RECEIVING A GRANT OF 8 000 000 UAH

Receiving a grant of 8 000 000 UAH is financial assistance provided by the Ukrainian government for the implementation of production projects for the creation or development of processing enterprises.

In this, we will analyze the articles which are the conditions for receiving such a grant, what documents are required for submission, and who can receive such a grant.

Who can receive a grant for the creation or development of a processing enterprise up to UAH 8 million?

• Citizens of Ukraine, including individual entrepreneurs;
• Legal entities whose owners are citizens of Ukraine;
• Persons who do not live and do not work in economic temporary activity  occupied territories of Ukraine ;
• Persons who are not engaged in any economic activities within the Russian Federation or the Republic of Belarus ;
• Enterprises that do not produce alcoholic beverages do not sell weapons and tobacco products.
• Companies that are not participants in the securities market, private pension funds, pawnshops, insurance and credit organizations, investment funds, and other similar business entities.
• Recipients to whom economic sanctions or other restrictive measures were applied;
• Persons who are not in the stage of bankruptcy or liquidation of their own enterprises ;
• Recipients should not have debts to the state;
• Persons who were not prosecuted for corruption crimes.

Grant can be provided up to the amount of UAH 8 million. However, the first 1000 applications that will be considered, can get up to 70% of the project cost from states, while the following applicants – up to 50%. In addition, the grantee must contribute its own contribution at least 20% of the cost of the project, with the exception of credit funds.

Which conditions receive a grant of up to UAH 8 million?

The grant is provided for the development processing industry, including creating new factories or increasing productivity in existing production capacities.

Grant can be used for the purchase of machines and equipment, which are basic means of production. During the grant agreement, the following assets cannot be sold or transferred. However, in this case, necessity penalty collateral may be allowed for their alienation. A grant can also be used to provide and install basic production resources, such as machines, technological hardware, and software provision.

What documents are required for submission?

To receive a grant, you must submit an application and a business plan, the form of which is determined by the Ministry of Economy. In the application, you will have to indicate: the purpose of the project and its description, development strategy, budget, terms, and other information related to receiving a grant.

The business plan should contain – a description of the product or services to be provided, a market assessment, competitive advantages, marketing strategy, and financial indicators, etc.

Who decides on granting a grant?

After checking your application and business plan, the Ministry of Economy makes a decision on granting a grant. This may take some time, depending on the scope and complexity of the verification procedure. The relevant notification of the decision is sent to the applicant at the e-mail address or post office number specified by him.

If the decision to grant a grant is made, the applicant is provided with detailed information on the conditions and terms of use of the received funds. Control measures can also be carried out regarding the use of the grant and the achievement of the planned goals specified in the business plan.

In case of a positive decision on receiving a grant, you will have to:

• create at least 25 jobs at the processing plant;
• conduct business for at least 3 years;
• pay taxes for the employment of new employees at the enterprise.

If you cannot fulfill these obligations to the state, you will have to return the amount of the received grant.

If you are interested in receiving a grant of 8 million hryvnias, our specialists can help you collect the necessary documents and create a business plan for submitting an application. Our team knows the procedure for obtaining grants and has extensive experience in this field. We are ready to help you at every stage of the process, starting from the preparation of documents to the completion of the application and its submission.

Contact us for help in obtaining a grant and we will gladly help you in the implementation of your project.