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2 July 2015

Legal alert: National Bank of Ukraine Liberates Maximum Interest Rate Limitations in Order to Facilitate Restructuring of Certain Foreign Loans Raised by Ukrainian Borrowers

The National Bank of Ukraine (the “NBU”) has adopted a resolution “On Making by Resident Borrowers of Certain Payments in Repayment of External Debt under Loans, Advances in Foreign Currency” No.409 dated 23 June 2015 (the “Resolution 409”) aimed at facilitation of restructuring by Ukrainian borrowers of certain loans raised from foreign lenders. arrow

5 June 2015

Legal alert: Further Extension of the Restrictions of the National Bank of Ukraine Aimed at Stabilisation of the Situation on Ukrainian FX Market

The National Bank of Ukraine (the “NBU”) has adopted resolution No.354 dated 3 June 2015 (the “Resolution 354”) aimed at stabilisation of the situation on Ukrainian FX market. According to the Resolution 354, the NBU has generally extended all of the restrictions introduced (or extended) by the NBU in March 2015 (as amended). The Resolution 354 shall be effective as of 4 June 2015 until 3 September 2015. arrow

14 April 2015

Legal alert: Ukraine introduces measures on deregulation and simplification of business prsctices: changes regarding registration of business

On April 5, 2015 the Law of Ukraine “On Amending Certain Legislative Acts of Ukraine with Respect to Simplification of Business Practices (deregulation)” came into force. arrow

9 April 2015

Legal Alert: Kyiv Makes a Step Towards Facilitation and Transparency of Land Allocation Procedures

Kyiv City Council, by Resolution dated 4 March 2015, adopted the new Procedure of Transfer (Granting) of Land Plots from Municipal Property in Kyiv City. arrow

9 April 2015

Legal alert: New Law on Responsibility of Banks’s Related Parties

Effective as of 8 March 2015, the new Law of Ukraine “On Introduction of Changes to Legislation of Ukraine relating to Responsibility of the Bank’s Related Parties” (the “Related Parties Law”) came into effect. The Related Parties Law is aimed at enhancing and extending the responsibility of Ukrainian banks’ related parties under the banks’ liabilities and thereby improving stability of the banking system in Ukraine. arrow

8 April 2015

Ukraine Introduces Measures on Deregulation and Simplification of Business Practices: Impact on Real Estate

On 05 April 2015, the Law of Ukraine “On Amending Certain Legislative Acts of Ukraine with Respect to Simplification of Business Practices (de-regulation)” came into force. arrow

8 April 2015

Ukraine Introduces Measures on Deregulation and Simplification of Business Practices: Impact on Agrobusiness

On 05 April 2015, the Law of Ukraine “On Amending Certain Legislative Acts of Ukraine with Respect to Simplification of Business Practices (de-regulation)” came into force. arrow

12 March 2015

New Regulations for Re-Registration of Branches and Representative Offices of Foreign Companies effective since March 16, 2015

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6 March 2015

Legal alert: Preliminary unofficial clarifications on personal data localization rules

New amendments to the Federal Law dated 27.07.2006 No. 152-FZ “On Personal Data” that inter alia introduce personal data localization rules take effect on 1 September 2015. The new rules therefore will enter into force sooner than initially announced, giving personal data operators less time to prepare for the upcoming changes. arrow

5 March 2015

Legal alert: Extension of the restrictions of the National Bank of Ukraine aimed at atabilisation of the situation on Ukrainian FX market

The National Bank of Ukraine (the “NBU”) has adopted the resolution No.160 dated 3 March 2015 (the “Resolution 160”) aimed at stabilisation of the situation on Ukrainian FX market. According to Resolution 160, the NBU has extended most of the existing restrictions set out in the NBU’s previous similar resolution No. 758 as of dated 1 December 2014 and introduced several additional restrictions. arrow

25 February 2015

Legal alert: New FX restrictions affecting Ukrainian importers

On 23 February 2015, the National Bank of Ukraine (the “NBU”) adopted resolution No.124 “On Peculiarities on Carrying out of Certain Foreign Currency Transactions” (the “Resolution 124”) which, in addition to already existing FX transfer limitations, introduces restrictions on certain FX transactions carried out by Ukrainian importers. In the situation of economic deterioration and Ukrainian hryvnia devaluation, the Resolution is reported to aim at further prevention of capital outflows from Ukraine. arrow

21 January 2015

Legal Alert: Ukrainian Tax Amnesty Program in 2015

With Tax Amnesty Law coming into effect on 17 January 2015, the final details of Ukrainian tax amnesty program have become public. arrow

16 January 2015

Legal alert: Ukrainian Tax Reform in 2015 will affect businesses

Recently adopted Law on Tax Reform introduced important changes to Tax Code coming into effect in 2015. Some minor taxes are cancelled, new taxes on businesses introduced, tax rates increased and tax administration procedures changed significantly for some key taxes. arrow

13 January 2015

Legal alert: New personal data localization rules in Russia – UPDATE

The President of the Russian Federation signed the Federal Law on amendments to the Russian personal data legislation on 31 December 2014. This law changes the date of entry into force of recent amendments related to personal data processing in information telecommunication networks to 1 September 2015 instead of 1 September 2016. arrow

4 November 2014

Legal alert: Ukraine introduces new disclosure and transparency requirements for beneficiaries of local companies and owners of real estate

On November 25, 2014, the recently adopted Law “On Introduction of Changes to Certain Legal Acts of Ukraine Related to Determination of Ultimate Beneficiaries of Legal Entities and Public Figures” (the “Beneficiaries Law”) will come into force. arrow

 

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