Head of practice
Head of Corporate Law and Fintech Practice. Expert in the creation and reorganization of companies, support of M&A transactions, as well as legal support for opening and running a business in the EU, Asia, and North America.
Opening a bank account in Ukraine for a foreigner
Opening a bank account in Ukraine for a foreigner is a necessary step for doing business, investing, buying real estate, receiving income, or employment. Despite the fact that Ukrainian legislation allows non-residents to open accounts in Ukrainian banks, in practice, the procedure is often accompanied by additional checks, document requirements, and questions from compliance departments.
This is especially relevant for foreign investors, owners of Ukrainian companies, directors of enterprises with foreign capital, and persons planning to carry out significant financial transactions in Ukraine.
That is why, before opening an account, it is important to understand the requirements of banks and prepare a package of documents that will allow you to successfully pass KYC and AML procedures.
Who can open an account in a Ukrainian bank
Ukrainian legislation allows opening accounts for both non-resident individuals and foreign legal entities or representative offices.
Most often, accounts are opened by:
- foreign citizens residing or working in Ukraine;
- founders and directors of Ukrainian companies;
- foreign investors;
- owners of real estate in Ukraine;
- representative offices of foreign companies.
At the same time, each bank has its own risk assessment policy and may establish additional requirements depending on the client’s citizenship, country of tax residence, and the nature of future transactions.
What documents are required to open an account
The list of documents depends on the specific bank and the status of the client.
In most cases, the bank requests:
- a passport or other identity document;
- a document on the legality of stay in Ukraine (if available);
- the registration number of the taxpayer’s record card of Ukraine (TRCN);
- proof of residential address;
- documents regarding the source of funds;
- information about sources of income.
For corporate clients, corporate documents, ownership structure, information about beneficiaries, and documents regarding the company’s activities may additionally be required.
The more transparent the client’s profile, the faster the account opening occurs.
| Client type | Main documents | Additional checks |
|---|---|---|
| Non-resident individual | Passport, TRCN | Source of Funds |
| Founder of a Ukrainian company | Passport, corporate documents | KYC check |
| Foreign investor | Documents on assets | AML check |
| Representative office of a foreign company | Registration documents | Verification of ownership structure |
Main difficulties when opening an account
In practice, problems arise not due to legislative restrictions, but due to the compliance procedures of banks.
Banks pay special attention to:
- the source of the client’s funds;
- tax residence;
- country of citizenship;
- politically exposed persons (PEPs);
- international sanctions.
For clients from high-risk jurisdictions or with complex corporate structures, the bank may conduct an enhanced check, which takes several weeks.
That is why proper preparation of documents significantly increases the chances of a positive decision from the bank.
How Prikhodko & Partners helps
The Prikhodko & Partners team provides support for opening bank accounts in Ukraine for individuals and legal entities from different countries of the world. We help clients even before submitting documents to evaluate the requirements of a specific bank, prepare a package of documents, and pass the compliance check.
Our specialists accompany the receipt of TRCN for foreigners, preparation of documents regarding the source of funds, structuring of corporate documents, and communication with the bank at all stages of the procedure.
An important advantage of Prikhodko & Partners is the combination of banking, tax, and corporate expertise. Thanks to this, we not only help to open an account but also take into account tax consequences, currency regulation, and the client’s future business goals.
Separately, we support foreign investors, owners of Ukrainian companies, international groups of companies, and clients with increased compliance risk, for whom the standard approach of banks often turns out to be insufficient.
Are you planning to open a bank account in Ukraine as a foreigner or investor? Avoid refusals and lengthy checks by compliance services. Contact the lawyers of the Prikhodko & Partners company for competent preparation of documents and turnkey support!
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1 question
Do you need to open an account in a Ukrainian bank?
2 question
Do you need help obtaining a tax number (TRCN)?
3 question
Are you a citizen of another country and plan to conduct business in Ukraine?
Can a foreigner open an account in Ukraine without a residence permit?
Yes. In most cases, a residence permit is not a mandatory requirement; however, it is necessary to obtain a Ukrainian tax number and undergo identification procedures.
Is it possible to open an account remotely?
It depends on the bank and the client category. For non-residents, most Ukrainian banks still require personal identification or the participation of a representative by proxy.
How long does it take to open an account?
Provided the package of documents is properly prepared, the procedure usually takes from one to ten working days, depending on the bank and the complexity of the compliance check.
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