The foreign companies will be able to open accounts in Ukrainian banks

The National Bank of Ukraine has provided an opportunity to open accounts for subjects of the financial market of Ukraine - non-resident legal entities, including foreign investment funds and asset management companies that act on behalf of such funds.

The National Bank had to radically revise and change its old Instruction on opening and closing Bank accounts. The amendments to the Instruction came into force on April 4^th.

At the moment, there are clear rules and procedures for opening/closing accounts; in particular, the procedure for opening an account has been significantly simplified due to such innovations as:

• cancellation of the provision of signature cards by clients when opening accounts. The account will be managed on the basis of the list of persons who have the right to do so under the law;

• a change in the name of the entity will not involve the closure of existing accounts.

Nevertheless, despite the simplification of the procedure for opening an account for non-residents, the national Bank has tightened measures to combat money laundering and the financing of terrorism.

On materials of the following website: https://bank.gov.ua/document/download?docId=91511445