The National Bank of Ukraine (NBU) announces the implementation of the largest package of easing foreign exchange restrictions for enterprises since the beginning of a full-scale war in order to improve the conditions for doing business in Ukraine and the entry of domestic businesses into new markets, as well as supporting economic recovery and facilitating the influx of new investments to country.
“Firstly, all currency restrictions for the import of works and services are abolished. Secondly, the ability of businesses to repatriate ‘new’ dividends is ensured. Thirdly, the opportunity is provided to transfer funds abroad through leasing/rental,” the NBU said in the press release on Friday evening.
“Fourth, restrictions on the repayment of new external loans are being relaxed. Fifth, the opportunity has been given to repay interest on ‘old’ external loans. Sixth, restrictions on the transfer of foreign currency from representative offices in favor of their parent companies are being relaxed,” the regulator said.
It is clarified that these and a number of other technical changes were made by NBU’s resolution No. 56 of May 3, 2024 to the so-called “military” resolution No. 18 of February 24, 2022. The vast majority of the provisions of the document come into force on May 4, 2024, and only regarding the repatriation of new dividends – from May 13, 2024.
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