Ukrainians will soften the requirements for the transfer of foreign currency abroad

Украинцам смягчат требования к переводу валюты за границу

NBU plans to facilitate the Ukrainians a number of restrictions on money transfers abroad and investment in foreign financial markets.

The national Bank of Ukraine published the draft regulations which it is planned to simplify a number of restrictions on transfers of funds abroad and investment in foreign financial markets. These regulations should ensure the implementation of the law On currency liberalization, it said on Thursday, 8 November, the press service of the NBU.

In particular, the proposed new currency regulation contains deregulation of investment abroad. That is the business and population, which is now forced to get licenses for investment abroad, will be able during a transition period to implement them in the framework of the electronic limit, which does not require obtaining any permits and, subsequently, without any restrictions.

Another proposed innovation – facilitate cross-border operations of the population with currency. In particular, the place of exchange controls when making payments abroad is ex-post supervision of foreign exchange transactions. Transactions amounting to UAH 150 thousand do not require documentary support, and oversight of operations in excess of this amount will be simplified.

 

 

Individuals increased the limit for transfers abroad without account opening and documents – from 15 thousand UAH to the amount that is determined by the scfm (currently UAH 150 thousand), and for operations using payment cards in General this limit will be cancelled.

In addition, against mail individuals, instead of the current limit of 300 euros, will operate the General rules of moving through customs border, which are now set a limit of 10 thousand euros.

Besides, the national Bank plans to expand the list of currency transactions available to customers of banks and simplify the procedure of purchase of currency on interbank market to Bank customers and to enhance opportunities to conduct operations with precious metals.

Earlier it was reported that the volume of private money transfers to Ukraine from abroad in the second quarter of 2018 amounted to 2,819 billion. It’s 24% more than in the same period last year – 2,262 billion.

In addition, over the seven months of this year, labour migrants transferred to Ukraine $ 6.3 billion of.

News from the Reporter.net Telegram. Subscribe to our channel https://t.me/korrespondentnet

Source