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


Contacts:

Camiel van der Meij, Partner & TLS Leader, camiel.van.der.meij@ua.pwc.com
Andrey Pronchenko, Director of Tax and Legal Services, andrey.pronchenko@ua.pwc.com
Alexey Katasonov, Senior Attorney, alexey.katasonov@ua.pwc.com

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