License for transferring money in national currency without opening an account

Cost of services

Cost of services:

от 45 000 USD
Funds transfer license
5.0
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What we offer

  • analysing the documents which are submitting  to the National Bank of Ukraine, giving the conclusion about its self-sufficiency and legal correctness;
  • developing the internal rules about the transfer of funds;
  • helping with the business plan and with auditing organisation;
  • preparing and applying a set of documents for obtaining a license;
  • giving a consultation about questions, which are connected to the collecting and preparing of documents, what are needed for obtaining a license and about the full list of requirements, which the financial institution and its owners must met.


In separate cases in addition giving those services:

  • helping with the financial reporting;
  • analysing the structure of non-bank financial institution and forming a message for providing this data for consolidation to the National Bank of Ukraine.

Content

Documents for obtaining a license

List of documents
Information on non-bank financial institution
Information on leading personnel
Ownership structure

In order to obtain a license for transferring money you must provide us with information on:

  • non-bank financial institution:
  • general information;
  • financial status;
  • financial obligations;
  • business reputation;


Leading personnel of non-bank financial institution:

  • copies of passports and codes;
  • details of the order on entrance upon duty;
  • certificate of no criminal record.

Basic informatin that is applied for money transfer license obtainment:

  • relations of a non-bank financial institution with other persons;
  • owners of qualifying shareholding in a non-bank financial institution;
  • schematic view of the ownership structure of non-bank financial institution;
  • certificates from banks servicing the accounts of non-bank financial institution;
  • certificate of the authorized body on the presence or absence of tax liabilities and charges of non-bank financial institution;
  • auditor's report;
  • credit reports from competent credit reporting agencies in respect of non-banking financial institution.

Legal advice on obtaining a licence to transfer funds in local currency without opening an account

The procedure for obtaining a licence to transfer funds in foreign currency without opening an account is quite complicated, so it is virtually unrealistic for someone without experience to go through it the first time. Our lawyers provide a separate type of advice - the Road Map, which will help you to get acquainted with the nuances of the process, as well as receive a step-by-step algorithm on its passage.

The Road Map will give you an understanding of these points:

  • What are the nuances to consider when starting a money transfer business in Ukraine?

  • What is the best algorithm to choose, based on your specific situation?

  • What are the pitfalls in your case and how to avoid them?

When making the Road Map, you will also receive answers to other questions related to obtaining a license to transfer funds in the national currency without opening an account in Ukraine. The cost of this type of consultation starts at 300 USD.

If a legal entity is not yet registered as a financial institution, we can at extra charge record it into the Register of Financial Institutions.

You can get acquainted with the information on these services at the following link.

Additionally paid:

  • Obligatory official payment to the state for consideration of documents for obtaining a license, in the amount of UAH 36 840;

Why us

Free consultation
Consultation is provided at no cost subject to the condition of ordering this service. In such case, our lawyers will provide full consultation in respect of requirements for financial institutions and other issues.
Assistance with organization of pre-licensed audit
Our company has an established relationship with the audit firms, which have the right to carry out an audit of non-bank financial institutions.

We are ready to help you!

Contact us by mail [email protected], by phone number +38 044 499 47 99or by filling out the form:

Before preparation the documents for submission to NBU we carry out an analysis of provided documents and give an opinion on their legal correctness and self-sufficiency.

In case of non-compliance of the package of documents with the License Conditions, we help to correct and complete them in accordance with the requirements of NBU.

Answers to frequently asked questions

Should the company be recorded into the Register of Financial Institutions?

A company intended to carry out money transfer activities should be recorded into the State Register of Financial Institutions.

How long does it take to obtain a license for money transfer?

The process of license for transferring money obtaining takes about two months.

It should be added that in order to obtain a money transferring license, the financial institution must provide financial statements, which pursuant to the License Conditions consists of four completed forms (Balance Sheet, Statement of Profit or Loss, Statement of Cash Flows, Statement of Changes in Equity) and Notes to the Annual Financial Statements or the Financial Statement of a Small Business for the previous year (if available, or as of the last reporting date prior applying for a license).

Just as important to know that NBU may require the submission of additional information or documents on the financial statements of non-bank financial institution.

If You want to obtain money transfer license quick and easy - call us!

Our team

Marina Losenko
Associate
Karina Kuzminskaya
Junior lawyer