RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of February 19, 1996 No. 229

About approval of the Regulations on procedure for control and the reporting concerning use of property which is invested outside Ukraine

In pursuance of the Presidential decree of Ukraine of September 13, 1995 "About investment of property by residents outside Ukraine" the Cabinet of Ministers of Ukraine DECIDES: No. 839

Approve Regulations on procedure for issue of individual licenses on implementation by residents of property investments outside Ukraine and Regulations on procedure for control and the reporting concerning use of property which is invested outside Ukraine (are applied).

Approved by the Resolution of the Cabinet of Ministers of Ukraine of February 19, 1996 No. 229

Regulations on procedure for control and the reporting concerning use of property which is invested outside Ukraine

1. This Provision establishes procedure of control and submission of the reporting concerning use of property which is invested outside Ukraine.

2. Customs clearance of property which is invested outside Ukraine are performed only in the presence of the individual license granted by the Ministry of Economic Development.

The State Customs Service quarterly represents to National Bank, the relevant authorized banks, the Ministry of Economic Development, Gosstata and GNS of the data on execution of customs declarations according to the granted licenses in form and according to the procedure which are established by this Service.

3. The residents who obtained the license for investment of property outside Ukraine shall perform declaring of property by submission to National Bank of the message on actually invested property in accordance with the terms of the individual license provided to resident in the form established by it. The second copy of the message with the corresponding mark of National Bank is represented resident of the Ministry of Economic Development.

4. Residents which invest property outside Ukraine represent to GNS the declaration on all receipts received as a result of investment into their advantage in foreign currency. The form of the declaration and terms of its representation are established by the Main GNS. The second copy of the declaration with the corresponding mark of the Main state tax authorities is represented resident of the Ministry of Economic Development.

5. Control of efficiency of use of the property invested outside Ukraine is exercised by the owner or the body authorized by it according to the legislation of Ukraine.

At the same time control of efficiency of use of the state-owned property invested outside Ukraine for the purpose of fixing to branches, representations and other separate divisions of the companies is performed by these companies and relevant organs which management sphere they treat; entering into authorized capitals of the companies created abroad - respectively Fund of state-owned property, the central bodies of the state executive authority or other bodies, authorized to perform functions on management of state-owned property.

6. The procedure for use of currency means which arrive to residents from investment of property outside Ukraine is regulated by the foreign exchange legislation of Ukraine.

7. The residents investing property outside Ukraine represent to Gosstat data in the form established by it.

Approved by the Resolution of the Cabinet of Ministers of Ukraine of February 19, 1996 No. 229

Regulations on procedure for issue of individual licenses on implementation by residents of property investments outside Ukraine

1. This Provision determines procedure for submission of necessary documents, their considerations and issue of individual licenses on implementation by residents of property investments outside Ukraine (further - individual licenses).

2. Issue of individual licenses is performed by the Ministry of Economic Development.

The form of the individual license is established by the Ministry of Economic Development.

3. For receipt of the individual license residents file the following documents to the Ministry of Economic Development:

the letter of appeal with reasons for need of implementation of property investments outside Ukraine;

the paragraph third is excluded according to the Resolution of the Cabinet of Ministers of Ukraine of 08.04.2013 No. 233

the copies of constituent documents (the charter, the foundation agreement, provision) certified of the procedure established by the legislation;

the consent of relevant organs of the state executive authority or other authorized body if out of limits of Ukraine the property which is in state-owned property is invested;

the reference of bank institution in which the account of resident is opened;

the document confirming the cost of property in foreign convertible currency on the basis of the prices of the international markets;

calculation of the terms necessary for realization of property investments outside Ukraine;

the document confirming introduction of payment for issue of the individual license;

the paragraph the tenth is excluded according to the Resolution of the Cabinet of Ministers of Ukraine of 23.09.2014 No. 485

the paragraph the eleventh is excluded.

4. The Ministry of Economic Development considers the submitted documents throughout fifteen working days, since day of the address, and makes the decision on issue to resident of the individual license or on refusal in its issue.

5. The basis for refusal in issue of the individual license is:

lack of the documents (document) listed in Item 3 of this Provision;

discrepancy of the submitted documents to requirements of the legislation of Ukraine;

identification in the submitted documents of unreliable information;

excitement against the applicant of case on bankruptcy;

stay of property of the applicant in tax pledge in connection with the tax arrears and to introduction of other nation-wide payments;

prohibition or restrictions concerning implementation of foreign investments, stipulated by the legislation Ukraine and/or the legislation of the country where investments are placed;

application to the applicant at the time of implementation of investments of special sanctions, the stipulated in Article 37 Laws of Ukraine "About foreign economic activity", or availability of the facts of violation of fixed terms of carrying out calculations for the external economic transactions;

not stay of the applicant on accounting as the taxpayer.

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