Simplified procedure for foreign investments in Ukraine by introducing a legal regime for recording the ownership of securities of customers of global custodians or other financial intermediaries.
Ukrainian depository institutions are given the opportunity to open accounts in securities of a nominal holder for foreign depository institutions.
The corresponding Law “On Amendments to Certain Legislative Acts of Ukraine Concerning Assistance in Attracting Foreign Investments” No. 2418-VIII was signed by the President on July 20, 2018.
For example, the Law “On the Depository System of Ukraine” introduced
the concept of a “nominal holder” – a foreign credit organization
registered in a Member State of the European Union or a member of the
Financial Action Task Force on Money Laundering (FATF) or the Council of
Europe Committee of Experts on the Mutual evaluation of measures to
combat money laundering and the financing of terrorism (MONEYVAL), which
complies with the requirements set by the National Securities and
Exchange Commission, and in accordance with the laws of the state in
which the finance institution is registered, has the right to provide
its clients with services in securities accounting and the registration
of the transfer of ownership of the securities, including in other
states on the basis of appropriate contracts with foreign financial
institutions.
More on foreign investments...
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