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Opening bank accounts in Ukraine for foreigners and foreign companies

Updated: November 2026
 
Without an account in a Ukrainian bank, a foreigner cannot receive a salary, buy property or pay into a company’s share capital, and a company cannot start operating. Opening an account is possible, but banks scrutinize non-residents closely, and the National Bank’s wartime rules restrict some transactions. It is best to come to the bank with a complete set of documents and a clear purpose for the account.
 
Current rules
Account opening is governed by the Instruction on the Procedure for Opening and Closing Accounts of Users by Account Servicing Payment Service Providers (in Ukrainian), approved by NBU Board Resolution No. 162. The bank checks the client under the Law of Ukraine “On Prevention and Counteraction to Legalization (Laundering) of the Proceeds of Crime, Terrorist Financing and Financing of Proliferation of Weapons of Mass Destruction” (in Ukrainian). This law allows the bank to request any documents about the client, its owners and the origin of funds, and to refuse if the answers are not convincing.
 
During martial law, the restrictions of NBU Board Resolution No. 18 (in Ukrainian) apply. They cover transfers abroad, foreign currency purchases, dividend payments to non-residents and repatriation of investments. The NBU eased them several times in 2025–2026, so current limits should be checked before each transaction rather than relying on past experience. Separate prohibitions apply to persons and companies connected with the aggressor state, and in such cases the bank will not open an account.
 
Account for a non-resident individual
Banks usually ask for:
  • the foreigner’s passport with a notarized Ukrainian translation;
  • a Ukrainian taxpayer identification number (RNOKPP) — the bank will not open an account without it;
  • a document confirming legal stay in Ukraine: a visa, a border-crossing stamp, or a temporary or permanent residence permit;
  • source-of-funds documents if significant inflows are expected: an income statement, a contract for the sale of property or a stake, inheritance or gift documents, a customs declaration for cash;
  • a client questionnaire stating the purpose of the account and expected turnover.
The procedure is simpler with a residence permit: banks treat such clients almost like residents. Without one, an account can still be opened, but the review takes longer, and some banks, digital ones in particular, do not work with foreigners who lack it. The first identification usually requires a personal visit, so the trip to the bank should be planned in advance.
 
Account for a foreign company
A non-resident company can open a current account in hryvnia and foreign currency, and an investment account for investing in Ukraine. Contributions to share capital and purchases of stakes and shares go through it, and later the repatriation of investments and dividends within NBU restrictions. If a foreign company is investing in a Ukrainian LLC, the steps are described in our article on LLC registration in Ukraine for foreigners.
 
A company usually needs:
  • an extract from the trade register of its home country, issued within the last few months;
  • its charter or other constitutional document;
  • a resolution on opening the account and on the persons authorized to operate it;
  • passports of the director, authorized signatories and ultimate beneficial owners;
  • an ownership structure chart down to individuals;
  • information on its business, counterparties and sources of funding.
Documents issued abroad must be apostilled or legalized and translated into Ukrainian. Specimen signatures can be certified by a foreign notary and then apostilled, so the director does not need to travel. If the company already has a representative office in Ukraine, the account is opened for the office as a separate subdivision — see our articles on registering a representative office of a foreign company and accreditation of a foreign charity’s representative office.
 
How banks review clients
Banks most often refuse not because documents are missing, but because the ownership structure or the origin of funds is unclear. If there are several ownership layers between the company and its beneficial owner, an offshore jurisdiction or nominee directors, the bank will ask for documents at every layer. It is better to prepare them in advance, together with a short explanation of the business and the expected transactions.
 
Banks differ in how they deal with non-residents. Banks with foreign capital, such as Raiffeisen Bank, Ukrsibbank, OTP Bank and Credit Agricole, as well as the large state-owned banks, work most consistently with companies and individuals from Europe and the US. For each client we choose a bank based on currency, volumes, the need for an investment account and the language of service.
 
After the account is opened, the bank continues to review the client: it updates the questionnaire and may request documents for a specific payment. If such a request is not answered on time, the bank may suspend operations on the account. It is therefore important to have a person or adviser in Ukraine who will respond to the bank promptly.
 
Our services
  • choosing a bank based on the client’s status, currency and expected transactions;
  • obtaining an RNOKPP for a foreigner;
  • preparation, legalization and translation of account-opening documents;
  • preparing explanations of the ownership structure and sources of funds;
  • support with opening current and investment accounts for individuals and companies;
  • advice on NBU currency restrictions, dividend payments and repatriation of investments;
  • support in responding to the bank’s financial monitoring requests.