The National Bank of Ukraine has allowed businesses to invest abroad up to $2 million in equivalent on the basis of one currency license for one calendar year, whereas up to now the total amount of such transactions was $50,000 for one calendar month.

According to the regulator, relevant resolution No. 51 dated June 8 will come into force on June 12.

It also differentiates requirements for obtaining licenses depending on the amount of investment abroad, investment of up to $50,000 will be subject to simplified requirements for the list of documents for obtaining a license.

The NBU said in addition to an application it will be sufficient to provide several other documents depending on the type of investment and the type of investor (an agreement on implementation of investment, documents on the registration of an investment object, etc.).

At the same time, investments exceeding $50,000 will require an expanded list of documents that will help the NBU prevent the use of currency licenses for capital outflow. In particular, residents must additionally confirm the economic meaning of the operation, the availability of transparent funding sources and provide detailed information about the ultimate beneficial owners of investment operation subjects.