Specialists of Amparo Consulting Group provide assistance with individual and general licenses of the National Bank of Ukraine for currency operations.

General licenses

General licenses are issued by commercial banks and other financial institutions in Ukraine for foreign currency operations that do not require an individual license for the period of currency regulation regime (P.2 Art. 5 of the Cabinet of Ministers Decree № 15-93ot 19/02/1993).

According to the p.3 art.5 of the Cabinet of Ministers Decree: “authorized banks and other financial institutions that get a general license of the National Bank of Ukraine for operations conduction to foreign exchange trading, have the right to open exchange offices in Ukraine, including under agency agreements with other legal entities – residents”.

Individual licenses

Individual licenses are issued to residents/nonresidents for single currency operations for the period required for such operations. Individual licenses require the following operations:

• export/remitment /transfer of currency values from Ukraine;
• import/remitment/transfer of Ukrainian currency to Ukraine;
• receipt of foreign currency credit by the residents;
• using the foreign currency on the territory of Ukraine as payment facilities or as a pledge;
• placement of foreign currency values on the accounts and deposits abroad;
• opening of correspondent accounts by authorized banks;
• opening of foreign currency accounts by residents;
• investing abroad, including securities acquisition.
  

Obtaining of an individual license by one of the parties of currency operation also means permition for its implementation by the other party or third party that is related to this operation, if other is not provided individual licenses’ conditions.

Procedure and terms of licensing, list of documents required for reception of license, as well as reasons for refuse of license reception are determined by the National Bank of Ukraine. And is regulated by current legislation.

Refusal of the National Bank of Ukraine on getting a license may be appealed to a court or to a court of arbitration.

Services of Amparo Consulting Group:

• providing consultations on current legislation of Ukraine;
• lobbying clients’  interests at the Department of currency regulation NBU legal entity;
• lobbying clients’ interests at the territorial offices of the National Bank of Ukraine (individuals);
• representation of clients’ interests at the court;
• preparation and support of documents for license reception;
• facilitate of license reception at the department of NBU;
• facilitate of credit agreements registration for financial credit obtaining from foreign banks/financial/and other institutions.