The founder of Finevolution shares her thoughts on how e-Residency helps businesses from Ukraine go global from the start
This guest post about how e-Residency helps businesses from Ukraine was written by Finevolution, a one-stop-shop for business scaling and a trusted Marketplace member.
More than 150 Estonian companies with Ukrainian e-resident owners are receiving ongoing support from Finevolution in various aspects of their growth — from company registration and tax optimization to payment system integration and legal compliance. CEO of Finevolution, Nataliia Haikalova, shares her experience of how e-Residency became a foundation for Ukrainian entrepreneurship.
“I was amazed that the whole process took just four minutes!”, recalls Nataliia Haikalova, speaking about the moment she personally received her e-resident card at the Estonian embassy. The founder of Finevolution — a company specialising in business support across more than 20 jurisdictions — not only helps clients set up companies through e-Residency, but has gone through the process herself. This experience shows that for Ukrainian entrepreneurs, the programme is not just a legal tool but a chance to build a global business with access to European markets.
In this feature, Nataliia shares how her team has been working with clients from Ukraine and Poland for over 7 years — clients who are seeking growth and international expansion. And how Estonia’s e-Residency programme has become a response to real market needs.
I never planned to become an expert in international business — I studied international relations and dreamed of a diplomatic career. But after getting to know the bureaucratic machine up close, I decided to take a different path — in my fifth year at university, I got a job at a bank. "I went from working with individuals to supporting large holding companies. But over time I realised: it no longer inspired me. I left — and started from scratch as a freelancer."
After a brief role at a startup related to accounting, I discovered my strengths: analytics, structure and strategy. That’s how Finevolution was created — a consulting company that helps entrepreneurs launch businesses, plan taxes, and work with international payment systems.
The company’s first office was opened in Kyiv, Ukraine, in May 2017. From day one, I clearly positioned Finevolution as a one-stop solution for entrepreneurs seeking international business registration opportunities. Some of the earliest client requests involved company registration in Poland — the nearest and most accessible country for Ukrainians — and in Estonia, where the e-Residency programme was launched back in 2014. By the way, for the Ukrainian market, I believe it was truly a breakthrough solution that enabled remote business registration in a European jurisdiction.
In 2019, the Finevolution team opened its first international branch. When it came to choosing the country, we saw two clear options to start with — Poland and Estonia.
Poland was the first choice for registration. The logic was simple — we know the country’s tax and legal system inside out, regularly register companies for our clients there, have convenient transport links, and a large Ukrainian diaspora. What could possibly go wrong?
"I remember spending an entire day with a lawyer just to register the company in Poland and get it listed with all the required institutions — even though I knew the system well."
Practical experience showed that registering someone else’s company is much easier — you take on obligations within a contract and cover most of the registration steps yourself. But when you register your own company, the process is much more complex. It requires full involvement in the bureaucratic maze — and it can be surprisingly overwhelming.
At the same time, we were increasingly recommending Estonia to our clients — as one of the most convenient jurisdictions in Europe. A simple online registration process, full digitalisation, a flexible tax system, and clear regulations for non-residents, all make Estonia an ideal choice for small and medium-sized businesses. Moreover, the experience of opening a company in Poland gave us a clear understanding of the comparative advantages Estonia offers.
So, the next step in our expansion was registering an OÜ through the e-Residency programme.
"Estonia is a great option for scaling — investment levels are growing steadily, and more unicorns are emerging. We gained access to a highly efficient digital system for managing the company, minimal bureaucracy, reduced time on tax reporting, and optimised many unnecessary processes thanks to all these benefits."
After preparing and submitting the documents online, I ordered my e-resident card to be delivered in Warsaw. It’s worth noting that the card can also be collected in Kyiv, but delivery to Warsaw is usually a few weeks faster — and I happened to be there on business.
“That day, I had blocked off a few hours to pick up the card — expecting a queue, checks, formalities... But from the moment I stepped out of the taxi, it took just four minutes — and I was already holding the envelope with the card in my hands. A smile, a fingerprint scan — and done. As an entrepreneur, I was honestly shocked — in the best way possible.”
This experience became a symbol of how a digital state should work — fast, transparent, and user-focused.
First of all, it’s important to note that e-Residency allows entrepreneurs to register a company fully online — something that became critically important during the war and periods of relocation. Business owners often have extremely limited time and can’t afford unnecessary bureaucratic hurdles.
Secondly, Ukrainian entrepreneurs often face additional complexities — questions around double taxation, Controlled Foreign Company (CFC) reporting, and opening accounts with international banks or payment systems. “Most often, we work with startups, IT companies, and agencies. For them, registration is just the first step. What follows is ongoing support — taxes, banking, compliance.”
Opening bank accounts is one of the most sensitive issues. Estonian banks often expect a real presence in the country — such as a physical office or local partners.
In such cases, payment platforms like Payoneer, Wise or Stripe become an effective alternative for receiving payments from clients all over the world. “We are official partners of the global payment platform Payoneer, which allows our clients to open multi-currency accounts and receive payments from almost anywhere in the world with maximum convenience. Our managers assist with the compliance process, so clients don’t have to get bogged down in formalities — and can quickly start using a fully functioning account.”
In addition to these advantages, e-Residency offers state fee reimbursement to financially support Ukrainian entrepreneurs. Read more on the e-Residency website:
Becoming an e-Residency Marketplace member has become a strategic direction for Finevolution. We're ready to share with other entrepreneurs how e-Residency helps businesses from Ukraine. In fact, our team has been involved in the launch of over 300 Estonian companies, of which 120–150 are under active ongoing support.
“The Finevolution model is not just about registering a company. It’s a full support cycle — from tax planning to working with payment platforms. Entrepreneurs receive assistance at every stage.”
Finevolution has been taking part in e-Residency events in Ukraine since 2017, regularly hosts joint webinars with payment platforms, and helps entrepreneurs not only register but also structure their businesses in line with international requirements.
The company’s presence in Estonia is also about risk diversification. When your entire business depends on one country, that’s a vulnerability. However, when you build a resilient structure across multiple jurisdictions, you unlock an entirely new level of flexibility and opportunity.
Continuing the theme of business diversification, it’s worth mentioning that Ukraine has also launched its own e-residency initiative — uResidency.
By April 2025, the uResidency program in Ukraine is currently available to citizens of four countries: India, Pakistan, Thailand, and Slovenia. This initiative focuses on IT professionals and specialists in the creative economy. The Ukrainian government plans to gradually expand the program to include citizens from other countries. The uResidency program in Ukraine is designed for sole traders (individual entrepreneurs), not businesses or corporations. It allows foreign nationals to register as sole proprietors in Ukraine, earn income from abroad, and pay taxes in Ukraine.
Special tax conditions have been developed for uResidents — a flat 5% on total income. Tax payments and reporting are handled automatically, making the process much easier for entrepreneurs.
According to estimates from the Ministry of Economy of Ukraine, attracting just 1,000 e-residents could bring about $1 million into the Ukrainian economy annually.
As the founder of Finevolution, I see enormous potential in the uResidency programme to attract international entrepreneurs and investors to Ukraine. I hope we will gather the best practices from our colleagues at Estonia’s e-Residency and unlock even more opportunities to launch and grow transparent businesses across jurisdictions — from Estonia to Ukraine.
