E-residents are allowed to open current accounts in Ukrainian banks

The National Bank of Ukraine granted the right to electronic residents (hereinafter referred to as e-residents) to open current bank accounts. This is enshrined in the Resolution of the Board of the NBU dated March 03, 2023 No. 18.

What’s new?

• e-resident – can open an account with a bank with which the Ministry of Digital Transformation has entered into an appropriate agreement;

• the bank can close the e-resident’s current accounts on the basis of information received from the E-resident information system about the termination of the e-resident’s business activities and transfer the balance of funds from the current accounts of this client to his own account opened outside Ukraine, details which are specified in the contract.

• The National Bank detailed the list of non-bank payment service providers entitled to open payment accounts for users.

The rules regarding e-residents will come into force on April 01, 2023.

Vitalii Kulakov

Senior partner,PhD in law

Phone: +380 672335058

e-mail: [email protected]