Legal entities-non-residents will be able to open accounts in Ukrainian banks.
Such a possibility is provided for by the laws of Ukraine "On Currency and Currency Transactions" (hereinafter - the Law on Currency), which will come into force on February 7, 2019, and "On Amendments to Some Laws of Ukraine Concerning the Promotion of Foreign Investments."
According to the norms of the above-mentioned laws, the banking services market of Ukraine opens for new entities - legal entities-non-residents, who are given the right to open accounts in Ukrainian banks and carry out currency transactions through such accounts.
The the Law on Currency guarantees to non-residents all the rights that residents use today in the field of currency transactions.
In pursuance of these laws, the National Bank has developed and proposed for public discussion a draft resolution of the Board of the National Bank of Ukraine "On Amendments to Certain Normative Acts of the National Bank of Ukraine" (hereinafter referred to as the Draft).
In particular, it is proposed to recast the Draft in the new wording and to change the name of the Instruction on the procedure for opening, using and closing accounts in national and foreign currencies.
The updated document will be completed in the following order:
● opening of current / deposit (deposit) accounts and conditional storage accounts (escrow) to non-resident legal entities;
● opening and closing of correspondent accounts of banks - residents and non-residents;
● opening of current accounts to the manager under the property management agreement.
In addition, the project will determine the specifics of the implementation of individual transactions by customers of banks.
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