War bonds – what you need to know before investing

War bonds – This is a special type of OVGZ. The main purpose of the issue of military bonds – support of the economy of the state and the Armed Forces during the war or hostilities. Therefore, the state creates conditions so that as many citizens as possible can purchase war bonds.

What are war bonds

First of all, you should familiarize yourself with the official definition of the term “Ukrainian domestic government bonds” (OVGZ). OVGZ – these are securities placed exclusively on domestic capital markets and confirming Ukraine’s obligations to reimburse the bearers of these bonds for their nominal value with the payment of income in accordance with the terms of placement of bonds. That is, government bonds – This is a type of debt securities issued to attract additional financial resources for the needs of the state budget. The issuer (issuer of securities) of government bonds is the Ministry of Finance of Ukraine.

In turn, war bonds – This is a special type of OVGZ. The main purpose of the issue of military bonds – support of the economy of the state and the Armed Forces during the war or hostilities. Therefore, the state creates conditions so that as many citizens as possible can purchase war bonds.

People buy war bonds from the state for a certain price, and after the maturity date, the state returns the money to them, and also pays the accrued interest.

Thus, it is quite appropriate to consider the purchase of government bonds, including military bonds, as an alternative to a bank deposit.

It is also important that the redemption of war bonds is fully guaranteed by the state, which makes them one of the most reliable securities. In fact, the only risk for a potential investor in such bonds – this is the risk of Ukraine not paying its debts, that is, default.

It should be noted that paper war bonds do not exist. The circulation of war bonds is carried out exclusively in electronic form.

We emphasize once again that by buying war bonds, you help the functioning of the state here and now, from helping the Armed Forces of Ukraine to supporting the work of state bodies and local governments. At the same time, a person who buys war bonds, after the maturity date, will be able to return his money and make a profit in the form of accrued interest. Thus, war bonds can be seen as an aid to the state and as one of the ways to save your own money during the war.

Real War Bond Yields

War bonds yield 9.5% (three-month bonds), 10% (six-month bonds), and 11% (1- or 1.3-year bonds). Dollar bonds for one year are issued with a yield of 3.7%, euro bonds — with a yield of 2.5% per annum. That is, without even delving deeply into the kitchen of buying and selling securities, it is clear that now war bonds will not make much money, and at best will only help reduce the depreciation of savings from inflation.

In reality, the return on investment in bonds, taking into account the costs of opening and maintaining an account, as well as commission to the seller, with investment amounts from UAH 100 to 200 thousand, can be even lower than today’s deposit rates (up to 6%). It is realistic to approach even the nominal yield only when buying bonds worth more than a million hryvnias.

The only real benefit of war bonds — return of invested funds together with interest is guaranteed by the state in full and is not subject to taxes. In the conditions of war — this is an important advantage, but today it does not even allow you to save your savings.

Course swing

The situation with the exchange rate of the national currency deserves special attention. After all, the real yield of debt securities directly depends on the situation on the foreign exchange market. Today, the hryvnia has dipped quite sharply, and its prospects are very vague.

The fact is that from the first days of the full-scale invasion of Russia, the NBU fixed the exchange rate at the pre-war level of 29.3 UAH / USD. and forbade banks to deviate from it by more than 10%. However, on the “black” and “gray” markets, the rate began to rise gradually. Entrepreneurial Ukrainians immediately took advantage of this. People crossed the border, withdrew currency from card accounts there at a rate close to the official one, and returning to Ukraine exchanged it at the rate of 35−36 UAH/USD. According to the NBU, in this way the country’s financial system began to lose up to $100 million a day.

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In order to stop this “foreign exchange tourism”, the National On May 21, the bank on May 21 abolished the requirement for a maximum 10% mark-up on the official exchange rate when selling cash and gave banks a free hand in terms of setting the rate according to which banks debit hryvnia funds from customer accounts if customers use hryvnia cards abroad. Also, the NBU reduced the monthly limit for withdrawing cash abroad from hryvnia accounts opened in Ukrainian banks by 2 times — from 100 thousand to 50 thousand UAH. Decoupled from the official rate, the cash exchange rate instantly soared, coming close to UAH 40/USD in exchange offices.

However, to draw conclusions about the “real” the value of the national currency is still early. The answer to this question can only be given by a freely operating legal segment of the foreign exchange market, including trading on the foreign exchange market, which is not currently being held. Bankers promise that the cash exchange rate in Ukraine after the removal of restrictions by the NBU will stabilize within 10-15 days, when the “white” and «gray» the markets will even out and become almost the same. Most likely, at the end of May, the exchange rate in bank exchange offices will stabilize at the level of 34−37 UAH/USD. However, the rate will not return to UAH 30.


The war, of course, objectively negatively affects the exchange rate of the Ukrainian currency. The destruction of infrastructure, the fall in GDP, and the increase in government spending both for the needs of the army and for financing social benefits are making themselves felt. Partially, this is now done through various emission mechanisms.

Moreover, one of the main mechanisms for issuing the hryvnia is the same military bonds. On March 8, 2022, the NBU board determined that the central bank would buy back war bonds if necessary and thus finance critical government spending. Purchase limit — UAH 400 billion Many financial experts immediately sounded the alarm about this. Indeed, in practice, this means an additional issue of hryvnia not supported by goods, which does not work for business development.

In reality, the Cabinet of Ministers uses the funds received from the sale of military bonds to finance military and social spending. However, to say that money does not work in the economy is a mistake, because as a result, the funds go to the accounts of enterprises and citizens, respectively, and they spend them, supporting the demand for goods and reviving the economy of Ukraine. Thus, the NBU’s purchase of war bonds in today’s conditions even helps the country’s economy. The fact is that the current level of inflation is associated, rather, with a lack of quality supply and a break in the supply chains of goods, while demand has decreased significantly, because people objectively spend less due to lower incomes and the need to save.

Today, the National Bank finances only critical budget expenditures and is going to abandon this budget financing mechanism as soon as possible. To do this, the Ministry of Finance should stimulate market demand for military bonds and gradually shift the burden of budget financing from domestic banks and the NBU to real investors.

Market rates

The first step is to raise the stakes. Recall that the rate on war bonds today is much lower than even the current inflation. Taking into account all the financial risks in a country at war, an attempt to keep yields at such low levels makes war bonds a non-market instrument. And only market financing, combined with people’s trust in the state and international financial support, can save the economy of Ukraine.

The IMF, the G7 countries, the EU and the US announced multibillion-dollar financial assistance to Ukraine, including to cover holes in the budget. The funds will be provided to the government in foreign currency, which should psychologically strengthen the position of the hryvnia, as these resources will increase Ukraine’s gold and foreign exchange reserves and, in theory, support the national currency. This can create ideal conditions for turning war bonds into a real market instrument for financing the army and the warring Ukraine.


Summarizing the above, we note that investing in military bonds – this is an investment in the independent future of our country, which is now defended by the people of Ukraine. And today it is one of the most effective and reliable ways to bring our common victory closer.

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Investments during the war: how to save and increase your savings

During the war, Ukrainians cannot buy currency, but there are many other ways to investment money. We have considered options for where to invest and where not to invest in 2023.

Charity contributions and war bonds

On March 1, the Ministry of Finance issued military bonds, which are considered to be analogous to a government loan. War bonds are issued specifically to finance the needs of the army. Anyone who has at least UAH 1,000 can buy bonds.


  • one bond costs UAH 1,000;
  • issued for a year;
  • currency – hryvnia (yield 11%) or dollar (yield 3.7%);
  • funds will go to the needs of the Armed Forces of Ukraine;
  • taxes are absent;
  • no proof of income required;
  • citizens, businesses, foreign investors can buy;
  • risks – country default.

There are short-term, medium-term and long-term bonds with a maturity of 2 to 15 months. The rate of return is 9.5-11% per annum. The purchase of long-term bonds provides for interim interest payments.

Where to buy

  • Privatbank – entry threshold 100,000 hryvnia;
  • Oshchadbank – entry threshold from 50,000 hryvnia;
  • through the mobile application of Monobank, Ukrgasbank, FUIB, Univer Capital, BTS Broker. Here they are ready to sell from one bond.

Bank deposit

Deposit rates are now below the inflation rate, but they do not meet the needs of customers. The average rates are 10.1-10.4% per annum in hryvnia, of which 19.5% of taxes still have to be paid. Therefore, a net deposit will bring about 8% of the investment amount.

Banks now have nowhere to invest money, so there is no need to attract deposits. Analysts also do not recommend rushing to put money on hryvnia deposits, as the rates on them are likely to grow. It would be appropriate to deposit part of the funds for a short period, in order to later transfer it to a deposit with a higher yield.

Foreign currency deposits are even less attractive. In large banks, interest rates on them do not exceed 1% per annum, although dollar inflation reached 9.1% in June.

Given the low income, foreign currency deposits can only be considered as a way to legally purchase non-cash foreign currency, which can then be converted into cash.

Precious metals

It is almost impossible to buy banking gold, silver or platinum in Ukraine due to the NBU restriction. The only exception can be the purchase of metals in financial institutions in territories that are under the threat of occupation.

But such investments are unlikely to bring income in the short term, and in the long term, related expenses will destroy most of the income. Buying gold in coins and bars requires valuation and storage, and this requires additional costs. In 2022, gold has fallen significantly in price, but it has the prospect of growth.

Investors invest in gold in times of uncertainty or crisis. Since now there is a high probability of a new global recession, the demand for precious metals may increase.

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This growth is fueled by the ban on the export of gold from russia.


In the west of the country, real estate may have investment attractiveness, but we advise you to focus on logistics and office infrastructure, and not on housing stock.


Experts name four main reasons for the great interest in investing in agricultural land. First, it, unlike other types of real estate, cannot be completely destroyed. Of course, if it is in a zone of active hostilities, then this will negatively affect the quality. However, even in view of this, its stability as an asset is much greater than other types of real estate. The risk also lies in the fact that if this land is under occupation, its use is impossible, in particular, the investor will not be able to lease it to receive passive income. However, after the de-occupation, the land will be available and will justify the investment.

Secondly, land is a stable asset, as prices in hryvnias for it are growing. Of course, we observe a drop in the value of an asset in foreign currency, however, 5% — this is a good indicator, indicating relative stability even during the war.

Thirdly, from 2024, the land market will be open to legal entities, which will affect prices. So investors, having realized the previously acquired asset, will benefit.

And finally, fourthly, we see an upward trend in prices for such land, and this will not go anywhere after the war.

Shares of foreign companies

Investiro Only those who have money abroad can invest in shares of foreign companies. The fact is that because of the war, the National Bank limited the possibilities for the withdrawal of capital from Ukraine.

But such an investment can be a losing one. All leading indices, except for commodities and the healthcare industry, suffered heavy losses due to US monetary policy, quarantine in China, and the energy and food crisis provoked by Russia’s attack on Ukraine. As a result, the shares of many companies have fallen significantly in price.

But this does not mean that we should completely disown Western companies. It always makes sense to keep a certain part of your savings in US stock indices. Whatever the situation, the US market will always rise in the distant horizon.


Despite the limitation of deposits in foreign assets, there are still opportunities for Ukrainians to invest in cryptocurrency.

However, this type of asset is quite risky and very variable. Its price can fluctuate by tens of percent in a matter of hours and depend on hundreds of factors.

For example, the most famous cryptocurrency in the world, Bitcoin, showed a significant annual drop in value, which happened only three times in its entire history.


The lower the risk, the lower the return and vice versa, the higher the return — the higher the risk.

Before investing — study the market. Find out what opportunities, conditions, rules exist.

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Bonds, real estate, gold or cryptocurrency. Where to invest in time of war Introduction

During the war, the theme of finance and investment had gone into the backgroud. As a rule, people invest spare money. And now the solvency of Ukrainians has fallen, unemployment is rising, and prices in stores leave much to be desired. Many have taken out their financial cushions, on which they have been saving money for years.

But there are those who are looking to invest money or at least just save it. Many pre-war investment options have become obsolete. Let’s understand the investment climate in the world market and consider the safest and most profitable ideas for investment in 2023.

Deposits, bonds and currency

Now Ukrainians prefer to make deposits on demand, or on “short” deposits, which can be withdrawn at any time. The advantages of placing savings on bank deposits is the state guarantee and relative security. Disadvantages – deposit rates, which for a long time could not compensate for inflation, because of which since 2020 the number of bank deposits in currency decreased.

Now there is a trend in the growth of deposits. During the war, a law was passed that the amount of 100% would be guaranteed by the state – that’s a plus, and we would advise people against taking risks by investing in more conservative instruments.

Rates on foreign currency deposits, however, did not increase: according to Minfin.com.ua, on average, 2.5-3.5% per annum. But the people received the opportunity to buy currency in the amount of 50 thousand UAH/month in one bank at the rate close to the interbank, and it is about 37 UAH/$. This is below the “street” rate, but provided that the purchased currency goes on a three-month deposit. This tool works actively, and part of the population thus transfers the available hryvnia into the dollar.

Deposits in UAH are significantly higher – in case of placing a deposit for a period of one year you can get up to 15-16% per annum. But these estimates can hardly be considered absolute because of inflation. So this method of investment can be called not an “investment”, but rather, saving funds from inflationary


Agricultural land is a relatively new investment for Ukrainians. In the near future, land prices will fall, but in a measured way: by law, land cannot be sold below the Standard Monetary Valuation (NIR).

Now the land is being sold by people who didn’t plan to do it before. Because of the war and the deteriorating economic situation, it will soon be impossible to pay rent. The situation could change based on the course of the hostilities and if the maritime export of agricultural products could be improved. Unlocked exports would provide the agribusiness with income and enable it to pay the rent. Then the number of people willing to sell the land will decrease.

Besides, even if the land comes under fire, it’s not going anywhere and it’s still an asset. Now we have the lowest possible price. It is likely that over the next two to three years after the end of the war, land will grow in value along with the renewal of Ukraine’s economy.

Real estate

Real estate is a bold market these days. Prices have indeed fallen, but the risks are still too high. Rental rates were also significantly reduced.

In the west of the country, real estate may have an investment appeal, but we recommend focusing on logistics and office infrastructure rather than on housing.

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Now it is impossible to guess when there will be a bottom point in the real estate market, because the war is continuing and the enemy is seizing territory.

Kyiv seems to be safe, but we understand – Kyiv sometimes comes under fire too. Secondly, we do not understand what will be the demand for real estate, because the longer the war lasts, the fewer people will return to Ukraine, and another question: whether and where will increase the price of real estate after the war.

In addition, millions of Ukrainians can stay abroad, and put up for sale their housing back in Ukraine, which can also have a strong impact on the market.

Foreign shares

Now Ukrainians have the opportunity to invest only in foreign shares, not in the domestic, and only those who have money in foreign accounts. The fact is that because of the war, the National Bank has limited the possibilities for capital withdrawal from Ukraine, so the option with Western shares can be considered if you have money abroad.

But even with the availability of such funds outside Ukraine, you need to be careful. Now the behavior of Western markets is more frightening to investors. All leading indexes, except the commodity and health industries (healthcare), have suffered significant losses, and, according to most experts, are still far from growth. Thus, the index of leading NASDAQ technology shares lost more than 20% since the beginning of the year. The Western world may be on the verge of a recession.

We cannot know the future behaviour of the market – it may grow or fall. However, when there is a recession, stocks usually fall. Therefore, in our opinion, this is not the most optimal entry point.

Virtual assets

Investments in cryptocurrency have been questionable before, and now the onset of tighter monetary policy has led to a record collapse in the value of cryptocurrencies. The value of money in the world is rising, and the demand for risky investments is falling. It is impossible to foresee how prices will continue to change.


Gold can be a shield for savings, but only some Ukrainian banks offer “gold” deposits. The price of gold can fall or rise, that is, it is impossible to predict, and it is very difficult for ordinary people to understand this investment instrument.

Other options

Among them – antiques, art objects or even collectible alcohol. At the same time, such investments require some knowledge and effort with regard to the correct evaluation of objects. In addition, acquired luxury objects need to be properly and reliably maintained, which is quite difficult to do under the constant threat of rocket attacks.


Our advice is to invest in your own business. Of course, business risks have not been eliminated, but such investments can give the greatest returns. According to experts, for small manufacturers, especially food manufacturers, it is now much easier to get on the shelves of stores, and even large supermarket chains. And given the credit programs offered by the state, starting your business will require less money.

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Investing in real estate in Ukraine in 2023

A big crisis and a very difficult unstable situation in the country, great excitement and uncertainty about what will happen tomorrow. Ukraine is now in a very difficult situation, but despite this, and the problems that our economy is now facing, as well as the real estate market – it is quite realistic to think about buying real estate.

For an ordinary layman, all this, of course, will seem a little strange, but right now is the time when you can buy real estate in our country quite profitably, thereby increasing your funds through investments. First of all, you need to decide in which particular region of Ukraine it is best to make a purchase.

Real estate market trends in Ukraine

Throughout 2021. A fairly stable growth in construction volumes was recorded in Ukraine.

“Compared to 2020, the construction products index increased by 105.1%. Three regions became the leaders in terms of growth in construction: Ternopil, Vinnitsa and Cherkasy, — Deputy Minister of Communities and Territories Development Natalya Kozlovskaya reported on February 21. In general, the volume of construction in the previous year increased the enterprises of 13 regions.

Prices of residential real estate in the primary market during 2021 rose by 25-30%. The most expensive apartments. Which are in new buildings in Kyiv: the approximate price for 1 sq. m. at the very beginning of 2021 was equal to UAH 28 thousand, at the end of the year it had already increased to UAH 35 thousand.

At the beginning of 2022, the price went up even more – from 1.3 to 10%. All this despite the fact that due to constant reports of danger from Russia, demand has fallen sharply in the primary market. Experts explained this by the fact that this is directly related to the increase in the cost of construction.

With the advent of March 2022, the construction of new buildings, as well as real estate sales, were almost completely stopped. After the start of the full-scale military invasion of the Russian Federation, almost all developers notified investors that they would not accept payments related to the purchase of apartments for some time. Fines were completely abolished, but construction was also completely stopped.

From the first day of the war, the State Register of Rights to Real Estate did not work. Therefore, realtors were not able to formalize real estate purchase and sale transactions. They cautioned their buyers against looking for loopholes in the law, making a purchase as a will, etc., as these agreements cannot be legally enforceable.

By May, access to the registries was partially open. The exceptions were the regions in which hostilities continued. At present, the government has determined all the features of the work of notaries, as well as all the necessary restrictions during martial law. Since that moment, only single purchase transactions have been recorded.

How construction resumed in Ukraine during the war

Already in the middle of spring, construction companies resumed their work. Already in May, more than half of all construction projects that were working on February 24 were resumed in Ukraine.

The market, of course, immediately reacted with a large jump in prices, to the gradual return of construction. In May, the prices of all residential complexes in Kyiv were UAH 52.272. Per sq. m. This is 16.2% more than at the beginning of the year. By June, prices had already dropped significantly, and amounted to 46.905 UAH. +4.2% compared to January.

The state of the primary real estate market at the end of 2022

According to the data provided by LUN, in December, on the interactive map “Where housing construction was resumed in Ukraine”, it is reflected that the majority of construction sites are working in Odessa-42, in Kyiv – 85, in Khmelnitsky – 49, in Lviv – 75, and in Ivano-Frankivsk – 40.

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Even despite the low demand, prices still continue to rise rapidly compared to the pre-war period. This is most likely due to the increase in the cost of logistics, lack of labor, rising prices for building materials, changes in exchange rates, as well as new laws requiring additional costs from developers.

According to the data of the State Property Fund, in Ukraine, starting from February 24, 4.6 times less real estate was sold when compared with the corresponding period in 2021. The largest share – sale of housing.

What kind of income investors expect in 2023

Investors who invested in the earliest construction of the residential complex at the end of 2021 will receive much less profit in 2023 than expected. Here, the calculation was mainly that prices would rise by 30-35% for the total construction cycle. Even without taking into account the quality of the project, the profit level will not be higher than 20%.

In addition, the level of profit depends on the state initiative to grant the rights of buyers of real estate to investors in the primary market. It’s in entails a tax burden for investors who have not just invested funds to avoid their depreciation, but for categories of professional investors, that is, rentiers. It is this category of investors that acquired approximately 15-20% of the total number of apartments sold by developers in 2021.

Today, the largest number of investors is concentrated in the primary housing market. Investment priorities may slightly change the yield from other segments. First of all, we are talking about service apartments, which are a promising segment of development, as well as investment. At the end of 2021, the return on investment in this segment averaged 10-12% per annum, which gives a very competitive return compared to the primary housing market. This profit can also be constant, in contrast to the “primary” The return on investment reaches 7-20 years.

Which apartments to buy for investment in 2023

The best option for investment, most of all are considered to be comfort- and business-class objects, mostly apartments, which have an area of up to 60 square meters. m. Buyers are always consciously willing to pay extra for the quality of housing or additional amenities, as well as services that are available on the territory of the residential complex. This is due to the closure of most human needs: food, entertainment, shopping, training and education, and many others.

Due to the high saturation of the rental market, many people who buy an apartment to earn money mainly consider all projects in the “home-work-leisure” format. This greatly increases the value of rental housing.

Many people want to buy an apartment in a new house in order to immediately make repairs. Also this year, the request for finishing housing with the help of the developer for an additional fee will also increase.

For several years, developers have been drawing up plans for the first floors to be used for commercial real estate. In 2023, there will be even more such projects.

Investors will remain the same – Ukrainians working in the IT sector, whose income is made up of currency in dollars. In this market, there will also be those investors who have more than 20 years of experience in investing in primary real estate and this is their income. If we take a portrait of a foreign investor, then the leaders here are investors from China and Israel.


In order to fully resume the primary housing market after the victory in the war, it will take at least three years. From this we conclude that 2023 may just become the basis for positive changes in the future

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Personal finance and investment during the war

With the outbreak of the war, everyone believed that our economy would almost immediately come to an end. But the expected halving did not happen, but reached only 35%, so everything is not so bad. So if you think that making money in the war is something from the science fiction section, then we are ready to argue with you.

Look at the ground

This recommendation was provided by Sergei Fursa, Deputy Director for Securities Trading at Dragon Capital investment company.

In general, in his commentary, he was quite restrained. Fursa drew attention to the fact that cryptocurrencies have never been an asset for investment.

“And in a crisis, in principle, an important rule is Cash is the King – (from the English “Cash is the king.” – Ed.). If prices have dropped sharply, you can think about agricultural land. And look towards Eurobonds. But only if you have money abroad,” he told Finance.ua.

According to Andrey Usenko, CEO and founder of Your Kolo company, investing in land has several significant advantages over other assets:

  • The investor immediately gets ownership of the real estate – no need to wait, this is a real physical asset that you own right away;
  • land is an asset that works from the very first day of acquisition, because 95% of Ukraine’s land is cultivated by agricultural companies. You purchase a land plot that already has a lease agreement;
  • from 8% per annum – guaranteed rental income for the investor;
  • The price of land will increase by 70% in the next 3 years – according to analysts. And as the experience of other countries shows;
  • land is a reliable asset, even in the event of hostilities it is quickly returned to a state suitable for processing;
  • Agricultural business is less susceptible to crises than any other.

What you need to know about investing in land:

  • only citizens of Ukraine can purchase land;
  • maximum investment: 100 ha;
  • mandatory notarization of the transaction;
  • payment is made exclusively in non-cash form;
  • notarial verification of the source of funds is required.

Five non-obvious directions

Five areas that are now interesting for investment in the realities in which Ukraine has been living since February 24.


As strange as it may sound, given the permanent threat of rocket attacks, but the real estate market will develop, especially when it comes to the housing sector.

A significant part of the housing stock was destroyed as a result of hostilities, but the state plans to restore it – appropriate programs are being developed.

In addition, damaged infrastructure facilities will also need to be restored.

There are two types of investments here:

  • investment in the secondary market, where prices have fallen significantly compared to the pre-war period;
  • real investment in the creation of construction enterprises that will renew these objects.

Interestingly, here we can talk about the emergence, among other things, of new forms of interaction “state-private entrepreneur”, which in the post-war reconstruction will lead to the achievement of not only economic and social effects (construction of social housing), but also ensure the implementation of sustainable development goals and opportunities entry into a rather “closed” real estate market of new players.

Of course, such investments today are too risky, but this does not mean at all that there is no investor exposed to such risk.


Many logistics facilities were destroyed, but the need for them has not decreased.

Again, if we talk about the post-war reconstruction, the need for a developed logistics chain capable of providing a full cycle of a logistics (especially international) operation will constantly grow.

At the same time, the emphasis in such logistics networks should also shift from classical transport and warehouse logistics to a broader, innovative service provision.

It is clear that such logistics networks will be mainly localized in the relatively safe territories of western Ukraine.

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Alternative Energy

Installing, for example, banal solar panels on the roofs of one’s own houses can be considered not only as an opportunity to independently provide electricity or heat a house, but also as an investment with the possibility of obtaining additional profit.

If compared with investments, say, in real estate, then the rate of return / risk of this type of investment is much higher, capital costs are lower + we have personal “bonuses”.

Fintech and Medtech

For Ukraine, this is a new segment, which, at the same time, is developing quite quickly and qualitatively.

Moreover, according to some indicators, it is these segments that are far ahead of European markets.

World practice shows that they However, these segments not only did not “suffer” from the impact of the covid pandemic, but also continued to develop, remaining interesting for global investors.

Online education

Of course, this trend has intensified during the covid pandemic, and, obviously, in the context of hostilities and post-war reconstruction, it will only develop: the main thing is to understand how to choose the “right car” and how to “jump into it”.

Also interesting are investments in sustainable development and financial instruments.

But about traditional investment instruments – stocks, bonds, derivatives, indices, funds, etc. we urge you to be careful, because these markets are still very volatile and especially sensitive to changes in the international financial and investment environment.

US stock market

This, according to the financier, asset manager of 1st Family Office Vasily Matiy, is the best investment option for a long-term investor from Ukraine at the moment.

“This allows you to hedge (limit. – Ed.) currency risks associated with the national payment unit – the hryvnia, which, due to the war, has a tangible threat of devaluation, which we can already observe.

The second is investment in another jurisdiction that ensures the diversification of the investor according to this principle. It is also a liquid asset that can be sold at any time to use these funds,” he explained.

According to Matia, the current correction of the stock market in the region of 20%, on the contrary, is a good opportunity for those investors who have free funds and are thinking of starting to invest.

“The return of funds that copy the US S & P 500 index, which includes the 500 largest US companies, has been about 10% per annum over the past hundred years. For a long-term passive investor, a 20% correction is irrelevant. Indeed, thanks to volatility, that is, fluctuations in the value of assets in price, we can count on a long-term return of 10%. When there is no volatility, it is impossible to count on such profitability,” the expert noted.

However, it is necessary to immediately make a reservation that it is impossible to directly purchase foreign securities in Ukraine, because since May 10, the NBU restrictions have been in effect in the country.

“Calculations abroad for the purpose of buying securities, shares, bonds and paying for brokerage services for these operations, carried out using cards issued by Ukrainian banks, are temporarily prohibited. The corresponding changes are aimed at limiting the unproductive outflow of capital and protecting Ukraine’s international reserves,” the regulator explained his decision.

Therefore, this tool is suitable for those who have funds abroad, or risk circumventing the NBU restriction.

According to the Ministry of Finance website for investors, you can replenish your brokerage account with Freedom Finance by card transfer through Oschadbank (other banks do not carry out such operations).

Accounts with Interactive Brokers and Art Capital will be funded through Wise and Payoneer financial services.

But there is a catch here too: Wise has not issued new digital cards in Ukraine since August 12. Existing ones will work until their expiration date.


All these tips will help you, even at the beginning of the path called “investing”, become a successful investor and make money during the war.

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Name: Mykola

Surname: Siutkin

Email: siutkin@sp.agency

Phone: +380443830000

Company address: 10 Redutnaya Street, Kyiv, Ukraine

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Investing today: 5 areas where to invest and earn money during the war

It will soon be a year since the full-scale war of the Russian Federation against Ukraine continues, and the economy of our state, which has switched to a military footing, is feeling the consequences of regular attacks by the aggressor. At the same time, the authorities are actively developing mechanisms for the future recovery of the country after the victory and recreating the conditions for financial stability.

Now, against the backdrop of risks for the economic and financial spheres due to the war, the issue of investing funds and savings has become much more complicated for Ukrainians. Yes, and regarding the expediency of making investments in particular.

The situation on the investment market now

Compared to February, when companies suspended work, the flow of investments into the country decreased and fear gripped all of us, now the situation has improved significantly.

More than 80% of the cities and villages of the country are free from invaders. People continue to live more or less familiar lives. More than 40% of establishments operate from the pre-war number. Entrepreneurs from the occupied places are starting business again, but in other regions of Ukraine. New stores are opening daily, foreign companies are returning, and investors are even more interested in the post-war reconstruction of our country.

This is an indicator that the money works for the owners even during the war. But why is this important for everyone, not just large investors and business owners?

The economic crisis in the country contributes to hryvnia inflation. Recently, the dollar has skyrocketed, which leads to higher prices for foreign goods, fuel, and so on. So that your savings do not depreciate completely, you do not need to keep money in a bank account. Make them work for you and multiply.

Of course, investing is always a risk. Especially in the enterprises of the country in which there is a full-scale war.

5 areas where to invest during the war

  • IT companies

Even under martial law, more than 80% of IT companies retained almost 100% of their contracts and showed growth of 13% in three quarters. Despite all the challenges of the war, the IT industry is one of the fastest growing sectors of the Ukrainian economy.

Innovation and technology is one of the industries that investors are primarily interested in within Advantage Ukraine – an initiative to attract investment to Ukraine, which was introduced in September this year with the support of the President of Ukraine.

According to the results of three quarters of 2022, IT enterprises paid UAH 48 billion in taxes. More than half a billion dollars has been directed to support the Armed Forces of Ukraine and the humanitarian sphere. The export of computer services grew by 23% compared to the previous year. Ukrainian IT companies attracted $350 million in investments.

  • Property
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The payback of commercial real estate is two to three times higher than residential. It is possible to purchase commercial real estate even in the historical center of a Ukrainian city at a discount. So recently in Lviv there was real estate with an area of 1168 m² and at a price 3.5 times lower than before the war.

  • Franchises of grocery stores and restaurants

Even with price increases, there will never be a drop in food-related profits. Take a closer look at pastry franchises, small cafes or restaurants.

  • Shares, Cryptocurrency

Stocks have long been one of the options for passive income. The current trend is investing in cryptocurrencies and stablecoins, although stablecoins can also fall in price.

An example is the recent crash of Luna i Terra. However, they still remain one of the profitable investment options. The same can be said about cryptocurrency. Therefore, we advise you to take a closer look not only at Bitcoin, but also at Golden Ball, Ethereum, Cult DAO. Recently, they are in the top.

  • War bonds

This option is suitable for entrepreneurs with a large fortune, and ordinary citizens of all professions. By purchasing a war bond, you support our Army and receive an interest-bearing payout later.

Briefly about the main rules of investing

  1. Don’t rush to make a decision.
  2. Don’t invest money you need soon.
  3. Have a clear investment horizon.
  4. Don’t invest in one company
  5. Don’t panic


All this will help you, even at the beginning of the path called “investing”, to become a successful investor and earn money during the war.

Liked the article?

Name: Mykola

Surname: Siutkin

Email: siutkin@sp.agency

Phone: +380443830000

Company address: 10 Redutnaya Street, Kyiv, Ukraine

Send a message

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