Uncategorised

Ukraine might lift dividend payment ban to investors

Chris Hamblin Editor London 16 May 2016

Ukraine might lift dividend payment ban to investors

As the Ukraine struggles to return to 'business as usual,' its central bank is preparing to allow payments on the dividends of Ukranian companies to leave the country once more. Foreign HNW investors have until 19 May to apply to their banks for them.

Anastacia Nechaeva, a Ukranian lawyer at TMF Group, has written on the company's site that she has heard that no company will be able to issue dividends through more than one bank. She expects, according to her contacts, that the dividends will be paid in instalments over a period of time.

When each foreign HNWI's private bank has made its application for back-dividends on his behalf, the central bank will work out the procedure in greater detail. Anastacia believes that the central bank will eventually hand each bank a list of clients to whom it will be allowed to transfer monies abroad.

Register for WealthBriefing today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes