The National Bank of Ukraine gradually eases currency control restrictions
PwC, Kyiv, Ukraine
Thu,May 12, 2016
The NBU has recently eased a number of currency control restrictions. In particular, mandatory sale of 75% of foreign currency proceeds no longer applies to the following transactions:
- Making foreign investments into Ukraine*;
- provision of a loan to a Ukrainian resident by a non-resident bank via settlement of trade payables of such resident with another non-resident (i.e. without sending the funds to Ukraine)**.
In addition, the NBU has issued a letter, according to which it plans to lift the current ban on payment of dividends to non-Ukrainian bank accounts of foreign recipients***.
We will continue to monitor the situation and keep you updated on the issue.
* NBU Resolution No. 308 dated 5 May 2016
**NBU Resolution No. 290 dated 26 April 2016
*** NBU Letter No. 25-0005/36769 dated 25 April 2016
Camiel van der Meij, Partner & TLS Leader, firstname.lastname@example.org
Andrey Pronchenko, Director of Tax and Legal Services, email@example.com
Alexey Katasonov, Senior Attorney, firstname.lastname@example.org
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