Ukraine is not able to engage in the practice of its
citizens holding multiple passports, President Volodymyr Zelensky stated on
Sept. 2. Russian actions in Crimea and Donbas, namely forced passportization,
make it impossible for the Ukrainian government to legislate the ability to
hold multiple passports, interfax.com.ua reported on Sept.
3. Russia has handed out over 600,000 passports in Ukrainian territories, he
noted. Though he personally prefers that Ukrainians be allowed to have multiple
passports, lawmakers need to create a new tailored set of laws that fit the
situation.
James Hydzik: Zelensky’s return from his working trip to the U.S. coincides with the
opening of Ukraine’s political season, and changes to passport laws will be
only one item on his agenda. However, it’s not just an issue for high net worth
investors. The topic resonates with Ukraine’s skilled workers and intellectual
property creators – especially in IT and aerospace – who have at times needed
to relinquish their Ukrainian passports. These people are directly connected to
Zelensky’s effort in California and also represent a talent pool that energizes
Ukraine’s high-tech environment (and thus its tax base).