PrivatBank changed the conditions for foreign business through the uResidency program.

PrivatBank became the first bank-partner of the e-residency program uResidency

PrivatBank became the first bank-partner of the state e-residency program uResidency, which allows foreigners to conduct business in Ukraine online.

This was reported by the bank's press service, writes "Hvylya".

The program allows entrepreneurs from abroad to register as individual entrepreneurs, open an account with PrivatBank, and manage the business through "Privat24 for business" without the need for physical presence in Ukraine.

Participants of the program will pay only 5% tax on profit. The feature is the absence of the need to maintain accounting — PrivatBank will act as a tax agent, automatically filling in the necessary documents.

Yevhen Zagraiev, a member of the board of PrivatBank, emphasized that the project is of great importance for attracting foreign investments and expanding digital banking services at the international level.

The uResidency program is aimed at small businesses from Asia and Europe, especially IT specialists and the creative economy. It is available for citizens of India, Pakistan, Thailand, and Slovenia with plans for further expansion.

Earlier, PrivatBank also announced a virtual cashback card in Privat24.