Offshore companies — Ukraine. Legal framework
Ukrainian international business is based on a clear combination of corporate, tax and currency rules. For the owner of an offshore company, the business benefit is the possibility to prepare the agreement, taxation and bank documents in advance for a specific operation. Consistent preparation of documents helps to make payments faster and use a foreign company as a working business instrument.
- The current legal framework makes it possible to prepare the agreement, taxation and international payment in advance.
- For each operation, a clear transaction scheme can be defined taking into account the type of income and currency.
- We arrange the corporate and payment part of the work of a foreign company with Ukrainian business.
Main Ukrainian laws for international business
For a Ukrainian owner of a foreign company, several parallel areas of law are important for business: taxation, foreign trade agreements, currency operations, financial monitoring, controlled foreign companies and rules for operations with non-residents.
| Law / regulation | What it regulates for the business owner |
|---|---|
| Tax Code of Ukraine No. 2755-VI | Corporate income tax and income paid to non-residents, international double tax treaties, transfer pricing, controlled foreign companies and permanent establishments. |
| Law “On Foreign Economic Activity” No. 959-XII | General rules for foreign trade agreements and operations of Ukrainian businesses with foreign counterparties. |
| Law “On Currency and Currency Operations” No. 2473-VIII | Basic rules for currency operations, currency regulation and currency supervision. |
| NBU Resolution No. 18 dated 24 February 2022 | Rules for cross-border payments and the purchase and transfer of foreign currency during martial law. The NBU regularly adjusts the list of permitted operations. |
| Law No. 361-IX on financial monitoring | Identification of the client and beneficial owner, risk-based review of operations, financial monitoring and duties of primary financial monitoring entities. |
| Cabinet of Ministers Order No. 143-r | The current list of states and territories classified by the Cabinet of Ministers of Ukraine as offshore zones. |
| Cabinet of Ministers Resolution No. 1045 | A separate list of states and territories for transfer pricing purposes. Its purpose differs from the offshore zones list No. 143-r. |
| NBU Regulation No. 8 | Procedure for banks to analyse documents and information relating to a client’s currency operations, including the economic purpose of the operation and supporting documents. |
Taxation of payments to non-residents
When paying income to a non-resident, a Ukrainian company determines the type of income, withholding tax rate and possibility of applying an international treaty. The mechanism for applying an international treaty is set out in Article 103 of the Tax Code of Ukraine. For work with a client, it is important to obtain documents confirming the tax residence of the income recipient in advance and check the conditions of the specific treaty.
Controlled foreign companies
Article 392 of the Tax Code regulates controlled foreign companies. For the owner of an offshore company, this means a separate review of the ownership share or actual control, the foreign company’s financial statements and notification and reporting duties.
Offshore zones and transfer pricing
The Cabinet of Ministers offshore zones list and the lists used for transfer pricing serve different purposes. When preparing a transaction with a foreign company, the specific basis should be checked: withholding tax, controlled transaction, business purpose, bank requirements or currency supervision. This makes it possible to choose a legal transaction scheme and prepare payment documents in advance.
We will prepare the taxation, agreement and bank documents so that the international payment is arranged as one commercial operation.
Order the transactionWhat changed in 2026
In 2026, international operations of Ukrainian business are based on the current system of tax, currency and foreign trade rules. The National Bank continues gradually to expand the possibilities for certain cross-border payments, creating additional options for international payments.
For the owner of an offshore company, the specific plan is to prepare the agreement, taxation and bank documents for the particular operation. Current rules are used as an instrument for choosing an effective transaction scheme.
Tax Code of Ukraine · Law No. 2473-VIII · Law No. 361-IX · Order No. 143-r
We wish you success in international business. If you need to check the transaction structure, application of an international treaty, CFC rules or prepare documents for a payment to a non-resident, we support the transaction and document preparation.
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