Expanded scope of permitted FX transactions for payments to non-resident individuals
The NBU now allows non-resident individuals to transfer funds abroad without restrictions if the funds were credited in UAH to their accounts with Ukrainian banks as of 1 May 2026 as: salary and other payments under the Law of Ukraine “On Remuneration of Labour”; and/or remuneration under civil-law agreements concluded between a Ukrainian company and members of its supervisory board/board of directors/executive body. Such transfers must be processed through the Ukrainian bank where the relevant account for crediting these payments is opened.
In addition, Ukrainian companies are permitted to pay non-resident members of the supervisory board/board of directors/executive body under civil-law agreements directly to bank accounts opened outside Ukraine. This permission applies to payments accrued from 1 May 2026.
Ukraine and the International Monetary Fund (IMF) are close to agreeing on introducing VAT for sole proprietors (FOPs) in 2027.
According to Forbes Ukraine, the talks are nearing completion.
The VAT requirement for FOPs earning over UAH 4 million per year would stay but could be delayed by one year. Final approval is expected during the IMF mission to Kyiv in May. The parties also discussed tougher measures against the shadow economy, including business splitting, tobacco smuggling, and off-the-books (“envelope”) wages.
They considered limits on paying only the statutory minimum wage in roles where it is far below market rates. They also discussed sanctions for large businesses that use FOP networks to avoid the general tax regime.
Parliament Updates the Civil Code Rules on Factoring
On 29 April 2026, the Verkhovna Rada adopted a law amending the Civil Code of Ukraine in relation to factoring regulation. The purpose of the law is to remove factoring regulation from the Civil Code following the adoption of the special Law of Ukraine “On Factoring”. The law defines a factoring agreement as a separate type of civil-law contract, sets requirements for such agreements, and determines the rights and obligations of the parties and other participants in factoring relations.
For businesses, this is relevant because factoring is commonly used to finance working capital, manage receivables, and transfer monetary claims. A dedicated legal framework may make factoring transactions more predictable for banks, financial companies, suppliers, and companies operating with deferred-payment arrangements.
NBU Clarifies Rules for Foreign-Currency Payment Instructions
On 27 April 2026, the National Bank of Ukraine announced changes to the procedure for executing payment instructions in foreign currency and banking metals by payment service providers. The amendments clarify rules connected with new codes for commission fees and costs in foreign-currency and banking-metal transfers. The NBU also improved the procedure for compulsory recovery of tax debt in national currency where the debtor has funds in foreign-currency accounts. In addition, payment service providers of the recipient must inform users about each crediting of funds to the recipient’s account. The relevant NBU Resolution No. 41 dated 23 April 2026 entered into force on 28 April 2026.
Large and Medium-Sized Businesses May Access 10% Loans for Distributed Generation
On 30 April 2026, the Ministry of Economy reported that large and medium-sized businesses will be able to obtain loans for building their own distributed generation facilities at 10% per annum under Resilience Plans. The difference between the commercial and preferential rate will be compensated by the state. The decision was adopted by the Cabinet of Ministers on 29 April 2026 as an experimental business-support project in the energy sector.
The program targets Ukrainian large and medium-sized businesses, subject to restrictions including no links with the aggressor state, no sanctions, no budget debts, and no non-resident Ukrainian owners. Eligible projects include gas-turbine and gas-piston units, cogeneration, renewable-energy facilities based on biomass, biogas or geothermal energy, energy storage, and local autonomous energy systems.
Ukraine Ratifies Convention Establishing the International Compensation Commission
On 30 April 2026, the Verkhovna Rada ratified the Convention establishing the International Compensation Commission for Ukraine. The Commission is intended to become the second component of the international compensation mechanism for damage, losses and injury caused by Russia’s aggression against Ukraine from 24 February 2022 onwards. The mechanism applies to claims by individuals, legal entities, the state of Ukraine, regional and local authorities, and state-owned or controlled institutions.
The Commission will operate as an independent body within the institutional framework of the Council of Europe and will consider claims submitted by legal and natural persons. The Convention will enter into force three months after two conditions are met: consent by 25 signatory states and aggregate individual contributions reaching at least 50% of the Register’s 2025 budget.
