RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of June 17, 2004 No. 266

About approval of the Regulations on procedure for issue of individual licenses on transfer of foreign currency out of limits of Ukraine for payment of bank metals and carrying out separate currency transactions

According to requirements of Articles 5, of 11, 13 Decrees of the Cabinet of Ministers of Ukraine of 19.02.93 No. 15-93 "About system of currency control and currency exchange control", and also Item 14 of Article 7 and article 44 of the Law of Ukraine "About the National Bank of Ukraine" the Board of the National Bank of Ukraine DECIDES:

1. Approve Regulations on procedure for issue of individual licenses on transfer of foreign currency out of limits of Ukraine for payment of bank metals and carrying out separate currency transactions it (is applied).

2. To department of currency control (S. O. Yaremenko) after state registration in the Ministry of Justice of Ukraine to bring contents of this resolution to permission of territorial administrations of the National Bank of Ukraine and banks for management and use in work.

3. To impose control over the implementation of this resolution on General department of banking supervision (V. V. Pushkarev).

4. The resolution becomes effective in 10 days after state registration in the Ministry of Justice of Ukraine.

Approved by the Resolution of Board of the National Bank of Ukraine of June 17, 2004 No. 266

Regulations on procedure for issue of individual licenses on transfer of foreign currency out of limits of Ukraine for payment of bank metals and carrying out separate currency transactions

1. General provisions

1.1. The regulations on procedure for issue of individual licenses on transfer of foreign currency out of limits of Ukraine (further - the Provision) are drafted for payment of bank metals and carrying out separate currency transactions according to requirements of Articles 5, of 11, 13 Decrees of the Cabinet of Ministers of Ukraine of 19.02.93 No. 15-93 "About system of currency control and currency exchange control", and also Item 14 of Article 7 and article 44 of the Law of Ukraine "About the National Bank of Ukraine".

1.2. This Provision regulates procedure and conditions of issue by the National Bank of Ukraine (further - National Bank) individual licenses on transfer of foreign currency out of limits of Ukraine (further - the license) for:

payments by physical persons - residents of services in agreements (insurance policies, certificates, certificates) of life insurance concluded with nonresidents;

payments of bank metals by authorized banks in case of their acquisition outside Ukraine;

carrying out housekeeping by subjects - residents of separate currency transactions which need receipt of licenses according to the Decree of the Cabinet of Ministers of Ukraine of 19.02.93 No. 15-93 "About system of currency control and currency exchange control".

1.3. Requirements of this provision do not extend to issue of licenses for transfer of foreign currency out of limits of Ukraine for the purpose of implementation of investments abroad, payments of currency values, except for payments of bank metals in case which is stipulated in Item 2.2 Chapters 2 this provision, to transfers of physical persons [except for fees under agreements (insurance policies, certificates, certificates) of life insurance concluded with nonresidents] and provisions by residents of foreign currency loans to nonresidents who are regulated by the corresponding regulatory legal acts of National Bank (the resolution of Board of the National Bank of Ukraine of 16.03.99 No. 122 "About approval of the instruction about procedure for issue of individual licenses on implementation of investments abroad", registered in the Ministry of Justice of Ukraine 26.04.99 for No. 259/3552, of 29.01.2003 No. 35 "About approval of the Regulations on procedure for issue to residents of individual licenses on transfer of foreign currency out of limits of Ukraine for the purpose of acquisition of bonds of external state loans of Ukraine", registered in the Ministry of Justice of Ukraine 17.02.2003 for No. 120/7441 (with changes), and of 17.06.2004 No. 270 "About approval of the Regulations on procedure for receipt by residents of the credits, foreign currency loans from nonresidents and provision by residents of foreign currency loans to nonresidents", registered in the Ministry of Justice of Ukraine 15.07.2004 for No. 885/9484, of 29.12.2007 No. 496 "About approval of Rules of implementation out of limits of Ukraine and in Ukraine of transfers of physical persons on the current currency uncommercial transactions and their payments in Ukraine".

1.4. For transfer of foreign currency out of limits of Ukraine by bodies which perform the powers on behalf of the state in the borders determined by the laws of Ukraine and at the expense of budgetary funds the license is not necessary.

1.5. Receipt of the license for carrying out the transactions connected with transfer of foreign currency out of limits of Ukraine by subjects of housekeeping - residents (if it is supported by the relevant documents), on purpose is not required:

payments of the admission or membership fees in the form of money which is paid as onetime or periodic fees for participation of this resident and/or ensuring the current activities of legal entities - nonresidents: to international intergovernmental organizations without restriction on the amounts; to other legal entities - nonresidents in the amount which does not exceed in equivalent 10000 euros in one calendar year for benefit of one person;

fees of nonresidents which grant the participation right to subjects of housekeeping - residents tenders in the international exhibitions, fairs, the congresses, symposiums, conferences, seminars, cultural and sporting events;

payments of training, training, medical treatment abroad of physical persons, patentings, implementation of payments to nonresidents for use of their copyright;

money transfer to the international public organizations for carrying out in the territory of Ukraine of actions under their aegis (if it is provided by constituent documents of these organizations);

payments of expenses to judicial, arbitral, notarial and other authorities of foreign states (including tax payment, charges, the state fee and other obligatory payments according to the legislation of foreign states);

accomplishment of obligations under the signed contracts with legal nonresident persons as for compensation of the expenses performed by them for benefit of physical resident persons who temporarily stay outside Ukraine by it as compensation or other expenses connected with accomplishment of professional obligations by them;

payments of the expenses connected with the death of citizens of Ukraine abroad (transportation expenses and expenses on burial).

money transfer by the resident guarantor (guarantor) to the nonresident creditor within the obligations of the resident borrower provided with guarantee (bail) provided by the corresponding credit agreement (the agreement of the loan) and conditions on which it is registered by National Bank.

transfer of warranty providing for participation in the tender which provides delivery of goods (products, works, services, intellectual property rights), in the amount which is not exceeding in equivalent 10 000 euros in one calendar year for benefit of one person.

pleasure the resident borrower of the return requirement of the nonresident guarantor (guarantor) who transferred foreign currency to authorized creditor bank, within the amount which this guarantor (guarantor) paid according to the agreement of guarantee (guarantee) for obligations of such resident borrower, provided by the corresponding credit agreement with authorized creditor bank.

Recalculation of foreign currency amount which shall be translated in euro is performed on the cross rate determined according to the official rate of hryvnia to the foreign currencies established by National Bank on the date of implementation of transfer of foreign currency out of limits of Ukraine

In supporting documents, and also in calculation of expenses on compensation which moves the subject of housekeeping - resident the amount which is subject to payment shall be specified.

Specified in paragraphs the second - the fourth this Item of transaction are performed with observance of requirements of the Law of Ukraine "About procedure of payments in foreign currency", the Instruction about procedure of control of export, import transactions approved by the resolution of Board of the National Bank of Ukraine of 24.03.99 No. 136 and registered in the Ministry of Justice of Ukraine 28.05.99 for No. 338/3631 (with changes), and on other transactions which are not import, requirements of article 2 of the Law of Ukraine "On procedure of payments in foreign currency" do not expatiate.

1.6. If funds are transferred to advantage of the nonresident as guarantee that the subject of housekeeping - resident will use specified in paragraphs three - the fifth Item 1.5 of this Chapter service in time which exceeds the term of calculations established by the legislation of Ukraine, then such transactions need receipt of the license. Not later than in 10 days after completion of term of the warranty obligation of means shall be used on payment of service or are returned to Ukraine.

1.7. The authorized bank which has the general license for implementation of currency transactions regarding trade in bank metals in the international markets has the right to implementation of transfer out of limits of Ukraine of foreign currency for payment of bank metals without receipt of the license.

1.8. The license is granted by National Bank

1.9. The license cannot be granted (is received) on carrying out currency transaction which is already performed.

1.10. The individual license for implementation by the physical resident person who is not the subject of business activity, fee according to the life insurance contract signed with the nonresident on the amount to 50 000 US dollars inclusive (equivalent of this amount in other foreign currency on the official rate of hryvnia to foreign currencies established by National Bank on date of issue of the individual license) is issued by National Bank electronically by means of the automated information system of the National Bank of Ukraine "The register of individual licenses on implementation of currency transactions by physical persons".

The procedure for functioning of this automated information system and provision by National Bank by this system of the individual license electronically (including features of obtaining, issue, cancellation, effective period of the license, the refusal bases in its issue, etc.) is determined by the separate regulatory legal act of the National Bank of Ukraine.

1.11. Residents bear responsibility according to the legislation of Ukraine for violation of requirements of this provision.

2. The list of the documents necessary for licensing

2.1. For receipt of the license the physical person - the resident shall file the following documents:

statement for licensing (appendix 1);

copies of the pages of the passport (or the document, it replacing) containing surname, name, middle name, birth date, series and passport number (or the document, it replacing), date of issue and the name of the body which issued the document, registration of the place of residence;

copies of the relevant documents confirming availability at physical person of the bases for implementation of money transfer in foreign currency.

2.2. The authorized bank which has the general license for implementation of currency transactions regarding implementation of transactions with bank metals in the foreign exchange market of Ukraine (concerning attraction and placement of bank metals in the foreign exchange market of Ukraine and trade in bank metals in the foreign exchange market of Ukraine) for receipt of the license for the purpose of payment of bank metals for subsequent their import to the territory of Ukraine shall submit in any form the application for receipt of the license for payment of bank metals with indication of foreign currency amount which shall be translated.

The license is granted to authorized bank for a period of up to 180 calendar days. The authorized bank can transfer foreign currency amount completely or parts during the term which is specified in the license.

In case of the repeated appeal of authorized bank concerning licensing together with the statement information on the size of the foreign currency which is actually converted by authorized bank on the previous license of National Bank and amount of actually purchased bank metals with indication of their type, weight, test and cost is provided.

2.3. The subject of housekeeping - resident for receipt of the license for carrying out separate currency transactions shall file the following documents:

a) the statement for licensing with indication of the purpose of transfer of foreign currency out of limits of Ukraine according to appendix 2;

b) reasons for need of money transfer out of limits of Ukraine with copies of supporting documents [agreements (agreements), contracts, calculations] certified properly and other documents submitted depending on transaction essence;

c) for subjects of managing - residents, budgetary funds use, the applicant assured by the signature (for the legal entity - the signature of the head) the copy of the profit and loss budget of the subject of managing - the resident approved with the relevant financial body and the certificate of the State Treasury of Ukraine of availability of means on the account of the company - the resident for their transfer for the purpose of determined in the statement for licensing;

d) the invoice or the letter notification with indication of the corresponding bank details of the nonresident to whom funds or copies of these documents certified properly will be transferred. 

 If transfer of foreign currency out of limits of Ukraine is made by the non-profitable organization (organization), then it submits the document confirming its inclusions in the Register of the non-profitable organizations and organizations [the original or the copy certified by the signature of the applicant (for the legal entity - the signature of the head)];

ґ) the documents necessary for clarification of additional circumstances on carrying out currency transaction and studying of participants of transaction [in particular, clarifications of structure of property, establishment of all available final beneficial owners (controllers) or the fact of their absence] upon the demand of National Bank.  

The license is granted to the subject of managing - resident for a period of up to 90 days.

e) the reference of the applicant in any form about him the opened current accounts in authorized banks (for applicants - legal entities and physical persons entrepreneurs). The reference shall contain information on the name of authorized bank(s), account currency(currencies) (ов), in date(s) of opening of the account (ов), remaining balance of means on the account (ah), general amount(s) transfer and write-off of means on the account (Amy) at least for the last six months. Information is specified in the reference as of date of creation of the statement receipt of the license. The reference is signed by the applicant (authorized by him person).

2.4. The documents constituted in foreign language which are submitted for consideration shall be translated into Ukrainian. This transfer makes sure notarially. The documents constituted in Russian and also those which text is stated in foreign language with his simultaneous statement in the Ukrainian (Russian) language are not translated into Ukrainian.

2.5. The official documents constituted and certified in the territory of foreign states are subject to consular legalization according to the legislation of Ukraine, except for those cases in case of which according to international treaties which consent to be bound is provided by the Verkhovna Rada of Ukraine such legalization is not required.

3. Procedure for consideration of documents for licensing

3.1. The National Bank considers the document package received from resident for licensing according to the procedure of priority of its receipt.

Items 3.2 and 3.3 are excluded according to the Resolution of Board of the National Bank of Ukraine of 27.03.2013 No. 109, with respect thereto Items 3.4 and 3.5 to consider respectively Items 3.2 and 3.3

3.2. Aggregate term of consideration by National Bank of document package for issue of licenses shall not exceed 30 days from the date of its receipt. The National Bank has the right to address the applicant, state bodies, organizations, departments, authorized banks, other subjects of managing and physical persons for receipt of information, documents and the conclusions concerning participants of transaction, essence and purpose of this transaction, compliance of essence of transaction of content of activities of the applicant, sources of origin of means (assets) of the applicant, sufficiency of real financial opportunities of the applicant to carry out (to initiate) financial transaction on the corresponding amount, economic feasibility (sense) of transaction. The National Bank stops consideration of documents of the applicant for licensing and resumes their consideration after obtaining requested information, documents and the conclusions.

3.3. No. 478 is excluded according to the Resolution of Board of the National Bank of Ukraine of 24.07.2015

4. Licensing procedure

Item 4.1 is excluded according to the Resolution of Board of the National Bank of Ukraine of 27.03.2013 No. 109, with respect thereto Items 4.2-4.18 to consider respectively Items 4.1-4.17.

4.1. The license (changes to the license) is granted to resident only after implementation of payment for services in licensing by it (changes to the license).

4.2. The National Bank grants to resident the corresponding license in the form given in appendices 3, 4 to this Provision or in writing reports to him about refusal in its issue or modification of it (with indication of the bases) in the terms determined in Item 3.2 of Chapter 3 this provision.

4.3. In case of need modification in the granted license the owner of the license in time no more than 10 working days after emergence of circumstances which resulted in need of modification shall submit to National Bank the application with documentary reasons for such need in the form given in appendix 5. Changes in the license are made only at the initiative of the owner of the license.

4.4. The National Bank makes changes to the license based on the documents filed by the owner of the license in time it is no more than 20 working days from the date of their registration in department (sector) of clerical work (Management of clerical work).

Changes to the license are drawn up as appendix to it which is integral part of earlier granted license (appendix 6).

4.5. The license (changes to the license) is granted only to the owner of the license specified in it without the right of its transfer to other persons.

Date of issue of the license (changes to the license) shall precede date of implementation of the corresponding currency transaction.

4.6. The license (change in the license) are drawn up in duplicate in the form established in appendices 3, 4 or 6 to this Provision. The first copy of the license (changes in the license) is drawn up on the number stamp form of National Bank, goes to the owner of the license (it is issued under the signature to the owner of the license or his authorized representative) after implementation of payment for provision of the license (changes in the license) in the amount of, established by regulatory legal acts of National Bank. The second copy of the license (changes in the license) is stored in National Bank. 

4.7. Document storage which went for receipt of the license and also accounting of the granted licenses performs division of National Bank which issued them. Documents which go for receipt of the license cannot be used for receipt of the new license.

Control over the implementation of conditions of licenses is exercised by authorized banks.

4.8. The resident independently shows the original of the license in authorized bank through which the foreign currency out of limits of Ukraine shall be converted. The authorized bank keeps the copy of the license for accounting and control.

4.9. Can be the bases for refusal in licensing, entering of changes into it:

absence or discrepancy to requirements of this provision of one of documents which are specified in the list, determined in Chapter 2 this provision;

obtaining/detection of documents by National Bank which demonstrate submission of incomplete/unreliable/contradictory information by the applicant, including about final beneficial owners (controllers) of the applicant - the legal entity and/or other party of currency transaction and/or documents which were invalid their representations, (invalid) for date;

giving by the resident in National Bank of the documents which are not meeting the requirements of the legislation of Ukraine;

availability of the signs which are the bases for refusal in implementation of currency transaction according to requirements of the legislation of Ukraine in the field of prevention and counteraction of legalization (washing) of income gained in the criminal way;

implementation of currency transaction before issue by National Bank of the license or modification of it;

refusal to file the documents necessary for clarification of additional circumstances of carrying out currency transaction upon the demand of National Bank;

changes in the legislation of Ukraine which took place during the term of consideration by National Bank of documents of the resident established in Item 3.2 of Chapter 3 this provision;

identification in the submitted documents of information that participant of transaction on transfer of foreign currency abroad or person, in advantage or for the benefit of which this operation is performed is the legal entity or physical person taking the location (register/are permanently lives) in the country recognized by the Verkhovna Rada of Ukraine state aggressor / государством-the invader.

the transactions specified in the documents submitted by the applicant to National Bank which are not requiring receipt of the license;

excitement concerning the applicant of case on bankruptcy or finding of the applicant in the course of the termination;

insufficient justification of economic feasibility (sense) of transaction on transfer of foreign currency abroad and/or insufficiency of financial opportunity to carry out (to initiate carrying out) this transaction(s);

submission of documents by the applicant, is face which disappears from bodies of pre-judicial investigation / consequence / court / authorities according to information posted on the official website of the Ministry of Internal Affairs of Ukraine (in search accounting "Persons who disappear from authorities") and/or on the Single state web portal of open data (according to the Ministry of Internal Affairs about persons disappearing from authorities);

detection of information that the participant of the transaction or person, in advantage or for the benefit of which this operation is performed the legal entity or physical person taking place of stay, the residence, the location, place of registration in the country which is included in the list of the countries (territories) which do not carry out is or inadequate image implements recommendations of the international, intergovernmental organizations performing activities in the field of fight against legalization (washing) of income gained in the criminal way, or financing of terrorism and/or to which the international sanctions and/or sanctions according to the procedure are applied, provided by the Law of Ukraine "About sanctions", and/or sanctions of other foreign states or interstate associations;

identification within the year preceding receipt date of document package, violation established facts (or in the presence at National Bank of documentary confirmed information from special bodies on fight against organized crime or public authorities about violation) the applicant of requirements of the bank law of Ukraine, the foreign exchange legislation of Ukraine, the legislation of Ukraine concerning regulation of the markets of financial services, in the field of prevention and counteraction of legalization (washing) of income gained in the criminal way or to financing of terrorism and/or to the applicant applies corrective actions or penalties for violation of the above-stated legislation of Ukraine. 

4.10. The refusal in licensing or modification of it can be appealed in court.

4.11. The duplicate of the license (changes in the license), in case of loss or the damage of the license (changes in the license) issued according to the legislation of Ukraine.

The duplicate of the license (changes in the license) is issued to the owner of the license only during its action and after payment of service in issue of this duplicate in the amount of, established by regulatory legal acts of National Bank concerning approval of rates for services in registration and licensing.

4.12. Can be the bases for cancellation of the license:

written refusal of resident of carrying out transaction;

violation of conditions of the license, requirements of the legislation of Ukraine;

identifications by National Bank of the documents witnessing about submissions of incomplete/unreliable/contradictory information by the owner of the license including about final beneficial owners (controllers) of the applicant - the legal entity and/or other party of currency transaction and/or documents which were invalid their representations, (invalid) for date;

excitement concerning the applicant of case on bankruptcy or finding of the applicant in the course of the termination;

liquidation of the legal entity and cancellation of state registration of the physical person - the entrepreneur according to the legislation of Ukraine.

4.13. In case of circumstances owing to which the license shall be cancelled at the initiative of the applicant he shall submit to National Bank the plea of nullity of the license (appendix 7) with indication of the corresponding reasons (with their documentary confirmation).

The National Bank based on the documents submitted by the applicant in time no more than 15 working days cancels the license or gives written refusal in its cancellation.

The license is considered cancelled from the moment of adoption of the corresponding order by National Bank (appendix 8).

4.14. About cancellation of the license with indication of the bases National Bank in time which does not exceed 10 days, in writing reports the owner of the license. The National Bank does not notify the owner of the license on cancellation of the license in case of its liquidation / cancellation of state registration.

The paragraph two is excluded according to the Resolution of Board of the National Bank of Ukraine of 14.12.2017 No. 130

4.15. Cancellation of the license means prohibition on further transfer by the resident of foreign currency out of limits of Ukraine according to this license.

4.16. National Bank means of electronic communication of National Bank or mail service inform authorized bank of Ukraine which is specified in the license, about its cancellation.

 

Appendix 1

to Regulations on procedure for issue of individual licenses on transfer of foreign currency out of limits of Ukraine for payment of bank metals and carrying out separate currency transactions

National Bank of Ukraine

The statement for issue to physical resident person of the individual license on transfer of foreign currency out of limits of Ukraine for the purpose of fee under the agreements (insurance policies, certificates, certificates) of life insurance signed with nonresidents

See Appendix 1 (7Kb In original language)

Director of the department of currency control

O. A. Scherbakova

Appendix 2

to Regulations on procedure for issue of individual licenses on transfer of foreign currency out of limits of Ukraine for payment of bank metals and carrying out separate currency transactions

The statement for issue to the subject of resident managing of the individual license on transfer of foreign currency out of limits of Ukraine

See Appendix 2 (8Kb In original language)

Director of the department of currency control

S. O. Yaremenko

Appendix 3

to Regulations on procedure for issue of individual licenses on transfer of foreign currency out of limits of Ukraine for payment of bank metals and carrying out separate currency transactions

The individual license on the transfer right out of limits of Ukraine of foreign currency for payment of bank metals

See Appendix 3 (7Kb In original language)

Director of the department of currency control

S. O. Yaremenko

Appendix 4

to Regulations on procedure for issue of individual licenses on transfer of foreign currency out of limits of Ukraine for payment of bank metals and carrying out separate currency transactions

The individual license on transfer of foreign currency out of limits of Ukraine

See Appendix 4 (8Kb In original language)

Director of the department of currency control

S. O. Yaremenko

Contractor: Leading economist

N. A. Telepanova

Appendix 5

to Regulations on procedure for issue of individual licenses on transfer of foreign currency out of limits of Ukraine for payment of bank metals and carrying out separate currency transactions

Statement for modification of individual
the license of the National Bank of Ukraine from _______ No. _____
on transfer of foreign currency out of limits of Ukraine

See Appendix 5 (7Kb In original language)

Director of the department of currency control

S. O. Yaremenko

Appendix 6

to Regulations on procedure for issue of individual licenses on transfer of foreign currency out of limits of Ukraine for payment of bank metals and carrying out separate currency transactions

Changes to the individual license on transfer of foreign currency out of limits of Ukraine for

See Appendix 6 (7Kb In original language)

Director of the department of currency control

S. O. Yaremenko

Contractor: Leading economist

N. A. Telepanova

Appendix 7

to Regulations on procedure for issue of individual licenses on transfer of foreign currency out of limits of Ukraine for payment of bank metals and carrying out separate currency transactions

Plea of nullity of the individual license
The National Bank of Ukraine from _______ No. _____
on transfer of foreign currency out of limits of Ukraine

See Appendix 7 (7Kb In original language)

Director of the department of currency control

S. O. Yaremenko

Contractor: Leading economist

N. A. Telepanova

Appendix 8

to Regulations on procedure for issue of individual licenses on transfer of foreign currency out of limits of Ukraine for payment of bank metals and carrying out separate currency transactions

The order about cancellation of the individual license of the National Bank of Ukraine
from ________ No. _____ on transfer of foreign currency out of limits of Ukraine

See Appendix 8 (7Kb In original language)

Director of the department of currency control

S. O. Yaremenko

Contractor: Leading economist

N. A. Telepanova

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