NBU permits repatriation of dividends for 2014-2015

10:01, 09.06.2016 1 min read

The National Bank of Ukraine (NBU) with the purpose of improving investment climate has permitted repatriation of dividends accrued to foreign investors for 2014-2015, the regulator has said on its website.

The decision is outlined in NBU resolution No. 342 of June 7.

The dividends repatriation requirements will take effect on June 13, 2016.

According to the document, dividends could be returned abroad by issuers of corporate rights and shares or depositories that service the accounts with securities of foreign investors or directly foreign investors.

The NBU set the upper limit for dividends that could be returned abroad: it cannot exceed the larger of the two indicators - $1 million (in equivalent) or 10% of the total volume of dividends during one calendar month.

If 10% of dividends exceed $5 million, the largest sum for repatriation of dividends in a month cannot exceed $5 million.

Only one person can select one authorized bank to return dividends abroad.