A loan from a non-resident

A loan from non-residents is a reliable low-interest method of funds attracting, and a good alternative to bank credits with high interest rates.

Three members figure at the organization of such loans:

• a resident – borrower;

• a non-resident  – creditor;

• an authorized bank in Ukraine that agreed to serve operations at the contract.

There are maximum interest rates set by the Ukrainian government. They are: for loans with maturities up to 1 year – not more than 9.8% per annum; if the loan lasts from 1 to 3 years – not more than 10% per annum; if the loan agreement is concluded for more than 3 years – the rate counts of 11% per annum. The minimum rate is not set.

Such an agreement is to be registered in the National Bank of Ukraine (hereinafter – the NBU) by the borrower.  The agreement is considered to be valid only after registration.

Though the registration is held by the NBU, the borrower must submit necessary documents to the servicing bank. This bank examines the agreement and during 4 days sends it further to the NBU. Resident is obliged to submit an original of the agreement (will stay at the servicing bank) and a notification of agreement. Recently, the NBU and Ukrainian parliament have changed their position concerning the possibility of an early repayment of debt by the residents.  Legislative variability was caused by the unstable position of national currency and financial crisis in Ukraine. The registration of additional agreements reducing the terms of payment was forbidden as well. Nowadays an early repayment ban is abolished.

For the development of loan agreements with residents and non-residents, registration of such  loan or for other legal services please call:

+38 096 002 01 00, +38 050 431 70 84 E-mail: http://juresprudency.com.ua