Flash Report # 62: The NBU cancelled certain restrictions for currency operations

PwC, Kyiv, Ukraine, 
Mon, Nov 3, 2014

Published by U.S.-Ukraine Business Council (USUBC)
Wash, D.C.,Mon, Nov 3, 2014

On 30 October 2014 the NBU issueda Resolution*, which cancelled the temporary ban on transfer of foreigncurrency under the following transactions:

• Payments under import transactions exceeding 180 calendar days upon customclearance of goods.
• Settlements under import transactions without entry of goods into Ukraine(i.e. cancelling the limitation, pursuant to which banks recently refusedpayments under service agreements and other transactions without entry of goodsinto Ukraine).

However, the threshold for service payments to non-residents, which requireprice expertise of the Foreign Markets Monitoring Centre, was decreased fromEUR 100,000 to EUR 50,000 per year.

These changes are effective 3 November 2014.

We will keep you updated on further developments.

*Resolution of the NBU No. 685  dated 30  October 2014 

 
Contacts:

Ron Barden,Partner & TLS Leader, ron.j.barden@ua.pwc.com
Rob Shantz, Head of Legal Services, rob.shantz@ua.pwc.com
Andrey Pronchenko, Legal Director, andrey.pronchenko@ua.pwc.com
AlexeyKatasonov,Senior Attorney, alexey.katasonov@ua.pwc.com

75 Zhylyanska Street| Kyiv | Tel:  +380 44 354 0404 | Fax: +380 44 354 0790| pwc.ukraine@ua.pwc.com  |  www.pwc.com/ua 

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