Ukraine: Finance and Banking

Ukrainian businesses with foreign bank accounts face specific reporting obligations to the National Bank of Ukraine (NBU). Understanding when these requirements apply, what information must be disclosed, and how to comply with statistical reporting rules is essential for companies operating across borders.

The National Bank of Ukraine has introduced significant changes to foreign currency restrictions, expanding opportunities for individuals to purchase and use foreign currency, make cross-border payments, and conduct investment transactions. These regulatory amendments also provide Ukrainian companies with greater flexibility for international business operations, including new incentive-based liberalisation mechanisms and enhanced support for export activities.

Ukraine has adopted a comprehensive new factoring law that harmonizes its legal framework with international standards, specifically the UNIDROIT Model Law on Factoring. The legislation establishes clear definitions, requirements, and protections for factoring agreements while eliminating regulatory conflicts by transferring factoring regulation from the Civil Code to dedicated legislation.