The Global Equity Compensation Newsletter covers the latest developments relevant to companies operating global share plans.
The short summaries provided below give an initial overview of the changes that are likely to be of greatest interest to you. More detail is provided in the attached newsletter.
New foreign exchange control regulations came into force earlier this year. The law abolishes a number of restrictions, defines legal principles of currency operations, currency regulation and supervision and declares significant liberalisation of currency transactions and capital movement in Ukraine. In particular, Ukrainian residents (including business entities) will be allowed to open accounts abroad and to transfer funds to such accounts, invest in foreign securities, corporate rights and real estate by the transfer of funds from Ukraine without the need to apply for individual licences from the National Bank of Ukraine.
The cancellation of the requirement of individual licences will lead to the simplification of implementing share plans in Ukraine.