Currency supervision, which replaced currency control with the Law on Currency and Currency Transactions, became an important step in the relaxation of currency regulation in Ukraine.
However, despite these relaxations, participants in currency transactions are still obliged to comply with currency legislation.
Since the beginning of russia’s armed aggression against Ukraine, the limitations regarding the purchase and cross-border transfer of foreign currency have become an important topic for many relocated citizens and companies with cross-border business operations.
1. Deadlines for settlement of transactions
We provide clarifications regarding one of the main components of the currency supervision - keeping the settlement deadlines, as well as provide recommendations and take measures for monitoring operations or extending deadlines.
2. Offset of counterclaims
We provide advice on the implementation of the offset of counterclaims and the grounds on which the currency supervision of such operations is completed.
3. Repayment of foreign loans
We provide advice on repayment of loans received abroad, acquisition and use of foreign currency for the purpose of repayment of such loans.
4. Purchase and transfer of foreign currency
We provide clarification on the purchase and transfers of currency to foreign accounts, as well as on the limitations of such operations and the conditions for their implementation.
5. Cross-border movement of currency
We provide consultations on the procedure and conditions for cross-border movement of cash and non-cash national and foreign currency, as well as bank metals both from Ukraine and to Ukraine.
6. Using bank accounts
Our team advises on the procedure for using accounts and carrying out transactions in foreign currency and in hryvnia by legal entities, their separate divisions, non-residents and their representative offices, sole traders, natural persons.
7. Investment activity
We help foreign investors to open accounts in Ukraine, invest in businesses and transfer the received income abroad.
8. Insurance activity
We coordinate the procedure for paying the insurance premium to the non-resident reinsurer or the insurance indemnity in favour of the non-resident beneficiary.