Foreigners are allowed to open accounts in banks of Ukraine

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The Cabinet authorized the electronic residency

The Cabinet of Ministers approved the resolution “On implementation of pilot project on introduction and implementation in Ukraine of electronic residence.” The resolution was adopted subject to revision, reports the with reference to RBC.

The decision was taken during a government meeting on 25 June.

As noted in the explanatory Memorandum to the decree, the purpose of the act is the introduction of the mechanism of obtaining the interested foreigners and persons without citizenship status of e-resident. This will happen without the need of leaving your country and coming to Ukraine. Foreigners will be able to online administrative services and perform other operations both in Ukraine and abroad.

“E-resident acquires the opportunity to open a Bank account, etc., to online administrative services, to enter into electronic contracts, etc.”, — stated in the explanatory note.

The government noted that it will positively affect the investment climate in Ukraine, the intensification and further development of the national economy, increase GDP, increase government revenue, etc.

Recall that in may 2020 hackers attacked the database of banks, government agencies and drivers transportation service, resulting in leakage of personal data of Ukrainians.