Ukrainians can get money to start and develop a business

The Ministry of Reintegration reminds.

Under the programme, citizens can receive a one-time interest-free repayment of up to UAH 100,500 to start or develop their own business for 3 years.

People from low-income families who are registered at the Employment Centre as unemployed can apply for assistance.

To become a participant of the programme it is necessary to come to Employment Centre and apply to the Commission on provision of assistance for economic self-sufficiency of a low-income family.

The following will be required:

• an application for financial aid,
• business plan,
• certificate of no criminal record.

The committee will then consider the application and inform the applicant of the outcome. If the decision is positive, the applicant has to do the following:

• within 30 calendar days register as an individual entrepreneur or register a legal entity;
• sign an agreement with the Employment Centre on the provision of financial aid;
• submit the invoice and the contract with the supplier of equipment or materials to the Employment Centre;
• after the Labour Office transfers the funds to the vendor's account; to receive the equipment or materials.

When will the support be returned to the state?

There are two options for returning the aid.

First, the money has to be returned after a period of three years from the date of receipt of the single amount (within 30 calendar days).

The second option is early repayment, in instalments according to a schedule agreed by the Jobcenter.

It is important that the amount of the refunded financial aid is reduced by the amount of taxes, fees and ERUs paid.

There is also an option for the self-employed person not to return the money. This includes the cases when:

• taxes, duties and ERUs were paid in the amount exceeding the granted aid;
• in the first year after receipt of the subsidy the self-employed person employed at least two persons from low-income families for the period longer than two years as directed by the Labour Office.