Obtaining certificates of price appraisal

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In order to transfer moneys to nonresident(s) as means of payment for the services received it is necessary to obtain a certificate of price appraisal. This Certificate is also needed in case of payment for receiving intellectual rights, as well as promissory bills, which confirm the indebtedness of a resident before nonresident regarding payment for services provided, etc.

The Certificate of Price Appraisal is issued by the State Information-Analytical Center for Foreign Goods Market Monitoring and is the document that certifies the correspondence of prices indicated in agreements to the factual service provided or intellectual right transferred under these agreements and fair market value.

This Certificate is presented to a bank in order to effect payment when the value of the transaction is over EUR 100,000 or the equivalent of such amount in another currency according to the official exchange rate of Hryvnia to foreign currencies, set by the National Bank of Ukraine on the date of concluding the agreement (art. 4 of the Resolution of the National Bank of Ukraine dated 30.12.2003 No597).

In case of not presenting such Certificate the bank will refuse in effecting transfer of moneys.

In order to obtain this Certificate one is required to provide the State Monitoring Center with the set of documents, which are needed for conducting appraisal. It takes 2 to 7 week days to receive the Certificate.

Please contact our office for a more detailed consultation regarding this matter.