Citizens from over 100 countries have opened businesses in Ukraine during full-scale war

Citizens from more than 100 countries have founded more than 3,000 companies in Ukraine during the full-scale war, and Kyiv has become the most attractive business region for foreigners.

Source: Opendatabot, an open data platform 

Details: It is noted that the most frequent business start-ups are by Turkish citizens: 396 companies (12.9% of the total) and by Uzbek citizens: 312 businesses (10.1% of the total). Polish citizens complete the top three with 224 businesses (7.3%). In total, foreigners from 101 countries have established 3,075 companies in Ukraine since the beginning of the full-scale war.

The top 10 also includes citizens of the United States, Kazakhstan, Germany, Azerbaijan, Israel, the United Kingdom and China.

In addition, almost half of the companies with foreign owners were registered in Kyiv (1,517). Uzbek nationals are the most frequent business owners in the capital with 175 companies.

Lviv Oblast is next with 460 businesses: foreigners from Poland most often settle here (105 companies). Odesa Oblast is also in the top three, with 273 companies. Turkish citizens are the most likely to set up companies in this oblast, with 99 businesses.

The largest number of companies with foreign owners are engaged in wholesale trade (30.7%), property transactions (6.7%) and computer programming (5.8%).

The company TENS1MA, with a registered capital of 1.28 billion hryvnias (about US$30.9 million), has become the largest business opened by foreigners since 24 February 2022. The business is owned by an Armenian citizen.

The second position is held by Jugen, a closed, non-diversified venture corporate investment fund, with a registered capital of 700 million hryvnias (US$16.9 million). The ultimate owner is a US citizen.

LFS LLC, founded by a Polish citizen, rounds out the top three. The company has 300 million hryvnias (US$7.2 million) in authorised capital.

Background: In Ukraine, more than 140,000 companies are registered at mass registration addresses. That is, at addresses where more than 50 businesses are registered.

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