Ukrainian founders opening a company abroad: US LLC, Polish sp. z o.o. or Estonian OÜ

Since 2022 many Ukrainian founders have set up a second company abroad: to sign contracts foreign clients trust, to raise investment, or because the team is now spread across Europe. The choice of country shapes banking, tax and paperwork for years.

William Sunjo M.Operations and compliance editor

Published: 25 September 2026
Reading time: 2 min read

A Kharkiv product team of eight is now spread between Kraków, Lisbon and Kharkiv. It sells software to US mid-market companies and wants to raise a seed round. The founders run a Ukrainian TOV for local staff and need a company abroad that American clients and investors will contract with. Three options come up in every founder chat: a US LLC, a Polish sp. z o.o. or an Estonian OÜ.

What a foreign company does and does not do

A company abroad helps with three things: client trust, investment and access to payment rails. It does not change the founders' personal tax position. A founder resident in Ukraine remains subject to Ukrainian tax, including controlled foreign company rules that can tax a foreign company's profits, and to NBU rules on investing abroad, which martial law tightened. Take advice in Ukraine before you form the company, not after.

US LLC

Good for selling to American clients and for early services revenue. A Delaware or Wyoming LLC can be formed online in days.

Clients and platforms recognise it, and US account details let clients pay by ACH.
Non-resident owned single-member LLCs file Form 5472 with a pro forma 1120 every year. Penalties for missing it are high.
For venture rounds, US investors usually want a Delaware C corporation instead.

See Delaware vs Wyoming LLC for non-residents and the Form 5472 guide.

Polish sp. z o.o.

Good when the team has moved to Poland, or for selling in the EU. It can be registered online with low capital. Polish accounting, KSeF e-invoicing and CIT rules apply. Banking is easier with a board member or staff in Poland.

Estonian OÜ

Simple to form and run online through e-Residency, and Estonia taxes profits only when distributed. Estonian banks often decline companies without real ties to Estonia, so most e-resident founders use payment institutions instead. A company managed from elsewhere may also be tax resident where it is managed.

Choosing

Mostly US clients and services revenue: US LLC.
Team in Poland, EU clients: Polish sp. z o.o.
Fully remote, small, EU clients: Estonian OÜ, if banking works.
Planning a US venture round: Delaware C corporation.

Where Rivet fits

A Rivet business account accepts applications from registered companies such as a US LLC, a Polish sp. z o.o. or an Estonian OÜ owned by Ukrainian founders, with the document list shown up front and a decision aimed within three business days. Approved companies get US dollar details on every plan and euro details with an IBAN plus sterling details from the Growth plan, in the company's name. Rivet is not a bank; regulated partner institutions hold the funds and make the final approval.

Questions people ask

Does a foreign company avoid Ukrainian tax?

Not for a founder resident in Ukraine. Ukraine's controlled foreign company rules can tax undistributed profits of foreign companies controlled by Ukrainian residents, and currency rules apply to investing abroad. Take advice in Ukraine.

Which country is best for a Ukrainian startup raising money?

US investors often prefer a Delaware corporation. A Delaware or Wyoming LLC is simpler for a services business. EU investors may accept Polish or Estonian companies.

Can a non-resident own a Polish sp. z o.o.?

Yes. Foreign individuals can own and manage one. Banking is easier if a board member or the team is in Poland.

Do I need an EIN for a US LLC?

Yes. Banks, payment providers and clients will need the LLC's EIN, and non-resident owned LLCs file Form 5472 with a pro forma 1120 each year.

Sources

Written by

William Sunjo M.

Operations and compliance editor

William covers what happens once a company starts moving money: getting the business verified, paying contractors and suppliers abroad, and keeping card spend under control. William writes for the founder or finance lead who has to make it work this week, and links every rule cited to the text it comes from.