The Law of Ukraine
On Protection of Foreign Investments in Ukraine
Date of Entry into Force:
October 5, 1991
The Law of Ukraine “On Protection of Foreign Investments in Ukraine” stipulates that investments, profits, legal rights and interests of foreign investors on the territory of Ukraine shall be protected by its laws.
Pursuant to the above Law foreign investments shall not be subject to requisition by the state except for cases of natural disaster, damages, epidemics and epizootics. Besides, it is established that requisition of foreign investments in the mentioned cases may be conducted only under decision of the Cabinet of Ministers of Ukraine and on condition of adequate reimbursement that shall be paid to foreign investor.
The Law guarantees to foreign investors transfer abroad of profits and other sums which they got on legal basis as a result of entrepreneurial activity on the territory of Ukraine. Thereto foreign investors have possibility to transfer the mentioned funds in national as well as in foreign currency.
The Law also stipulates that with the purpose of national economy development and creation of conditions for making foreign investors interested in realization of structural investment projects in Ukraine, foreign investors shall be entitled to reinvest the profits obtained on the territory of Ukraine.
The Law charges the Cabinet of Ministers of Ukraine to prepare and submit to the Verkhovna Rada of Ukraine suggestions dealing with the types of activities which may be performed by foreign investors on the basis of special permit (license) and with the procedure of such licensing.