Due to amendments to Ukrainian laws, the NBU Board adopted Resolution No. 346 On approval of amendments to Instruction on the procedure of opening, usage and closing of accounts in domestic and foreign currencies  on 14 June 2016.

Resolution No. 346:

• brings Instruction on the procedure of opening, usage and closing of accounts in domestic and foreign currencies approved by the NBU Board Resolution No. 492 of 12 November 2003 in line with new requirements of Ukrainian laws;
• cancels requirements regarding submission to banks while opening accounts of:

a) constituent documents copies - for legal entities registered after 1 January 2016;

b) copies of registration certificates - for parties/ local party organizations.

• defines the procedure for opening current account by liquidator in the name of bankrupt individual;
• provides the individual’s right to use his identification data retrieved by servicing bank while its identification and verification when receiving administrative services.

Therefore, National Bank of Ukraine provides compliance with applicable laws of Ukraine regarding facilitating business activity.

Regulation No. 346 comes into force on 16 June 2016.