It is already a tradition that the Ukrainian currency regulation framework is included in the list of key constraints to foreign investment coming into the country. Why is this the case? Basically, the currency regulation regime partly determines the investment attractiveness of every state…

Ukrainian Currency Control Legislation. Any Improvements?

Iryna O. Nikolayevska

This spring Ukrainian currency control legislation has been dramatically changed once again. On 15 May 2010 On Amendment of Certain Legislative Acts of Ukraine (Regarding Bank Loans and Foreign Investment Encouragement) Act of Ukraine No.2155–VI (Act) came into force…

NBU Permission System

Yanina I. Ignatenko, Anna A. Ivanchenko

Ukraine as any other country is open for foreign investments if it has advantages and favourable rules of currency regulation, which make it an attractive field of investment activity and allow foreign investors to place their funds freely into our economy…

Registration of Cross-Border Agreements and Market Practice

Oleg P. Zagnitko, Kseniya V. Ostrovska

The crisis of Ukrainian financial markets makes it difficult and expensive to secure debt financing from Ukrainian banks. Though foreign capital is relatively affordable the “effective interest rate” and its complex calculation imposed by the NBU restrict such financing…

Legal Aspects of Investing Abroad

Alexander S. Zadorozhnyy, Tatjana A. Khrystyuk

For a number of economic, political and sometimes even personal reasons, certain Ukrainian residents prefer to invest abroad. Ukrainian law distinguishes between certain types of foreign investment: currency investments and property investments…/p>

Enforcement of Court Judgments Rendered in Foreign Currency in Ukraine

Markian M. Malskyy, Tetyana V. Berezenska

Even though Article 533 of the Civil Code of Ukraine determines that money liability is to be fulfilled predominantly in Hryvnias, foreign currency remains the currency of business in Ukraine. Taking into consideration the reputation of the Hryvnia, businesses try to hedge themselves by tying the payments, which are to be effected in Ukrainian currency, to foreign currency — most often to the EUR or USD…

English Law: Insider View

The cross-border character of business made legal practitioners invent and apply new legal solutions for structuring certain deals, transactions and resolving emerging matters. In Ukraine English law is applied to secure business projects because it is considered that English law is more understandable for foreign counterparts than Ukrainian…

Appointment of Interim Administrations in Insurance Companies

Dr. Viktor M. Dovhan

The appointment of interim administrations in insurance companies has recently become a widely debated issue in the press between officials of the State Commission for Regulation of Financial Services Market’s (the SCRFSM) and players on the insurance market. The discussion was provoked by the current situation on the Ukrainian insurance market, which has been suffering badly due to the financial crisis…

Recognition and Enforcement Procedure in Ukraine: Reload

Pavlo I. Byelousov, Olena S. Perepelynska

In 2010 the long expected legislative amendments to the rules governing the procedure of recognition and enforcement of foreign civil and commercial judgments and arbitral awards in Ukraine were introduced by the On Amending Certain Legislative Acts of Ukraine in respect of Regulating Private International Law Issues Act of Ukraine No.1837-VI (the Act No.1837)…

Events in Photo Facts

Party "Hey you, smarty — let’s have a corporate party!" after ІV Annual Corporate Law Forum, Golden Gate Pub…

International Corporate Solutions 2010 — Ukraine Conference

Alena A. Chernyavskaya

Businessmen, representatives of government bodies, CEO and CFO, leaders of Cypriot companies and financial institutions gathered on 12 November 2010 at the Premier Palace Hotel in Kiev to take part in the IV Annual Conference International Corporate Solutions 2010 — Ukraine organized by Bosco Conference…