You're reading: NBU issues 18 personal currency licenses to individuals

The National Bank of Ukraine (NBU) from July 3 through July 24 issued 18 electronic personal currency licenses to individuals for investing up to $50,000 abroad, the press service of the central bank has told Interfax-Ukraine.

The information on the volumes of the transactions under the licenses will be included into statistics of the balance of payment, the NBU said.

As reported, from July 3 the NBU started issuing electronic personal currency licenses to individuals, other than entrepreneurs, to transfer foreign currency abroad for the implementation of certain foreign exchange transactions.

An individual is able to transfer foreign currency abroad up to the equivalent of $50,000 per one calendar year on the basis of an e-license.

E-licenses allow individuals to transfer foreign currency abroad within the set limits to perform three types of foreign exchange transactions: investments abroad, depositing funds in their own accounts abroad, and transactions at the fulfillment of obligations to non-residents arising from life insurance contracts.

To obtain an e-license, an individual has to apply for a license to any authorized bank where he holds an account and submit, either on paper or electronically, the following documents: an application form for an e-license to be submitted to the NBU, documents proving that an individual’s income is sufficient to make foreign currency transfers on the basis of an e-license, originals or copies of documents the purpose of foreign exchange transfers abroad, except for cases when foreign currency is transferred to the individual’s own accounts.