New Rules For Currency Transfers Across The Customs Border

Currency transfers across the customs border of Ukraine will be subject to new regulations from 27 July 2008.

The regulations have been recently adopted by the National Bank of Ukraine (the "NBU") with the purpose of gradual and consistent unification of the rules for currency transfers across the customs border of Ukraine with that of the European Union.

They apply to transfers across the customs border by residents and non-residents of Ukraine of domestic and foreign currency (including travellers' cheques etc) and banking metals.

They allow individuals to take up to €10,000 (or its equivalent in another currency) in cash across the border without having to declare it in writing. Any amount of cash above that limit must be declared in full in writing to the customs authority.