The National Bank of Ukraine (NBU) has raised the e-limit of investments abroad for individuals from EUR 100,000 to EUR 200,000 per year, the press service of the regulator has said.
The corresponding changes were approved by the decree of the NBU board of February 3, 2021 (No. 14), which was posted on the National Bank’s website and comes into force on February 5.
The report specifies that the e-limit has been increased for investments abroad, placing funds on their own foreign accounts, transferring funds under a life insurance contract and providing loans to non-residents.
“This decision in the direction of currency liberalization will not have a significant impact on the functioning of the currency market of Ukraine, including taking into account the fact that individuals have been able to buy non-cash foreign currency for more than a year without any obligations and grounds,” the press service said citing Deputy Governor of the NBU Yurii Heletii.
He noted that in 2020, individuals within the e-limit transferred about EUR274 million abroad, which is less than the average daily trading volume in the interbank foreign exchange market.
The NBU recalled that the complete removal of the e-limit for individuals to make investments abroad is one of the priorities of the National Bank, provided for by the roadmap of currency liberalization. At the same time, the regulator indicated that this will become possible only after the final adoption and implementation of a package of bills to counter BEPS (base erosion and profitshifting).
As reported, since December 18, 2019, the National Bank has increased the annual e-limit on individual foreign exchange transactions by individuals from EUR 50,000 to EUR 100,000 per year.
