Investing in shares of the world’s largest companies — Apple, Google (Alphabet), Meta, Amazon, Microsoft, Tesla and others — remains one of the most popular long-term capital allocation strategies for private investors from Ukraine. Despite the war, FX restrictions and enhanced financial monitoring, Ukrainians still have a legal way to invest in foreign stocks.
Below is a step-by-step, up-to-date guide on how to buy shares of foreign companies without leaving Ukraine, taking into account current rules, restrictions and tax requirements.
Is it allowed for Ukrainian citizens to buy shares of foreign companies?
Yes, it is allowed.
Since February 7, 2019, Ukraine has been operating under the Law of Ukraine “On Currency and Currency Operations,” which abolished individual FX licenses. Instead, Ukraine uses the system of electronic limits (e-limits).
Current limits (2026):
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Individuals: up to EUR 200,000 per year
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Legal entities: up to EUR 2 million per year
Despite the war, e-limits continue to work, however:
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banks apply enhanced financial monitoring;
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banks more often request proof of the source of funds;
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some banks introduce internal restrictions or additional checks.
Statistics: how much Ukrainians invest abroad
According to the NBU and banks:
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Ukrainians actively invest abroad via stocks, ETFs, real estate and crypto assets;
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after 2022, the structure shifted toward financial assets rather than real estate;
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U.S. stocks and ETFs remain the most popular.
Updated return example: investments in Big Tech stocks (Apple, Microsoft, Nvidia, Meta) in 2023–2025 delivered 15–35% per year, but with high volatility.
Step 1. How to arrange an electronic limit (e-limit)
An e-limit is required to transfer funds from a Ukrainian bank to an account with a foreign broker or bank.
Transfer purposes:
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investing in securities;
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funding a brokerage account;
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investing in funds or ETFs.
What you need to provide to the bank:
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an application stating the purpose of the transfer;
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proof of the source of income, such as:
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a tax return;
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an income certificate;
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an FOP declaration;
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proceeds from the sale of property;
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investment income;
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inheritance.
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Important: banks now check not only the client, but also:
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the broker;
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the jurisdiction;
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the nature of the transaction.
Bank fees:
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transfer fee: 0.5–1.5%;
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SWIFT fee: additionally $20–50.
Step 2. How to transfer money to a foreign broker
There are two main routes.
Option 1. Directly to a foreign broker
The most popular and economically efficient option.
Most common brokers:
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Interactive Brokers
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Saxo Bank
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Exante
Minimum deposit:
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Interactive Brokers — from $1;
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a comfortable starting range — $3,000–10,000.
Advantages:
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low commissions;
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direct access to U.S. and EU exchanges;
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asset protection (U.S. SIPC — up to $500,000).
Option 2. Via a Ukrainian investment firm
A Ukrainian firm:
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helps you open an account;
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supports the transfer process;
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sometimes provides portfolio management.
A Ukrainian intermediary does not trade directly on NYSE or NASDAQ — it works through a foreign partner.
Step 3. Fees when buying shares (updated)
With foreign brokers:
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trade commission: $0–2 or $0.005–0.01 per share;
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account maintenance: usually $0;
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withdrawals: 1 free withdrawal per month (Interactive Brokers).
Via a Ukrainian intermediary:
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brokerage fee: 0.1–0.5%;
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possible minimum fee (e.g., UAH 300–500);
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asset management: 10–20% of profit (in discretionary management).
Step 4. How to buy Apple, Google, Amazon shares
After opening a brokerage account:
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fund the account;
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select a ticker (AAPL, GOOGL, AMZN, META, etc.);
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buy stocks or ETFs;
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hold the assets in the brokerage account.
In 2026, many investors prefer ETFs (S&P 500, Nasdaq 100) as a more diversified instrument.
Step 5. How to repatriate money and profits to Ukraine
When you sell shares:
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profit = sale price – purchase price;
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funds are transferred back to a Ukrainian account via SWIFT.
A bank in Ukraine may request documents if:
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the amount is significant;
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the investor is a public figure;
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the transaction pattern looks unusual.
In practice, with a transparent brokerage account history, issues typically do not arise.
Taxes for a Ukrainian investor (critical)
In 2026:
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18% personal income tax
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1.5% military levy
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total: 19.5% on net profit
Tax is paid independently via an annual tax return.
Updated example:
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investment: $10,000
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profit: $3,000
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tax: $585
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fees: ~$50–100
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net profit: ~$2,300–2,350
Key takeaways
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investing in stocks from Ukraine is possible and legal;
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the main risk is volatility, not bans;
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the EUR 200,000 e-limit restricts large private investors;
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for long-term investing, ETFs and Big Tech are often optimal;
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taxes must be planned in advance — there is no automatic withholding.
Which stocks do investment banks and top analysts recommend in 2026?
In 2026, investment banks and leading research houses build recommendations around several major macro trends: the rise of AI, business digitalization, a rebound in capex, the energy transition, and demand for stable cash flows in volatile markets.
Below is a generalized overview of sectors and companies most frequently featured in recommendations by investment banks, asset managers and sell-side analysts for 2026.
1) Technology and Artificial Intelligence (AI & Big Tech)
Analysts remain constructive on tech, especially companies that:
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have large-scale AI ecosystems;
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generate stable operating cash flow;
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dominate their niches.
Most frequently mentioned:
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Apple — stable margins, services ecosystem, buybacks;
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Microsoft — enterprise AI, cloud services, B2B model;
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Alphabet — search, advertising, AI infrastructure;
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NVIDIA — a key supplier of AI chips (with elevated volatility risk);
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Meta — advertising + AI-driven cost optimization.
Key risk: high valuations after strong performance in 2023–2025.
2) ETFs as a core strategy for retail investors
In 2026, many investment banks advise private investors not to concentrate only on single stocks, but to use ETFs as the portfolio foundation.
Most common directions:
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S&P 500 ETF — broad U.S. market diversification;
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Nasdaq 100 ETF — tech-focused exposure;
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AI and Semiconductor ETFs — thematic strategies;
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Dividend ETFs — stable income in USD.
ETFs are often presented as an optimal solution for investors from Ukraine who face e-limit constraints and do not want active portfolio management.
3) Energy and infrastructure
Recommendations often include exposure to:
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traditional energy with higher dividends;
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infrastructure companies;
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selected segments of renewables.
Analysts emphasize:
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stable cash flows;
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dividend policies;
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government support programs.
4) Financial sector
After a period of tight monetary policy, analysts see the financial sector as moderately attractive in 2026, focusing on:
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large systemically important U.S. banks;
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asset management companies;
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payment systems.
Calls here tend to be more cautious than in Big Tech, but the sector is often used to balance a portfolio.
5) Consumer brands and companies with stable demand
Investment banks also highlight companies that:
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operate in mass consumer segments;
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have strong brands;
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show resilience during periods of economic turbulence.
These stocks are often treated as defensive growth.
Important disclaimer for Ukrainian investors
Sell-side recommendations:
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are not a guarantee of profit;
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often change as macro conditions evolve;
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vary by time horizon (6–24 months).
For a private investor from Ukraine in 2026, the fundamentals remain:
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diversification;
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control of FX and tax risks;
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staying within the e-limit;
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combining ETFs with a selection of individual stocks.
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