Ukraine publishes preliminary schedule for increasing the minimum wage

The Ministry of Finance of Ukraine published a preliminary schedule for increasing the minimum wages in Ukraine. The schedule is as follows (wages per month):

– from September 1 of 2020 it will be increased to 5 thousand UAH;

– from January 1, 2021 – up to 6 thousand UAH ;

– from July 1, 2021 – up to 6.5 thousand UAH.

Citizens of third countries acting as managing directors of enterprises in Ukraine should keep in mind the requirement to pay a salary of 10 times the minimum wage to foreigners-directors, unless the individual in question is an ultimate beneficiary (owner or part-owner) of the enterprise, or falls into other special categories which remove the need to pay the 10-fold minimum wage.

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