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NBU Made a Number of Additional Changes for Introduction of Escrow Accounts

29 December 2017

Press Release


The National Bank of Ukraine has brought the regulatory framework in line with the recent amendments to Ukrainian legislation, including for the full introduction of escrow accounts. 


First, the amendments regulate the use of escrow accounts by foreign investors when conducting investment activities in Ukraine. Thus, foreign investors are granted the right to use escrow accounts to make any foreign investments in Ukraine (purchase/sale of real estate, corporate rights, securities, etc.).


Second, it provides for a simplified procedure for the foreign currency purchase in operations for the return of foreign investments in connection with the sale of shares by a foreign investor under squeeze-out procedure.


Third, the authorized banks are granted with the right to grant the export loans in the foreign currency to the foreign buyers of Ukrainian goods. The current version of the NBU regulatory framework stipulates the authorized lending bank can grant external loans in the foreign currency only to foreign borrowing banks.


Respective measures are prescribed by NBU Board Resolution No. 147  On Amendments to Some Regulatory Documents of the National Bank of Ukraine dated 28 December 2017 which enters into effect on 30 December 2017.


Last modification   29.12.2017