How to Legally Export Cash from Ukraine to Poland During Martial Law

The imposition of martial law in Ukraine dramatically changed banking operations. On February 24, 2022, the National Bank of Ukraine enacted a regulation that bans transferring funds to foreign bank accounts. While there are exceptions for payments for critical imports like bulletproof vests and drones, these do not apply to personal uses such as buying property, significantly complicating matters for those needing to transfer funds for private reasons.

Currently, exporting cash remains the only legal method for transferring funds abroad. A client from Kyiv, who now resides permanently in Poland, chose this approach to move her funds. When she approached our firm, she was already aware that we provide not just consultations but also complete solutions for legally transferring funds across borders. Thanks to our services, which include detailed guidance and support at every step of the process, she felt confident that her transaction would be safe, legal, and risk-free.

This article delves into this case, explaining each step of the process in detail. Read on to discover the intricacies of legally exporting cash abroad during martial law and explore legal opportunities that might be particularly relevant to your situation!

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Transporting Cash from Ukraine to Poland: Legal Aspects of Cross-Border Money Transfer

Our client, residing abroad, planned to purchase a car. For this purpose, she needed to legally transport cash from Ukraine to Poland, declare it at the border, and then deposit it into a Polish bank account. We began by providing a detailed legal consultation that outlined each step of transferring funds from Ukraine to Poland. We then meticulously reviewed every required document for this process. Notably, the declaration for the cross-border movement of monetary values must include cash withdrawal receipts, which by law must specify certain formats, essential details, and the identity of the person withdrawing the funds.

A primary concern for our client was whether it was permissible for another person to withdraw funds from her account and if a receipt for such a withdrawal by another person would be recognized as a valid document at the border. This was crucial because our client could only visit for a few weeks, whereas the withdrawals needed to be made over several months. Our team of lawyers, experienced in handling similar situations, advised the client on the best approach for her circumstances.

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Exporting Currency Abroad: How to Properly Transport Currency Across Borders and Customs Requirements

Our client was particularly concerned about the correct way to exchange currency since she was planning to transfer funds in euros. It's important to note that when transporting cash in a foreign currency, currency exchange receipts are a mandatory document required at the border. There were several crucial points that needed clarification:

• Whether currency exchange receipts have an expiration date.
• Whether it is permissible to exchange currency through a power of attorney.
• What essential details must be included in a currency exchange receipt to be presented at customs.

We extensively discussed these topics with our client and provided her with detailed answers to all her questions. We also advised her to obtain several additional documents in advance, which, based on our experience, might be requested at the border when exporting currency. Requirements can vary across different checkpoints, and unexpected queries might arise at customs. Being prepared is crucial, so it is important to thoroughly plan and prepare all necessary documentation.

How to Properly Export Cash from Ukraine to Poland: Declaring Currency at the Border

We emphasized to our client that it's not only important to export cash from Ukraine and complete the declaration at the Ukrainian border but also to properly import the money into another country, in this case, Poland, a member of the European Union. We informed her that she would need to fill out a declaration on the Polish side concerning the importation of funds into Poland. This process includes specific protocols and requires a set of documents.

Since our client intended to deposit these funds into her overseas bank account, this declaration is an essential document for meeting the bank's compliance requirements. Polish banks commonly request not only proof of the funds' origin but also the border declaration submitted upon entry before allowing the money to be deposited into an account. To save our client time and hassle at the border, we advised her to prepare all necessary declarations in advance.

Our team prepared the necessary declarations for both the Ukrainian and Polish sides, so our client simply needed to announce her intention to declare the funds at the borders, and submit the filled-out declarations, and any accompanying documents. After successfully crossing the border, the client achieved her initial objective—successfully transporting cash to Poland—and was very grateful for our guidance at every step of the process.

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Exporting Money Abroad During Martial Law: Legal Assistance

The introduction of martial law has significantly complicated the process of transferring funds abroad. However, with our legal firm's assistance, you can successfully and legally transfer cash across borders. It's important to note that declaring funds at customs involves numerous subtleties that must be considered. Therefore, it's crucial to entrust this task to professionals who have a proven track record in international money transfers. Our legal firm offers the following services in this area:

• Consultations with a Lawyer: We provide comprehensive information about the stages of fund transfer, necessary documents, and regulatory requirements.
• Preparation of Supporting Documents: We assist in drafting and verifying cash withdrawal receipts, currency exchange receipts, and recommend preparing documents that may be requested at the border. We also provide support in their preparation.
• Customs Declarations: We prepare declarations for both the export and import of funds, ensuring compliance with both Ukrainian and foreign legal requirements.

Our specialists will equip you with the necessary information, assist with document preparation, and provide support at each stage of the process.

Contact us today for a consultation to ensure a legal and safe transfer of your funds abroad. With our help, you can achieve your financial objectives smoothly and without delay!