Doing Business in Ukraine. Is it possible?

[Steveboy]

Making a business in Russia for foreigners has changed to much to even mention over the last few years, it's pretty easy for say Joe Bloggs to arrive in Russia with $100,000 and set up some kind of business (Obviously if your married to a Russian it's even easier)  You can be pretty sure as long as you use your head there is not much chance of losing your life savings..

The days when Igor comes knocking on your door for protection money or the local health inspector asks for money to keep your shop open, these days finished a long time ago.. Though Russia is not perfect I'm sure sometimes it still happens, but generally those days are long gone..If you work hard it's pretty easy to make money here and lots of it.

There are many Brits and Yanks with businesses in Russia and many other Nations, I have plenty of mates who have business here, are doing well, have property and drive big expensive cars.. Many Brits I know own their own property here and also have 1/2 rentals; it's not uncommon.. Of course I'm not saying Russia is full of these examples but it's pretty common especially amongst the long term expats.

So how about Ukraine? The question is does anyone here know of any foreigners making money in Ukraine? Does anyone here, especially the pro Ukrainian members, have any mates who up rooted for a life in Ukraine, and took their savings to set up a business..  Does anyone know such people, friends or mates? I mean how can it be possible to know much about the country if you don't even know a soul living there let alone running a business?

Here is the BIG question !! Would you invest your savings in setting up a business in Ukraine?? And if not WHY not??

Im no expert on the country though I have been there many many times and still have friends there..
But I think I could be very safe in saying Joe Bloggs from the US who decides to leave the US to set up a business in Ukraine will lose everything, this is very common in fact it pretty well happens all the time.

Here are just a few examples ..

https://www.atlanticcouncil.org/blogs/ukrainealert/what-business-is-really-like-in-ukraine/

The lists and examples go on and on of foreigners being fleeced .. just look at dating.. take a trip to Odessa looking for a wife.. like so many do.. Business is just the same..

[Steveboy]

Well it looks to me like no one here has any mates doing business in Ukraine.. I wonder why that could be then..

It also looks to me like no one here would ever dream of setting up business in Ukraine ... I wonder why that could be then?

It also looks to me like no one here would be ready to invest their savings in Ukraine then .. I wonder why that could be then?

[Lon]

Well it looks to me like no one here has any mates doing business in Ukraine.. I wonder why that could be then..

It also looks to me like no one here would ever dream of setting up business in Ukraine ... I wonder why that could be then?

It also looks to me like no one here would be ready to invest their savings in Ukraine then .. I wonder why that could be then?

well, you certainly did not give it much time for anyone to answer

short answer, no.  but perhaps not for the reason you think.
investing in Ukraine would be high risk, and I am not looking for that kind of risk at this time (not because of the war).  I do not know the market (but know how to find out).  I am not there (but could be if I wanted).
with that though, the same could be said of investing in Russia.

[Steveboy]

Well it looks to me like no one here has any mates doing business in Ukraine.. I wonder why that could be then..

It also looks to me like no one here would ever dream of setting up business in Ukraine ... I wonder why that could be then?

It also looks to me like no one here would be ready to invest their savings in Ukraine then .. I wonder why that could be then?

well, you certainly did not give it much time for anyone to answer

short answer, no.  but perhaps not for the reason you think.
investing in Ukraine would be high risk, and I am not looking for that kind of risk at this time (not because of the war).  I do not know the market (but know how to find out).  I am not there (but could be if I wanted).
with that though, the same could be said of investing in Russia.

Yeah Russia also not so easy BUT it has become much easier recently and your not going to loose your life savings here.. though Im sure a couple have done so. But generally speaking..

[dorbradavid]

... and your not going to loose your life savings here.. though Im sure a couple have done so. But generally speaking..

Ethics wise, not much difference between Russia and Ukraine. 

[Steveboy]

... and your not going to loose your life savings here.. though Im sure a couple have done so. But generally speaking..

Ethics wise, not much difference between Russia and Ukraine. 

No not really! BUT things have changed lots here .. as I said your not going to get Igor knocking on your door for protection money, you probably will not loose your life savings if you make a business, your not going to go on holiday only to come back and find out your business has been stolen and so on.. That is the difference between Ukraine and Russia.. In Ukraine you WILL get robbed you will loose your money..

Of course if you land up making billions maybe things will not be so easy.. someone could be knocking on your door in that case..or maybe your door handle will not be safe to touch 

I have a friend who set up a printing company here with Russian investors, they have 160 staff and most supermarket printing contracts , he recently sold his share after 20 years and retired from it.. I know a few others also with the same kind of set up..

[dorbradavid]

.... you probably will not loose your life savings if you make a business, your not going to go on holiday only to come back and find out your business has been stolen and so on..

Ok, that make me feel much better. Me being 66 and all .... 

[Steveboy]

.... you probably will not loose your life savings if you make a business, your not going to go on holiday only to come back and find out your business has been stolen and so on..

Ok, that make me feel much better. Me being 66 and all .... 

I have nothing against Ukrainian people just like every where in the world there are good and bad people and there are plenty of genuine Ukrainian women who are genuine for marriage I do not dispute that! BUT every thing is so much trouble there its just not worth doing anything..looking for a women.. making money , starting a business most of the time you will get robbed and that is a fact Im sure there are plenty on this forum who have been robbed in Ukraine or conned by Ukrainian women and will not let anyone know about it..

You just need to get in taxi and your going to probably get conned .. who needs it.. that is what I say..

Just like all the Western aid money its all going to get Stolen not much left for the genuine hard working person there for sure!

[AJ]

There are a lot of american businesses on ukraine over the last 30 years.
There are plenty of other western countries with businesses in ukraine.

There would not be of it was as horrible as you portrayed.

You enjoy Russia, i get it.
But yes  i do know an austrian with a small business in ukraine thd last 20 years.
He hasn't had the issues you feel are rampant.

Both contries had thier issues after the fall.

Both changed significantly over the first decade, and again in the follpwing decades.
They both instituted legal regs aimed at cleaning up business.

You seem to think only russia did.
Ill take your word that russia did do.

Ive known many ukrainians with thier own small firms, both men and women, not highly connected at all,yet succesful.in thier ventures.
No issues other than any small growing business faces.


You seem to think the mafia  is still coming around shaking down the babushka in the kiosk to pay her roof.
🤷‍♂️

[AJ]

https://chamber.ua/

Says over 50 billion invested,
but admittedly thats chump change to  us parties russian investments i'm sure.

[Markje]

https://chamber.ua/

Says over 50 billion invested,
but admittedly thats chump change to  us parties russian investments i'm sure.

Shell alone invested more than that in Russian oil fields. of course they withdrew when western remarks on that became too big.

[AvHdB]

https://chamber.ua/

Says over 50 billion invested,
but admittedly thats chump change to  us parties russian investments i'm sure.

Shell alone invested more than that in Russian oil fields. of course they withdrew when western remarks on that became too big.

This is a long drama.

https://www.hbs.edu/faculty/Pages/item.aspx?num=31007