Interview with the Chief Operating Officer of «RwS bank»

Why non-residents should open accounts in Ukraine?

Since 2019, after the liberalization of currency legislation in Ukraine, it is allowed to open accounts for non-residents, individuals and legal entities.

Regarding the tightening of rules and complications of opening accounts for legal entities in the world, the attractiveness of Ukrainian banks has increased significantly.

A non-resident individual will need a personal account when making a deposit or for personal use while staying in the country. For example, if a foreigner wants to buy real estate in Ukraine.

By the way, in the last few years there has been an increased demand for foreign currency deposits by non-residents. Interest rates on deposits in dollar and euro are up to 4% per annum in Ukraine, which is much higher than in other countries, the trend for opening an account for capital accumulation gains momentum.

The opening of a bank account for legal entities in Ukraine is also necessary to obtain loans, settlements with counterparties, salary payments.

Which types of accounts are available for foreigners?

- settlement accounts without conducting economic activity in Ukraine

- settlement accounts with conducting business activity in Ukraine

- deposit accounts

- investment accounts (for example, for buying out a share of the authorized capital of a Ukrainian enterprise)

- current accounts for individuals (card accounts)

Which simplifications have foreign companies received?

Except for the implementation of the legal possibility of opening bank accounts, positive innovations are:

· cancellation of submission of cards with samples of client signatures

· opening and disposal of the account is possible by an authorized third person

· name change of the legal entity doesn’t imply the closure of existing accounts

How long does it take to open an account?

It should be noted that the service is new for Ukrainian banks. And even if they declare this offer, not everyone is actually ready to cooperate with non-residents.

«RwS bank» is ready to organize the opening of a «turnkey» account, also organize support and submission of documents to the controlling bodies for registration of the company. If a complete package of documents is available, we open a non-resident account within 1 day.

In which currency is it possible to open account?

An account for non-resident legal entitties can be opened in national currency (UAH), US dollars (USD) and Euros (EUR).

I would also like to note that non-residents are not limited to the number of bank accounts opened in one or different banks.

Is it possible for a non-resident company to receive an international corporate MasterCard payment card?

Yes, perhaps for business activities and business trips. But according to the Ukrainian legislation, cash withdrawal is prohibited from such card. In addition, if a non-resident company hires Ukrainian employees, MasterCard salary cards are issued to pay such salaries. There are no restrictions on such cards, including cash withdrawals. 

In what currency will a non-resident individual receive a MasterCard card?

Today «RwS bank» offers Standart Debit MasterCard, World Debit MasterCard, World Elite MasterCard in euros (EUR), US dollars (USD), British pounds (GBP), Polish zlotys (PLN), as well as in the Ukrainian national currency - hryvnia (UAH).