Author Topic: Money import limitations  (Read 155 times)

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Offline BobLviv

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Money import limitations
« on: 12:19 05-Sep-2020 »
As I understand, a foreigner can import foreign valuta to a max of UAH150.000 (about Euro 4500) per day. Correct ?
In addition, how many times could he do this, or rather, what is the limit to this per month/year before becoming an issue for the local tax man?
Does anyone know whether such import is registered somewhere as such that the limit per month/year will be verified?
Where to find such information on-line or is there a specialist here to bring some light?
Thks in adv.


Online David Rochlin

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Re: Money import limitations
« Reply #1 on: 17:52 05-Sep-2020 »
Let's be clear that there is a huge difference between limits on bringing foreign banknotes/currency into the country through customs and wiring funds.  Over a certain amount, cash has to be declared at customs, but I don't think that means you can't bring more cash in, just that you have to declare it and explain it on the form. 
I doubt there is any limit on electronic transfers into UA, as a wire to a UA dollar bank account, but there may be limits on how much you can transfer using money transfer services.  Those limits may relate to laws and regulations on the Western side more than anything on the Ukrainian side of the transactions.  Any transfer of funds to UA should be documented to minimize obstacles sometimes erected to prevent large suspicious sums from being sent out of Ukraine.

Offline BobLviv

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Re: Money import limitations
« Reply #2 on: 19:07 05-Sep-2020 »
Let's be clear that there is a huge difference between limits on bringing foreign banknotes/currency into the country through customs and wiring funds.  Over a certain amount, cash has to be declared at customs, but I don't think that means you can't bring more cash in, just that you have to declare it and explain it on the form. 
I doubt there is any limit on electronic transfers into UA, as a wire to a UA dollar bank account, but there may be limits on how much you can transfer using money transfer services.  Those limits may relate to laws and regulations on the Western side more than anything on the Ukrainian side of the transactions.  Any transfer of funds to UA should be documented to minimize obstacles sometimes erected to prevent large suspicious sums from being sent out of Ukraine.

Thanks for the reaction. Actually I was after the info for usage of transfer services. I remember when I opened a bank account here, it was said UAH 150.000 per day, if I remember well. But there was an amount mentioned too as a maximum over a certain time period, which I all forgot ;( Hence, the question.

Online K24

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Re: Money import limitations
« Reply #3 on: 07:23 06-Sep-2020 »
Какую максимальную сумму можно перевести из-за рубежа в Украину?
Рrostobank.ua выяснил, кто вводит ограничения, как можно однократно перевести большие суммы.

Зачисления на текущие счета физических лиц ? резидентов и нерезидентов переводов из-за рубежа и дальнейшая их выплата с этих счетов осуществляется без ограничений по суммам.

Иностранная валюта, переведенная из-за рубежа для выплаты наличными без открытия счета, может быть выплачена в один операционный (рабочий) день в сумме, которая в эквиваленте не превышает 150 000 гривен. В случае если эквивалент суммы превышает 150 000 гривен, вся сумма зачисляется на текущий счет получателя.

При переводе средств из-за рубежа в Украину ограничения вводятся банком-отправителем и законодательной базой страны отправляющей перевод.

(https://www.prostobank.ua/denezhnye_perevody/stati/tonkosti_denezhnyh_perevodov#8)

But not sure how up to date this is.  And if you do this every day within these limits for many many many times, I would suspect you might still be investigated for potential money laundering

Offline BobLviv

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Re: Money import limitations
« Reply #4 on: 08:11 06-Sep-2020 »
Какую максимальную сумму можно перевести из-за рубежа в Украину?
Рrostobank.ua выяснил, кто вводит ограничения, как можно однократно перевести большие суммы.
Зачисления на текущие счета физических лиц ? резидентов и нерезидентов переводов из-за рубежа и дальнейшая их выплата с этих счетов осуществляется без ограничений по суммам.
Иностранная валюта, переведенная из-за рубежа для выплаты наличными без открытия счета, может быть выплачена в один операционный (рабочий) день в сумме, которая в эквиваленте не превышает 150 000 гривен. В случае если эквивалент суммы превышает 150 000 гривен, вся сумма зачисляется на текущий счет получателя.
При переводе средств из-за рубежа в Украину ограничения вводятся банком-отправителем и законодательной базой страны отправляющей перевод.
(https://www.prostobank.ua/denezhnye_perevody/stati/tonkosti_denezhnyh_perevodov#8)
But not sure how up to date this is.  And if you do this every day within these limits for many many many times, I would suspect you might still be investigated for potential money laundering

Thanks for the addition. It indeed confirms and further explains part of my query ;)
The page received its latest update in Sept 2010, it says somewhere at the very bottom. So may be considered still valid as is ;)

Offline sha

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Re: Money import limitations
« Reply #5 on: 19:00 15-Oct-2020 »
#
Does anyone know whether such import is registered somewhere as such that the limit per month/year will be verified?
Where to find such information on-line or is there a specialist here to bring some light?#

This is registered. There is no problem with larger amount. But. This must be verified by identification, transfer bank notification, purpose of transaction etc. Best way to start is with your transfer bank. They can help and they are likely to have a correspondent bank. It is all about money laundring, and if you are fine - you will not have a problem. If you are uncertain you can check for bilateral tax agreement between you domestics and Ukraine. If the amount is higher I advice that you seek towards your normal legal and tax adviser.

Offline BobLviv

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Re: Money import limitations
« Reply #6 on: 19:08 15-Oct-2020 »
This is registered. There is no problem with larger amount. But. This must be verified by identification, transfer bank notification, purpose of transaction etc. Best way to start is with your transfer bank. They can help and they are likely to have a correspondent bank. It is all about money laundring, and if you are fine - you will not have a problem. If you are uncertain you can check for bilateral tax agreement between you domestics and Ukraine. If the amount is higher I advice that you seek towards your normal legal and tax adviser.
Thanks for that.
One more question, if you would know ...
Bringing in money through e.g. Western Union, is that registered in the same way with similar limitations as such? How does that work in relation to money laundering?

Online K24

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Re: Money import limitations
« Reply #7 on: 13:19 16-Oct-2020 »
I think it is the same in principle, but not so interesting for the relevant authorities because the amounts are smaller and the identification requires more time since no tax code is required.  I have also noticed Ukrainians I have transferred money to to be less concerned with Western Union, but they might just not know...
« Last Edit: 03:50 17-Oct-2020 by K24 »

Offline BobLviv

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Re: Money import limitations
« Reply #8 on: 16:17 16-Oct-2020 »
I think it is the same in principal, but not so interesting for the relevant authorities because the amounts are smaller and the identification requires more time since no tax code is required.  I have also noticed Ukrainians who I have transferred money to to be less concerned with Western Union, but they might just not know...
I just noticed the favourable low fee in my situation. Hence, I do use it as such. Since I'm not in a hurry, I could go step by step ;)

Online David Rochlin

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Re: Money import limitations
« Reply #9 on: 04:08 18-Oct-2020 »
This is registered. There is no problem with larger amount. But. This must be verified by identification, transfer bank notification, purpose of transaction etc. Best way to start is with your transfer bank. They can help and they are likely to have a correspondent bank. It is all about money laundring, and if you are fine - you will not have a problem. If you are uncertain you can check for bilateral tax agreement between you domestics and Ukraine. If the amount is higher I advice that you seek towards your normal legal and tax adviser.
Thanks for that.
One more question, if you would know ...
Bringing in money through e.g. Western Union, is that registered in the same way with similar limitations as such? How does that work in relation to money laundering?
Western Union will set monthly limits and ban customers from using the service, if they seem to use it too often.  So, only a money launderer transferring petty cash would try it with them.