Foreign Entrepreneurs in Ukraine: A Snapshot
As of mid-May 2026, almost 22,000 foreign nationals have registered as individual entrepreneurs (FOPs) in Ukraine. Since the start of the full-scale invasion, an average of 1,896 FOPs have been opened each year by citizens from other countries. The most active groups include entrepreneurs from Russia, Vietnam, and Azerbaijan.
Kyiv leads the country with 5,216 foreign-owned FOPs, followed by the Kharkiv region with 3,506 and the Odesa region with 3,295. Together, these three areas account for nearly 55% of all foreign entrepreneurs who have started businesses in Ukraine.
Among foreign business owners, Russian nationals form the largest group with 4,593 registrations. They are followed by citizens of Vietnam (1,994 FOPs) and Azerbaijan (1,635 FOPs). Entrepreneurs from Uzbekistan (1,469 FOPs) and Moldova (1,118 FOPs) also have a notable presence. Almost half of all foreigners who have launched businesses in Ukraine come from these five countries.
Business Activities of Foreign FOPs
By industry, foreign entrepreneurs are most frequently involved in:
- Retail trade – 6,346 FOPs
- Warehousing and storage – 2,746 FOPs
- Wholesale trade – 1,732 FOPs
- HoReCa sector (hotels, restaurants, cafes) – 1,703 FOPs
- IT sector – 1,624 FOPs
Among foreigners who received work permits in Ukraine, the largest numbers come from Turkey, India, and Uzbekistan. The top ten countries whose citizens obtained work permits in Ukraine in 2025 also include Azerbaijan, Bangladesh, China, Pakistan, Colombia, the United Kingdom, and the United States.
Additionally, as of mid-April 2026, 4,389 entrepreneurs in Ukraine are using Russian email services, representing about 0.5% of all active FOPs who provided an email address. Of these, 2,628 entrepreneurs use mail.ru, 472 use rambler.ru, and 424 use email addresses with the yandex.ru domain.
“The International Monetary Fund may postpone its demand for Ukraine to introduce value-added tax on individual entrepreneurs with high turnover. However, sooner or later, it will still have to be implemented.” — Serhiy Marchenko
The rising number of foreign FOPs in Ukraine suggests that the country’s market is becoming increasingly attractive for business, despite the challenging economic conditions caused by the war. This trend also points to a steady inflow of foreign investment and a willingness among entrepreneurs from other nations to adapt to local circumstances. At the same time, the use of Russian email services by some FOPs may raise concerns among authorities and the public, given the context of ongoing hostilities. The situation warrants continued monitoring and state-level regulation.
As the number of foreign entrepreneurs in Ukraine grows, it is interesting to note that nearly 4,500 Ukrainian individual entrepreneurs continue to utilize Russian email services. This reliance on such platforms raises questions about the broader implications for local businesses and their operational choices. To explore this trend further, read about the ongoing use of Russian email systems by Ukrainian FOPs here.