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The NBU License

The NBU license is an authorization document for banking activities, which allows entities to engage in financial activities Concerning attracting cash deposits, issuing consumer loans.

Features of issuing the appropriate license:

NBU license the license is issued for 30 days. If we consider this issue from a formal point of view, the banking license does not have a Statute of limitations. Despite this, the National Bank regularly checks commercial banking organizations for compliance with legal norms. If there are any defects, it is possible to revoke the license received.

The Bank license is issued only by the National Bank of Ukraine.

It is not easy to obtain such a license, since institutions must fully meet the list of requirements.

Mandatory requirements for obtaining permits for banking activities:

  • an important condition is that the authorized capital must be at least 500 million hryvnias;
  • it is necessary to have appropriate premises (lease agreement, purchase and sale) that are located in non-residential Fund;
  • to open a financial institution, the state must employ competent employees who have the appropriate qualifications;
  • there must be at least three members of the management board who have specialized qualifications and experience in management activities.

Formation of the established capital of banks can be carried out exclusively at the expense of personal funds of participants. It is not recommended to use money taken on credit or that is owned by the state. It is forbidden to increase the authorized capital by redistributing profits. In addition, it is strictly forbidden to increase it to cover any losses. Participants have the opportunity to make a deposit only in the state currency.

Currency transactions licensing

The National Bank of Ukraine is engaged in providing permits for currency transactions. The General license is granted for the entire period of currency regulation for banks established on a commercial basis and any other financial institutions, enabling entities to engage in currency transactions for a long period of time.

To perform a single transaction using a currency, residents and non-residents must have an individual license for certain operations.

Kasyanenko & Partners Law Company lawyers will provide you with a wide range of services to ensure prompt obtaining of the necessary permits.

It is mandatory to have a license for such activities with currency values:

  • when carrying out import or export, transfer, transfer both to Ukraine and abroad (except for operations that exceed the limit set by the NBU);
  • obtaining loans in foreign currency when the terms and amounts of lending exceed the limits and limits provided for by current legislation;
  • use of foreign currency on the territory of the country in the form of payment funds or collateral (in addition to making payments for goods and services provided in the territories that are temporarily occupied);
  • making investments abroad (as an exception: the subject of investment may be a right or value that is received by resident individuals as an inheritance). It is possible to provide investments not only to obtain material benefits, but also to achieve any social goals.

It should be clarified separately that the license is necessary only for one of the parties involved in the operation.

How can I get an individual NBU license?

The process of obtaining a NBU license is a fairly painstaking task that will require the organization to have a certain level of knowledge not only in the field of financial law, but also licensing. Due to the fact that Kasyanenko & Partners Law Company lawyers have extensive practical experience and high qualifications, clients are provided with the necessary permits in the shortest possible time.

Regulation and provision of permits are carried out at the expense of individual acts of the National Bank of Ukraine and fully depend on the types of transactions performed using the currency for which permission is required.

It should be remembered that it is possible to get an individual license from the NBU only until the operations themselves are performed.

Registration of permits is a fairly complex and time-consuming process. To do this, you will need to have special knowledge in the legal and economic sphere, as well as in licensing. The best solution is to appeal to professionals who have high qualifications and impressive practical experience.

By contacting Kasyanenko & Partners Law Company you can count on:

  • providing detailed and qualified legal advice;
  • support of the procedure at all stages;
  • assistance in selecting the type of license that can provide the client with the most efficient execution of a currency transaction with the lowest costs;
  • collection and analysis of necessary documentation by our specialists;
  • in all institutions of the city of Kyiv, specialists provide representation of the client’s interests;
  • obtaining the necessary license as soon as possible.

Dmytro Kasyanenko

Lawyer, managing partner of the Kasyanenko & Partners Law Firm. Since 2002, he has gained extensive legal experience in key positions in business structures and the public sector in the field of law and finance.

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