{"id":706791,"date":"2026-01-23T10:37:43","date_gmt":"2026-01-23T08:37:43","guid":{"rendered":"https:\/\/eba.com.ua\/?p=706791"},"modified":"2026-01-23T15:26:35","modified_gmt":"2026-01-23T13:26:35","slug":"biznes-ochikuye-podalshoyi-liberalizatsiyi-u-2026-rotsi-fokus-na-dyvidendah-staryh-borgah-ta-umovah-dlya-rynku-kapitalu","status":"publish","type":"post","link":"https:\/\/eba.com.ua\/en\/biznes-ochikuye-podalshoyi-liberalizatsiyi-u-2026-rotsi-fokus-na-dyvidendah-staryh-borgah-ta-umovah-dlya-rynku-kapitalu\/","title":{"rendered":"[:ua]\u0411\u0456\u0437\u043d\u0435\u0441 \u043e\u0447\u0456\u043a\u0443\u0454 \u043f\u043e\u0434\u0430\u043b\u044c\u0448\u043e\u0457 \u043b\u0456\u0431\u0435\u0440\u0430\u043b\u0456\u0437\u0430\u0446\u0456\u0457 \u0443 2026 \u0440\u043e\u0446\u0456: \u0444\u043e\u043a\u0443\u0441 \u043d\u0430 \u0434\u0438\u0432\u0456\u0434\u0435\u043d\u0434\u0430\u0445, \u00ab\u0441\u0442\u0430\u0440\u0438\u0445\u00bb \u0431\u043e\u0440\u0433\u0430\u0445 \u0442\u0430 \u0443\u043c\u043e\u0432\u0430\u0445 \u0434\u043b\u044f \u0440\u0438\u043d\u043a\u0443 \u043a\u0430\u043f\u0456\u0442\u0430\u043b\u0443[:en]Business expects further liberalisation in 2026: focus on dividends, \u201clegacy\u201d debts and capital market conditions[:]"},"content":{"rendered":"

<\/p>\n

These are the key findings of the third stage of the European Business Association\u2019s survey on current needs for easing currency restrictions.<\/p>\n

The most pressing needs identified by businesses include: dividend payments (including dividends accrued before 2023), repayment of external loans, and an increase in limits on corporate card transactions.<\/p>\n

\u201cIncentive-based liberalisation\u201d mechanism<\/strong><\/p>\n

The majority of surveyed companies (83%) are not currently using the \u201cincentive-based liberalisation\u201d mechanism and do not plan to do so; 10% are only considering its use, while just 7% already apply it. Regarding the volume of funds attracted or planned by the end of 2025, 86% of respondents have not carried out such transactions. Among those using the mechanism, 7% of companies operate within the range of EUR 500,000\u20131 million, and another 7% exceed EUR 2 million. Plans for 2026 show a similar trend: 83% do not plan to use the mechanism; 7% are considering amounts of up to EUR 100,000; another 7% are targeting amounts above EUR 2 million; and 3% plan transactions within the range of EUR 500,000\u20131 million.<\/p>\n

Dividend payments to non-residents<\/strong><\/p>\n

47% of companies consider dividend payments for the period prior to 2023 to be a relevant need (33% describe it as extremely relevant). In 2024, 69% of companies reported a need for dividend payments for the period prior to 2024. Acceptable payment schedules include: more than EUR 2 million per quarter (20%) and EUR 100,000\u20132 million per quarter (30%). Dividend payments to non-residents for the period since 2023 in the amount of EUR 2\u20139 million per quarter are relevant for 30% of companies.<\/p>\n

Repayment of loans to non-residents (\u201clegacy\u201d debts)<\/strong><\/p>\n

Compared to 2024 (51%), the share of companies for which loan repayments to non-residents are relevant increased to 60% in 2025 (43% consider this need extremely relevant). The most demanded range is EUR 100,000\u20132 million per quarter (53%), while 10% of respondents require the ability to repay more than EUR 2 million per quarter.<\/p>\n

* Currently, such repayments are allowed within the \u201cincentive\u201d limits (in particular, the \u201cloan limit\u201d introduced as part of the NBU\u2019s currency easing measures of 14 January 2026<\/a>).<\/em><\/p>\n

Increasing limits for transactions using UAH-denominated corporate payment cards abroad<\/strong><\/p>\n

70% of companies need higher limits for transactions using UAH-denominated corporate cards abroad (60% consider it relevant but not critical; 10% extremely relevant). In 2024, 79% of companies declared a need to increase such limits. Optimal limits are assessed at UAH 150,000\u2013500,000 per month (50%) and UAH 500,000\u20131 million per month (17%). Given the increase in business travel and related expenses, companies also propose raising limits on FX P2P transfers and lifting restrictions on cash purchases (currently equivalent to USD 80 per day), as these no longer cover employees\u2019 actual needs abroad.<\/p>\n

Payments for imported goods delivered before 23 February 2021<\/strong><\/p>\n

In 2025, the issue of payments for imported goods and services delivered before 23 February 2021 became more acute: the share of companies for which it is relevant increased from 25% in 2024 to 40% in 2025 (17% extremely relevant; 23% relevant but not critical). The most demanded limits are EUR 100,000\u2013500,000 (23%) and EUR 500,000\u20132 million (13%). This issue covers both goods and services delivered before 23 February 2021, and for settlements \u2014 including import arrears from 2022 \u2014 businesses are willing to use their own foreign currency reserves.<\/p>\n

* Currently, such payments are allowed within the \u201cincentive\u201d limits (including the \u201cloan limit\u201d introduced under the NBU\u2019s currency easing measures of 14 January 2026<\/a>).<\/em><\/p>\n

Refund of container deposits<\/strong><\/p>\n

The issue of refunding container deposits remains niche: it is not relevant for 93% of respondents. The 7% that do have such a need (though not critical) indicate that a limit of EUR 100,000\u2013500,000 would be sufficient.<\/p>\n

Cross-border payments related to export operations (penalties, fines, etc.)<\/strong><\/p>\n

The ability to pay penalties related to export operations is relevant for 43% of companies (10% consider it extremely relevant). For most respondents, a limit of 2\u20135% of the contract value would be sufficient to mitigate these risks.<\/p>\n

Completion of currency supervision through set-off<\/strong><\/p>\n

The need to complete currency supervision through set-off remains high at 63% (20% extremely relevant; 43% relevant but not critical), compared to 73% in 2024. Sufficient limits include: up to EUR 100,000 per month (23%), EUR 100,000\u20131 million per month (20%), and over EUR 1 million per month (13%). Companies point to the risk of penalties due to a lack of guarantees from tax authorities and propose simplification mechanisms to reduce administrative pressure.<\/p>\n

Settlement deadlines for export\/import operations<\/strong><\/p>\n

Given disrupted supply chains and border blockages, almost half of respondents (47%) consider it necessary to extend settlement deadlines to 360 days, while 180- and 270-day options are supported by 23% and 17% of companies respectively. In this context, businesses propose not only extending revenue repatriation deadlines (particularly for grain), but also exempting exporters from penalties for violations caused by logistical disruptions in 2023.<\/p>\n

Purchase of foreign currency to meet obligations regardless of available funds<\/strong><\/p>\n

The ability to purchase foreign currency regardless of available funds remains consistently important for business: 80% of respondents declare this need (37% consider it extremely relevant), confirming the stable trend observed in 2024 (79%).

\nIn terms of desired limits, 50% of companies target UAH 100,000\u20132 million per month; 27% require UAH 2\u20135 million; and 7% need amounts exceeding UAH 45 million.<\/p>\n

Additional measures proposed by businesses in the context of currency liberalisation<\/strong><\/p>\n

Businesses also emphasise the need to:<\/p>\n