The NBU has completely abolished the limit on repatriation of dividends

Legal Alert, July, 2019

LA_Antika_06.2019

The NBU has completely abolished the limit on repatriation of dividends

Since July 10, 2019 the Resolution of the Board of the National Bank of Ukraine dated 09.07.2019 No. 91 «On Amendments to Some Regulatory Documents of the National Bank of Ukraine» has entered into force. By such Resolution the regulatory institution finally abolished the limit on repatriation of dividends.

Hereafter business with foreign capital is no longer subject to the limit on transferring dividends abroad or to nonresident accounts in Ukraine.

According to the National Bank, such a relaxation of currency restrictions would not have negative consequences for macro-financial stability, since repatriation of dividends generally does not have a significant impact on the market, because the purchase of currency for these purposes is about 4% of the total demand of banks’ customers for foreign currency.

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This Legal Alert is intended as a general overview of latest changes in legislation of Ukraine and does not constitute a legal advice.

For further information please contact Antika Law Firm:

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Kyiv, 01001, Ukraine

tel./fax: +38 044 390 09 20/21

office@antikalaw.com.ua

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