BANK SICH operates as the authorized bank when books foreign exchange transactions incompliance of the NBU’s limitations.
As provided by the provision on protection and determination of a procedure of certain transactions in foreign currencies approved by the Resolution No 5 of the Board dated January 02, 2019, a resident individual entity (not including entrepreneurs) may transfer funds in foreign currencies from Ukraine in order to:
- place money on their account beyond Ukraine;
- invest abroad (for example, to purchase shares of foreign companies, real estate etc.);
- fulfill their liabilities before a non-resident under a life insurance agreement;
- to grant a loan to a non-resident (reimbursable financial assistance) in a foreign currency.
An individual may transfer foreign currency abroad within one calendar year in the total amount up to EUR 200,000.00, included (equivalent in other currency/UAH at the NBU rate at the date of transaction). The above named transactions are performed within the determined limits (hereinafter – Е-limits) in the authorized bank through the Authorized Information System “E-limits”.
Е-limits apply to currency transactions of individuals, provided that such transactions are performed by individuals for their own purposes and are not related to their business.
Transactions of remittance of foreign currency abroad, within the E-limits, are available for resident individual entities that hold accounts with JSC “BANK SICH”.
Foreign currency is remitted from a customer’s account in the currency of transaction or from UAH account with a cashless purchase of currency.
To perform a currency transaction, an individual shall present the following documents:
- application for remittance of foreign currency abroad, within the E-limits, signed by such an individual (an applicant);
- confirmation (documents/information) of financial capacity/source of finance of an individual (applicant) which makes it possible to perform or initiate foreign currency transactions in an appropriate amount;
- original documents* confirming the purpose of remittance from Ukraine (agreement, invoice and/or other documents used in the global best services). If needed, the Bank may require additional information/documents. Such documents should have a name/last name, name, patronymic name (if any), country of stay/place of residence of a payee, name and country of location of a bank and account details, name of currency, amount of remittance payable, and a purpose of remittance.
* Documents may not be submitted, if:
– money are placed on their account beyond Ukraine by a residence.
If foreign currency is remitted abroad, within the E-limits, with the purposes of fulfillment of personal liabilities before a non-resident under life insurance agreement/investments abroad/granting of loan to a non-resident (reimbursable financial assistance) in a foreign currency, confirming documents shall be submitted regardless of amount remitted.
Original documents shall be submitted to the Bank as hard copies.
Documents in a foreign language (apart from documents made both in a foreign language and in the Russian or Ukrainian language) shall be translated into Ukrainian. Translation shall be certified by a certified translator (translator’s signature must be notarized) or by notary.
Documents submitted by a resident individual entity (an applicant) with the purposes of a foreign currency remittance abroad, within the E-limits, shall be reviewed by the Bank within 1 business day from the date when the Bank received all the documents required for such a transaction.
Authorized Bank shall notify an individual entity that transaction is registered in the Authorized Information System “E-limits” or annulled, by providing information from the register.
The Bank may perform a foreign currency transaction only after the message from the National Bank of Ukraine, though the Authorized Information System “E-limits”, but not later that the next business day after such a message.
For more information please call us at: +38(044) 207-14-93