Currency Law – Simplifying Doing Business and Improving Investment Climate

On February 07, 2019, the Law of Ukraine No. 2473-VIII of June 21, 2018 “On Currency and Currency Transactions” comes into force, and changes previously valid legal basis for the implementation of foreign exchange operations, currency regulation and currency control.

The Law abolishes the effect of a large number of regulatory acts (including Decree of the CMU of 19.02.1993, No.15-93 “On the System of Currency Regulation and Currency Control”), as well as some of the previously existing rules. Thus, starting from 07.02.2019, carrying out or planning to carry out any operations using foreign currency (banking metals), it is necessary to follow the provisions of the new Law, as well as the new Regulations of the National Bank of Ukraine dated January 2, 2019, Nos. 1-8.

Due to this, Jurline lawyer Anatoly Opanasenko has prepared a comment for RAKURS publishing in relation to the NBU subordinate acts adopted in pursuance of the Law “On Currency and Currency Operations” and which are a step forward from the outdated system of state control over foreign exchange operations. Read more about it.