The National Bank of Ukraine has simplified the order of money transfers abroad

Today, on the 2nd of March, the NBU has introduced the next innovation to the Rules of money transfers, which seem to be positive for Ukrainian residents. It shall be clarified that the rules deal exclusively with non-commercial transfers.

First, the National Bank now has its own interpretation of who are “relatives” in the legislative sense. This clarification was necessary because the rules cover, inter alia, money transfers, which aim at help for relatives, but it was not explained, whom this notion includes. Thus, parents, stepfather, stepmother, children, stepchildren, step-daughter, grandmother, grandfather, great-grandmother, great-grandfather, grandchildren, great-grandchildren, siblings (full- and half-siblings), cousins, aunt, uncle, niece, nephew, adoptive parent, adopted child, guardian or trustee, a person under guardianship or trusteeship, husband, wife – all of them are considered to be “relatives”.

The second innovation is that taxpayers are now able in some cases to submit documents, printed from the Internet (from web-sites of the recipients of such funds).

Such cases include:

a) payment of court fees and other official fees abroad;

b) payment of invoices related to the provision of treatment and transportation of patients;

c) payment of expenses associated with studies at foreign universities;

d) payment  for the participation in international conferences and other projects;

e) payment of funds for the purchase of foreign literature and other publications;

f) payment of state fees for acts related to the protection of intellectual property, including payments for attorneys and patent offices;

g) payment of expenses related to the funeral of a person abroad;

h) payment of money for goods, services or rights that are acquired by foreigners outside Ukraine for personal purposes;

i) payment of charges resulting from the adoption of the inheritance;

j) payment of charges arising from decisions taken by the judicial and law enforcement authorities.