Long-Waited Law on Currency and Currency Transactions Enacted

This law was designed to implement a long-awaited transition from obsolete, repressive and intricate currency regulation to free currency transactions without restrictions

uatv
07.02.2019
Photo from Ukrinform-UATV

 

The “Law on Currency and Currency Transactions” came into force on February 7, Channel 24 reports.

This law was designed to implement a long-awaited transition from obsolete, repressive and intricate currency regulation to free currency transactions without restrictions.

This law removes restrictive measures on currency exchange for citizens and commerce up to the amount of ₴150,000.

Licenses will no longer be needed to invest outside of Ukraine.

The date for payment by contract for foreign transactions will no longer be limited. Previously there was a limit of 180 days. Information about contracts is now collected for the matter of statistics only.

The National Bank of Ukraine no longer requires registration of foreign loans.

Companies that violated the terms of a contract are not in danger of having their foreign activity closed.

Source UATV
date 07.02.2019
categories Economics
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