Ukrainians to be allowed to take into country over EUR 10,000 with no supporting paperwork

The National Bank of Ukraine (NBU) has simplified the procedure for residents to take foreign currency into Ukraine by allowing them to take in funds worth more than the equivalent of EUR 10,000 without documents proving their origin in case of citizens file a written declaration with the customs authority, according to the NBU's website with reference to Resolution No. 127, which comes into force December 14.

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The regulator recalled that now Ukrainian individuals can import into Ukraine cash worth more than the equivalent of EUR 10,000 with documents confirming the withdrawal of cash from accounts in financial institutions and receipts for the implementation of a currency exchange transaction.

"In the future, Ukrainians will be able to import such a sum without supporting documents, i.e. only in case they file a full written declaration with the customs authority," the report says.

Read alsoCentral bank says inflation in Ukraine to exceed forecast level by year-endAt the same time, the National Bank specified that the export of cash worth more than the equivalent of EUR 10,000 by individuals outside the territory of Ukraine is permitted if there are documents confirming the withdrawal of cash from personal accounts in banks and a receipt for a currency-exchange transaction when it is conducted for an amount exceeding the equivalent of EUR 10,000.

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