This resolution cancels a number of regulatory acts that regulated the procedure for foreign investments by Ukrainian residents and related procedures.
Structurally, the document consists of two parts: the resolution itself and a list of acts that are losing their validity. The main among the canceled acts is the CMU Resolution No. 229 from 1996 on the procedure for issuing individual licenses for property investments abroad by residents. Additionally, 7 other resolutions that introduced amendments to the base document during 1998-2016 are being canceled.
Key provisions:
1. The system of individual licensing of residents’ investments abroad is being abolished
2. The mechanism of control over the use of property values invested outside Ukraine is losing its validity
3. All related regulatory acts that regulated this sphere over the past 25+ years are being terminated
The document relates to currency regulation and may have an impact on tax legislation in terms of taxation of foreign investments.
