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07.03.2014

Regulation on Conditions and Procedures for Performing Foreign Exchange Operations, DCA of the NBM no.8 of January 28, 2010

Note: The translation is unofficial, for information purpose only

Published in the Official Monitor of the Republic of Moldova no.41-43 of 26.03.2010, Art.177

Registered
at Ministry of Justice
of the Republic of Moldova
no.739 of March 3, 2010

Council of Administration
of the National Bank of Moldova

 

Decision no.8
of January 28, 2010

On the approval of the Regulation on Conditions and Procedures
for Performing Foreign Exchange Operations

Pursuant to Art.5 item l), Art.11 and 51 of the Law on the National Bank of Moldova no.548-XIII of July 21, 1995 (Official Monitor of the Republic of Moldova, 1995, no.56-57, Art.624), with further amendments and completions, and provisions of the Law on Foreign Exchange Regulation no.62-XVI of March 21, 2008 (Official Monitor of the Republic of Moldova, 2008, no.127-130, Art.496), the Council of Administration of the National Bank of Moldova

DECIDES:

1. To approve the Regulation on Conditions and Procedures for Performing Foreign Exchange Operations, according to Attachment no.1 to this Decision.

2. To abrogate certain normative acts of the National Bank of Moldova, according to Attachment no.2 to this Decision.

3. This Decision shall take effect upon expiry of 15 days from the date of publication in the Official Monitor of the Republic of Moldova.

Chairman
of the Council of Administration

Dorin DRĂGUŢANU

 

Attachment no.1
to the Decision of the Council of Administration
of the National Bank of Moldova
no.8 of January 28, 2010

Regulation
on Conditions and Procedures for Performing Foreign Exchange Operations

Amended by:
DCA of the NBM no.223 of 4.11.2010, Official Monitor of the Republic of Moldova no. 247-251 of 17.12.2010, art. 979);
DCA of the NBM no.201 of 17.10.2013, Official Monitor of the Republic of Moldova no. 297-303 of 20.12.2010, art.1875);
DCA of the NBM no.15 of 30.01.2014, Official Monitor of the Republic of Moldova no.53-59 of 07.03.2014, art.324).

TITLE I
COMMON PROVISIONS

Chapter I
General provisions

1. This Regulation shall use notions defined in the Law on Foreign Exchange Regulation no.62-XVI of March 21, 2008 (Official Monitor of the Republic of Moldova, 2008, no.127 - 130, Art.496), hereinafter - Law no.62–XVI of 21.03.2008. Also, for the purpose of this Regulation the following notions shall be used:
a) family expenses – expenses for maintenance of family members;
a1) account – general notion that includes bank account and payment account, unless otherwise resulted from the meaning of a provision;
a2) bank account – analytical account opened by the licensed bank on the name of an account holder, through which the operations related to receipts and /or payments of funds are made, and that also includes payment account that is opened with the licensed bank as a payment service provider and an electronic money issuer under the Law on payment services and electronic money no.114 of May 18, 2012 (Official Monitor of the Republic of Moldova, 2012, no.193 - 197, Art.661), hereinafter - Law no.114 of 18.05.2012;
a3) payment account – payment account defined by the Law no.114 of 18.05.2012;
b) justifying documents – documents that justify the making by legal entities and individuals of payments and transfers within foreign exchange operations and that are specified in Title II Chapter VI and in Title III Chapter V of this Regulation;
c) family member – parent, child, adopter, adopted child, husband /wife, brother /sister, grandfather /grandmother and grandson /granddaughter, tutor /guardian, the person under tutorship /guardianship;
d) currency exchange operations in cash with individuals – operations as defined in Regulation on Foreign Exchange Entities, approved by the Decision of the Council of Administration of the National Bank of Moldova no.53 of March 5, 2009 (Official Monitor of the Republic of Moldova, 2009, no.62-64, art.269);
e) resident individuals – individuals specified in item a) sub-paragraph 9) Article 3 of the Law no.62-XVI of 21.03.2008;
f) non-resident individuals – individuals specified in item a) sub-paragraph 10) Article 3 of the Law no.62-XVI of 21.03.2008;
g) resident legal entities – residents specified in items b) – g) sub-paragraph 9) Article 3 of the Law no.62–XVI of 21.03.2008;
h) non-resident legal entities – non-residents specified in items b) – i) sub-paragraph 10) Article 3 of the Law no.62–XVI of 21.03.2008;
i) single payment /transfer – the one-time payment /transfer made by the individual or legal entity via a payment order /form / a written request;
i1) resident non-bank payment service providers (non-bank RPS providers) – legal entities (other than licensed banks, the National Bank of Moldova and the State Treasury) that under the Law no.114 of 18.05.2012 are entitled to provide payment services;
i2) resident payment service providers (RPS providers) – legal entities that under the Law no.114 of 18.05.2012 are entitled to provide payment services and for the purpose of this Regulation include licensed banks and resident non-bank payment service providers;
j) written request – the document authenticated by a resident or non-resident, by which this person expresses the willingness to deposit funds into the account /receive funds from the account, to make a payment /transfer within the foreign exchange operation, to dispose the funds received by the RPS provider in favor of this person, and that meets the requirements specified in this Regulation, being kept at the RPS provider to which it was submitted. As written request may be considered any document used by the RPS provider while performing foreign exchange operations (for example, the payment order) in the event that it meets the aforementioned conditions;
k) foreign exchange entities - residents specified in paragraph (2) Article 41 of the Law no.62-XVI of 21.03.2008.
(Item 1 modified by the Decision of the NBM no.15 of 30.01.2014)

(Item 1 modified by the Decision of the NBM no.201 of 17.10.2013)

2. This Regulation establishes:
a) some particularities related to accounts opened with RPS providers, that are used within foreign exchange operations;
b) the rules of receiving /making non-cash payments and transfers within foreign exchange operations by residents and non-residents through RPS providers;
c) the procedure of performing exchange operations in the Republic of Moldova;
d) the rules of receiving /making payments and transfers in cash and with use of traveller’s cheques within foreign exchange operations by residents and non-residents through RPS providers;
e) the particularities of receiving /making payments and transfers within foreign exchange operations by the licensed banks and non-bank RPS providers;
f) the requirements for the documents to be submitted to the RPS providers by residents and non-residents in case of payments and transfers within foreign exchange operations;
g) the conditions relating to the operations in cash and with the use of traveller’s cheques in foreign currency within foreign exchange operations of some legal entities.
(Item 2 modified by the Decision of the NBM no.201 of 17.10.2013)

3. The provisions of this Regulation shall not be applied when performing foreign exchange operations between the RPS providers and the National Bank of Moldova.
(Item 3 modified by the Decision of the NBM no.201 of 17.10.2013)

31. This Regulation lays down general rules related to performing foreign exchange operations through /by RPS providers, which are applied by providers depending on the activities permitted them under the legislative acts that regulate their activity, as well as taking into account the peculiarities related to these activities provided for by given legislative acts.
(Item 31 introduced by the Decision of the NBM no.201 of 17.10.2013)

32. Unless otherwise is provided for by this Regulation, its provisions related to performing foreign exchange operations through /by non-bank RPS providers shall also be applied accordingly in case of performing foreign exchange operations through /by resident electronic money issuers in connection with issuing the electronic money and provision of payment services related to the issue of electronic money.
(Item 32 introduced by the Decision of the NBM no.201 of 17.10.2013)

33. Unless otherwise is provided for by this Regulation, its provisions related to performing foreign exchange operations through /by non-bank RPS providers shall be established for these providers as payment service providers /electronic money issuers.
(Item 33 introduced by the Decision of the NBM no.201 of 17.10.2013)

34. Provisions of this Regulation related to performing foreign exchange operations through /by postal operators as payment service providers shall also be applied accordingly in case of performing through /by this operators of foreign exchange operations through the exchange of postal money orders.
(Item 34 introduced by the Decision of the NBM no.201 of 17.10.2013)

4. The provisions of this Regulation contain the requirements in terms of foreign exchange regulation and do not exempt the non-residents and residents, including the RPS providers, from compliance with other requirements of the legislation of the Republic of Moldova (including legislation in the field of prevention and combating money laundering and terrorist financing, in the field of provision of payment services and issuing the electronic money, in the field of postal services etc.).
(Item 4 modified by the Decision of the NBM no.201 of 17.10.2013)

5. On the territory of the Republic of Moldova, the residents and non-residents may receive /make payments and transfers in foreign currency (in cash and non-cash) upon condition that they are permitted under the Law no.62-XVI of 21.03.2008.

6. On the territory of the Republic of Moldova, the payments and transfers may be received /made in cash in foreign currency and with use of traveller’s cheques in foreign currency, as well as in cash in national currency within foreign exchange operations in cases provided by the Law no.62-XVI of 21.03.2008.
(Item 7 abrogated by the Decision of the NBM no.201 of 17.10.2013)

8. The non-cash payments and transfers within foreign exchange operations can be received /made in various forms, such as bank transfer, with the use of cheques (other than traveller’s cheques), cards etc.

9. Traveller’s cheques in foreign currency issued by the RPS providers, as well as cheques (other than traveller’s cheques) in foreign currency issued by the RPS providers shall be used for the purposes for which they were issued.
(Item 9 modified by the Decision of the NBM no.201 of 17.10.2013)

10. In the event that a resident or non-resident makes several single payments /transfers, the RPS provider shall not be allowed to cumulate the amounts of these payments /transfers for their transfer in a single amount.
(Item 10 modified by the Decision of the NBM no.201 of 17.10.2013)

11. In the event that this Regulation requires the submission of the identity document, the resident individual shall submit the identity document of the national passport system (identity card, permit for permanent residence etc. issued by the competent authority of the Republic of Moldova) that proves the domicile in the Republic of Moldova, while the non-resident individual shall submit the passport issued by the competent authority of the foreign state, the permit for temporary residence issued by the competent authority of the Republic of Moldova etc.

12. In the event that according to the provisions of this Regulation the documents submitted to the RPS providers by the legal entities and individuals shall be authenticated by the stamp or/and signatures of the respective persons, these documents may be submitted in electronic form as follows:
a) the written request in the form of payment document used to make non-cash payments /transfers – shall be submitted in accordance with the provisions of the normative acts of the National Bank of Moldova that regulate the submission of payment documents in electronic form;
b) other documents – shall be submitted in electronic form, being authenticated in mode agreed between the RPS provider and its client, so that the RPS provider would be sure that the document submitted in electronic form was received from the respective client and is authentic.
(Item 12 modified by the Decision of the NBM no.201 of 17.10.2013)

13. In the event that the Law no.62-XVI of 21.03.2008 and this Regulation provide for quantitative limits in euro, within which payments /transfers in a currency other than euro may be received /made, in order to verify the compliance with the specified limits, the equivalent in another currency shall be determined by applying the official exchange rate of Moldovan Leu valid on the date of receiving /making the respective payments /transfers and in the event of performing the foreign exchange operations with the use of cards - by applying the official exchange rate of Moldovan Leu valid on the date of performing operation by the card holder.

14. Residents and non-residents may receive /make payments and transfers within foreign exchange operations in the currency indicated in the justifying documents or in another currency, if the law or justifying documents do not provide otherwise.

15. Except for the case specified in item 41 of this Regulation, in the event that the amount of payment /transfer is indicated in the justifying documents in a certain currency, while the payment /transfer is made in another currency, the amount of payment /transfer to be made shall be calculated according to the amounts in the currency indicated in the respective documents by applying the official exchange rate of Moldovan Leu valid on the date of performing payment /transfer, if the law or justifying documents do not provide otherwise. If the payments /transfers are made with the use of card, the determination of the equivalent in another currency of the given amount shall be carried out by applying the exchange rate established by the RPS provider /card payment system for operations with cards.
(Item 15 modified by the Decision of the NBM no.201 of 17.10.2013)

16. In order to apply the provisions of this Regulation, the RPS providers shall elaborate detailed internal regulations.
(Item 16 modified by the Decision of the NBM no.201 of 17.10.2013)

161. In the event when the foreign exchange operations are performed with the use of payment instruments (defined so under the Law no.114 of 18.05.2012) and, depending on the particularity of the used payment instruments or depending on the method of its using, at the time of performing the foreign exchange operation it is not possible to submit to the RPS provider the documents stipulated by this Regulation, the given RPS provider shall apply its internal regulations.
(Item 161 introduced by the Decision of the NBM no.201 of 17.10.2013)

162. Internal regulations indicated in item 161 shall establish actions /terms /procedures /modalities of verification that have to be implemented /executed by the RPS provider and /or by its clients in order to ensure compliance with the provisions of the foreign exchange legislation, including the requirements of authorizations issued by the National Bank of Moldova in cases established by the Law no.62–XVI of 21.03.2008.
(Item 162 introduced by the Decision of the NBM no.201 of 17.10.2013)

 

Chapter II
Some particularities related to accounts opened with RPS providers

that are used within foreign exchange operations
(Name of Chapter II in wording of the Decision of the NBM no.201 of 17.10.2013)

17. When opening and administrating accounts of clients, the RPS providers shall determine the status of resident or non-resident (under the foreign exchange regulation) of persons on whose name the accounts are opened, in order to ensure compliance with the foreign exchange legislation while rendering services.
(Item 17 in wording of the Decision of the NBM no.201 of 17.10.2013)

(Items 18 and 19 are abrogated by the Decision of the NBM no.201 of 17.10.2013)

20. Accounts in national and foreign currency, aimed for funds management within the technical assistance projects for the Republic of Moldova, where the implementing institutions from side of foreign party are non-residents, shall be opened by the RPS providers on the name of the foreign implementing institutions (project operators) indicated in the list of technical assistance projects approved by the respective act of the Government of the Republic of Moldova.
(Item 20 modified by the Decision of the NBM no.201 of 17.10.2013)

21. In case of receiving /making payments /transfers through the accounts mentioned in item 20 of this Regulation, the rules established for non-resident legal entities, that are the implementing institutions within the technical assistance projects for the Republic of Moldova, shall be applied or, depending on the status of the foreign implementing institutions, the rules established for the official representative offices of foreign states and for the international organizations accredited in the Republic of Moldova shall be applied.

 

TITLE II
FOREIGN EXCHANGE OPERATIONS OF INDIVIDUALS

Chapter I
Non-cash payments /transfers within
foreign exchange operations of individuals

Section 1. General provisions

22. The provisions of this chapter shall be applied in the following cases:
1) in case of receiving by individuals through the RPS providers of non-cash payments /transfers within foreign exchange operations;
2) in case of making by individuals, with or without the use of accounts opened with the RPS providers, of non-cash payments /transfers:
a) in foreign /national currency in favour of non-residents abroad and on the territory of the Republic of Moldova;
b) in foreign /national currency abroad in favour of residents;
c) in foreign currency in favour of residents on the territory of the Republic of Moldova;
d) in national currency made by non-resident individuals in favour of residents on the territory of the Republic of Moldova.
(Item 22 modified by the Decision of the NBM no.201 of 17.10.2013)

Section 2. Receiving non-cash payments /transfers
by individuals through the RPS providers

(Name of Section 2 modified by the Decision of the NBM no.201 of 17.10.2013)

23. The amount of non-cash payment /transfer within the foreign exchange operation received by the RPS providers in favour of individual may be:
a) provided in cash and /or in traveller’s cheques in foreign currency;
b) entered to the account of the individual who is the beneficiary of the payment /transfer;
c) transferred to the same or another RPS provider on the name of the individual who is the beneficiary of the payment /transfer, in order to be entered to his account;
d) used for making non-cash payment /transfers provided for the foreign exchange legislation of the Republic of Moldova for individuals;
e) sold to the RPS provider against the national currency /other foreign currency (in case of foreign currency) or used to purchase foreign currency (in case of national currency) to perform foreign exchange operations provided for the foreign exchange legislation of the Republic of Moldova for individuals;
f) returned to the sender of funds.
(Item 23 modified by the Decision of the NBM no.201 of 17.10.2013)

24. The operations specified in item 23 of this Regulation shall be performed as follows:
a) the operations specified in sub-items a), b) and f) item 23 – according to the written request of the individual who is the beneficiary of the respective payment /transfer (signed by the respective individual), upon submission by him to the RPS provider of the identity document;
b) the operations specified in sub-items c) and d) item 23 – according to the rules established in this title for making by individuals of non-cash payments /transfers;
c) the operations specified in sub-item e) item 23 - according to the rules established in the Chapter IV of this title by submitting the identity document.
(Item 24 modified by the Decision of the NBM no.201 of 17.10.2013)

25. The requirements for the written request mentioned in sub-item a) item 24 of this Regulation shall be established by the RPS providers.
(Item 25 modified by the Decision of the NBM no.201 of 17.10.2013)

26. The submission of the written request and of the identity document mentioned in item 24 of this Regulation shall not be mandatory in the event that:
a) in the payment document, on the basis of which the amount was received by the RPS provider, besides the name and surname of the beneficiary, the number of his account opened with this RPS provider is also indicated; or
b) there is a written application of the individual-account holder to enter to his account the amounts of non-cash payments /transfers received by the RPS provider in favour of this individual; or
c) the funds are returned to the sender in cases other than the refusal of the beneficiary of the payment /transfer to receive the respective funds.
(Item 26 modified by the Decision of the NBM no.201 of 17.10.2013)

Section 3. Making non-cash payments /transfers
by individuals through the RPS providers
(Name of Section 3 modified by the Decision of the NBM no.201 of 17.10.2013)

27. In order to make non-cash payment /transfer within foreign exchange operations, the individual shall submit to the RPS provider the following documents, without limitation thereto:
a) the identity document;
b) the written request for making the payment /transfer signed by the respective individual;
c) the justifying documents, except for the cases expressly specified in this Regulation or in other normative acts of the National Bank of Moldova in the field of foreign exchange regulation;
d) the respective certificate /notification /authorization – in the event that under the Law no.62 - XVI of 21.03.2008 the foreign exchange operation (within which the payment /transfer is made) is subject to notification to the National Bank of Moldova /authorization of the National Bank of Moldova.
(Item 27 modified by the Decision of the NBM no.201 of 17.10.2013)

(Item 28 abrogated by the Decision of the NBM no.201 of 17.10.2013)

29. The written request for making the payment /transfer shall include the following data, without limitation thereto:
a) data on the recipient of the payment /transfer (the name, full name etc.);
b) the purpose of the payment /transfer that shall be indicated in detail (for example, the payment for medical treatment, for study, for purchase of books, grant, family expenses);
c) the name and, if any, the number and date of the justifying document – in the event that the payment /transfer is made on the basis of the justifying document;
d) the name, number and date of the respective document - in the event that the payment /transfer is made upon submission to the RPS provider of a certificate /notification /authorization, provided for by the normative acts of the National Bank of Moldova in the field of foreign exchange regulation.
(Item 29 modified by the Decision of the NBM no.201 of 17.10.2013)

30. The amount of payment /transfer within the foreign exchange operation shall not exceed the amount specified in the justifying documents, in the event that pursuant to the provisions of this title the justifying document has to contain data about the amount of the payment /transfer.

31. The requirements for the documents indicated in sub-items a) and c) item 27 of this Regulation shall be provided for in Chapter VI of this title.

32. In the event that pursuant to the provisions of this title the non-cash payment /transfer within the foreign exchange operation is made by an individual upon submission to the RPS provider of the justifying documents, the RPS provider, through which the individual makes the payment /transfer, shall be obliged to verify:
a) the correspondence of the data indicated in the written request for making the payment /transfer with the data indicated in the justifying documents (taking into account the amending documents, if any);
b) if the amount specified in the written request for making the payment /transfer does not exceed the amount specified in the justifying documents (taking into account the amending documents, if any) – in the event that pursuant to the provisions of this title the justifying document shall contain data about the amount of the payment /transfer;
c) the existence and correctness of the records specified in item 91 and, where appropriate, in item 93 of this Regulation on the photocopies of the respective documents.
(Item 32 modified by the Decision of the NBM no.201 of 17.10.2013)

33. The requirements for the documents indicated in sub-item d) item 27 of this Regulation and the respective actions of the RPS providers shall be established in the normative acts of the National Bank of Moldova, which regulate the foreign exchange operations that are subject to notification to the National Bank of Moldova /authorization of the National Bank of Moldova.
(Item 33 modified by the Decision of the NBM no.201 of 17.10.2013)

34. In the event of making the payment /transfer in favour of the resident individual who is abroad, the person who makes the respective payment /transfer shall bear the responsibility for the fact that the payment /transfer is made in favour of the given resident individual.

 

Chapter II
Peculiarities of making non-cash payments /transfers
within foreign exchange operations by resident individuals

Section 1. General provisions

35. The provisions of this chapter shall be applied in case of making by resident individuals, with or without the use of the accounts opened with the RPS providers, of non-cash payments /transfers:
a) in foreign /national currency in favour of non-residents abroad and on the territory of the Republic of Moldova;
b) in foreign /national currency in favour of residents abroad;
c) in foreign currency in favour of residents on the territory of the Republic of Moldova.
(Item 35 modified by the Decision of the NBM no.201 of 17.10.2013)

(Item 36 abrogated by the Decision of the NBM no.201 of 17.10.2013)

Section 2. Transfer of funds for family expenses

37. The resident individual may make abroad the transfer of funds for family expenses in favour of each family member-resident individual who is abroad and transfer of funds for family expenses in favour of each family member-non-resident individual, as follows :
a) single transfer in the amount not exceeding 1000 euros (or their equivalent) – without submission to the RPS provider of the documents confirming the kinship /marriage relation or the established tutorship /guardianship;
b) single transfer in the amount of over 1000 euros (or their equivalent), but not exceeding 10000 euros (or their equivalent) – upon submission to the RPS provider of the documents confirming the kinship /marriage relation (birth certificate, marriage certificate etc.) or the established tutorship /guardianship;
c) transfer in the amount exceeding 10000 euros (or their equivalent) – upon submission to the RPS provider of the documents confirming the kinship /marriage relation or the established tutorship /guardianship and the documents confirming the necessity of making the payment /transfer by the individual in the favour of whom the payment /transfer is made and containing data on the amount of the payment /transfer.
(Item 37 modified by the Decision of the NBM no.201 of 17.10.2013)

38. In the event of making the transfer referred to in item 37 of this Regulation, the relation of kinship /marriage /tutorship /guardianship with the individual in favour of whom the transfer is made (for example, daughter, spouse, tutor etc.) shall be indicated in the written request for making the transfer.

Section 3. Transfer related to the establishment
of the individual’s domicile abroad

39. The resident individual establishing his domicile abroad may transfer abroad funds that are held under right of property upon submission to the RPS provider of the following documents:
a) the identity document of the resident individual in which the exit visa is applied by the competent authority of the Republic of Moldova (the passport issued to a citizen of the Republic of Moldova or to a stateless person to exit /entry the Republic of Moldova or the national passport of the foreign citizen);
b) the documents confirming the holding, under right of property, of funds subject to transfer from the Republic of Moldova (for example, contract for purchase-sale of real estate, of securities; certificate of inheritance);
c) the certificate on the absence or existence of arrears to the national public budget, issued by the fiscal authority of the Republic of Moldova on the name of the person establishing the domicile abroad. This certificate shall simultaneously meet the following conditions: to confirm the absence of arrears to the national public budget, to be issued not earlier than 5 working days before the date of submission to the RPS provider of the written request for making the transfer and not earlier than the day following the performance of property sale transaction or of other transactions, as a result of which the funds subject to transfer were obtained;
d) other documents that the individual deems necessary to submit for making the transfer related to the establishment of domicile abroad.
(Item 39 modified by the Decision of the NBM no.201 of 17.10.2013)

40. In the event that the documents referred to in sub-item b) item 39 of this Regulation provide for several property owners, the amount of funds that may be transferred shall be calculated taking into account the quota, held under right of property by the resident individual establishing his domicile abroad, as determined according to the legislation.

41. In the event that the documents referred to in sub-item b) item 39 of this Regulation provide for the amounts in a certain currency, while the transfer of funds is made in another currency, the amount that may be transferred shall be calculated according to the amounts in the currency indicated in the respective documents, as follows:
a) in the event that there was performed the transaction, as a result of which the individual received funds under the right of property – the official exchange rate of Moldovan Leu valid on the date of respective transaction performance shall be applied;
b) in the event that the funds, which the individual holds under the right of property, represent the wage or other similar rewards – the official exchange rate of Moldovan Leu valid on the date of obtaining the funds (in accordance with the documents confirming the source of obtaining the respective funds under the right of property) shall be applied. In the event that the mentioned documents confirm the obtaining by the individual of specified funds during a certain period (for example, during a month or a year), the average rate for the respective period (for example, the average monthly /annual rate) shall be applied;
c) in other cases – the official exchange rate of Moldovan Leu valid on the date of submission by the resident individual to the RPS provider of the written request for making transfer of funds shall be applied.
(Item 41 modified by the Decision of the NBM no.201 of 17.10.2013)

42. The average exchange rate for the respective period shall be calculated as follows: the sum of official exchange rates of Moldovan Leu against a certain foreign currency for all calendar days of the respective period shall be divided by the number of calendar days of the relevant period.

Section 4. Transfer from the Republic of Moldova
related to temporary stay abroad

43. The resident individual may transfer funds abroad on his name for the purpose of own expenses for the period of temporary stay abroad within the foreign exchange operations which, according to the Law no.62 - XVI of 21.03.2008, may be performed without the authorization of the National Bank of Moldova, as follows:
a) single transfer in the amount more than 1000 euro (or their equivalent) and not exceeding 10000 euros (or their equivalent) – upon submission to the RPS provider of the documents confirming the temporary stay abroad (for example, confirmation of a foreign educational institution, medical institution or employer from abroad, a permit for temporary residence in the respective foreign state);
b) transfer in the amount exceeding 10000 euros (or their equivalent) – upon submission to the RPS provider of the documents confirming the temporary stay abroad and of the documents confirming the necessity of making by the individual of payment /transfer and containing data on the amount of payment /transfer;
c) single transfer in the amount not exceeding 1000 euros (or their equivalent) – without submission of the justifying documents to the RPS provider.
(Item 43 modified by the Decision of the NBM no.201 of 17.10.2013)

Section 5. Transfers abroad for the purpose of obtaining visa

44. The resident individual may transfer funds abroad on his name in order to obtain entry visa to foreign state upon submission to the RPS provider of the following documents:
a) the document /information confirming the need of availability abroad of funds on name of the respective individual in order to obtain a visa and containing data on the amount of necessary funds (for example, the document /information of the diplomatic mission of the foreign state that specifies the requirement to deposit funds to the account opened with a foreign bank in order to obtain an entry visa and the amount required to be deposited);
b) the documents confirming the purpose /reason of the visit, required for the submission to the respective diplomatic mission /consular office in order to obtain the respective visa (for example, official invitation from a non-resident individual for a private visit, official invitation from a foreign company in case of business trip, confirmation of making medical treatment abroad, confirmation of educational institution on admission to study, travel package).
(Item 44 modified by the Decision of the NBM no.201 of 17.10.2013)

Section 6. Transfers in the form of donation

45. Without submission to the RPS provider of the justifying documents, the resident individual may transfer funds in the form of donation in the amount not exceeding 1000 euros (or their equivalent), as follows:
a) single transfer abroad in favour of a resident individual who is abroad;
b) single transfer abroad in favour of diplomatic mission, consular office or other official representative office of the Republic of Moldova abroad;
c) single transfer in favour of a non-resident individual or legal entity.
(Item 45 modified by the Decision of the NBM no.201 of 17.10.2013)

Section 7. Non-commercial socially important
payments /transfers

46. The resident individual may perform in favour of resident individual who is temporary abroad, in favour of a non-resident individual /legal entity non-commercial socially important payments /transfers specified in paragraph (9) Article 25 of the Law no.62 – XVI of 21.03.2008, as follows:
a) if the amount of the single payment /transfer does not exceed 1000 euros (or their equivalent) - without submission to the RPS provider of the justifying documents;
b) if the amount of payment /transfer exceeds 1000 euros (or their equivalent) - upon submission to the RPS provider of the justifying documents (for example, court’s decision), which shall contain the purpose of payment /transfer and data on the amount of the payment /transfer.
(Item 46 modified by the Decision of the NBM no.201 of 17.10.2013)

Section 8. Some transfers of resident individual
to his account opened abroad

47. The transfer of the resident individual to his account opened abroad in the case specified in item b) paragraph (5) Article 13 of the Law no.62-XVI of 21.03.2008 shall be made upon submission to the RPS provider of the following documents:
a) the justifying documents regarding the performance of operations related to direct investments or of real estate operations, which shall contain information on the amount of the payment /transfer; and
b) the document /information (for example, excerpt from the foreign state law) which confirms that the opening by the investors (on their names) of accounts aimed for performing abroad of operations related to direct investments and of real estate operations is mandatory under the law of foreign state where the operations are performed.
(Item 47 modified by the Decision of the NBM no.201 of 17.10.2013)

48. The transfer by the resident individual to his account opened with financial institution from abroad under the authorization issued by the National Bank of Moldova shall be made upon submission to the RPS provider of the NBM authorization for opening the respective account abroad, which provides for the possibility of making the transfer from the Republic of Moldova to this account, and, if it is specified in the NBM authorization, upon submission of the justifying documents.
(Item 48 modified by the Decision of the NBM no.201 of 17.10.2013)

Section 9. Other payments /transfers in favour of non-residents

49. The payments /transfers, other than those specified elsewhere in this chapter, may be made by the resident individual in favour of non-residents without submission to the RPS provider of the justifying documents, in the event that the single payment /transfer meets both of the following conditions:
a) the single payment /transfer in favour of a non-resident is made in an amount not exceeding 1000 euros (or their equivalent);
b) the payment /transfer is made within the foreign exchange operation that is not subject to notification to the National Bank of Moldova /authorization of the National Bank of Moldova according to the Law no.62 - XVI of 21.03.2008.
(Item 49 modified by the Decision of the NBM no.201 of 17.10.2013)

50. In the event of making a payment /transfer on the basis of a justifying document, it shall be issued on the name of the individual-account holder /individual who has to make the payment /transfer or on the name of his family member (resident /non-resident individual). In the event of making a payment /transfer on the basis of a document that is not issued on the name of the individual-account holder /individual who has to make the payment /transfer, the document confirming the kinship /marriage relation with the individual /the established tutorship /guardianship in respect of the individual on behalf of whom the payment /transfer is made, shall be submitted to the RPS provider as well.
(Item 50 modified by the Decision of the NBM no.201 of 17.10.2013)

Section 10. Payments /transfers in foreign currency
made on the territory of the Republic of Moldova
in favour of residents

51. Resident individuals shall make payments /transfers in foreign currency on the territory of the Republic of Moldova in favour of residents, as follows:
a) a single payment /transfer in the form of donation under the item a) paragraph (2) Article 21 of the Law no.62-XVI of 21.03.2008 in an amount not exceeding 1000 euros (or their equivalent) - without submission to the RPS provider of the justifying documents;
b) the transfer on the territory of the Republic of Moldova by the resident individual on his name, including to his account - without submission to the RPS provider of the justifying documents;
c) a payment /transfer on the territory of the Republic of Moldova in favour of an individual /legal entity in cases other than those indicated in sub-items a) and b) of this item – upon submission to the RPS provider of the justifying documents confirming the purpose of the payment /transfer and containing data on the amount of the payment /transfer.
(Item 51 modified by the Decision of the NBM no.201 of 17.10.2013)

 

Chapter III
Peculiarities of making non-cash payments /transfers
within foreign exchange operations by non-resident individuals

Section 1. General provisions

52. The provisions of this chapter shall be applied in case of making by the non-residents individuals, with or without the use of accounts opened with the RPS providers, of the non-cash payments /transfers:
a) in foreign /national currency in favour of non-residents abroad and on the territory of the Republic of Moldova;
b) in foreign /national currency in favour of residents abroad;
c) in foreign /national currency in favour of residents on the territory of the Republic of Moldova.
(Item 52 modified by the Decision of the NBM no.201 of 17.10.2013)

Section 2. Transfer of funds for family expenses

53. The non-resident individual may make on the territory of the Republic of Moldova the transfer of funds in foreign currency for the purpose of family expenses in favour of each family member–resident and non-resident individuals, as well as the transfer abroad of funds in foreign /national currency for the purpose of family expenses in favour of each family member- resident individual who is staying abroad and non-resident individual, as follows:
a) the single transfer in an amount not exceeding 1000 euros (or their equivalent) - without submission to the RPS provider of the documents confirming the kinship /marriage relation or the established tutorship /guardianship;
b) the transfer in an amount exceeding 1000 euros (or their equivalent) - upon submission to the RPS provider of the documents confirming the kinship /marriage relation or the established tutorship /guardianship.
(Item 53 modified by the Decision of the NBM no.201 of 17.10.2013)

54. In the event of making the transfer referred to in item 53 of this Regulation, the relation of kinship /marriage /tutorship /guardianship with the individual in the favour of whom the transfer is made, shall be indicated in the written request for making the transfer.

55. The non-resident individuals may make on the territory of the Republic of Moldova transfers of funds in national currency for the purpose of family expenses without submission to the RPS provider of the justifying documents.
(Item 55 modified by the Decision of the NBM no.201 of 17.10.2013)

Section 3. Other payments /transfers abroad
of non-resident individuals

56. The non-resident individual may make abroad payments /transfers, other than those specified in section 2 of this chapter, as follows:
a) the transfer by the non-resident individual on his name, including to his account – without submission to the RPS provider of the justifying documents;
b) a single payment /transfer abroad in favour of an individual /legal entity in an amount not exceeding 1000 euros (or their equivalent) – without submission to the RPS provider of the justifying documents;
c) a payment /transfer abroad in favour of an individual /legal entity in an amount exceeding 1000 euros (or their equivalent) – upon submission to the RPS provider of the justifying documents (for example, those confirming the necessity of making this payment /transfer and containing data on the amount of the payment /transfer).
(Item 56 modified by the Decision of the NBM no.201 of 17.10.2013)

57. The document confirming the necessity of payment /transfer mentioned in sub-item c) item 56 of this Regulation shall be issued on the name of the individual-account holder /individual who has to make the payment /transfer or on the name of his family member (resident /non-resident individuals). In the case of making a payment /transfer on the basis of a document that is not issued on the name of the individual-account holder /individual making the payment /transfer, the document confirming the kinship /marriage relation with the individual /the established tutorship /guardianship in respect of the individual on behalf of whom the payment /transfer is made, shall be submitted to the RPS provider as well.
(Item 57 modified by the Decision of the NBM no.201 of 17.10.2013)

Section 4. Other payments /transfers of non-resident individuals
on the territory of the Republic of Moldova

58. The non-resident individual may make on the territory of the Republic of Moldova the payments /transfers in foreign currency, other than those specified in section 2 of this chapter, as follows:
a) the transfer on the territory of the Republic of Moldova by the non-resident individual on his name, including to his account - without submission to the RPS provider of the justifying documents;
b) a single payment /transfer on the territory of the Republic of Moldova in favour of an individual /legal entity in an amount not exceeding 1000 euros (or their equivalent) - without submission to the RPS provider of the justifying documents;
c) a single payment /transfer on the territory of the Republic of Moldova in favour of an individual /legal entity in an amount exceeding 1000 euros (or their equivalent) – upon submission to the RPS provider of the justifying documents confirming the purpose of the payment /transfer and containing data on the amount of the payment /transfer.
(Item 58 modified by the Decision of the NBM no.201 of 17.10.2013)

59. The non-resident individuals may make on the territory of the Republic of Moldova transfers in national currency, other than those specified in section 2 of this chapter, without submission to the RPS provider of the justifying documents.
(Item 59 modified by the Decision of the NBM no.201 of 17.10.2013)

 

Chapter IV
Procedure for performing exchange operations by individuals

60. The currency exchange operations in cash with individuals shall be performed in accordance with the Regulation on Foreign Exchange Entities, approved by the Decision of the Council of Administration of the National Bank of Moldova no.53 of March 5, 2009 (Official Monitor of the Republic of Moldova, 2009, no.62 - 64, Art.269).

61. The exchange operations, other than those specified in item 60 of this Regulation, shall be performed by resident and non-resident individuals with the RPS providers in accordance with the internal regulations of these providers, which have to ensure the transparency of conditions for performing respective operations, including taking into consideration the requirements of the Law no.114 of 18.05.2012 related to the foreign exchange rate.
(Item 61 modified by the Decision of the NBM no.201 of 17.10.2013)

(Item 61 in wording of the Decision of the NBM no.223 of 04.11.2010)

611. Non-bank RPS providers shall perform exchange operations with their clients closely related to payment services /services of issuing electronic money rendered to these clients.
(Item 611 introduced by the Decision of the NBM no.201 of 17.10.2013)

 

Chapter V
Foreign exchange operations in the accounts of individuals
with the use of cash in foreign and national currency
and of traveller's cheques in foreign currency

Section 1. General provisions

62. The provisions of this chapter shall be applied in case of depositing to /providing from individuals’ bank accounts opened with the RPS providers of the following funds within foreign exchange operations:
a) of cash in foreign currency, of the traveller's cheques in foreign currency into /from the accounts of resident and non-resident individuals;
b) of cash in national currency into /from accounts of non-resident individuals.
(Item 62 modified by the Decision of the NBM no.201 of 17.10.2013)

63. The provision of funds within foreign exchange operations from the accounts of resident and non-resident individuals shall be made according to the internal regulations set by the RPS provider in accordance with legislation of the Republic of Moldova.
(Item 63 modified by the Decision of the NBM no.201 of 17.10.2013)

64. In order to deposit funds to account within foreign exchange operations, the individual shall submit to the RPS provider the following documents, without limitation thereto:
a) the identity document;
b) the written request for funds deposit signed by the respective person;
c) the justifying documents, except for cases expressly specified in this Regulation or in other normative acts of the National Bank of Moldova in the filed of foreign exchange regulation;
d) the respective authorization – in the event that according to the Law no.62-XVI of 21.03.2008 the foreign exchange operation, within which funds are deposited, is subject to the authorization of the National Bank of Moldova.
(Item 64 modified by the Decision of the NBM no.201 of 17.10.2013)

65. The written request for funds deposit shall contain the following data, without limitation thereto:
a) the purpose of depositing the funds that shall be indicated in detail – in the event that the depositing is made by the persons specified in item 71 of this Regulation;
b) the name and, if any, number and date of the justifying document - in the event that the depositing is made based on justifying document;
c) the name, number and date of the respective authorization - the event that the depositing is made upon submission to the RPS provider of the authorization issued by the National Bank of Moldova in cases provided for by the Law no.62-XVI of 21.03.2008;
d) the relation of kinship /marriage /tutorship /guardianship with the individual in favour of whom the depositing is made – in case of depositing the funds for the purpose of family expenses.
(Item 65 modified by the Decision of the NBM no.201 of 17.10.2013)

66. The amount that is deposited within the foreign exchange operation shall not exceed the amount specified in the justifying documents, in the event that according to the provisions of this title the justifying document contains data on the amount of the payment /transfer.

67. The requirements for the documents referred to in sub-items a) and c) item 64 of this Regulation are provided for in Chapter VI of this title.

68. In the event that according to the provisions of this chapter the depositing is made upon submission to the RPS provider of justifying documents, the RPS provider through which the operation is made shall be required to verify the following:
a) the correspondence of the data indicated in the written request for funds deposit with the data indicated in the justifying documents (taking into account the amending documents, if any);
b) if the amount specified in the written request for funds deposit does not exceed the amount specified in the justifying documents (taking into account the amending documents, if any) – in the event that, according to the provisions of this title, the justifying document has to contain data on the amount of the payment /transfer;
c) the existence and correctness of the records specified in item 91 and, where appropriate, in item 93 of this Regulation on the photocopies of the respective documents.
(Item 68 modified by the Decision of the NBM no.201 of 17.10.2013)

69. The requirements for the documents indicated in sub-item d) item 64 of this Regulation and the respective actions of the RPS providers shall be established in the normative acts of the National Bank of Moldova which regulate the foreign exchange operations that are subject to notification to the National Bank of Moldova /authorization of the National Bank of Moldova.
(Item 69 modified by the Decision of the NBM no.201 of 17.10.2013)

70. Within foreign exchange operations, the resident and non-resident individuals-account holders may deposit (including through their empowered persons) funds to their accounts without submission to the RPS provider of the justifying documents.
(Item 70 modified by the Decision of the NBM no.201 of 17.10.2013)

71. The depositing funds within foreign exchange operations by persons, other than those specified in item 70 of this Regulation, (hereinafter – third persons) to the individuals’ accounts shall be performed in cases when the Law no.62-XVI of 21.03.2008 allows to make such payments /transfers, under the conditions of this chapter.

Section 2. Peculiarities of depositing funds within foreign exchange operations
by third persons to the accounts of resident individuals

72. Within foreign exchange operations, the cash in foreign currency and the travellers’ cheques in foreign currency may be deposited to the accounts of resident individuals by resident third persons upon submission to the RPS provider of the justifying documents (confirming the purpose of the payment /transfer and containing data on the its amount), except for the donation in accordance with item i) paragraph (2) Article 21 of the Law no.62-XVI of 21.03.2008 in the amount not exceeding 1000 euros (or their equivalent).
(Item 72 modified by the Decision of the NBM no.201 of 17.10.2013)

73. Within foreign exchange operations, the cash in foreign currency and travellers’ cheques in foreign currency may be deposited to the accounts of resident individuals by non-resident third persons, as follows:
1) in the event of depositing by a person of funds in an amount not exceeding 1000 euros (or their equivalent) - without submission to the RPS provider of the justifying documents;
2) in the event of depositing by a person of funds in an amount exceeding 1000 euros (or their equivalent) – upon submission to the RPS provider of the following justifying documents;
a) if the funds are aimed for family expenses – the documents confirming the kinship /marriage relation or the established tutorship /guardianship;
b) in cases other than those specified in item a) of this paragraph – the documents confirming the purpose of the payment /transfer and containing data on the amount of the payment /transfer.
(Item 73 modified by the Decision of the NBM no.201 of 17.10.2013)

Section 3. Peculiarities of depositing funds within foreign exchange operations
by third persons to the accounts of non-resident individuals

74. Within foreign exchange operations, the cash in national currency, in foreign currency and travellers’ cheques in foreign currency may be deposited to the accounts of non-resident individuals by resident third persons, as follows:
1) in the event that a person deposits funds for the purpose of family expenses:
a) in an amount not exceeding 1000 euros (or their equivalent) - without submission to the RPS provider of documents confirming the kinship /marriage relation or the established tutorship /guardianship;
b) in an amount of over 1000 euros (or their equivalent), but not exceeding 10000 euros (or their equivalent) – upon submission to the RPS provider of the documents confirming the kinship /marriage relation or the established tutorship /guardianship;
c) in an amount exceeding 10000 euros (or their equivalent) – upon submission to the RPS provider of the documents confirming the kinship /marriage relation or the established tutorship /guardianship and the documents confirming the necessity of making payment /transfer by the individual in favour of whom the deposit is made and containing data on the amount of the payment /transfer;
2) in the event that a person deposits funds within the foreign exchange operation, other than that specified in paragraph 1) of this item, which is not subject to authorization according to the Law no.62-XVI of 21.03.2008:
a) in the amount not exceeding 1000 euros (or their equivalent) - without submission to the RPS provider of the justifying documents;
b) in the amount exceeding 1000 euros (or their equivalent) – upon submission to the RPS provider of the justifying documents confirming the purpose of the payment /transfer and containing data on the amount of the payment/transfer;
3) in the event of depositing funds within the foreign exchange operation that is subject to authorization according to the Law no.62-XVI of 21.03.2008 – upon submission to the RPS provider of the justifying documents containing data on the amount of the payment /transfer and of the authorization issued by the National Bank of Moldova.
(Item 74 modified by the Decision of the NBM no.201 of 17.10.2013)

75. Within foreign exchange operations, the cash in foreign currency and travellers’ cheques in foreign currency may be deposited to the accounts of non-resident individuals by non-resident third persons, as follows:
1) in the event that a person deposits funds in an amount not exceeding 1000 euros (or their equivalent) - without submission to the RPS provider of the justifying documents;
2) in the event that a person deposits funds in an amount exceeding 1000 euros (or their equivalent) – upon submission to the RPS provider of the following justifying documents:
a) if case of funds aimed for family expenses – the documents confirming the kinship /marriage relation or the established tutorship /guardianship;
b) in cases other than those referred to in item a) of this paragraph – the justifying documents confirming the purpose of the payment /transfer and containing data on the amount of the payment /transfer.
(Item 75 modified by the Decision of the NBM no.201 of 17.10.2013)

76. Within foreign exchange operations, the cash in national currency may be deposited to the accounts of non-resident individuals by non-resident third persons without submission to the RPS provider of the justifying documents.
(Item 76 modified by the Decision of the NBM no.201 of 17.10.2013)

Chapter VI
Requirements for the documents to be submitted to the
RPS provider in case of payments /transfers within
individuals’ foreign exchange operations

(Name of chapter VI modified by the Decision of the NBM no.201 of 17.10.2013)

Section 1. General provisions

 

77. The documents that remain at the RPS provider shall be kept at this provider according to the internal rules established by the respective RPS provider in accordance with the legislation of the Republic of Moldova.
(Item 77 modified by the Decision of the NBM no.201 of 17.10.2013)

78. This chapter establishes the minimum requirements for the documents to be submitted to the RPS provider in case of making payments /transfers according to the provisions of this title, and namely requirements for:
a) the identity documents;
b) the justifying documents.
(Item 78 modified by the Decision of the NBM no.201 of 17.10.2013)

79. In order to apply the provisions of this chapter, the RPS provider may also establish other requirements that do not contravene the legislation of the Republic of Moldova.
(Item 79 modified by the Decision of the NBM no.201 of 17.10.2013)

80. The provisions of this chapter shall not be applied in the event that the legislative acts of the Republic of Moldova or normative acts of the National Bank of Moldova establish other rules of submission and keeping of the justifying documents at the RPS provider.
(Item 80 modified by the Decision of the NBM no.201 of 17.10.2013)

(Item 81 abrogated by the Decision of the NBM no.201 of 17.10.2013)

82. The persons submitting the respective documents to the RPS provider, in the event of performing by them of foreign exchange operations, shall bear the responsibility for the authenticity of the documents provided for by this chapter.
(Item 82 modified by the Decision of the NBM no.201 of 17.10.2013)

83. The documents regulated by this chapter shall be submitted to the RPS provider at the time of performing the respective foreign exchange operation, unless otherwise is provided for by this Regulation.
(Item 83 modified by the Decision of the NBM no.201 of 17.10.2013)

Section 2. Procedure of submitting the identity document

84. The identity document shall be submitted to the RPS provider in original and in photocopy. Following the authentication of the photocopy by the responsible person of the RPS provider, the original document shall be returned to the individual, while the authenticated photocopy shall remain at the RPS provider.
(Item 84 modified by the Decision of the NBM no.201 of 17.10.2013)

Section 3. Procedure of submitting the justifying documents

85. For the purposes of this title, the justifying documents, referred to in sub-item c) item 27 and sub-item c) item 64 of this Regulation, shall be the documents specified in Chapters II, III and V of this title that have to be submitted to the RPS provider to justify the making the payments /transfers, and namely:
a) documents confirming the necessity of making payments /transfers by individuals (contract, invoice etc.) and containing data on the amounts of the payments /transfers;
b) documents confirming the existence of circumstances in which the individuals can make the respective payments /transfers (for example, documents confirming the kinship relation, temporary stay abroad);
c) other documents that have to be submitted to the RPS provider to justify the making of payments /transfers and which contain, where appropriate, data on the amounts of the payments /transfers.
(Item 85 modified by the Decision of the NBM no.201 of 17.10.2013)

86. In the event that several payments /transfers are made based on the justifying documents, these documents may be submitted only when making the first payment /transfer.

87. In the event there are documents that modify /complete the justifying documents (the amending documents), such documents shall also be submitted to the RPS provider.
(Item 87 modified by the Decision of the NBM no.201 of 17.10.2013)

88. At the request of the RPS provider, the justifying documents in foreign languages shall be submitted with their translation into the official language, certified by a notary.
(Item 88 modified by the Decision of the NBM no.201 of 17.10.2013)

89. The document referred to in sub-item c) item 39 of this Regulation shall be submitted and kept at the RPS provider in original.
(Item 89 modified by the Decision of the NBM no.201 of 17.10.2013)

90. The documents confirming the kinship /marriage relation or the established tutorship /guardianship and documents referred to in sub-item b) item 39 of this Regulation shall be submitted to the RPS provider in original and in photocopies. Following the authentication of the photocopies by the responsible person of the RPS provider, the original documents shall be returned to the individuals, while the authenticated photocopies shall remain at the RPS provider.
(Item 90 modified by the Decision of the NBM no.201 of 17.10.2013)

91. In the event that the documents confirming family /marriage relationship /guardianship /curatorship are issued by the competent authorities of other countries and cannot be submitted in original, it shall be permitted to submit these documents by sending them via e-mail, being scanned, or via fax. In this case, the client shall write the following wording on the photocopy of the received documents: "I declare on my own responsibility that the document received by fax /e-mail is in compliance with the original.".

92. If otherwise is not stipulated in other normative acts of the National Bank of Moldova, the justifying documents, including the amending documents, other than those mentioned in items 89 - 91 of this Regulation, shall be submitted in photocopies.

93. The correspondence of the photocopies of justifying documents, including of the amending documents, with their originals shall be authenticated by the individuals who make the payments /transfers on the basis of these documents. For the authentication, the following wording shall be written on the photocopy "I declare on my own responsibility that the photocopy is identical with the original." and be certified by the signature of the respective individual. The photocopies of these documents shall remain at the RPS provider.
(Item 93 modified by the Decision of the NBM no.201 of 17.10.2013)

 

TITLE III
FOREIGN EXCHANGE OPERATIONS OF LEGAL ENTITIES

Chapter I
Non-cash payments /transfers within
foreign exchange operations of legal entities

Section 1. General provisions

94. The provisions of this chapter shall be applied in case of making by legal entities through the accounts in foreign and national currency opened with the RPS providers of the non-cash payments /transfers:
a) in foreign /national currency in favour of non-residents abroad and on the territory of the Republic of Moldova;
b) in foreign /national currency abroad in favour of residents;
c) in foreign currency in favour of residents on the territory of the Republic of Moldova;
d) in national currency made by non-resident legal entities in favour of residents on the territory of the Republic of the Moldova.
(Item 94 modified by the Decision of the NBM no.201 of 17.10.2013)

95. In the event of non-cash payment /transfer within the foreign exchange operation, the resident legal entity (other than the RPS provider) or non-resident legal entity shall submit to the RPS provider the following documents, without limitation thereto:
a) the written request for making the payment /transfer;
b) the justifying documents, except for the cases expressly specified in this Regulation or in other normative acts of the National Bank of Moldova in the field of foreign exchange regulation;
c) the respective certificate /notification /authorization – in the event that under the Law no.62-XVI of 21.03.2008, the foreign exchange operation (within which the payment /transfer is made) is subject to notification to the National Bank of Moldova /authorization of the National Bank of Moldova.
(Item 95 modified by the Decision of the NBM no.201 of 17.10.2013)

(Item 96 and 97abrogated by the Decision of the NBM no.201 of 17.10.2013)

98. The written request for making the payment /transfer:
1) shall contain the following data, without limitation thereto:
a) data on the beneficiary of the payment /transfer (the name, full name etc.);
b) purpose of the payment /transfer that shall be indicated in detail;
c) name and, if any, number and date of the justifying document – in the event that the payment /transfer is made based on the justifying document;
d) name, number and date of the respective document – in the event that the payment /transfer is made upon submission to the RPS provider of the certificate /notification /authorization, provided for by the normative acts of the National Bank of Moldova in the field of foreign exchange regulation.
2) shall be authenticated by:
a) the signatures of the account holder`s persons having the right to sign and the stamp of the account holder (if he has a stamp). The financial institution from abroad shall authenticate such document according to the banking practice;
b) the signature of the holder of the card issued by the RPS provider on the basis of the legal entity` account – in case of performing a foreign exchange operation by the use of the card.
(Item 98 modified by the Decision of the NBM no.201 of 17.10.2013)

99. The non-cash payments /transfers within the RPS providers' own foreign exchange operations shall be made (through its accounts opened with other banks abroad or other RPS providers) based on the documents specified in item 95 of this Regulation (without limitation thereto), by applying the following provisions:
a) the written request, based on which the payment /transfer is made by the RPS provider through its account opened with another RPS provider, shall be submitted and kept in this RPS provider, must contain the data specified in paragraph 1) item 98 of this Regulation (without limitation thereto);
b) the written request, based on which the payment /transfer is made by the RPS provider through its account opened abroad, shall be kept at the RPS provider, must contain the data specified in sub-items a), b) and c) paragraph 1) item 98 of this Regulation (without limitation thereto);
c) the RPS provider that makes the payment /transfer must have the documents according to the provisions of sub-items b) and c) item 95 of this Regulation. In the event that RPS provider performs the operation through its account opened with another RPS provider, these documents shall be submitted, with specified exceptions, to the RPS provider with which the account is opened.
Licensed bank shall authenticate the written request according to the banking practices.
(Item 99 modified by the Decision of the NBM no.201 of 17.10.2013)

100. The amount of payment /transfer within the foreign exchange operation shall not exceed the amount specified in the justifying documents, in the event that the justifying document by its nature has to contain data on the amount of the payment /transfer.

101. The requirements for the documents referred to in sub-item b) item 95 of this Regulation shall be provided for in Chapter V of this title.

102. In the event that according to the provisions of this title the non-cash payment /transfer within the foreign exchange operation is made by a legal entity upon submission to the RPS provider of the justifying documents, the RPS provider, through which the legal entity makes the payment /transfer, shall be obliged to verify:
a) the correspondence of the data indicated in the written request for making the payment /transfer with the data indicated in the justifying documents (taking into account the amending documents, if any);
b) if the amount indicated in the written request for making the payment /transfer does not exceed the amount specified in the justifying documents (taking into account the amending documents, if any) – in the event that the justifying document by its nature has to contain data on the amount of the payment /transfer;
c) the existence and correctness of the records indicated in item 172 and, where appropriate, in item 176 of this Regulation on the photocopies of the respective documents.
(Item 102 modified by the Decision of the NBM no.201 of 17.10.2013)

(Item 103 abrogated by the Decision of the NBM no.201 of 17.10.2013)

104. The requirements for the documents referred to in sub-item c) item 95 of this Regulation and the respective actions of the RPS providers shall be established by the normative acts of the National Bank of Moldova, which regulate the foreign exchange operations that are subject to notification to the National Bank of Moldova /authorization of the National Bank of Moldova.

(Item 104 modified by the Decision of the NBM no.201 of 17.10.2013)

105. In the event of making the payment /transfer in favour of the resident individual who is abroad, the person who makes the respective payment /transfer shall bear the responsibility for the fact that the payment /transfer is made in favour of the given resident individual.

Section 2. Peculiarities of making non-cash payments /transfers
within foreign exchange operations by resident legal entities

106. The resident legal entities may make non-cash payments /transfers within foreign exchange operations without submission to the RPS providers of the justifying documents in the event that:
a) the payments /transfers are made abroad with the purpose stipulated in item a) paragraph (1) Article 23 of the Law no.62-XVI of 21.03.2008;
b) the transfers are made to their accounts opened with financial institutions from abroad on the basis of the authorizations issued by the National Bank of Moldova, which provide for the possibility of making transfers to these accounts from accounts opened with the RPS providers and do not contain the requirement to submit the justifying documents to the RPS provider;
c) the transfers are made to other its accounts opened with the same or another RPS provider;
d) the single transfers are made in the form of donations within foreign exchange operations in an amount not exceeding 1000 euro (or equivalent) for each transfer;
e) the transfers are made from the account of the licensed bank to its account opened with another licensed bank or with the financial institution from abroad;
e1) the transfers are made from the account of the non-bank RPS provider to its account opened with another RPS provider, as well as in the case referred to in item b);
f) the payment of state tax established by the legislation of the foreign state is made abroad.
(Item 106 modified by the Decision of the NBM no.201 of 17.10.2013)

107. The transfers in the form of donations within foreign exchange operations specified in item b) paragraph (2) Article 16 and item e) paragraph (1) Article 23 of the Law no.62-XVI of 21.03.2008, within the limits of the amounts provided for by these articles, shall be made by resident legal entities as single transfers.

Section 3. Peculiarities of making non-cash payments transfers
within foreign exchange operations

by non-resident legal entities

108. The non-resident legal entities may make abroad non-cash payments /transfers within foreign exchange operations without submitting to RPS providers of justifying documents in the event that:
a) the transfers are made on the name of the same account holder;
b) the payments /transfers are made by the representative offices of international organizations, by diplomatic missions, consular offices and other official representative offices of foreign states accredited in the Republic of Moldova, as well as by international organizations;
c) the payments /transfers are made by non-resident legal entities which are institutions implementing technical assistance projects for the Republic of Moldova, for purposes related to implementation of the these projects, only in relation to individuals;
d) the payments /transfers are made by financial institutions from abroad;
d1) the transfers /payments are made by non-resident payment service providers as payment service providers /electronic money issuers;
e) the single transfers are made in the form of donations within foreign exchange operations in an amount not exceeding 1000 euro (or equivalent) for each transfer – in the event that they are made by non-resident legal entities, other than those specified in sub-item b) of this item;
f) the payment of state tax established by the legislation of the foreign state is made abroad.
(Item 108 modified by the Decision of the NBM no.201 of 17.10.2013)

109. The non-resident legal entities may make on the territory of the Republic of Moldova non-cash payments /transfers within foreign exchange operations without submitting the justifying documents to the RPS providers in the event that:
a) the payments /transfers are made in national currency;
b) the transfers in foreign currency are made on the name of the same account holder;
c) the payments /transfers in foreign currency are made by financial institutions from abroad;
c1) the transfers /payments in foreign currency are made by non-resident payment service providers as payment service providers /electronic money issuers;
d) the single transfers in foreign currency are made in the form of donations within foreign exchange operations in an amount not exceeding 1000 euro (or equivalent) for each transfer;
e) the payment in foreign currency of the state tax established by the legislation of the Republic of Moldova is made.
(Item 109 modified by the Decision of the NBM no.201 of 17.10.2013)

Chapter II
Procedure for performing exchange operations by legal entities

Section 1. General provisions

110. The exchange operations among the licensed banks shall be performed in accordance with the Agreement on Interbank Foreign Exchange Market in the Republic of Moldova.
(Item 110 modified by the Decision of the NBM no.201 of 17.10.2013)

(Item 111 abrogated by the Decision of the NBM no.201 of 17.10.2013)

Section 2. Exchange operations in cash in national and foreign
currency and with traveller's cheques in foreign currency

112. The exchange operations in cash in national and foreign currency, as well as with traveller’s cheques in foreign currency shall be performed by the licensed banks and other foreign exchange entities.

113. The foreign exchange entities shall perform the operations specified in item 112 of this Regulation with the individuals in accordance with the Regulation on Foreign Exchange Entities, approved by the Decision of the Council of Administration of the National Bank of Moldova no.53 of March 5, 2009 (the Official Monitor of the Republic of Moldova, 2009, no.62 - 64, Article 269).

114. The licensed banks may also perform the operations specified in item 112 of this Regulation with other licensed banks while carrying out the financial activities on the basis of the license for carrying out the financial activities issued by the National Bank of Moldova.ListenRead phonetically

Section 3. Other exchange operations of legal entities
(Name of Section 3 in wording of the Decision of the NBM no.201 of 17.10.2013)

115. The exchange operations (other than those referred to in items 110, 112-114) of resident legal entities (including of non-bank RPS providers) and of non-resident legal entities shall be performed with licensed banks in the accordance with the provisions of the Law no.62-XVI of 21.03.2008, as well as with the internal regulations of the licensed banks, that have to ensure the transparency of conditions for performing respective operations, including taking into consideration the requirements of the Law no.114 of 18.05.2012 related to the foreign exchange rate.
(Item 115 in wording of the Decision of the NBM no.201 of 17.10.2013)
(Item 115 in wording of the Decision of the NBM no.223 of 04.11.2010)

1151. The exchange operations of resident and non-resident legal entities shall be performed with non-bank RPS providers in the accordance with the provisions of the internal regulations of the non-bank RPS providers, that have to ensure the transparency of conditions for performing respective operations, including taking into consideration the requirements of the Law no.114 of 18.05.2012 related to the foreign exchange rate. Non-bank RPS providers shall perform exchange operations with their clients closely related to payment services /services of issuing electronic money rendered to these clients.
(Item 1151 introduced by the Decision of the NBM no.201 of 17.10.2013)

(Items 116 and 117 abrogated by the Decision of the NBM no.223 of 04.11.2010)

(Section 4 abrogated by the Decision of the NBM no.201 of 17.10.2013)

(Section 4 modified by the Decision of the NBM no.223 of 04.11.2010)

(Section 5 abrogated by the Decision of the NBM no.201 of 17.10.2013)

(Section 5 modified by the Decision of the NBM no.223 of 04.11.2010)

 

Chapter III
Foreign exchange operations in the accounts of legal entities

with the use of cash in foreign and national currency
and of traveller's cheques in foreign currency

Section 1. General provisions

121. Within the foreign exchange operations performed with the use of cash in foreign currency /national currency and of traveller's cheques in foreign currency, the payments /transfers may be received by the legal entity as follows:
a) by depositing funds directly to the account of the respective legal entity opened with the RPS provider; or
b) by collecting funds in the cash office of the legal entity with further depositing to the account of the respective legal entity opened with the RPS provider.
(Item 121 modified by the Decision of the NBM no.201 of 17.10.2013)

122. Within the foreign exchange operations performed with the use of cash in foreign currency /national currency and of traveller's cheques in foreign currency, the payments /transfers may be made by the legal entity as follows:
a) by providing funds directly from the account of the respective legal entity opened with the RPS provider; or
b) by receiving funds in the cash office of the legal entity from its account opened with the RPS provider with its subsequent use according to the destination.
(Item 122 modified by the Decision of the NBM no.201 of 17.10.2013)

123. For the purposes of this chapter, the provision of funds directly from the account of the legal entity opened with the RPS provider shall also include the given operations performed by using the payment instruments (defined so by the Law no.62-XVI of 21.03.2008 and the Law no.18.05.2012).
(Item 123 in wording of the Decision of the NBM no.201 of 17.10.2013)

124. The provisions of items 121 and 122 of this Regulation shall not refer to the funds of foreign exchange offices received /provided while carrying out the currency exchange activity in cash with the individuals.

125. The provisions of this chapter shall be applied in case of depositing to /providing from the legal entities' accounts opened with the RPS providers of the following funds within foreign exchange operations:
1) cash in foreign currency, traveller's cheques in foreign currency to /from the respective accounts of resident and non-resident legal entities;
2) cash in national currency to /from the respective accounts of non-resident legal entities;
3) cash in national currency to /from the respective accounts of resident legal entities in the following cases:
a) when performing foreign exchange operations that are subject to notification to the National Bank of Moldova /authorization of the National Bank of Moldova according to the Law no.62-XVI of 21.03.2008;
b) when performing a foreign exchange operation, the licensed bank issues the permission for the export of funds in national currency from the Republic of Moldova in the cases provided for by the Law no.62 - XVI of 21.03.2008.
(Item 125 modified by the Decision of the NBM no.201 of 17.10.2013)

126. Depositing funds to the accounts of the resident and non-resident legal entities within foreign exchange operations shall be made upon submission to the RPS provider of the following documents, without limitation thereto:
a) the identity document – in the event that depositing is made by the individual in his own name and at his own account;
b) the written request for funds deposit;
c) the justifying documents, except for the cases expressly specified in this Regulation or in other normative acts of the National Bank of Moldova in the field of foreign exchange regulation;
d) the respective authorizations – in the event that in accordance with the Law no.62 - XVI of 21.03.2008, the foreign exchange operations (within which the funds are deposited) are subject to the authorization of the National Bank of Moldova.
(Item 126 modified by the Decision of the NBM no.201 of 17.10.2013)

1261. In addition to the documents referred to in item 126, the document on basis of which the RPS provider may conclude that funds to be deposited into account of the legal entity are originating from the legal entity /individual that have /had pecuniary obligations to the account holder shall be submitted to the RPS provider upon its request. This document may be requested by RPS provider in the event when:
a) depositing of the funds into account of the legal entity is performed by the representative of the legal entity /individual that have /had pecuniary obligations to the account holder;
b) funds are deposited through modality specified in sub-item b) item 121.
The provisions of this item shall not be applied in the event when depositing of funds is made into the accounts of non-residents that are diplomatic missions, consular offices, other official representative offices of foreign states, representative offices of international organizations accredited in the Republic of Moldova and international organizations.
(Item 1261 introduced by the Decision of the NBM no.201 of 17.10.2013)

127. The written request for funds deposit:
1) shall contain the following data, without limitation thereto:
a) the description of the foreign exchange operation within which the funds is /was received (for example, “the foreign currency received from the sale of goods in the duty-free shop”), that would enable the RPS provider to determine the correspondence of the operation related to depositing of funds with the provisions of the foreign exchange legislation;
(Sub-item b) abrogated by the Decision of the NBM no.201 of 17.10.2013)
c) the name and, if any, number and date of the justifying document – in the event that the depositing is performed on the basis of the justifying document;
d) the name, number and date of the respective authorization – in the event that the depositing is performed upon submission to the RPS provider of the authorization issued by the National Bank of Moldova in the cases provided for by the Law no.62 - XVI of 21.03.2008;
2) shall be authenticated by:
a) signatures of the account holder`s persons having the right to sign and the stamp of the account holder (if he has a stamp) – in the event when the depositing is performed on behalf of the account holder;
b) the signature of the person that deposits the funds – in the event when the depositing is performed on behalf of the person another than the account holder.
(Item 127 modified by the Decision of the NBM no.201 of 17.10.2013)

128. The provision of funds within the foreign exchange operation from the accounts of the resident and non-resident legal entities shall be performed upon submission to the RPS provider of the following documents, without limitation thereto:
a) the written request for funds provision;
b) the justifying documents, except for the cases expressly specified in this Regulation or in other normative acts of the National Bank of Moldova in the field of foreign exchange regulation;
c) the respective authorizations – in the event that in accordance with the Law no.62 - XVI of 21.03.2008, the foreign exchange operations (within which the funds are provided) are subject to the authorization of the National Bank of Moldova.
(Item 128 modified by the Decision of the NBM no.201 of 17.10.2013)

(Items 129, 130 and 131 abrogated by the Decision of the NBM no.201 of 17.10.2013)

132. The written request for funds provision:
1) shall contain the following data, without limitation thereto:
a) the description (the purpose) of the foreign exchange operation within which the funds are provided (for example, “foreign currency aimed for payment of expenses related to trips abroad”), that would enable the RPS provider to determine the correspondence of the operation related to withdrawal of funds with the provisions of the foreign exchange legislation;
(Sub-item b) abrogated by the Decision of the NBM no.201 of 17.10.2013)
c) the name and, if any, number and date of the justifying document – in the event that the provision of funds is performed on the basis of the justifying document;
d) the name, number and date of the respective authorization – in the event that the provision of funds is performed upon submission to the RPS provider of the authorization issued by the National Bank of Moldova in the cases provided for by the Law no.62 - XVI of 21.03.2008;
2) shall be authenticated by:
a) signatures of the account holder`s persons having the right to sign and the stamp of the account holder (if he has a stamp);
b) the signature of the holder of the card issued by the RPS provider on the basis of the account of the legal entity – in the event when the foreign exchange operation is performed with the use of the card.
(Item 132 modified by the Decision of the NBM no.201 of 17.10.2013)

133. The amount that is deposited /provided within the foreign exchange operation shall not exceed the amount specified in the justifying documents, in the event that the justifying document by its nature has to contain data on the amount of the payment /transfer.

134. The requirements for the documents specified in sub-items a), c) item 126, in item 1261 and in sub-item b) item 128 of this Regulation shall be provided for in Chapter V of this title.
(Item 134 modified by the Decision of the NBM no.201 of 17.10.2013)

135. In the event that according to the provisions of this chapter, the deposit /provision of funds within the foreign exchange operation is performed upon submission to the RPS provider of the justifying documents, the RPS provider, through which the respective operation is performed, shall be obliged to verify:
a) the correspondence of the data indicated in the written request for funds deposit /provision with the data indicated in the justifying documents (taking into account the amending documents, if any);
b) if the amount indicated in the written request for funds deposit /provision does not exceed the amount specified in the justifying documents (taking into account the amending documents, if any) – in the event that the justifying document by its nature has to contain data on the amount of the payment /transfer;
c) the existence and correctness of the records indicated in item 172 and, where appropriate, in item 176 of this Regulation on the photocopies of the respective documents, in the event that other normative acts of the National Bank of Moldova in the field of foreign exchange regulation do not provide for other form of submission of documents.
(Item 135 modified by the Decision of the NBM no.201 of 17.10.2013)
(Item 136 abrogated by the Decision of the NBM no.201 of 17.10.2013)

137. The requirements for the documents referred to in sub-item d) item 126 and sub-item c) item 128 of this Regulation and the respective actions of the RPS providers shall be established in the normative acts of the National Bank of Moldova which regulate the foreign exchange operations that are subject to notification of the National Bank of Moldova /authorization of the National Bank of Moldova.
(Item 137 modified by the Decision of the NBM no.201 of 17.10.2013)

Section 2. Peculiarities of depositing to /receiving from the accounts
of resident legal entities of cash in foreign and national currency

and of traveller's cheques in foreign currency

138. Without submission of the justifying documents, the following funds may be deposited to the accounts of resident legal entities opened with the RPS providers:
a) totally or partially unused funds that were previously received from the accounts of the respective legal entities, by indicating in the written request for funds deposit the date and the purpose of receiving earlier the respective funds from the account (without limitation to such information);
b) funds aimed for paying the state tax or other fees /taxes established by the legislation of the Republic of Moldova that are collected in the national public budget;
c) funds received from individuals in cases permitted by the legislation of the Republic of Moldova while carrying out the activity that according to the legislation does not require the holding of a document issued by the competent authorities of the Republic of Moldova, certifying the legal entity`s right to carry out certain activities;
d) funds seized /distrained /confiscated by authorities empowered under the legislation of the Republic of Moldova;
e) funds in the form of donation in an amount not exceeding 1000 euro (or their equivalent) from the individual for the charitable and sponsorship purposes.
(Item 138 modified by the Decision of the NBM no.201 of 17.10.2013)

139. The funds may be provided from the accounts of the resident legal entities opened with the RPS providers without submission of the justifying documents, in case of the return according to the legislation of the Republic of Moldova by the competent authorities of the seized /distrained /confiscated funds.
(Item 139 modified by the Decision of the NBM no.201 of 17.10.2013)

Section 2. Peculiarities of depositing to /receiving from the accounts
of non-resident legal entities of cash in foreign and national currency
and of traveller's cheques in foreign currency

140. Without the justifying documents, the funds may be deposited to the accounts of non-resident legal entities opened with the RPS providers, as follows:
a) in the event of depositing to the accounts of diplomatic missions, consular offices and other official representative offices of foreign states, representative offices of international organizations accredited in the Republic of Moldova and international organizations within their activity on the territory of the Republic of Moldova;
b) in the event of depositing to the accounts of non-resident legal entities, which are implementing institutions of technical assistance projects for the Republic of Moldova, for purposes related to the implementation of these projects, only in relation to individuals;
c) totally or partially unused funds that were previously received from the accounts of the respective legal entities, except for those referred to in sub-item a) of this item, by indicating in the written request for funds deposit the date and the purpose of receiving earlier the respective funds from the account (without limitation to such information);
d) in the event of depositing the proceeds from the sale of goods /rendering services to passengers by the non-resident legal entities, which carry out their activity in transport means engaged in international traffic, as well as in the event of depositing the proceeds in national currency from the sale of the transportation documents by the representative offices of non-resident transport companies;
e) in the event of depositing to the accounts of non-resident legal entities, other than those indicated in sub-item a) of this item, of funds in the form of donation in an amount not exceeding 1000 euro (or their equivalent) from the individual for the charitable and sponsorship purposes.
(Item 140 modified by the Decision of the NBM no.201 of 17.10.2013)

141. In the event that the funds are deposited to the account of the non-resident legal entity within the foreign exchange operation related to the granting by the resident individual of the donation that is subject to the authorization according to the Law no.62 - XVI of 21.03.2008, the authorization of the National Bank of Moldova shall be submitted to the RPS provider, regardless of whether the funds are deposited directly to the account of the non-resident legal entity or in the cash office of this legal entity.
(Item 141 modified by the Decision of the NBM no.201 of 17.10.2013)

142. Without the submission of the justifying documents, from the accounts of non-resident legal entities opened with the RPS providers, the funds may be provided, as follows:
1) from the accounts of diplomatic missions, consular offices and other official representative offices of foreign states, representative offices of international organizations accredited in the Republic of Moldova and international organizations – with purpose of provision of the funds to the individuals within activity of these institutions on the territory of the Republic of Moldova;
2) from the accounts of non-resident legal entities, which are implementing institutions of technical assistance projects for the Republic of Moldova, in order to use the fund for purposes related to the implementation of these projects, only in relation to individuals;
3) from the accounts of representative offices of the non-resident legal entities, other than those indicated in paragraph 1) of this item:
a) in national currency - for the purpose of payment of the current expenses related to their activities in the Republic of Moldova;
b) in foreign currency - for expenses related to business trips, provided for by the legislation of the Republic of Moldova;
4) for payment of state tax and other fees /taxes established by the legislation of the Republic of Moldova;
5) in the case referred in item j) paragraph (3) Article 26 of the Law no.62 - XVI of 21.03.2008.

(Item 142 modified by the Decision of the NBM no.201 of 17.10.2013)

Chapter IV
Peculiarities of banks` foreign exchange operations

with the use of cash in foreign and national currency
and traveller's cheques in foreign currency

143. The provisions of this chapter shall regulate the particularities of performing on the territory of the Republic of Moldova by licensed banks within their own foreign exchange operations of depositing (receiving) /providing the following funds:
1) cash in foreign currency, traveller's cheques in foreign currency;
2) cash in national currency when:
a) performing a foreign exchange operation that is subject to the authorization of the National Bank of Moldova in accordance with the Law no.62-XVI of 21.03.2008;
b) performing a foreign exchange operation, the licensed bank issues the permission for the export of funds in national currency from the Republic of Moldova in the cases provided for by the Law no.62 - XVI of 21.03.2008.

144. The operations referred to in item 143 of this Regulation shall be performed by the licensed bank;
a) with other licensed banks and with non-resident banks, on the basis of the license for carrying out financial activities;
b) with individuals /legal entities.

145. The licensed banks shall perform with other banks the operations referred to in item 143 of this Regulation:
a) through their accounts opened with other licensed banks;
b) through their cash offices without having accounts in other licensed banks.

146. Within the foreign exchange operations referred to in item 145 of this Regulation, the deposit /provision of funds shall be performed in accordance with the banking practice. Licensed banks, which are parts of the operations, shall dispose the justifying documents.

147. The operations referred to in item 143 of this Regulation between the licensed banks and non-resident banks through the non-resident bank accounts opened with the licensed banks with which the operations are performed, shall include:
a) the operations of receiving funds by the licensed bank from the non-resident bank following the import of the respective funds by the non-resident bank in the Republic of Moldova;
b) the operations of providing funds by the licensed bank to the non-resident bank for the purpose of its export from the Republic of Moldova.

148. Receiving of funds from non-resident banks /provision of funds to non-resident banks shall be performed in accordance with the provisions of the normative act of the National Bank of Moldova, which regulate the export /import of funds by banks, and with the banking practices.

149. The licensed banks operations referred to in sub-item b) item 144 of this Regulation shall be performed in accordance with the provisions of the Chapter III of this title applicable for resident legal entities. In the event that in accordance with Chapter III of this title the foreign exchange operations have to be performed on the basis of justifying documents, the licensed banks shall dispose such documents.

 

Chapter IV1
Peculiarities of the non-bank RPS providers` foreign

exchange operations with the use of cash

1491. The non-bank RPS providers as payment service providers /issuers of electronic money shall, under the Law no.114 of 18.05.2012, perform foreign exchange operations in cash, as follows:
a) with licensed banks through accounts of given providers opened with these banks – in order to deposit to /receive from their accounts of cash obtained /needed in connection with the provision of payment services /issuing the electronic money;
b) with their clients that are individuals /legal entities, to the extent permitted by the legislation for provision to these persons of payment services /services related to the issuance of the electronic money, as well as in accordance with the provisions of this Regulation.

1492. The non-bank RPS providers` operations referred to in sub-item a) item 1491 shall be performed with the licensed bank based on written request according to the requirements specified in items 127 and 132 without submitting the justifying documents.

1493. In case of performing by non-bank RPS providers of foreign exchange operations that are not related to their activity as payment service providers / issuers of electronic money, such operations shall be performed in accordance with the provisions of this regulations applicable to the resident legal entities.

(Chapter IV1 introduced by the Decision of the NBM no.201 of 17.10.2013)

 

Chapter V
Requirements for documents to be submitted to the
RPS provider in case of performing foreign exchange operations
through legal entities' accounts

(Name of chapter V modified by the Decision of the NBM no.201 of 17.10.2013)

Section 1. General provisions

150. The submitted documents that remain at the RPS provider shall be kept at this RPS provider according to the internal rules established by the respective provider in accordance with the legislation of the Republic of Moldova.
(Item 150 modified by the Decision of the NBM no.201 of 17.10.2013)

151. This chapter shall establish the minimum requirements for the documents that have to be submitted to the RPS provider in case of performing foreign exchange operations through the accounts of legal entities according to the provisions of this title, and namely requirements for:
a) the document referred to in item 1261 of this Regulation;
b) the identity documents;
c) the justifying documents.
(Item 151 modified by the Decision of the NBM no.201 of 17.10.2013)

152. In order to apply the provisions of this chapter, the RPS provider may also establish other requirements that do not contravene the legislation of the Republic of Moldova.
(Item 152 modified by the Decision of the NBM no.201 of 17.10.2013)

153. The provisions of this chapter shall not be applied in the event that the legislative acts of the Republic of Moldova or the normative acts of the National Bank of Moldova establish other rules of submission and keeping of the justifying documents at the RPS provider.
(Item 153 modified by the Decision of the NBM no.201 of 17.10.2013)

(Item 154 abrogated by the Decision of the NBM no.201 of 17.10.2013)

155. The persons submitting the respective documents to the RPS provider in case of performing by them of foreign exchange operations shall bear the responsibility for the authenticity of documents provided for by this chapter.
(Item 155 modified by the Decision of the NBM no.201 of 17.10.2013)

156. At the request of the RPS provider, the documents in foreign languages shall be submitted with their translations into the official language, certified by a notary.
(Item 156 modified by the Decision of the NBM no.201 of 17.10.2013)

157. The document referred to in item 1261 shall be submitted to the RPS provider as in accordance with the requirements established by the RPS provider.
(Item 157 in wording of the Decision of the NBM no.201 of 17.10.2013)

158. The identity document of the individual shall be submitted to the RPS provider in original and in photocopy. Following the authentication of the photocopy by the responsible person of the RPS provider, the original document shall be returned to the individual, while the authenticated photocopy shall remain at the RPS provider.
(Item 158 modified by the Decision of the NBM no.201 of 17.10.2013)

159. For the purpose of this title, the justifying documents referred to in sub-item b) item 95 of this Regulation shall be the documents that justify the making /confirm the necessity of making by legal entities of payments /transfers (for example, contract, invoice, the order for business trip abroad, the information on business trip expenses, the breakdown of expenditures for the maintenance of the resident legal entity’s representative office located abroad) and contain, where appropriate, data on the amounts of the payments /transfers.
(Item 159 modified by the Decision of the NBM no.223 of 04.11.2010)

160. For the purposes of this title, the justifying documents, referred to in sub-item c) item 126, sub-item b) item 128 and in Chapter IV of this Regulation, shall be the documents necessary to justify the receiving /making the payments /transfers in cash and with the use of traveller's cheques, and namely:
1) in case of receiving the payments /transfers by the legal entities according to the provisions of Chapters III and IV of this title:
a) the documents that justify the making /confirm the necessity of making in favour of legal entities of payments /transfers, which according to the provisions of the legislative acts may be made in cash (for example, contract, invoice, court decision) and contain, where appropriate, data on the amounts of the payments /transfers;
b) the documents issued by the competent authorities of the Republic of Moldova confirming that the resident legal entities are entitle to carry out certain activities within which the foreign exchange legislation of the Republic of Moldova permits to receive cash in foreign currency and traveller's cheques in foreign currency (for example, the license for carrying out the duty-free shop activity, certificate for rendering the ground handling services issued to the resident legal entity, that carries out its activity in the field of civil aviation and provides ground handling services) – in the event that the legislation of the Republic of Moldova establishes the need to have such a document for carrying out the certain activity;
c) the documents specified in other normative acts of the National Bank of Moldova that regulate the certain foreign exchange operations;
2) in the event of making the payments /transfers by legal entities according to the provisions of Chapters III and IV of this title:
a) the documents that justify the making /confirm the necessity of making the payments /transfers which according to the provisions of the legislative acts may be made in cash (for example, the order for business trip abroad, the information on travel expenses) and, where appropriate, contain data on the amounts of the payments /transfers;
b) the documents issued by the competent authorities of the Republic of Moldova confirming that the resident legal entities are entitle to carry out certain activities within which the foreign exchange legislation of the Republic of Moldova permits to make the payments /transfers in cash in foreign currency and with the use of traveller's cheques in foreign currency (for example, the authorization to operate international air line, issued by the public authority in the field of civil aviation) – in the event that the legislation of the Republic of Moldova establishes the need to have such a document for carrying out the certain activities;
c) the documents specified in other normative acts of the National Bank of Moldova that regulate the certain foreign exchange operations.

161. The responsibility for the fact that the documents referred to in sub-item b) paragraph 1) and sub-item b) paragraph 2) item 160 of this Regulation submitted to the RPS provider are valid on the date of submission shall be born by the respective legal entity.
(Item 161 modified by the Decision of the NBM no.201 of 17.10.2013)

Section 2. Procedure of submission of the justifying documents
in case of performing foreign exchange operations
through the resident legal entities’ accounts

162. The justifying documents shall be submitted to the RPS provider at the time of performing the respective foreign exchange operation, unless otherwise is provided for by this Regulation.
(Item 162 modified by the Decision of the NBM no.201 of 17.10.2013)

(Items 163, 164, 165 and 166 abrogated by the Decision of the NBM no.201 of 17.10.2013)

167. The justifying documents specified in sub-item c) paragraph 1) and item c) paragraph 2) item 160 of this Regulation shall be submitted to the RPS provider in accordance with the rules established by the normative acts of the National Bank of Moldova that regulate the respective foreign exchange operations.
(Item 167 modified by the Decision of the NBM no.201 of 17.10.2013)

168. In the event that several payments /transfers are made based on the justifying documents, these documents may be submitted only when making the first payment /transfer.

(Item 169 abrogated by the Decision of the NBM no.223 of 04.11.2010)

170. In the event there are documents that modify /complete the justifying documents (the amending documents), such documents shall also be submitted to the RPS provider.
(Item 170 modified by the Decision of the NBM no.201 of 17.10.2013)

171. The justifying documents, except for those mentioned in 167 of this Regulation, shall be submitted to the RPS provider in photocopies, which shall remain at this RPS provider.
(Item 171 modified by the Decision of the NBM no.201 of 17.10.2013)

172. The correspondence of the photocopies of justifying documents, including of the amending documents, with their originals shall be authenticated by the resident legal entity. For the authentication, the following wording shall be written on the photocopy "I declare on my own responsibility that the photocopy is identical with the original.".
The wording shall be authenticated by the signature of one of the account holder`s persons having the right to sign. In the event that according to the legislation of the Republic of Moldova, the resident has a stamp, this signature shall be certified by the stamp.
(Item 172 modified by the Decision of the NBM no.201 of 17.10.2013)

173. In the event that the respective provisions of item 172 of this Regulation can not be fulfilled, the justifying documents shall be submitted to the RPS provider in original or notary-authenticated copies and in photocopies. Originals /notary-authenticated copies of these documents shall be returned to the respective person, while their photocopies authenticated by the responsible person of the RPS provider shall remain at the RPS provider. In case of own foreign exchange operations performed by the licensed banks through their accounts opened with other licensed banks, the justifying documents may also be submitted in other forms accepted in accordance with the banking practice.
(Item 173 modified by the Decision of the NBM no.201 of 17.10.2013)

Section 3. Procedure of submission of the justifying documents
in case of performing foreign exchange operations
through the non-resident legal entities’ accounts

174. The justifying documents shall be submitted to the RPS provider at the time of performing the respective foreign exchange operation, unless otherwise is provided for by this Regulation.
(Item 174 modified by the Decision of the NBM no.201 of 17.10.2013)

175. In case of performing foreign exchange operations through the accounts of non-resident legal entities, the provisions of items 167, 168, 170 and 171 of this Regulation shall be applied to the justifying documents.

176. The correspondence of the photocopies of justifying documents, including of the amending documents, with their originals shall be authenticated by the non-resident legal entity. For the authentication, the following wording shall be written on the photocopy "I declare on my own responsibility that the photocopy is identical with the original.".
The wording shall be made in the official language or in any worldwide used language, accepted by the RPS provider; the wording shall be authenticated by the signature of one of the account holder`s persons having the right to sign and certified by the stamp of the respective legal entity, in the event that it has a stamp.
(Item 176 modified by the Decision of the NBM no.201 of 17.10.2013)

177. In the event that the respective provisions of item 176 of this Regulation can not be fulfilled, the justifying documents shall be submitted to the RPS provider in original or notary-authenticated copies and in photocopies. Originals /notary-authenticated copies of these documents shall be returned to the respective person, while their photocopies authenticated by the responsible person of the RPS provider shall remain at the RPS provider.
(Item 177 modified by the Decision of the NBM no.201 of 17.10.2013)

 

Chapter VI
Conditions relating to operations performed in cash in foreign currency
and with the use of travellers` cheques in foreign currency within foreign

exchange operations of some legal entities

178. The provisions of this chapter shall be applied to the legal entities (other than the foreign exchange entities) that have the right to receive foreign currency from individuals as payment on the territory of the Republic of Moldova for sold goods and /or rendered services (for example, the legal entities-holders of duty free shops) and shall regulate the aspects related to receipt of the mentioned foreign currency.

179. The foreign currencies that legal entities can receive in their cash offices shall be coordinated with the RPS providers, where the cash in foreign currency and travelers` cheques in foreign currency will be deposited.
(Item 179 modified by the Decision of the NBM no.201 of 17.10.2013)

180. Upon receipt of the foreign currency, the cashier of the legal entity shall verify the authenticity of banknotes in foreign currency and traveller's cheques in foreign currency.

181. The cash in foreign currency and travellers` cheques in foreign currency received in the cash office of the legal entity shall be deposited to the RPS provider, taking into account the provisions of paragraph (6) Article 25 of the Law no. 62 - XVI of 21.03.2008.
(Item 181 modified by the Decision of the NBM no.201 of 17.10.2013)

182. The foreign currency in cash and the foreign currency related to travelers` cheques received in the cash office of the legal entity shall be entered to the foreign currency account of the respective legal entity opened with the RPS provider.
(Item 182 modified by the Decision of the NBM no.201 of 17.10.2013)

183. In the event that according to the rules of the RPS provider, the foreign currency related to traveller's cheques in foreign currency may be entered to the account of the legal entity only after the receipt by the RPS provider of the cover funds of the respective cheques, the amount of these cheques shall be entered to the account of the respective legal entity upon receipt of cover funds in foreign currency.
(Item 183 modified by the Decision of the NBM no.201 of 17.10.2013)

184. In the event that the legal entity receives in its cash office the foreign currency, other than the currency of pecuniary obligation (price), the legal entity shall be obliged to inform the customers about the exchange rates applied for the recalculation, approved by the order of the administrator of the legal entity or of a person authorized by him; in the order at least the following shall be indicated:
a) the number and date of issue of the order;
b) the name of the resident legal entity and its IDNO;
c) the date (period) for which the exchange rates shall be applied;
d) the name and code (numeric or alphabetic) of the foreign currency and exchange rates of these foreign currencies.

185. The information on exchange rates referred to in item 184 of this Regulation shall be displayed on the cashier’s desk or in other place visible to all customers.

(Attachment to the Regulation abrogated by the Decision of the NBM no.223 of 04.11.2010)

Attachment no.2
to the Decision of the Council of Administration
of the National Bank of Moldova
no.8 of January 28, 2010

LIST
of normative acts of the National Bank of Moldova to be abrogated

1. The Regulation on Foreign Exchange Regulation on the Territory of the Republic of Moldova, approved by the Decision of the Council of Administration of the National Bank of Moldova of January 13, 1994, Minute no.2 (republished in the Official Monitor of the Republic of Moldova, 2003, no.56-58, Art.75), with further amendments and completions;

2. The Decision of the Council of Administration of the National Bank of Moldova no.241 of September 2, 1998 „Regarding the Decision of the Government of the of the Republic of Moldova no.890 of 21.08.98 on the Mechanism of Accounting and Control of Paying the Debts for Electricity and Natural Gas” (Official Monitor of the Republic of Moldova, 1998, no.87-89, Art.183), with further amendments and completions;

3. The Decision of the Council of Administration of the National Bank of Moldova no.212 of July 13, 2000 “On the approval of the Instruction on the Procedure for Issuing the Authorizations for Performing Certain Operations in Foreign Currency by the Economic Agents Acting in Civil Aviation Field” (Official Monitor of the Republic of Moldova, 2000, no.127-129, Art.358), with further amendments and completions;

4. The Decision of the Council of Administration of the National Bank of Moldova no.185 of July 23, 2003 “On the Mechanism for the Purchase of Foreign Currency by Resident Legal Entities” (Official Monitor of the Republic of Moldova, 2003, no.163-166, Art.221), with further amendments and completions;

5. The Decision of the Council of Administration of the National Bank of Moldova no.202 of August 13, 2003 “On the Opening Bank Accounts within the Foreign Technical Assistance Projects in the Republic of Moldova” (Official Monitor of the Republic of Moldova, 2003, no.182-185, Art.248), with further amendments and completions;

6. The Decision of the Council of Administration of the National Bank of Moldova no.285 of September 22, 2005 “On the Approval of the Instruction on Confirmative Documents in Case of Performing Foreign Currency Operations by Legal Entities” (Official Monitor of the Republic of Moldova, 2005, no.129-131, Art.434), with further amendments and completions;

7. The Decision of the Council of Administration of the National Bank of Moldova no.184 of July 13, 2006 “On the Approval of the Instruction on the Transfer of Funds from the Republic of Moldova by Some Categories of Individuals” (Official Monitor of the Republic of Moldova, 2006, no.116-119, Art.426), with further amendments and completions.