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NBU equated Crimean residents to non-residents

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NBU equated Crimean residents to non-residents
Photo: Ivan Chernichkin

Based on the National Bank’s decree No. 699 of November 3, NBU has equated the Crimean residents to non-residents of Ukraine.

“To establish, that for purposes of the application of the legal acts of the National Bank of Ukraine, an individual, located (registered/who lives) on the territory of the free trade zone in Crimea, is equated to a non-resident (for the investment operations – to the foreign investor); agreements, approved by the subjects of Crimea and subjects located (registered/who permanently live) on the rest territory of Ukraine, are equated to the documents which are used instead of the foreign economic agreements (contracts) during the application of the legal acts of the National Bank of Ukraine,” according to the decree.

The transfers (payments) from mainland Ukraine to the territory of Crimea or from the territory of Crimea to mainland Ukraine are carried out under the procedure provided by the legal acts of NBU for the remittance operations outside of Ukraine/ in Ukraine, according to the document.

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