The NBU has adopted rules for foreign currency remittance abroad by individuals - both residents and non-residents. According to the rules a non-resident can transfer foreign currency derived from his/her investment activity in Ukraine or when leaving Ukraine for a permanent residence abroad provided he/she submits to the remitting bank a written proof of the money's origin after payment of the applicable taxes.
A Ukrainian resident can transfer foreign currency abroad as payment for goods, medical treatment, studies, etc. after receipt of an individual licence from a regional department of the NBU where the sum of payment is up to US $25,000. Amounts in excess of US$ 25,000 require a licence from the NBU head office. (Resolution of the National Bank No245 dated 23 September 96)
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
For further information contact Andy Kusytsch on +(380) 44 244 5478/9 or enter a text search 'Coopers & Lybrand' and 'Business Monitor'.