The National Bank of Ukraine (NBU) clarified which documents citizens can use to confirm the origin of cash when taking it abroad in an amount exceeding the equivalent of €10,000. In particular, to confirm the withdrawal of funds a statement of transactions from your own bank account is sufficient.
Which documents are sufficient to confirm cash withdrawals
A statement of transactions for your own bank account is recognised as sufficient to confirm a cash withdrawal. Additional cash documents are not required.
The statement must be for your own bank account and reflect the movement of the funds you are taking out. Other cash-related papers are not required to confirm the withdrawal.
Declaration requirements and options for taking funds abroad
The requirement to submit a written declaration for cash exceeding the equivalent of €10,000 remains in force (a written declaration means completing a customs declaration). If the amount is higher, it must be declared.
There are three ways to transfer funds abroad after selling an apartment. Here they are:
- Bank transfer. Possible by opening a foreign-currency account; you must provide documents confirming the source of the funds (the sale contract, the tax return) and make the transfer in compliance with currency regulations.
- Carrying cash. Cash up to €10,000 may be taken out without declaration; if the amount is larger, it must be declared. For declaring cash after the sale of an apartment it is recommended to prepare the sale agreement and receipts for tax payments.
- Foreign bank account. Suitable for holding funds or for further investment; you must provide supporting documents and comply with the rules of the country where the account is opened.
