Ukraine is the largest country in Europe occupying a strategic position between the European union and Commonwealth of Independent States. Ukraine has 5% of all the world’s natural resources, 25% of the world black soil, and is also rich in human resources and thus it has the potential to be one of the richest countries in Europe. Also, Ukraine is the third largest grain producer in the world.

The Ukrainian Law allows foreigners to open their own business in the country. Over the recent years many foreigners have opened their business in Ukraine and the number keeps growing , the Ukrainian government has made the procedures simple and it takes a few days to complete. It has been profitable for foriegn investors. The construction and banking have attracted the foriegn investors the most. In the manufacturing sector investors are mostly attracted by the food processing and metallurgy.

The World Bank gives the key indicators for economic and business conditions of Ukraine, including information on typical business procedures, time to complete and associated costs for each step. According to the World Bank, in the ease of doing business, Ukraine ranks 137 among 185 economies globally. While it was 15 places below according to last year's record, it has shown improvement. But, on resolving insolvency and registering property Ukraine has the worst rankings in Central Asia and Eastern Europe. Investing in Ukraine does carry opportunities for businesses as it is an emerging market, however, starting a business in this country can not be made easy without having local help.

To start a company in Ukraine a foreign investor should register a limited liability company. Registration of an LLC is a difficult process for foreign investors and any small error can lead to a significant fine. Starting a company in Ukraine requires that the foreign investor should get a tax number, prepare the required documents, register a limited liability company, prepare a seal for the company, and choose a tax system.

First the foreigner who wants to start a company must choose the name of his company. Second, he needs a Ukrainian or someone who is living in Ukraine as the director of his company and decides what activities he wants to perform in the country through his business. One thing that should be kept in mind is that you always have to pay the taxes, whether you have just started the company and the company is making no profit, or has not started doing any economic activity at all. Once you have registered a company you have to have the taxes paid. These no profit taxes include the ESN and personal income tax on your employees. The time that this registration process of an LLC takes is upto 5 (working) days. This process also includes the registration of TIN and preparation of the constituent documents.

If the foreigner wants to build a factory in Ukraine he will need construction permissions and licenses for activity from the country. Getting these approvals and meeting the regulations can take upto a year.