Volodymyr Gurlov
Managing partner

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MainStandardized proceduresObtainment of licenses and permits in UkraineLicense for currency exchange for a financial institution

License for currency exchange for a financial institution

License for currency exchange for a financial institution

What we do

  • We provide consulting concerning compliance of financial institution, its head (Director General, General etc.) and the chief accountant with legal requirements;
  • We assess documents that are planned to be submitted to the National Bank of Ukraine, and we make a conclusion concerning their legal correctness and compliance of persons with conditions;
  • We assist in writing a business plan, a questionnaire of financial institution, and other documents, if required;
  • We analyze the financial and auditing reports before they are signed at an auditing company;
  • We prepare the package of documents and provide it at the National Bank of Ukraine for consideration and for getting a currency exchange license;
  • We control passing of documents in consideration at the National Bank of Ukraine.

OUR FEES

License for currency exchange for a financial institution
fron 30 000 USD

This price for obtaining currency exchange licenses is the initial one, because our lawyers must evaluate the documents and situation in general in order to determine the exact price, which for each case is determined separately.


Non-bank institutions additionally pay for the following service:

  • documents review by the National Bank of Ukraine (binding official payment to the state, which amounts to UAH 10,130).

As the need arises and for a separate charge we register a financial institution (register in the Register of Financial Institutions), as well as accompany changes in a financial institution. More detailed information can be obtained at the following link.

WHY CHOOSE US

  • plus

    Minimum Client involvement

    Upon the receipt of the power of attorney from the Client, our lawyers carry out all actions without his direct participation in the process of preparation and submission of documents.
  • plus

    Guaranteed end-result

    Due to the fact that our participation begins at the stage of evaluation and approval of the documents, the package of documents for submission will comply with the license conditions, and we will guaranteedly receive a favourable decision on license issuance.

ANY QUESTIONS LEFT?

Our lawyers will advise you!

Ask a lawyer

Documents for obtaining a license

  • Information on financial institution and its financial status
  • Information on the head and chief accountant
  • Data on ultimate beneficial owners

Documents submitted to NBU for currency exchange license obtainment:

  1. Application;
  2. Business plan (for 3 years minimum);
  3. Questionnaire of non-bank financial institution;
  4. Extract from the Register of Financial Institutions;
  5. Copy of the charter;
  6. Copies of financial services licenses;
  7. Financial statements;
  8. Audit report;
  9. Extract from the Register of Auditors;
  10. Bank statements from banks, which provide services for accounts of financial institution;
  11. Certificates about sources of income;
  12. SFS Certificate of No Outstanding Tax Liability;
  13. Credit reports;
  14. Documents confirming the availability of premises;
  15. Information on ownership structure of financial institution;
  16. Certificates of No Criminal Record;
  17. Documents confirming the business reputation and professional aptitude of the senior management;
  18. Copy of payment receipt for the currency exchange license.

REFERENCES FROM OUR CLIENTS

Partner, Denis Y. Lysenko, Vasil Kisil & Partners

... we would like to express our respect and gratitude for the fruitful cooperation.
... our work on joint projects assured us of your high level of professionalism
... More information

General director Skibinskiy V., Yokogawa Electric Ukraine Ltd.

Yokogawa Electric Ukraine Ltd. recommends Vladimir Gurlov and his team of lawyers as a reliable legal partner and advisor for foreign businesses in Ukraine...... More information

President Tedeev E.S., Ukrainian wrestling association

Ukrainian wrestling association would like to express its sincere appreciation to the team of Law firm "Pravova Dopomoga" for mutually beneficial cooperation... More information

General Manager Stashkevych I.Y., LLC “Trading company” Rud”

We would like to indicate that law firm "Pravova Dopomoga" has become a reliable partner for legal services provision and we can recommend it as a team of qualified professionals who are easy and pleasant to deal with... More information

Chief ophthalmologist of Ukraine, Oksana Vitovska, All-Ukrainian alliance of ophthalmologists

We would like to express sincere gratitute to the team of Law firm "Pravova dopomoga" and personally to Volodymyr Gurlov for professionalism and purposefulness in your work.... More information

L. Chervonyuk, LLC "Vitalux"

Vitalux company highly appreciates results of cooperation with Law firm “Pravova dopomoga”, can characterize it as a reliable partner and based on personal experience is ready to recommend it to interested persons...... More information

G. Zeynep Kucuk, SANOVEL ILAC SAN. ve TIC. A.S.

Helped with the liquidation of a foreign representative office in Ukraine
... More information

General director I.Logvinenko , Bravo Airways

Bravo Airways company expresses its gratitude to law firm "Pravova Dopomoga" for high quality and timely provision of legal services.
... More information

Important to know

The National Bank has the right to require from a non-bank institution the submission of additional documents, information, explanations of documents submitted to the National Bank, which are necessary in order to make a decision on currency exchange license issuing.

Non-bank institutions must submit to the National Bank electronic copies of the documents together with hard copies.

ANSWERS TO FAQs

Is it possible for an ordinary company to get a license for currency exchange?

No, it is not. The company should be included to the Register of Financial Institutions.

Are there any requirements for the head of a financial institution or other persons?

Yes, there are requirements not only to the financial institution and its head, but also to the owners of a significant share in respect of business reputation and professional aptitude.

For what term is a currency exchange license issued?

Currency exchange licenses remain in force without limit of time.

Why do I need a copy of payment receipt for the service of documents review by NBU?

A copy of the payment document must be submitted together with the package of documents, because without it the documents will be returned for revision.

SWIFT OBTAINMENT
AND BEST QUALITY PROVEN BY YEARS OF PRACTICE!

Volodymyr Gurlov, Managing partner

Volodymyr Gurlov, Managing partner

RELEVANT INFORMATION

Requirements for issuing a currency exchange license for financial institutions

Among the requirements to the financial status of financial institutions, which are planning to carry out activities on currency exchange, there is a requirement for availability of minimum equity capital: 
  • the sum is UAH 5 million, if the number of operating units is not more than 50;   
  • if the number of operating units is 50 and more, the sum is UAH 5 million plus UAH 5 million for every next 50 operating units.
It should be noted that for successful obtainment of currency exchange license there should be no any:
  • within 6 months prior to the day of documents submission or during their review: 
  • material violations of the requirements of securing of financial institutions premises; 
  • statutory non-compliance;
Within the last year prior to the day of documents submission or during their review: 
  • 2 or more application of enforcement actions by the National Bank, such as: penalty, restriction, suspension or termination of certain types of currency transactions;
  • revocation of license.
If you want to know more about the currency exchange licensing for financial institutions obtainment or order a license - call us!

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