NBU canceled the limit on the transfer of dividends

NBU canceled the limit on the transfer of dividends

The Board of the National Bank of Ukraine by its Decree No. 91 of July 9, 2019 “On Amending Certain Normative Legal Acts of the National Bank of Ukraine”, which entered into force the next day, lifted all restrictions on the repatriation of dividends to improve the investment climate, which was stipulated by the roadmap for currency liberalization.

From now on, business with foreign capital has no more limits equal to 12 million euros per month for a single legal entity to transfer dividends abroad or to the accounts of non-residents in Ukraine.

The National Bank reports that another currency relaxation will not have negative consequences for macro-financial stability. In the first half of the year, business transferred overseas dividends in the amount of $ 1.27 billion. USA, of which 1.07 billion dollars. USA – due to the purchased currency. Such volumes of currency transfers and purchases are 20% and 14% less than for the same period last year.

In general, since the beginning of the year, the National Bank has canceled more than 30 restrictions on the foreign exchange market. National Bank notes that currency liberalization will continue in accordance with the pace of improvement in the macroeconomic situation. Its ultimate goal is the free movement of capital.