Lvov was founded by Danylo Romanovych, the prince of Halychyna and Volyn, who named the city after his son Lev. First printed records about Lvov are from 1256, although archaeological excavation revealed that the first settlements appeared in the 5th century. Lvov is located on the hills of beautiful Roztocze Upland. The region territory is cut with a dense river system that forms the main European Black Sea - Baltic sea watershed. The city is located in the eastern foothills of the Carpathian mountains. Close to it there are some famous tourist and medical resorts: Truskawiec, Schidnyca, Morszczyn, Niemirów.

The favourable location of Lvov makes it the most significant trade and communication centre in the western Ukraine.
There are more than 200 large industry companies having different forms of property. The basic industry branches in Lvov are: food, light, machines building, tools, chemical, pharmaceutical, fuel, timber and manufacturing industry. In Lvov the most attracted for investors are branches, which guarantees achieving a quick return of invested money: food, manufacturing for farms industry, wholesale trade and mediation, financial, insurance services. In the Ukraine there are very well known many Lvov entreprises like for example: "Switocz" - Lvov Factory of Sweets Joint-stock Company, "Gałka" - Coffee Company, "Gałyczfarm" Joint-stock Company, "Iskra" Joint-stock Company and others. There are more than 200 large industry companies having different forms of property. The basic industry branches in Lvov are: food, light, machines building, tools, chemical, pharmaceutical, fuel, timber and manufacturing industry. In Lvov the most attracted for investors are branches, which guarantees achieving a quick return of invested money: food, manufacturing for farms industry, wholesale trade and mediation, financial, insurance services. In the Ukraine there are very well known many Lvov entreprises like for example: "Switocz" - Lvov Factory of Sweets Joint-stock Company, "Gałka" - Coffee Company, "Gałyczfarm" Joint-stock Company, "Iskra" Joint-stock Company and others. There are more than 200 large industry companies having different forms of property. The basic industry branches in Lvov are: food, light, machines building, tools, chemical, pharmaceutical, fuel, timber and manufacturing industry. In Lvov the most attracted for investors are branches, which guarantees achieving a quick return of invested money: food, manufacturing for farms industry, wholesale trade and mediation, financial, insurance services. In the Ukraine there are very well known many Lvov entreprises like for example: "Switocz" - Lvov Factory of Sweets Joint-stock Company, "Gałka" - Coffee Company, "Gałyczfarm" Joint-stock Company, "Iskra" Joint-stock Company and others.

Lvov city is an administrative centre of Lvov oblast. In the West, the region has a common 278.2km long border with Poland and simultaneously with European Union. From the North to the South, the Oblast has common border with following Ukrainian Oblasts: Wołynski, Riwenski, Ternopilski, Iwano-Frankiwski i Zakarpacki. The Lvov Oblast is the member of "Bug" and "Carpathian" Euroregions. - which also cover Ukrainian, Polish, Slovakian, Hungarian and Romanian Oblasts.

There are 8 international transitions for passengers and lorry traffic:
rail: Rawa Ruska, Mostyska-2, Chyrów
road: Rawa Ruska, Krakowiec, Szegini, Smilnyca
airport: Lvov

The railway lines are going through the Lvov Oblast and lead to many European cities and countries: Warszawa, Wroclaw, Berlin, Belgrad, Budapeszt, Bratyslawa, Bukareszt, Praga, Sofia, Moskwa, Sankt-Peterzburg, Minsk, Wilno, Ryga.

The Lvov Oblast territory is also the place for two international transport ways:
A3 : Berlin-Drezno-Katowice-Lwow-Krasne-Ternopil-Żmerynka-Kijow.
A5 Triest-Ljublana-Budapeszt-Bratysława-Uzgorod-Lwow.

Thanks to the Lvov airport passengers can travel not only through the Ukraine but also to most countries of the world. 40 km from Lvov there is also located the Stryjski airport which serve cargo flights.

In the Lvov Oblast there is very well developed marketing business infrastructure. There operate about 86 different bank institutions, 13 investment funds and societies, 92 consulting - advisory companies, 6 stock exchanges, 70 auditors societies, 8 insurance institutions, 48 credit companies, 2 leasing institutions. There are also very active business centres, entrepreneurship incubators, development agencies and consultancy companies, which basic business profile is foreign investors serving. Some of them are mentioned below:
- Western Ukrainian Management Consulting (www.wumc.lviv.ua)- reorganization and business development, expenses and activity managing, marketing research, planning, business law protection.
- Lvov Consulting Group (www. lvivconsult.com) - business assessment, financial strategy, looking for well qualified labour and managing force, training programs, financial analyze, budget and financial managing, companies asset evaluation according to international standards, investment strategies preparing, looking for and leading negotiations, marketing services.
- Lvov Municipal Social Organization, "Ekspert-Grupa" Consultants Company (tel/fax +38 (032) 240 34 40, 298 64 51) - companies cooperation, image creation, creating internal cooperation standards, strategies for innovation and investment projects, marketing and sociological researches, preparing marketing campaigns, financial analyses of the companies situation, business plans and financial settlements.
- Lvov Chamber of Commerce (www.lcci.com.ua) - seminars and other forms of professional trainings in the Ukraine and abroad, organizing economical forums as a support for contacts with potential business partners, meetings, conferences, presentations, business meetings, economical missions organizing, consultations relating to possibilities of running business activity, assistance in the process of agreements preparing.
- Business Support Centre " NiuBiznet" (www.bsc.lviv.ua) - trainings, marketing consulting, "running" investments (searching investment objects, preparing investment projects and giving help in implementing them into realization), informative technologies in business, staff employing, accountancy services.
- Foreign Investment and Small and Medium Business Development Centre (structure which subject to "Ukraine Credit Bank"- www.kredytbank.com.ua) - analyze and practical help for potential investors and business partners in highlighting investments and financial attractiveness of bank's clients, consultations in the field of small and medium business, investments introduction and financial consulting, spreading information relating to investment and financial attractiveness of clients among potential investors and business partners, seminars-trainings relating to investments implementing and small and medium business development, creating and running the base of information relating to investment projects, business plans, small and medium business subjects.

The most popular law-organization forms of leading a business by foreign investors are: - private enterprise, which belong only to investors, - branch office, sister company or division of the foreign enterprise in the Ukraine, - agreement relating to common activity (including Ukrainian enterprises of foreign capital in the aim to prepare particular projects), - Joint-stock Company shares buyout by a foreign investor, - limited liability company with a part share in the company's statute capital.

Investment attractiveness of Lvov Oblast mainly relies on:
- large capacity of potential market,
- strategic, attractive location,
- developed communication and transport infrastructure,
- developed industry.

When the investment equals not less than 10% of the company's statute capital, the company is found as the company with foreign capital. There are no special rules relating to minimal and maximal value of foreign capital in the investment.

According to the Ukrainian law, foreign investors, who are carrying in their shares in the form of material assets, are not being taxed by the Value Added Tax (VAT) and by the import duty.
If goods, which are sold, are taxed with the excise tax, the rules of Value Added Tax and import duty relief isn't valid.

Guarantees for foreign investors:
- state guarantees protecting foreign investors in the case of law changing relating to the foreign investments,
- Guarantees in the case of activities not accorded with the law and decisions undertaken by the authorities and managing staff of these institutions,
- Compensations and indemnities for loses, bear by foreign investors,
- Guarantees in the case of holding up investment activity,
- Guarantees of transfer and usage of profits coming from foreign investments.

In the case of holding up investment activity by the investor, he is allowed to start his activity again, but not longer than 6 months after the time, he has held up his activity, in the material form or by investing money - currency (in this case there is taken under consideration the possibility of lowering the statute fund) without paying duty and profits of these investments in the monetary or material form evaluated valuated at the moment of holding up investment activity and according to the real market value.In the case of holding up investment activity by the investor, he is allowed to start his activity again, but not longer than 6 months after the time, he has held up his activity, in the material form or by investing money - currency (in this case there is taken under consideration the possibility of lowering the statute fund) without paying duty and profits of these investments in the monetary or material form evaluated valuated at the moment of holding up investment activity and according to the real market value.
Ukraine has signed agreements concerning avoiding double taxation with following countries: Austria, Belgium, India, Spain, Italy, Cyprus, Malaysia, United States of America, Finland, France, Czech Republic, Switzerland, Japan, Great Britain, Poland, Switzerland, Canada, Germany, Norway, Denmark, Holland, Slovakia, Hungary, Belarus, Moldavia, Latvia, Estonia, Armenia, Kazakhstan, Bulgaria, Romania, Lithuania, Uzbekistan, Turkey, Korea, Libya, Cuba, China, Luxemburg, Portugal, United Arab Emirates.

Activities undertaken in the frames of regional policy are directed to attracting investments in the Lvov Oblast:
- Organizing International Economical Forum, in the frames of which there take place presentations of different investments projects and are spread information relating to areas, plots designed for sale or renting.
- Marketing products concerning the investment potential of the Lvov Region for foreign investors. The aim of these products is to gain foreign investors for the region.("Lwowszczyzna Inwestycyjna", "Profil Inwestycyjny Obwodu Lwowskiego", "Inwestujcie na LwowszczyŸnie")
- Organizing foreign economic missions in the Ukraine just as Ukrainian missions abroad;
- Creating a special portal for foreign investors: www.invest.lviv.ua On the sites of the portal you can find the following information: offers for foreign investors eager to invest in the Lvov region description of investment projects in the region legal rules about running economic activity in the Ukraine information on business environment in the Lvov region
- A special arbitrational commission dealing with resolving arguments between foreign investors and the authorities of the region or state;
- A commission for rational deployment and development of production power and foreign investment program realization;

The Lvov region is one of the most attractive Ukrainian tourist centers (one of the five ones in the Ukraine). The reason for such a high status are a historical and cultural heritage of the Lvov region just as the abundance of recreation opportunities;
In the region there are 4000 remains of the 18th-20th century architecture that is 25 % of all historic buildings in the Ukraine. The castles of the Lvov region are very popular among tourist. The most popular castles are the ones in Olesko and Podhorce. They are parts of the most popular tourist route in the region-"The Golden Horseshoe of the Lvov Region".
The region is very affluent in unique sources of mineral water (over 200 sources) and medicinal mud. On the basis of these resources a number of well-known health resorts have been created in Truskawiec, Morszyn, Szklo, Niemirow and Wielki Lubin. Today in the region there are 133 health resorts curing their visitors of various ailments.
Agritourism is more and more popular. In the Lvov Region there are over 300 agritourism farms. They are situated in the most beautiful parts of the region: Turka, Zolkwia and the area around the village of Skola. Such resorts like Truskawiec, Morszyn, Schidnyca are very popular among tourists, just as places offering skiing opportunities like Slawsko, Tysowiec and Rozanka.
The Lvov Region has a significant potential of ski and mountain tourism development. In the borders of the region there are 4 ski tourist resorts: Slawsko and Tysowiec (the Skoliwski area) and Pozlucz and Turka (the Turkiwski area).The Lvov Region has a significant potential of ski and mountain tourism development. In the borders of the region there are 4 ski tourist resorts: Slawsko and Tysowiec (the Skoliwski area) and Pozlucz and Turka (the Turkiwski area).
The past and present of the country and region can be admired in many museums containing 1.5 million items (19% of Ukrainian museum collections).
Visiting theatres of Lvov you can be amazed by their diversity. In the autumn the city turns into one large stage-it is the time of the Golden Lion Theatre Festival. Theatres and theatre groups from many countries are invited to take place in the festival so there is an opportunity to see theatres and theatre groups from Belgium, Poland, The Netherlands, Brazil, Hungary, Germany, The United States and England.
Old traditions concerning literature are still vivid in the Lvov Region. Modern writers can present their works to the public. There are also presentations of single books. Every year the Editors Forum is held, gathering representatives of both Ukrainian and foreign publishing houses.



Information from the following sites has been used in this text:
- www.dynasty.lviv.ua
- www.bsc.lviv.ua
- www.loda.gov.ua
- www.stat.lviv.ua


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