Main weekly events from Infobank News Agency
| 1 March 1999 | 48 |
NEW PROCEDURE FOR ISSUING ENTRY VISAS TO COME INTO FORCE IN UKRAINE BY LATE 1999
PRESIDENT INTRODUCES DUTY ON MOBILE TELEPHONES, PURCHASING/SALE OF REAL PROPERTY
NEW PROCEDURE FOR ISSUING ENTRY VISAS TO COME INTO FORCE IN UKRAINE BY LATE 1999
KYIV. The Cabinet of Ministers approved new procedure for issuing entry
visas. The foreign ministry jointly with the state border committee are
to draw up a transition schedule for each country separately, so that a
complete transition is over by Dec.1, 1999.
Before immigration control service is set up in airports, sea ports, car
and rail border crossings, in exceptional cases, entry visas could be
issued for up to 5 days to foreign subjects and persons without
citizenship coming to Ukraine on business on the invitation of government
institutions.
The new procedure provides for several kinds of entry visas, namely:
- diplomatic visas which are extended to persons bearing diplomatic
passports, including staff of foreign embassies and members of their
families, diplomatic couriers, government members, parliament members,
members of international organizations, well-known politicians coming to
Ukraine with diplomatic missions;
- service visas which are extended to technical staff of foreign
embassies and members of their families, representatives of international
organizations, foreign governments, military institutions, military units
that come to Ukraine on business and representatives of foreign
industrial, trade, finance and political circles coming to Ukraine on
business on invitations from government agencies or enterprises;
- business visas which are extended to persons that are founders of joint
venture companies, company representatives entering Ukraine to monitor the
implementations of contracts or as foreign companies experts, as well as
to the staff of foreign companies' offices in Ukraine;
- visas for recovery services staff;
- student visas for persons coming to Ukraine for studies;
- visas for guest scholars, i.e. persons coming to participate in science
conferences, workshops or to do research;
- visas for mass media representatives;
- visas for representatives of religious or humanitarian missions;
- visas for persons coming under cultural or sports exchange programs;
- tourist visas;
- private visas;
- immigration visas for persons coming to Ukraine to work or for permanent
residence;
- visas for persons involved in cargo or passenger shipments on
international transport routes;
Terms of validity of visas for foreign diplomatic and technical embassy
staff and for media representatives is limited by the existing interstate
agreements or the accreditation period for journalists. Student and
immigration work permit visas are extended for 1 year. All other visas,
except transit ones, are to be usually extended for 6 months. Transit
visas will allow single-entry 5-day stay in Ukraine.
P-1 private entry visa is extended following an invitation from Ukraine's
resident attested by police, or an invitation from a Ukrainian medical
institution where an applicant will undergo treatment. P-2 private entry
visa can be extended to foreign subjects of Ukrainian origin following an
applicant's personal application and an interview with representative of a
diplomatic or consular institution in the applicant's country of
residence. Student visas will be granted following an invitation by the
ministry of education of Ukraine, while visas for mass media will be
extended on the invitation from Ukraine's foreign ministry. To get
immigration visas, applicants are to submit a permit from the labor
ministry for work in Ukraine or a permit from a local executive authority
for a stay in Ukraine.
Entry visas could be denied if applicants submit false information or fake
documents; if they do not have insurance stipulated by the Ukrainian
legislation; if they violated the laws of Ukraine during their preceeding
stay; if they do not possess enough money to cover their stay in Ukraine;
if they do not have a medical certificate on HIV testing (required for
over 3-month stay); if they show disrespectful behaviour during an
interview at the diplomatic or consular mission of Ukraine, etc. Visa
application can be denied given less than a year elapsed since the
previous denial. In case of the denial of an application, the reasons for
the denial can be withheld from an applicant.
New visa issuing procedure provides for visa tags to be stuck to visa
pages in a foreign passport. Visa tags will be printed by the National
Bank of Ukraine mint.
PRESIDENT INTRODUCES DUTY ON MOBILE TELEPHONES, PURCHASING/SALE OF REAL
PROPERTY
KYIV. On Feb. 23, the President of Ukraine issued a decree by which he
introduced new additional duties which will go to the pension fund. These
duties will be imposed on the purchasing/sale of real property and
services provided by mobile communication operators.
As the decree says, these duties are introduced on a temporary basis, for
the period until all the pension arrears have been liquidated. From now
on, 1 percent of the value of each real property purchase/sale transaction
will be paid into the pension fund (by the buyer of real property). The
other duty, one on each mobile telephone registered by legal or natural
entities, will amount to UAH 10 per month.
The duty will not be imposed on the buyer if it is an agricultural
commodities manufacturer paying a fixed agricultural tax or a foreign
establishment which falls under the immunities and privileges provided by
the Ukrainian laws and international agreements passed by the Supreme
Council of Ukraine. Nor will the duty be paid if real property is being
purchased by a state-run company or establishment at the expenses of
budget funds. Also, the decree does not effect the relations which appear
owing to the privatization of an accommodation.
Under the decree, the certification by a notary or registration with real
property purchase/sale agreement exchanges may only be conducted if the
documents confirming the payment of the new duty into the pension fund are
available.
PRESIDENT KUCHMA SIGNS CHANGED VERSION OF PRIVATIZATION PROGRAM FOR 1999.
STATE PROPERTY WILL NOT BE SOLD FOR OVDPs
KYIV. On Feb.24, President Kuchma signed a new version of the state
program for privatization for 1999. As has been earlier reported by
Infobank, the original program was signed Dec.30, 1998, but parliament
soon rejected it.
Sources in the presidential administration told Infobank's correspondent
that President Kuchma included lawmaker's major proposals in the second
version. In particular, the new version does not forsee the selloff of
property for domestic loan T-bills, or OVDPs. Neither does it include a
former provision that all investment be directly included to the corporate
statutory fund. In addition, the new version provides for the circulation
of privatization property certificates till May 1, 1999 and for the final
auction for privatization property certificates to be held within this
period.
The new program retains a provision whereby state-owned property of large
and medium sized companies is to be sold in 100%, 75% or 50% stakes minus 1
share. In the two latter cases, the unsold stake could be retained by
the state for the period of up to 5 years. For the case of large and
medium sized companies selloff, the program provides for preemptive
rights for company personnel to buy UAH 750 worth of stock at nominal
value. Following this, company management may also buy stock at nominal
value, up to 5% of the statutory fund.
The new program also retains the recommendation by the State Property
Fund to give preference to single investors when selling off large
companuies. For large companies, President Kuchma suggested a preliminary
sale of a 5% stake in an appropriate JSC - to determine the tentative
price of large stakes.
GOVERNMENT WANTS 4-FOLD INCREASE IN 1999 OVDPs
KYIV. On Feb.25, Ukraine's Cabinet of Ministers took a decision to
increase to UAH 2.988 billion the issue of 1999 domestic loan T-bills.
Originally, the cabinet planned to issue T-bills worth UAH 750 million
this year.
These bonds' maturity may be set for the period of 28, 63, 91, 182 and 273
days as well as 12, 18, 24 and 36 months, and for a fixed date.
The internal bonds' interest has been fixed at 0 percent. However, they
will be sold to natural and legal entities on a voluntary basis at a price
which is lower than the nominal value. Hence, the difference between the
bond's purchasing price and its nominal value, when due, will make up the
bond earnings.
The nominal value of one bond will amount to UAH 100. The bonds will be
retired by check. The National Bank will serve as general agent in charge
of the issue, servicing and retirement of the 1999 bonds. NBU is
authorized to attract commercial banks to be engaged in these operations
as dealers. All the earnings from the placement of the 1999 bonds will be
directed to the state budget.
As has been earlier reported by Infobank, Moody's investment service gave
a Ca rating to domestic loan T-bills nominated in Hryvnias. Ca is one of
the lowest ratings awarded by Moody's.
NBU LIBERALIZES CURRENCY MARKET
KYIV. The National Bank of Ukraine has submitted a number of regulations
on the liberalization of currency market for registration with the
ministry of justice. The regulations were approved on Feb. 24 and will
become effective as soon as they have been registered.
Under one of the regulations, commercial banks are permitted to give
residents hryvnia loans which later can be converted, fully or partially,
into foreign currency for the purposes specified in the credit agreements.
Such loans, however, may be given only if a creditor bank deposits funds
in the hryvnia by way of placing them in a special account in the joint
stock bank Crearing House until the borrower fully repays the credit. The
funds can be deposited by a commercial bank after it signs the credit
agreement with a borrower, but before the transaction of buying foreign
currency has been conducted.
The requirements regarding depositing funds do not concern the
transactions of giving hryvnia loans by commercial banks with a view to
buying foreign currency in order to pay for critical imports contracts or
buying fuels.
Under another regulation, banks are permitted to buy freely convertible
currency at the inter-banking currency market for their own needs and on
behalf of their clients, provided the currency is used for the repayment
of foreign loans (including the interest, commission, etc). The currency
can be purchased not earlier than in 6 calendar days from the date credit
funds were placed in the resident's account and if the interest rate does
not exceed 20 percent annual. If the interest rate is higher, the loan is
to be repaid at the bank's expense. Under the same regulation, in
transactions with foreign cash the exchange rate of hryvnia to the foreign
currency must not differ from the official rate of the National Bank of
Ukraine by more than 10 percent, including commission.
The third regulation prohibits currency exchange counters to deny natural
entities buying or selling foreign currency if the exchange counters have
the funds available for carrying out these operations.
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