NBU will allow businesses to repatriate dividends for 2023

The National Bank will allow businesses to repatriate dividends for 2023.

This is stated in the NBU's message, the Ukrainian News agency reports.

"The NBU will allow enterprises to transfer dividends abroad for 2023 within the general limit, which will continue to be EUR 1 million in equivalent per month. Therefore, businesses will have the opportunity to partially repatriate dividends for the period of activity that began on January 1, 2023 (and not on January 1, 2024, as is currently the case)," the message says.

According to the NBU's estimates, this will not generate significant additional demand for currency, given the general limit, and at the same time will contribute to increasing the confidence of foreign investors in Ukraine and attracting new foreign investments.

In addition, businesses will be able to use foreign currency liquidity repatriated in the form of dividends abroad for other purposes, in particular to meet debt obligations.

As the Ukrainian News agency earlier reported, the National Bank has introduced managed exchange rate flexibility from October 3, 2023. The NBU has abolished all currency restrictions on the import of works and services and allowed the repatriation of "new" dividends.