Key regulatory developments in Ukraine

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EU Banking and Finance Regulatory Newsletter - February 2019
Key regulatory developments in Ukraine

Key regulatory developments in Ukraine

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February 28, 2019

Source/Date	Brief description
The National Bank of Ukraine 06/02/2019	In the course of implementation of the Law of Ukraine “On Currency and Currency Transactions,” the National Bank of Ukraine (the NBU) further liberalizes currency control rules, in particular" Mandatory sale requirement of FX proceeds will be revised from 50 percent to 30 percent starting from March 1, 2019; Repatriation of FX dividends for 2018 will be allowed; Prior reservation of UAH for the purposes of buying foreign currency is no longer required (T+1 rule is cancelled); Individuals will be able to buy foreign currency online 24/7 (within a limit of UAH 150,000 per day).
The National Bank of Ukraine 01/02/2019	The NBU established procedure for postal operators to obtain a license for making transfers of national currency (UAH) without opening accounts.
The National Bank of Ukraine 30/01/2019	The NBU enhanced the scope of using escrow accounts opened with Ukrainian banks, clarifying that such accounts may be used for purchasing/selling real estate.

Source/Date

Brief description

The National Bank of Ukraine

06/02/2019

In the course of implementation of the Law of Ukraine “On Currency and Currency Transactions,” the National Bank of Ukraine (the NBU) further liberalizes currency control rules, in particular"

Mandatory sale requirement of FX proceeds will be revised from 50 percent to 30 percent starting from March 1, 2019;
Repatriation of FX dividends for 2018 will be allowed;
Prior reservation of UAH for the purposes of buying foreign currency is no longer required (T+1 rule is cancelled);
Individuals will be able to buy foreign currency online 24/7 (within a limit of UAH 150,000 per day).

The National Bank of Ukraine

01/02/2019

The NBU established procedure for postal operators to obtain a license for making transfers of national currency (UAH) without opening accounts.

The National Bank of Ukraine

30/01/2019

The NBU enhanced the scope of using escrow accounts opened with Ukrainian banks, clarifying that such accounts may be used for purchasing/selling real estate.