Limit on repatriation of dividends has been abolished
Tax & Legal Alert
10 July 2019
Limit on repatriation of dividends is cancelled starting from 10.07.2019.
The National Bank of Ukraine (“NBU”) abolished the limit on repatriation of dividends for foreign investors/non-residents. This change comes into force on 10 July 2019.
The abovementioned amendments were approved by the Resolution of the Board of the NBU No. 91 dated 9 July 2019 “On Amends to Certain Legislative Acts of the National Bank of Ukraine”.
Due to cancellation of the limit on repatriation of dividends, the companies with foreign capital are no longer limited to transfer dividends abroad or to non-resident accounts opened in Ukraine in the amount of up to EUR 12 million per month for one legal entity.
Thus, the NBU continues to gradually abolish existing currency restrictions. The ultimate goal of these measures is to ensure the free movement of capital.
We will be happy to provide you with advisory support on all issues you may have in relation to the aforementioned legislative changes.