A law on expanding the list of permitted currency transactions was signed

12.08.2020

A law on expanding the list of permitted currency transactions, as well as cases of money repatriation, was signed.

Such cases include, among others, the following monetary funds:

  • paid as a refund of funds previously paid by a representative office or branch of a resident legal entity for goods returned to a non-resident, for services paid to a non-resident (not rendered or rendered improperly), for transactions related to the activities of a representative office or branch of a resident legal entity, except for transactions involving foreign trade activities;
  • previously deposited by the representative office or branch of the resident’s legal entity in the form of a Deposit under the lease agreement, returned by a non-resident;
  • paid in the form of insurance payments made by non-resident insurers. In addition, the law requirements on currency regulation apply to cash and other financial assets in banks and other financial market organizations.

News