The Verkhovna Rada adopted a law that will simplify currency regulation

2018-05-18 12:15:27
Machine translation
The Verkhovna Rada adopted a law that will simplify currency regulation

the President's Proposed "Law on currency" was supported by 253 people's deputies.

 

the Adopted Law cancels control more than 40% of currency transactions, certain foreign exchange restrictions, the registration of loans from non-resident entities and licensing of foreign investments.

 

To purchase or transfer currency in the amount equivalent to 150 thousand UAH, abolished exchange controls.

For investments outside of Ukraine do not need a license of the NBU, which previously were required to provide a large number of documents and a long time to wait for the decision.

the Maximum term of carrying out of calculations on export-import operations will continue for more than 180 days. When you purchase currency or sale of foreign exchange earnings will not need to be tied to a specific contract.

For exporters and importers penalties for certain violations of foreign exchange regulation will be weakened.

obtained foreign loans will not have to register with the national Bank.

  • Businesses and individuals will now have to conduct foreign exchange operations without waiting for the permission of the national Bank.

 

Despite market liberalization, the NBU reserves control over and may establish certain limitations in case of risks on currency market. The regulator and banks will be allowed when conducting foreign exchange transactions to require businesses or individuals, the documents, and Bank and DFS will monitor compliance with the currency legislation.