National Bank of Ukraine is on the way of realization the strategy of liberalization of capital moving in Ukraine. One part of liberalization will come into legal force from February 07, 2019. Foreign entities will be able to open bank account in Ukraine.
Bank account for foreigners in Ukraine can be opened by entities and individuals starting from February 07, 2019. Non-resident won’t have any restrictions on operations with their bank account.
Such action by National Bank of Ukraine is focused on growing investment attractiveness of Ukraine. It will be easier for non-residents to accumulate money in Ukraine and invest it in business; also, it will be easier to set up local company, collect payments or pay to contractors.
Also, there are a lot of new regulation:
- canceled individual license for currency operations;
- canceled registration for foreign debt obligations;
- canceled optional prepayment for foreign debt obligations;
- allowed drain on foreign exchange reserves for entities;
- increase term for export-import payment till 365 days.
For further details please contact J&L Consulting and get proper legal advice.