Ukraine: Central Bank Approves Amendments to Ease Foreign Exchange Controls

The National Bank of Ukraine (NBU) has announced that it is going to make it easier for banks and their customers to carry out transactions involving currency valuables and that it will begin to issue electronic licences for FX transactions.

According to the NBU, individuals (except for individual entrepreneurs) will be able to obtain electronic licences (e-licences) for FX transfers abroad through authorised banks. An e-licence will enable an individual to transfer foreign currency abroad up to the equivalent of $50,000 per calendar year.

E-licences will also allow individuals to transfer foreign currency abroad through three types of FX transactions:

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