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Blickpunkt Osteuropa

Ukraine Update: Ukraine’s Parliament adopts new law “On Currency and Currency Operations”


On 21 June 2018 the Ukrainian Parliament adopted a law “On currency and currency operations” (the “Law”)  *designed to ease the existing currency control regulations in Ukraine.

Unlike the previous legislation, this Law establishes a new rule “anything that is not explicitly prohibited is permitted”.

Among the most recognisable changes introduced by the Law are the following:

abolishment of the requirement to obtain a license for investing abroad for individuals and legal entities;

it is no longer required to register loans provided by non-residents with the Nationalbank of Ukraine;

no maximum term for settlement of liabilities under foreign trade operations, etc.

The Law takes effects even months after its signing by the President of Ukraine and its official publication.

*Law “On Currency and Currency Operations” No.8152 dated 19 March 2018

 

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