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The National Bank of Ukraine allowed repatriation of dividends for the periods prior to 2014

NBU allowed repatriation of dividends

The National Bank of Ukraine allowed repatriation of dividends for the periods prior to 2014, as well as early repayment of credits and loans to non-residents in case of liquidation of the borrower

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The National Bank of Ukraine allowed repatriation of dividends for the periods prior to 2014, as well as early repayment of credits and loans to non-residents in case of liquidation of the borrower

The National Bank of Ukraine allowed repatriation of dividends for the periods prior to 2014, as well as early repayment of credits and loans to non-residents in case of liquidation of the borrower.

On 14 November 2017 the National Bank of Ukraine (the “NBU”) adopted a decision* on partial lifting of restrictions on dividends repatriation for the periods prior to 2014.

In case of repatriation of dividends accrued in 2013 and previous years the limit for purchase and transfer of foreign currency is set to an equivalent of USD 2,000,000.00 per calendar month.

Yet, the limit  for payment of dividends accrued in 2014-2016  remains an equivalent to USD 5,000,000.00 per calendar month.

The NBU also allowed early repayment of credits and loans to non-resident lender should the borrower be under liquidation. In such case the payment shall be performed within liquidation procedure according to priority of creditors’ claims satisfaction determined by legislation of Ukraine.

The said amendments entered into force on 15 November 2017.

If you need any additional advice on these matters, please contact Yurii Katser (ykatser@kpmg.ua), Serhii Popov (spopov@kpmg.ua, +380444929681), or call at +3804449055071

*The Resolution of the Board of the National Bank of Ukraine no. 112 dated 14 November 2017 “On Amendments to the Resolution of the Board of the National Bank of Ukraine no 410 dated 13 December 2016”

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