13:55 28.07.2015

NBU relaxes issue of currency licenses to individuals

2 min read
NBU relaxes issue of currency licenses to individuals

The National Bank of Ukraine (NBU) has liberalized the issue of licenses to carry out some currency transactions to individuals.

The central bank said on its website that if individuals-residents opened a bank account when staying abroad and placed currency values on it, they are obliged to receive the relevant currency license after returning home no later than 24 months from the date of returning to Ukraine if individuals-residents stayed abroad more than 183 days in a row or no later than two months from the date of returning home if individuals-residents stayed abroad less than 183 days in a row.

In addition, if individuals changed their status from nonresident to resident, they are obliged to receive the currency licenses within 24 months from the moment of changing the status.

The term of the license is increased from one year to three years (for individuals who are not businesspeople).

"The civilized conditions for Ukrainians working abroad are being created. The real terms for extending and receiving the currency licenses have been defined. In the future, funds earned by individuals abroad could be returned to Ukraine without any obstacles. The other aspect is assistance to remigration in Ukraine and attraction of talented, successful specialists and managers of the global level to work and permanent living in our country," the press service said, citing Deputy NBU Governor Oleh Churiy.

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