| Context | Key takeaway |
|---|---|
| Target: join SEPA (Single Euro Payments Area). The Finance Ministry and NBU have drafted a bill now before Parliament that aligns Ukraine’s payment-infrastructure rules with EU norms. | SEPA membership slashes cross-border transfer costs and times for businesses and individuals, giving Ukraine a direct “payments passport” into the €-zone. |
| Core requirement: create a national Register of bank/ securities accounts and individual safe-deposit boxes. | The Register is an EU prerequisite (AML / tax-transparency package 2018/843). Without it, EU counter-parties cannot confirm origin-of-funds in seconds, blocking SEPA access. |
| What will be recorded? | • IBAN or wallet ID |
| • Beneficial owner (full KYC) | |
| • Custodian institution | |
| Not recorded: balances, transaction history or contents of safes. | |
| Who can view it? | Only “competent authorities” (court-sanctioned investigators, FIU, tax/customs, anti-corruption bodies). No public or commercial access. |
| Benefits once the bill becomes law | • Instant euro transfers to/from EU without opening foreign accounts. |
| • Fees drop from 0.7-1.5 % to near-zero. | |
| • Faster trade-settlement times attract EU suppliers, VC and PE funds. | |
| • Easier AML/KYC checks for foreign investors acquiring Ukrainian assets. | |
| Timeline & next steps | Parliament vote expected this session. If adopted, the Ministry of Finance & NBU will roll out the Register in phases; SEPA application can then be filed with the European Payments Council. |
Finance Minister Serhii Marchenko:
“If we want to pay in euros like an EU resident, we must pass this law quickly. Transparency is the entry ticket.”
