NBU cancels limit for repatriation of funds from sale of securities
The National Bank of Ukraine (NBU) has canceled a monthly limit of EUR5 million for repatriation of funds from the sale of securities, corporate rights, as well as funds received as a result of a decrease in the charter capital of legal entities and the withdrawal of foreign investors from business entities, the NBU said on its website.
The NBU also expanded the list of operations that are allowed to be carried out on accounts of non-residents. In particular, the central bank allowed the crediting to the current accounts of non-resident individuals of funds in hryvnias received as dividends, interest income on securities and other income on property rights objects in Ukraine that are not related to their alienation, sale, liquidation or reduction of the charter capital.
"The said weakening, together with the previously abolished restriction on the repatriation of dividends, allows non-residents to more flexibly manage their own funds both in foreign currency and in hryvnias. The simplification of the procedure for returning foreign investments will also facilitate their further inflow to Ukraine," the report says.
In addition, in order to avoid inconsistencies, the NBU clarified that the current e-limit of EUR2 million/year for investments of resident legal entities abroad also applies to the purchase of securities of foreign issuers and Ukraine's eurobonds.