Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 10 NOVEMBER 2014

NBU: Currency Legislation And FEZ Crimea

Asters
Explore more from Asters

November 3, 2014 the National Bank of Ukraine adopted Resolution No. 699 "On the Application of Certain Norms of Currency Legislation During the Regime of Temporary Occupation of the Territory of the Free Economic Zone Crimea".

UkraineFinance and Banking
Yevgen Kravtsov
Yevgen Kravtsov
Anna Tkachova
Anna Tkachova

November 3, 2014 the National Bank of Ukraine adopted Resolution No. 699 "On the Application of Certain Norms of Currency Legislation During the Regime of Temporary Occupation of the Territory of the Free Economic Zone Crimea". Mentioned Resolution establishes the following special regime:

  • For the purposes of application of the NBU regulation individuals residing in/ legal entities registered in the territory of FEZ Crimea (hereinafter – Crimean entities/individuals) shall be equated to non-residents of Ukraine and contracts with such entities/individuals – to foreign economic contracts.
  • Transfer of funds (payments) from the mainland Ukraine to the territory of FEZ Crimea or from the territory of FEZ Crimea to the mainland Ukraine shall be carried under the rules for transfer of funds outside/in Ukraine.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

NBU Continues To Ease Currency Restrictions In Ukraine: New Opportunities For Individuals And Businesses

The National Bank of Ukraine has introduced significant changes to foreign currency restrictions, expanding opportunities for individuals to purchase and use foreign currency, make cross-border payments, and conduct investment transactions. These regulatory amendments also provide Ukrainian companies with greater flexibility for international business operations, including new incentive-based liberalisation mechanisms and enhanced support for export activities.
UkraineFinance and Banking
Kinstellar
Kinstellar
Article

Amendments To The Civil Code Of Ukraine Regarding Factoring Regulation

Ukraine has adopted a comprehensive new factoring law that harmonizes its legal framework with international standards, specifically the UNIDROIT Model Law on Factoring. The legislation establishes clear definitions, requirements, and protections for factoring agreements while eliminating regulatory conflicts by transferring factoring regulation from the Civil Code to dedicated legislation.
UkraineFinance and Banking
NAZALI Attorney Partnership
NAZALI Attorney Partnership