Bank accounts for business: The National Bank proposes new rules
3 February 08:15
The National Bank of Ukraine proposes to update the procedure for opening and closing accounts for users by providers of payment services for account maintenance. This is reported by the regulator’s press service, Komersant ukrainskyi informs.
It is noted that the purpose of the update is to simplify the procedure for opening and closing accounts for certain categories of users, as well as to bring it in line with the requirements of the law.
Separate subdivisions and representative offices of non-resident legal entities will no longer submit copies of tax registration documents to banks – this information will be available in the Unified State Register (USR). Also, representative offices of foreign companies that do not conduct business in Ukraine will not have to submit a copy of their registration certificate.
The draft law provides for a procedure for opening a correspondent account for the European Investment Bank, and simplifies the opening of payment accounts for Ukrainian legal entities, individual entrepreneurs and individuals in financial institutions.
In addition, the NBU plans to:
- regulate the issue of closing accounts of foreign representative offices in case of their liquidation or termination of activities, as well as clarify the procedures for changing the accounts of individual entrepreneurs who have ceased business activities
- to regulate the transfer of funds to users in the event of license revocation or bankruptcy of payment institutions. It also provides for the right to open accounts for representative offices of foreign companies whose information has not yet been transferred to the Unified State Register.
The relevant provisions are contained in a draft resolution of the NBU Board. The regulator accepts comments and suggestions until February 19, 2025.