The NBU simplified the export of currency abroad

The NBU simplified the export of currency abroad

© National Bank of Ukraine

Money

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The new conditions come into force today

The national Bank improved the procedure of licensing of currency operations for banks, people and businesses.

The corresponding solution is fixed by resolution of the NBU Board, which came into force on April 28, the press service of the regulator.

First, the national Bank has simplified the procedure of issuing e-licenses for individuals currency transactions.

So, in the list of documents required for obtaining such licenses is added the possibility of filing on confirmation of source of funds documents relating to the results of the business activities or the sale of movable and/or immovable property.

Recall, a person may obtain an e-license, regardless of whether it is an entrepreneur or not, if the purpose of obtaining a license are operations that are not associated with entrepreneurial activity.

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Also normalized the possibility of obtaining electronic licenses at the expense of the common joint property of spouses. One of the spouses can prove the origin of funds to take into account the income of the spouse if these revenues relate to their joint ownership.

Second, banks are allowed to carry out operations on placement abroad of currency values without individual licenses on any of its own accounts, and not only on the correspondent, as it was before.

Thirdly, the National Bank established exception to the General monitoring of compliance with maximum interest rates on external loans/loans in foreign currency.

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The exception relates to funds raised by resident borrowers from non-residents for credit projects implemented with the participation (in the form of collateral, insurance, guarantee) of a foreign state, by analogy with the exception that already applies to credit projects involving export credit agencies.

In addition, the national Bank clarified the list of documents required to obtain individual licenses on placement by legal persons or individual entrepreneurs of means on accounts outside of Ukraine.

The list was supplemented with documents that contain information about accounts opened by residents in authorised banks and their ownership structure and the ultimate beneficiary owners.

“Such steps will help to improve the procedure for issuing individual currency license, and access by residents to foreign credit resources”, – noted in the NBU.

Recall, the national Bank introduced a results Ukrainians currency of licenses in electronic form in July 2017.

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