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On 7 February 2019, Law No. 2473-VIII "On Currency and Currency Operations" ("Law") and Regulation No. 5 dated 2 January 2019 ("Regulation") of the National Bank of Ukraine ("NBU") became effective. The Regulation significantly liberalizes currency control regulations for individuals, making it easy for Ukrainian employees to exercise options for shares of foreign companies.

Particularly, the NBU license for investment abroad is no longer necessary for employees and other Ukrainian citizens to purchase shares of foreign issuers. They will also be able to pay for shares in the amount of up to EUR 50,000 per year without having to obtain any licenses. The daily limit of payments is UAH 150,000 (about USD 5,400) in one bank.

Due to the liberalization of currency control regulations, stock options can now be easily exercised by Ukrainian employees (within the abovementioned limits).

For a concise summary of all current changes to currency control regulations, please click here.

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