E-residents are Allowed to Open Bank Accounts, Gambling Organizers to Pay Annual Fees

E-residents are Allowed to Open Bank Accounts for Doing Business

By resolution No. 18 dated 03.03.2023, the National Bank of Ukraine granted electronic residents the right to open current accounts in a bank.

This resolution was adopted to implement the provisions of Law of Ukraine dated 06.10.2022 No. 2654-IX “On Amendments to the Tax Code of Ukraine and some other laws of Ukraine regarding the peculiarities of taxation of business activities of electronic residents”.

Let us please remind you that the Law introduces the possibility for foreigners and stateless persons, who have acquired the status of e-resident, to register under the legislation of Ukraine as a private entrepreneur for conducting business activities without the need to stay in Ukraine.

In addition, by this resolution, the NBU specified the procedure for opening and closing accounts of e-residents, in particular:

  • gave the right to e-residents to submit an application to close such bank account;
  • gave banks the right to close e-resident’s current accounts on the basis of information received from the “E-resident” information system about the termination of e-resident’s business activities, and to transfer the balance of funds from this client’s current accounts to his own account opened outside of Ukraine, the details of which are specified in a contract;
  • detailed the list of non-bank payment service providers that have the right to open payment accounts for e-resident.

This resolution entered into force on 08.03.2023, except for the regulations regarding e-residents, which will enter into force on 01.04.2023 (simultaneously with the entry into force of Law No. 2654-IX).

The Obligation of Gambling Organizers to Pay Annual Fees for Licenses has been Restored

On 03.03.2023, resolution No. 173 of the Cabinet of Ministers of Ukraine entered into force, providing for the restoration of the obligation of gambling organizers to pay annual fees for licenses in the field of activities for the organization and conduct of gambling, provided for by the Law of Ukraine “On State Regulation of Activities Regarding the Organization and Conduct of Gambling Games”.

Let us please remind you that after the beginning of the armed aggression of the russian federation against Ukraine, the Government’s resolution No. 314 dated 18.03.2022, inter alia, extended the terms of validity of current temporary licenses / documents of a permissive nature and postponed periodic payments for it for the period of martial law and three months from day of its termination or cancellation.

Thus, resolution No. 173 establishes that unpaid annual license fees in the field of gambling activities for each year of validity of the license have to be paid within thirty days from the date of entry into force of this resolution.

During the specified period – until 02.04.2023 – business entities in the field of organizing and conducting gambling must submit to the Commission for Regulation of Gambling and Lotteries (CRGF) documents confirming the payment of license fees.

As CRGF reminds in its statement, non-payment or late payment of the license fee for more than two months is grounds for cancellation of the corresponding license.