On 8 June 2017 the National Bank of Ukraine (further – the “NBU”) issued a resolution* that changes conditions for investing abroad by Ukrainian legal entities, in particular:
- The amount of permitted investments abroad covered by a single individual license is now increased to the equivalent of USD 2 million per year (previously it was set at USD 50,000 per month);
- Different requirements will apply to obtaining an individual license. These requirements will be based on the amount of the investment, namely:
- for investments under USD 50,000 per year simplified requirements will apply (shorter list of documents);
- for investments in the amount exceeding USD 50,000 per year -stricter requirements will apply (expanded list of documents, including documents evidencing the economic purpose of the transaction, sources of the funds, information on the ultimate beneficial owners, etc.).
The new rules came into force on 12 June 2017.
We will continue to monitor the developments and keep you updated on the issue.
* NBU Resolution No. 51 dated 8 June 2017.
Camiel van der Meij, Partner & TLS Leader, firstname.lastname@example.org
Andrey Pronchenko, Partner, Tax and Legal Services, email@example.com
Alexey Katasonov, Director, Tax and Legal Services, firstname.lastname@example.org
75 Zhylyanska Street | Kyiv | Tel: +380 44 354 0404 | Fax: +380 44 354 0790 | email@example.com | www.pwc.com/ua
This flash report is produced by PricewaterhouseCoopers’ tax and legal services department. The material contained in this alert is provided for general information purposes only and does not contain a comprehensive analysis of each item described. Before taking (or not taking) any action, readers should seek professional advice specific to their situation. No liability is accepted for acts or omissions taken in reliance upon the contents of this alert.
© 2017 Limited liability company «PricewaterhouseCoopers». All rights reserved. PwC refers to the Ukrainian member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.
We will be sending additional Flash reports as issues arise. If you do not wish to receive these Reports, please advise by return e-mail (firstname.lastname@example.org). Alternatively, if there is someone else in your company to whom we should send our Alerts, please let us know.
We are pleased to inform that this Flash report is also available in Ukrainian and can be sent to you upon request.
Ми раді повідомити, що цей Flash report також доступний українською мовою і може бути наданий Вам за запитом.