The national Bank of Ukraine (NBU) has continued to simplify the life of foreign exchange market. So, the next crisis easing restrictions for legal entities implementing investment abroad, the press service of the NBU.
Businesses have the opportunity to invest abroad up to $ 2 million. equivalent based on the currency of the licence for one calendar year. Still limit the total amount of these operations amounted to 50 thousand dollars. in one calendar month.
National Bank has also established different requirements for licenses depending on the amount of investment abroad. If the size of investment less than 50 thousand dollars., it will act simplified requirements to the list of documents for obtaining a license. In addition to the statements, will be sufficient to provide several other documents depending on the type of investment and type of investor (agreement on the implementation of investment documents for registration of the object of investment and so on .d.).
At the same time, for investment in the sum more than 50 thousand dollars. enter a detailed list of documents that will help the National Bank to prevent the use of foreign exchange licenses for the outflow of capital “schemes”: the resident shall additionally confirm the economic meaning of transactions, the availability of transparent sources of funds for its implementation, to provide detailed information on the ultimate beneficial owners of entities for investment operations and the like.
“Such steps will improve the terms of reference of legal entities of foreign economic activity, and, along with that will facilitate economically unjustified operations of withdrawal of funds outside Ukraine,” according to the NBU.
These changes were approved by resolution of the Board No. 51 of 8 June 2017 “On amendments in some regulatory legal acts of the National Bank of Ukraine”. They take effect from 12 June 2017.
