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Ukraine

The ISO code of Ukraine is UA according to the ISO 3166 standard. The local name of the country is Ukrayina. Ukraine capital city is Kiev. People in Ukraine speak the Ukrainian language. In the year 860, Ukraine emerged as a sovereign political entity. The largest city in Ukraine is Kyiv.

Ukraine is located in the UTC +02:00 time zone, which is also called Eastern European Time or EET. The internet country code top-level domain (ccTLD) for Ukraine is .ua. Other domains assigned to Ukraine are .укр. The International dialing code for Ukraine is 380. People in Ukraine drive on the right side of the road. Total land area of Ukraine is 603,500 km² (approx. 233,012 mi²). Ukraine is not a landlocked country. It means that is is bordered by at least one major body of water.

A view in Ukraine

Ukraine is located in Europe. Ukraine is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.

Currently Ukraine faces various issues, including inadequate supplies of potable water, air and water pollution, deforestation, radiation contamination in the northeast from 1986 accident at Chornobyl' Nuclear Power Plant.

Doing business in Ukraine

We offer various corporate services in Ukraine jurisdiction. These services can serve both, people coming from Ukraine and foreigners. If you plan on doing business in Ukraine you might be interested in contacting us.

To find out about starting your business in Ukraine click on company formation in Ukraine.

To find out how to open a bank account in Ukraine and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Ukraine.

Choose preferred service below or continue reading to find out more about Ukraine.

Company formation Bank account (Corporate)Available banks Bank account (Private)

Demographics of Ukraine

The total population of Ukraine is 44,009,214 people. In Ukraine, the population density is 75 people per square kilometer (195 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is diverse according to a fractionalization scale which for Ukraine is 0.4737. Ukraine has approximately 4834898 foreign immigrants. The median age is approximately 40.6 years. In Ukraine, 33.7 in every 100 people use internet. Ukraine has a Human Development Index (HDI) of 0.734.

The majority religion of Ukraine is Christianity, Ukraine is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Ukraine.

Culture of Ukraine

People in Ukraine speak the Ukrainian language. According to data on inbound tourists in Ukraine, 24,671,000 tourists arrive in the country each year. The first McDonalds in Ukraine was opened on 24 May 1997, and it was located in Kiev. One of the most popular national dishes of Ukraine is borscht. To read more click on culture of Ukraine.

Geography of Ukraine

Ukraine is considered to be a large nation because of its total area. Its total land area is 603,500 km² (approx. 233,012 mi²). Ukraine is located in Europe. Its capital city is Kiev. Ukraine has 7 neighbouring countries. Its neighbours include Belarus, Hungary, Moldova, Poland, Romania, Russia, and Slovakia. Total length of land borders of Ukraine is 5618 kilometers (~2,169 miles).

The highest point of Ukraine is Hora Hoverla, with its official height being 2061 m (6,762 ft). Including land mass and EEZ, the total area of Ukraine is approximately 750,818 km² (~289,891 mi²). The most notable natural resources found in Ukraine are iron ore, coal, manganese, natural gas, oil, salt, sulfur, graphite, titanium, magnesium, kaolin, nickel, mercury, timber, arable land.To read more click on geography of Ukraine.

Economy of Ukraine

The currency of the country is Ukrainian hryvnia. The symbol used for this currency is ₴, and it is abbreviated as UAH. 9.5% of population in the country are unemployed. The total number of unemployed people in Ukraine is 4,180,875. Each year, Ukraine exports around $71.14 billion and imports roughly $87.21 billion. The Gini Index of the country is 28.2. Ukraine has a Human Development Index (HDI) of 0.734.The Global Peace Index (GPI) for Ukraine is 2.845. Ukraine has a government debt of 38.8% of the country's Gross Domestic Product (GDP), as assessed in 2012. Ukraine is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are coal, electric power, ferrous and nonferrous metals, machinery and transport equipment, chemicals, food processing.

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Ukraine is $371,812 billion. Each year, consumers spend around $76,842 million. The ratio of consumer spending to GDP in Ukraine is 0%, and the ratio of consumer spending to the world consumer market is 0.2215. The corporate tax in Ukraine is set at 18%. Personal income tax ranges from 15% to 20%, depending on your specific situation and income level. VAT in Ukraine is 20%. In 2013, Ukraine received 769.2 million USD in foreign aid.In 2014, the foreign aid amounted to 807.2 USD.To read more click on economy of Ukraine.

Infrastructure of Ukraine

Infrastructure quality in Ukraine is rated to be at 2.65. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.

In Ukraine, 100% of the population has access to electricity. There are 2,173,000 internet hosts in Ukraine. Ukraine has 187 airports nationwide.

The logistics performance index of Ukraine is 2.98. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.

Tracking possibilities for shipments are rated at 3.2. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.

The number of road motor vehicles per 1000 inhabitants in Ukraine is 8. To read more click on infrastructure of Ukraine.

Politics of Ukraine

Ukraine, is a unitary semi-presidential constitutional republic. With regard to political and civil freedoms, Ukraine is 2. Citizens in Ukraine experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Ukraine, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is Petro Poroshenko.

According to the World Bank Group, the government effectiveness index of Ukraine is -0.38. This indicates that the government of Ukraine is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Ukraine before considering any business maneuvers.In Ukraine, the legislative power is vested in a Supreme Council. The Global Peace Index (GPI) for Ukraine is 2.845. The strength of legal rights index for Ukraine is 8. Overall, it is considered to be rather adequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available. In 2013, Ukraine received 769.2 million USD in foreign aid. In 2014, the foreign aid amounted to 807.2 USD. Ukraine is a member of the United Nations (UN). On 24 October 1945, it joined the UN at it inception date as a full member state. Ukraine is one of the original UN member states who founded the organization. Ukraine is a member of the World Bank. To read more click on politics of Ukraine.

Environment of Ukraine

Ukraine emits 6.3 metric tons per capita of CO2. 105000 km² of Ukraine's territory is covered in forests. and forest land comprises 17% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Ukraine is 8. To read more click on environment of Ukraine.

Company formation in Ukraine

The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Ukraine.

When establishing a company in Ukraine, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Ukraine that will affect the establishment and growth of one's business. Contact us or click on company formation in Ukraine to read additional information when setting up a business.

Bank account opening in Ukraine

With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Ukraine. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.

When considering opening a bank account in Ukraine, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Ukraine or contact us.