Obtaining individual licenses from the National Bank of Ukraine

One of the services Campio Group provides is assistance with obtaining individual licenses from the National Bank of Ukraine.

Our professionals assist with obtaining such individual licenses:

1. License for opening and using a foreign bank account for physical and legal persons nationals of Ukraine.
   The procedure is set by the Resolution of the Board of the National Bank of Ukraine dated 14 October 2004 No 485 “On approval of the Regulation…on placement of currency values by residents (physical and legal persons) onto foreign accounts” dated 5 November 2004 N1413/10012.
2. License for transfer of foreign currency abroad with the purpose of realizing foreign investments.
   Procedure for obtaining such a license was approved by the Resolution of the Board of the National Bank of Ukraine on 16 March 1999 No 122, registered with the Ministry of Justice of Ukraine on 26 April 1999 N259/3552.
3. License for transfer of foreign currency abroad by resident individuals with the purpose of paying for services under contracts of insurance, concluded with non-residents and executing certain currency operations by Ukrainian residents.

The Regulation was approved by the Resolution of the Board of the National Bank of Ukraine on 17 June 2004 No 266, registered with the Ministry of Justice if Ukraine on 16 July 2004 N 897/9496.

Individual currency licenses are issued by all regional offices of the National Bank of Ukraine. But it is important to note that after the application for a license is filed the individual or company that applied will be subject to inspections.

Once a banking institution receives an application for obtaining a license to conduct operations with foreign currency, such an institution must “inform of this the special department on fighting organized crime at the State Security Service and Ministry of Internal Affairs”. And the license itself will only be issued after green light is granted by the abovementioned law-enforcing bodies.

Please contact our office for a more detailed consultation regarding this matter. Our lawyers will be glad to answer any of your questions and will assist you with obtaining licenses in a timely manner.