Export of IT services from Ukraine – FiduciaSoft

Export of IT services from Ukraine

IT services boom

Ukraine is the №1 software development center in Central and Eastern Europe. In addition, it is the fourth largest exporter of IT services and products in the world. We are the best at what we do on the global arena.

According to a report by the Ministry of Economic Development and Trade of Ukraine, the industry of IT services is the only type of export which has been growing steadily in Ukraine in the past few years. In 2015, computer services amounted to 79% of all exported IT services. Mostly, it was the outsourcing of software development.

Ukraine`s main trade partners in IT services are the USA, Great Britain, Germany, and Sweden.

We owe our success to the talent of more than 100 000 IT professionals, a strong education system and the support of the Ukrainian government. A relatively low cost of high-quality services provided by Ukrainian IT specialists is among other reasons for the rapid development of the industry.

Government support

Last year, Ukraine’s Parliament voted for a law which affects the cooperation between companies that export IT services and customers abroad. Therefore, working with IT services providers from Ukraine will get even easier.

Innovations offered in the law:

  • no need to sign a written contract with a wet stamp. Therefore, there is no need to verify it at the bank afterward. The contract for the services (for example, software projects) can be done in a digital format via email through the adoption of a public offer upon invoicing. The same applies to freelancers;
  • banks lose the right to demand contracts translated into Ukrainian. It is enough to provide documents in English. Then bank employees have to do the translation themselves;
  • the bill will be the primary accounting document. It will facilitate accounting and communication with tax services;
  • banks will be able to identify export operations. However, currency control over the export-oriented services transactions will be eliminated. Banks may request invoices to confirm export services.

Reasons to outsource IT services from Ukraine:

  • highly-skilled employees;
  • lower salary rate for high-quality results;
  • lower tax base;
  • no time loss on recruitment;
  • simple accounting and administrative duties.

To discover more data about the IT industry in Ukraine, watch this video created by the Ministry of Economic Development and Trade of Ukraine.

«Ukraine is open to software development, establishment of R&D centers, e-commerce, and startups. Open to IT. Open to You!»