On February 7, a new law on currency and currency transactions entered into force in Ukraine, which provides for the cancellation of more than 20 currency restrictions that acted for both business and the population, reports Hromadske.
In particular, since February 7, Ukrainians are allowed to:
• buy currency through Internet banking and self-service terminals (such operations can be carried out 24 hours a day, 7 days a week);
• invest in foreign securities and other assets (previously it was necessary to obtain an individual license from the NBU, which greatly complicated the process). Investing can be up to 50 thousand euros per year;
• transfer abroad up to UAH 150 thousand per year without opening an account (previously there were strict restrictions on the transfer of foreign currency to foreign bank accounts);
• postal operators have the right to conduct currency exchange transactions, that is, Ukrainians will be able to exchange hryvnia for foreign currency and vice versa in Ukrposhta offices and private operators (for example, Nova Poshta, if they receive a corresponding license), and so on.
In addition, currency regulation in Ukraine has been greatly simplified for businesses. In particular, foreign companies were allowed to pay dividends to their parent companies abroad (within 7 million euros per month), abolished the mandatory reserve of funds on the account before buying the currency, simplified currency banking supervision of transactions (it is easier to calculate). Also, from March 1, the rate of mandatory sale of currency by enterprises: from 50 % of currency earnings to 30 %.
