A stable presence of foreign capital in big business has been recorded in Ukraine. As of mid-March 2026, almost three thousand companies with foreign owners submit financial statements with annual income exceeding 100 million hryvnias.
Analysis of data from the Unified State Register shows that despite difficult geopolitical conditions, Ukraine remains integrated into the global economic system, and key international players continue to maintain activity in the domestic market.
The geography of origin of the owners demonstrates a traditional attachment to certain jurisdictions. The leader in the number of companies is Cyprus, whose representatives own almost 700 enterprises. The second and third places are occupied by citizens of Germany and the USA, respectively. Also, a significant share of the market is held by investors from the Netherlands, Great Britain, Austria and Poland. Experts note that such a distribution is due to the convenience of structuring business processes through international financial centers.
“Cyprus and the Netherlands have long remained key hubs for structuring Ukrainian business”, — Opendatabot analysts emphasized.
The greatest concentration of foreign capital is observed in the capital, where almost half of all such companies are registered — about 1,500 enterprises. Among the regions, the leaders in terms of attracting foreign owners are Lviv and Kyiv regions. Instead, foreign investors are least active in frontline regions, in particular in the Kherson and Donetsk regions, which is directly related to security risks.
“In Ukraine, there are almost 3 thousand companies with foreign owners that submit financial statements and have revenues of at least UAH 100 million per year,” the researchers noted.
The sectoral distribution of foreign business indicates a high interest in the services and manufacturing sectors. More than a quarter of all companies are concentrated in wholesale trade, which reflects the role of foreign capital in ensuring import-export operations. Foreigners also hold significant positions in agriculture and the IT sector.
In parallel with the growth of foreign presence, Ukraine has seen a positive trend in female leadership. During 2025, women headed more than 12,000 new companies, which corresponds to pre-war indicators of entrepreneurship development.
“In 2025, women headed 12,757 new companies, which is 34% of the total number of newly created businesses,” the report summarized.
