Video Briefing

The Wandering Investor: Who is Moving to Ukraine During Wartime?

Sep 22, 2026Video Briefing12:12Watch on YouTube

Living in Ukraine during the ongoing conflict is possible for foreigners who are willing to navigate a unique set of residency pathways, real‑estate opportunities, and practical challenges such as limited flight connections. While the country faces security and economic pressures, the cost of living remains low for Western visitors with modest budgets, and several programs make longer stays and investment attractive.

Residency pathways

  • Volunteer‑based temporary residency – A flat fee of roughly $900 for the first year (renewable for $700 annually) grants a one‑year permit, extendable up to five years and convertible to permanent residency.
  • IT professional fast‑track – Foreign IT workers can obtain permanent residency after a short stay (about one to two weeks) and retain it while traveling abroad.
  • Military service route – Foreign volunteers who serve at least six months in the Ukrainian armed forces become eligible for citizenship without additional exams; they may leave the service after six months if desired.
  • Citizenship for Ukrainian descendants – Recent legislation allows individuals of Ukrainian ancestry to acquire citizenship without renouncing their current nationality. The process requires a single visit to Ukraine and is open to citizens of more than 20 countries, including the United States, Canada, and most EU states.

Real‑estate market

  • Urban housing – Prices have risen since 2022, but some properties bought in 2023 have already doubled in value, especially in cities that have remained relatively stable (e.g., Lviv, Kyiv suburbs).
  • Agricultural land – Available at roughly $1,000 USD per hectare in central regions and as low as $100–$200 USD per hectare in the east when purchased through a corporate structure. Rental yields of 15‑20 % are reported, making it a high‑return investment compared with European farmland.
  • Risk considerations – Land that is not occupied or under Russian control offers the best upside. Front‑line areas have stabilized over the past year or two, but investors should verify the security status before purchase.

Practical considerations

  • Travel logistics – Direct flights are limited; most arrivals require at least one day of overland travel. Longer stays (over 90 days) are now preferred, as short‑term entry can be more cumbersome.
  • Cost of living – With the Ukrainian hryvnia still supported by EU assistance, Westerners can maintain a comfortable lifestyle on $1,000 USD per month, covering rent, food, and basic services.
  • Safety – While occasional bombings occur, they are less frequent in major cities and towns away from the front lines. Daily life (taxi services, open shops) proceeds with minimal curfew restrictions for residents who avoid “stupid” activities.

Investment outlook

  • Capital appreciation – Real estate and agricultural land not affected by occupation are expected to appreciate significantly, especially if Ukraine eventually joins the EU.
  • Income generation – Agricultural leases can yield 15‑20 % annual returns; urban rentals are also recovering as the population returns to previously evacuated areas.

Overall, Ukraine presents a niche but viable option for expatriates, investors, and volunteers willing to accept the inherent risks of a conflict zone. Careful due diligence on property location, residency requirements, and security conditions is essential before committing resources.

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