The draft law, prepared by the National Bank of Moldova, provides for the possibility of performing without restrictions currency operations between residents and non-residents, as well as payments and transfers within the framework of such operations. The issuance of authorizations by the regulator for currency transactions will also be abolished. In addition, the rules of cash currency movement (export/import), including in unaccompanied baggage, in accordance with the Customs Code are prescribed.
According to the document, the Law on repatriation of money, goods and services obtained as a result of foreign economic transactions will be recognized null and void. And the obligation of the National Bank of Moldova to submit to the State Tax Service information on persons who have received authorization to open accounts abroad, as well as reports on accounts opened abroad, will be abolished.
The limit will increase tenfold
As noted in the explanatory note to the draft, liberalization will be gradual. In this context, another draft law of the NBM was presented three weeks ago. It stipulates that foreign exchange operations can be carried out without authorization of the NBM, if their amount does not exceed 100 thousand euros, from the moment when this change will enter into force. More precisely, one month after the publication of the law.
As of January 1, 2028, the threshold is expected to be increased up to 250 thousand euros. Currently, the amount of currency transactions cannot exceed 10 thousand euros.
At the same time, it is stressed that the liberalization of capital flows and the abolition of permits for currency transactions do not exclude the application of legislation in the field of anti-money laundering and countering the financing of terrorism, as well as prudential supervision of financial institutions.
