Success tips when doing business in Ukraine in 2024

  1. Doing business in Ukraine is different from doing business in other countries. Foreigners in Ukraine find that being late is the norm for Ukrainians. In Ukraine, meetings are frequently rescheduled and cancelled, often at the last minute. Therefore, it is always a good idea to confirm meetings;
  2. Government agencies play an important role in doing business in Ukraine. All businesses deal with government agencies on a regular basis, from the process of incorporating with the Ukraine company register onwards. Foreigners setting up a business in Ukraine should exercise restraint and be patient as much as possible as authorities will always have the final say in any matter;
  3. Ukrainians prefer arranging meetings in person to discuss business and make joint decisions. Ukrainians believe that only in person can one adequately judge others’ intentions and trustworthiness and resolve concerns. Ukrainians pay more attention to emotional aspects of communication rather than excluding them from business;
  4. When you are staring a new business in Ukraine it is important to find out which registration process and licenses apply to your firm. Ukraine company registration can be a complex area, as different branches of the government will handle registration and licensing for various aspects of your business.

Interesting facts about Ukraine?

  1. With an area of 603,628 square kilometers, Ukraine is the second largest contiguous country on the European continent;
  2. Ukraine claims to be home to the geographical center of Europe, which is near the western town of Rakhiv. Other places in Europe claim to be the center, the definition depends on the methodology used;
  3. Parts of Ukraine belonged to different empires for centuries: the Ottoman empire, Poland-Lithuania, Austrian-Hungarian and Russian empire. Ukraine as it is now was formed only in 1954 when the Crimean peninsula became part of the Ukrainian Soviet Socialist Republic;
  4. While the population of Ukraine is 45.6 million, at least 10 million Ukrainians live abroad. Most live in Russia (around four million), Kazakhstan, the U.S., Canada, Moldova, Poland, Argentina and Brazil;
  5. In 1710, Ukrainian Hetman Pylyp Orlyk introduced “Pacts and Constitutions of Rights and Freedoms of the Zaporizhian Host”, at that time a super-progressive document meant to separate powers into three branches and regulate the rights and responsibilities of the government and citizens. Some researchers believe this document is one of the world’s first constitutions;
  6. Ukrainians are the fifth most-drinking nation in the world. Only Moldavians, Russians, Hungarians and Czechs are ahead of them. An average Ukrainian older than 15 drinks 15.6 liters of alcohol a year (it’s a liter more than an Irishman and almost two liters more than a Norwegian).

External readings

Contact us

For additional information on our company registration services in Ukraine, please contact our in-house country expert, Mr. Petar Chakarov, directly:
client relationship officer - Petar
  • Mr. Petar Chakarov
  • Sales & Business Development Manager
  • Contact me!
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