Policy Win: The National Bank of Ukraine Cancelled the Limit on Repatriation of Dividends
The American Chamber of Commerce in Ukraine welcomes steps of the National Bank of Ukraine (NBU) aimed at currency market liberalization and foreign currency control relaxation, namely recent adoption of NBU Resolution #91 "On Amendments to Some Regulatory Documents of the National Bank of Ukraine, dated July 9, 2019.
By adopting this Resolution, the NBU has cancelled all limits on repatriation of dividends in line with the Currency Liberalization Roadmap. Starting July 10, 2019 business with foreign capital is no longer subject to the limit of EUR 12 million per one legal entity on transferring dividends abroad or to nonresident accounts in Ukraine.
For over 5 years the Chamber has been actively advocating for currency market liberalization through the constant dialog with the leadership of responsible state authorities and expressing the position of business community regarding the above issues. In general, since the beginning of the year, the NBU has cancelled over 30 FX market restrictions. At the same time, there are still a number of steps to be taken on the way to full liberalization of currency market and easing the administrative restrictions imposed in 2014-2015. And the Chamber will take every single effort for achieving mentioned steps and ensuring their effective implementation.