The National Bank of Ukraine (NBU) continues liberalization of limitations on export and import transactions introduced to stabilize the situation in Ukraine's monetary and currency markets.
In particular, NBU enacted new Resolution No. 511 that provides for the following major changes with respect to investments abroad:
The maximum amount of investments abroad under one license is increased to US$2,000,000 per calendar year; previously, the amount was limited to US$50,000 per calendar month
To obtain a license for investments abroad, two different procedures are introduced depending on the investment amount:
Simplified procedure for investments not exceeding US$50,000 per calendar year. Applicants provide just a small number of documents (application, agreement, registration documents, and some other similar documents). Such a procedure also enables individuals to obtain e-license through their servicing banks.
Standard procedure for investments exceeding US$50,000 per calendar year. Applicants provide a larger number of documents, including the ones on their financial standing, income sources for respective transactions, ultimate beneficial owners, etc.
The changes indicated above came into force on 12 June 2017.