stateless person, or foreign legal entity, the beneficiary (controller) of which he is, in the authorized capital of the Ukrainian legal entity should be not less than EUR 100 thousand based on official exchange rate established by the National Bank of Ukraine on the date of foreign investment.

To prove this ground, the person must submit the following documents, depending on the form of foreign investment:

• copy constituent document of the legal entity;
• information that the share of the foreigner or stateless person who is a founder (member) of the legal entity in the authorized capital is not less than EUR 100 thousand, if the investment was made in pecuniary form;
• copy customs return on movable property transferred as a contribution to the authorized capital of the legal entity and copy certificate of transfer and acceptance of such property, if the foreign investment was made in-kind;
• copy certificate of transfer and acceptance of movable or immovable property transferred as a contribution to the authorized capital if the foreign investment was made in-kind, if the property was purchased in Ukraine;
• bank statement of securities account if the foreigner or stateless person is a shareholder of a joint-stock company registered in Ukraine.

The mentioned documents must be certified by authorized officials of the legal entity.

Contact the author, Zoia Zamikhovska, associate at Legal Alliance Company, at zamikhovska@l-a.com.ua