For the coordination of a loan / a credit from abroad, it is required to submit a loan / a credit agreement to the bank and confirm the “purity” of this transaction to the bank.

No clear list of the documents that any Ukrainian bank can require for confirming the readiness to make such transaction is established, but, as practice shows, banks require the following documents from their clients:

1. Draft agreement;
2. Statutory documents of the resident’s enterprise;
3. Statutory documents of a creditor of a non-resident legal entity (passport data of a non-resident individual);
4. Description of non-resident activities;
5. Confirmation of the source of funds to be transferred as a loan within Ukraine.

The servicing bank shall have the right to request any other documents that it deems necessary, if any suspicions of the “illegal” nature of the source of funds rise.

After coordinating the whole package of the documents, the servicing bank shall send the National Bank of Ukraine an e-mail about it.

After that, the funds in the form of a loan / a credit can be sent from abroad to Ukraine.

The post Obtaining a loan/a credit from a non-resident by Ukrainian company first appeared on Zilver.

Thus, according to the aforementioned law, the income of residents in foreign currency shall be placed to their accounts within 365 calendar days from the date of customs clearance of the goods, and in case of the export of services, works, intellectual property rights or other non-property rights, the period shall be calculated from the date of signing the delivery and acceptance certificate, the invoice or other documents (which can be signed and be in electronic form).

The same period shall be also applied to the import transactions, if a Ukrainian enterprise has paid in advance for goods, services, or works: the period for customs clearance of the goods or refund is 365 calendar days.

Otherwise, the penalty will be significant: 0.3 percent of the unreceived/ unreturned sum for each day of delay.

IMPORTANT: since February 2019, a relaxation of control over export / import transactions has been established. As of October 2024 the transactions of the amounts of more than 400,000 Ukrainian hryvnias shall not be subject to the currency control, and therefore the period of 365 days does not apply to them.

The post Violation of 365 days currency exchange rules in Ukraine first appeared on Zilver.