The National Bank has allowed non-resident legal entities to open accounts, including foreign investment funds and asset management companies, acting on behalf of such investment funds.
The corresponding changes are stipulated by the Decree No. 56 of April 1, which, in a new edition, sets out an Instruction on the procedure for opening and closing accounts of bank customers and correspondent accounts of banks regarding residents and non-residents.
The new edition of the Instruction is valid from April 4. The instruction regulates the order of opening/closing by banks:
– the customer accounts for residents and non-residents of Ukraine (individuals and legal entities);
– correspondent accounts of banks for residents and non-residents;
– accounts of international financial organizations, as well as of the manager of the property management contract.
- The requirement for customers to submit bank cards with sample signatures during the opening of accounts has been canceled. The order of the account is carried out on the basis of the list of persons who, in accordance with the legislation, are entitled to it, and does not require notarization.
- Changing the name of a legal entity does not provide for the closure of existing accounts.
The provisions of the document also do not contain the regimes of customer accounts (that is, restrictions regarding the conduct of operations with accounts), but only determine certain features of the operations of the accounts of individual customers.
The Law “On Currency and Currency Operations” declares the principle of freedom to carry out currency operations, makes it possible to waive the restrictions on the use of funds on clients’ accounts in the stable operation of the financial system of Ukraine. At the same time, the National Bank has the right to impose restrictions and protection measures solely on the grounds and in the manner specified in this law.