In order to legally invest, acquire any assets abroad, including shares of an offshore company to open an account, a Ukrainian citizen must obtain an individual NBU license. This is a rather unpleasant procedure that requires communication with law enforcement authorities and may take several months. At the same time every confidentiality is lost. In addition a citizen of Ukraine is obliged to declare all income associated with this investment.
What is a violation of this rule?.
a. Placing money in the account in a foreign bank without a license from National Bank threatened ( Article. 208 of the Criminal Code ):.
penalty in the amount of which was placed without obtaining a license,.
criminal liability and punishment of a fine (5,100 USD ) to a restriction of freedom ( up to 3 years, with confiscation of property).
2. Operations with currency values which require a license NBU without first obtaining such license threatened.
fine in the bag, bag are his work the equivalent of currency values.
3. When making a loan to purchase real estate in a foreign bank, you need a license of the National Bank. Failure to do so entails.
interest at a rate of 1% of loan amount.
4. The owners of assets abroad (particularly real estate) are required ihzadeklarirovat in Ukraine. Failure to do so entails.
penalty of 10 non-taxable minimum incomes for each reporting period.
5. The need to declare the income received from rental of real estate arenduzarubezhnoy in the country of ownership, and in Ukraine (if between that country and Ukerainoy not concluded an agreement on avoidance of double taxation).
6. For the submission of false information or change information in order to conceal currency values (r. n. violation of the order of declaration ) threatens.
fine of 20 untaxed minimum incomes of citizens.
Thus, before any kind of surgery is necessary to obtain individual licenses of the following:.
a. The license for the discovery and use of a foreign bank account ( outside Ukraine ) natural and legal persons of Ukraine.
2. The license for the translation of foreign currency outside Ukraine for the purpose of investing abroad.
Instruction on the procedure for issuing such licenses approved by the Board of the National Bank of Ukraine on 16 March 1999. N 122, registered in the Ministry of Justice of Ukraine on 26 April 1999. for N259/3552.
3. License for the translation of foreign currency from Ukraine to pay for natural persons - residents service contracts ( insurance policies, certificates, certificates) of life insurance entered into with non-residents, and holding Ukrainian resident individual foreign exchange transactions.
Regulations on the procedure of issuing individual licenses approved by the Board of the National Bank of Ukraine dated 17 June 2004. N 266, registered with the Ministry of Justice of Ukraine on 16 July 2004. for N 897/9496.
Individual foreign exchange licenses issued all the regional department of NBU. But we should not forget that as soon as an application for a license will go to the National Bank, a citizen (or company) will check. And it will check its law enforcement agencies.
According to the NBU regulations, upon receipt of applications for licenses to conduct operations with foreign currency, banking institutions must ... A grant individual licenses will be only in the presence of a positive conclusion of the aforementioned law enforcement agencies.