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565 technology companies joined Diya.City

  • June 22, 2023
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Diya.City, a special legal regime developed for the development of the IT sector in Ukraine, has been operating since February 8, 2022. Over a year, 565 tech companies

Diya.City, a special legal regime developed for the development of the IT sector in Ukraine, has been operating since February 8, 2022. Over a year, 565 tech companies have already joined.

Dmytro Zinchenko, legal expert of Diya.City project office, informed Ukrinform about this.

“Currently, 565 companies and 508 residents joined the Diya.City area during the all-out war. More than 43,000 specialists work in established companies. We are registering new residents every week – these are both big tech companies and start-ups. Among them are well-known international and Ukrainian technology companies – Samsung, SAP, Global Logic, Epam, Revolut, Kyivstar.Tech, Monobank, Visa, Nokia, Lyft, MacPaw, Ajax Systems,” he said.

According to him, the ministry is currently focusing specifically on supporting companies that create technological products for use in the defense sector (drone manufacturers, security system devices, thermal cameras, optical devices, etc.).

Zinchenko reminded that during the large-scale war, the field underwent changes so that companies could work and develop more comfortably. During martial law, companies that do not meet the criteria for the number of employees and the average salary are not deprived of residency status. Residents are also not required to submit a compliance report and independent audit report until 1 January of the year following the peace year.

“We have expanded the list of qualified activities in Diya.City so that as many technology companies as possible can benefit from the favorable conditions of Diya.City. Technology companies related to the production of technological products for use in defense, industry and domestic areas, international payment systems and cloud solutions received support in the field.

As reported Diya.City is a unique legal and tax area for IT companies in Ukraine. It combines comfortable tax terms with effective tools that allow companies to establish a transparent corporate structure, attract foreign investment more easily, and also use additional mechanisms to protect intangible assets.

Source: Ukrinform

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