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The National Bank of Ukraine has simplified the procedure for the return of investments from Ukraine.

The National Bank of Ukraine has simplified the procedure for the return of investments from Ukraine.

Posted in News.

The National Bank of Ukraine has simplified the procedure for the return of foreign investment in Ukraine, allowing the investor to return the investment deposit does not apply to the bank statement (certificate) on the actual receipt of currency in the Ukraine or the documents confirming the formation of the investment deposit at the expense of reinvestment.
This was reported on the website of the NBU, with reference to the decision №331, which comes into force on 25 May.
According to the document, the controller also has simplified the procedure for issuing permits to conduct foreign exchange transactions.
So, for the currency transaction customers will not be able to submit to the banks documents available in the public domain, including an extract from the Unified State Register and a copy of the certificate of the subject assessment activities issued by the State Property Fund.
Also, customers will not be able to provide translation for SWIFT messages and documents, the text of which is set out at the same time foreign and Ukrainian (Russian) language.
In addition, the Bank offers, the National Bank has simplified the foreign exchange operations of credit agreements concluded with residents of the international financial institutions. From now on, banks will not apply additional risk control measures for activities under such contracts transactions.
As previously reported, the National Bank of Ukraine continued gradual liberalization of temporary anti-crisis restrictions on the foreign exchange market, introduced in 2014-2015, including from 11 May released from compulsory sale of currency for incoming foreign investments in Ukraine. Also, the regulator has reduced by one day booking period authorized banks hryvnia funds for the purchase of currency on behalf of customers, and now the purchase of currency will be available on the third working day (mode “T + 2”).
The regulator has announced a further easing of administrative restrictions on the foreign exchange market after the resumption of cooperation with the International Monetary Fund. In particular, it announced plans to lift the ban on repatriation of dividends on the results of evaluation of their volumes.

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