Limit on repatriation of funds from sale of securities and corporate rights has been abolished
Tax & Legal Alert
12 September 2019
Limit on repatriation of funds from sale of securities and corporate rights was cancelled starting from 10.09.2019.
The National Bank of Ukraine (“NBU”) abolished a monthly limit of EUR 5 mln for repatriation of funds from sale of securities, corporate rights, as well as funds obtained as a result of legal entities’ authorized capital decrease, withdrawal from companies by foreign investors. This change came into force on September 10, 2019.
The abovementioned amendments were approved by the Resolution of the Board of the NBU No. 113 dated September 09, 2019 “On Approval of Amendments to the Regulation on Safeguards and Procedures for Certain FX Transactions”.
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.