Those Ukrainian companies that are planning to pay out dividends to non-resident-participants/shareholders shall take into account the peculiarities of the Ukrainian legislation.
In particular, the National Bank of Ukraine may impose currency restrictions, i.e. payment of dividends may be made only in certain amounts, for a certain period, etc.
If there are no such restrictions, the payment of dividends is made in foreign currency. In particular, payment of dividends to foreign founders (shareholders) in foreign currency is allowed by Clause 1 of Part 2 of Article 5 of the Law of Ukraine “On Currency and Currency Transactions”.
Therefore, when making a decision on payment of dividends, the amount of such payment shall be determined in hryvnia, and then converted into foreign currency at the official exchange rate of the National Bank of Ukraine as of the date of this transaction (Clause 71 of Regulation on Protection Measures and Determination of the Procedure for Performance of Certain Transactions in Foreign Currency, approved by NBU Resolution dated 02.01.2019 No. 5, NBU Letter dated 26.11.2018 No. 40-0006/63031).
You can consult the Zilver Law Firm in Kyiv (https://g.page/zilver-law-firm-kyiv/review), on any issue related to the payment of dividends to foreigners and on other corporate and currency issues.
A coporate lawyer accompanies the payment of dividends according to the checklist.
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