Residents effecting business activities in the territory of Ukraine (legal entities and private entrepreneurs)) can receive credits, loans and returnable financial aid in foreign currency from non-residents.
However, before the receipt of the funds it is necessary to complete the procedure of registration of the Agreement in the National Bank of Ukraine (hereinafter - the "NBU"), which consists of the following steps:
- drafting of the Agreement;
- approval of the draft of the Agreement with the servicing bank (the bank where you have the account and that will deal with operations according to the of the Agreement);
- signature of the Agreement;
- submitting of the signed and translated (if necessary) Agreement and signed notice to the servicing bank;
- submitting of the set of documents by the servicing bank to NBU;
- registration of the Agreement by the NBU;
-monthly filling and submission statements that reflect the current cash flows (enrolling of the amount of credit/loan/financial aid to the account of the beneficiary, return and payment of interest) and planned cash flows to the servicing bank.
The key to quick registration is proper drafting of the Agreement. Our experts will help you not only to make the text of the Agreement, as they successfully passed the procedure more than once, but also to coordinate it with the bank and provide legal services at all stages of the procedure.
To start working you will need to decide on the essential terms of the Agreement and provide us with information regarding:
- the type of contract (credit, loan, returnable financial aid);
- full name of the parties to the Agreement;
- the amount of credit / loan / returnable financial aid;
- the way of enrolling of the credit / loan / returnable financial aid: once in total amount or in parts (please indicate the amounts and terms);
- period of the return of credit / loan (short-term - up to one year or long-term - more than one year)/ returnable financial aid (because of the terms the different tax consequences may appear);
- terms of the return of credit / loan / returnable financial aid (total amount or in parts):
- the interest rate (for loan / credit);
- the conditions of payment of interest (frequency - once a quarter, month, six months, etc.);
- liability for breach of the Agreement;
- what the court will deal with disputes (if any);
- language/s of the Agreement.
Our specialists will give you consultation regarding each point of the Agreement and after the registration of the Agreement (or amendments to the Agreement) to help with the preparation and submission of reports to the servicing bank (if necessary).
If you have the opportunity to draw foreign currency funds from non-residents, we will help you to succeed in this procedure quickly and accurately.