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Transportation of currency values

According to the Article 197.2 of the Customs Code of Ukraine (hereinafter - the Code), restrictions on the import to the custom territory of Ukraine and export of currency values outside the custom territory of Ukraine, as well as the procedure for its transportation across the custom border of Ukraine, including the peculiarities for the declaration of currency values (in particular, determination of limit values of currency values that are subject to written or verbal declaration) may be established by the National Bank of Ukraine.

From 07.02.2019 the Law of Ukraine of June 21, 2018, № 2473-VIII "On Currency and Currency Transactions" has been introduced and established that:

currency values - is the national currency (hryvna), foreign currency and bank metals (paragraph 4 of Article 1);

term "banking metals" is used in definition stipulated by the Law of Ukraine "On State Regulation of Production and Use of Precious Metals, Precious Stones and Control over its Transactions" (Paragraph 2 of Article 1);

transboundary transfer of currency values by individuals in amount equal to / or exceeding the equivalent of 10.000 euros at the official exchange rate established by the National Bank of Ukraine on the day of transfer across the custom border of Ukraine must be set in written declaration to the central executive entity implementing the state tax and customs policy in the manner determined by the Cabinet of Ministers of Ukraine (Part 1 of Article 8).

 

Regulation on the transboundary transfer of foreign currency values approved by the Resolution of the Board of National Bank of Ukraine dated January 2, 2019 № 3, in particular prescribes that:

individual who imports to Ukraine and exports outside Ukraine cash and bank metals in amount not exceeding the equivalent of 10.000 Euros without written declaration to the customs authority;

individual who imports to Ukraine and exports outside Ukraine cash and bank metals in equal or exceeding amount of 10.000 Euros by the condition of its full written declaration to the customs authority.

According to Part 6 Article 257 of the Code, the conditions and procedure for declaring, the list of information required for the implementation of custom control and custom clearance are determined by the Code. Provisions on custom declarations and forms of these declarations are approved by the Cabinet of Ministers of Ukraine and the procedure for filling such declarations and other documents applicable during the custom clearance of goods, vehicles of commercial purpose is approved by the central executive entity that ensures the formation and implementation of state tax and customs policy.

Issues related to the application of custom declarations are regulated by the Resolution of the Cabinet of Ministers of Ukraine dated May 21, 2012 №. 450.

In particular, Clause 6 of Paragraph 8 of the Regulation on customs declarations establishes that the declaration on the transboundary transportation of currency values by individuals (hereinafter - the Declaration on the transboundary transportation) is used in the following cases:

to declare the cross-border transportation of Ukrainian currency, foreign currency and bank metals by individuals in an amount equal or exceeding the equivalent of 10.000 Euros;

for the written declaration of payment documents and securities (shares, bonds, coupons, bills of exchange (ruble), debt receipts, letters of credit, checks, bank orders, deposit certificates, other financial and banking documents) expressed in the currency of Ukraine, in foreign currency or bank metals, the total invoiced value of which exceeds the amount established by the Code for the declaration of goods transported by citizens.

 

Form of the blank for the Declaration on the transboundary transportation has been approved by the Resolution of the Cabinet of Ministers of Ukraine dated February 27, 2019 №. 203 "Some issues of transboundary transportation of currency values by individuals" (hereinafter - Resolution № 203).

Paragraph 2 of Resolution № 203 stipulates that the blanks for the Declaration of transboundary transportation may also be printed by computer equipment or copying on A4 sheet paper (210 x 296 millimeters) in the form approved by this resolution by individuals.

According to the order on filling the Declaration of transboundary transportation, indicated on the reverse side of declaration blank with the completed declaration for custom control and custom clearance of goods, a citizen or authorized individual must submit the following documents:

documents that certify individual and confirm the country of permanent residence of a citizen or an authorized individual;

documents that confirm the withdrawal of cash from personal bank accounts and the purchase of bank metals in banks and / or in the National Bank specified in Paragraph 18 of the Resolution of the Board of National Bank of Ukraine dated January 2, 2019 № 5 "On Approval the Provisions on Protection Measures and Determining the Implementation Procedure on individual transactions in foreign currency" according to which, individuals-residents carry out foreign exchange transactions on the transboundary transfer of foreign currency values by their export / transfer outside Ukraine in the total amount exceeding the equivalent of 10.000 Euros on the day of export / shipment on the basis of documents that confirm:

that individual withdrew this cash from personal bank account and the receipt on the execution of currency exchange transaction with that cash (in the case of such transaction) solely on the amount exceeding the equivalent of 10.000 Euros on the day of export / shipment;

the acquisition of banking metals in banks and / or in the National Bank exclusively on the amount exceeding the equivalent of 10.000 Euros on the day of export / shipment by individual.

Documents that confirm the withdrawal of cash from personal bank account by resident-individual for the purpose of its export are valid within 90 calendar days from the date of cash withdrawal.

 

Additional materials

Resolution of the Cabinet of Ministers of Ukraine dated February 27, 2019 № 203 "Some Issues of Transboundary Transportation of Foreign Currency by Individuals"

Resolution of the Board of the National Bank of Ukraine dated January 2, 2019 № 3 "On Approval of the Regulation on the Transboundary Transportation of Foreign Currency Values"

Resolution of the Board of the National Bank of Ukraine dated January 2, 2019 №. 5 "On Approval of the Regulations on Protection Measures and Determining the Procedure on the Execution of Certain Transactions in Foreign Currency" (with amendments)