Ceiling for foreign exchange operations without NBM authorization to be increased to 100,000 euros

The ceiling for carrying out certain foreign exchange operations without the authorization of the National Bank of Moldova (NBM) will be increased from 10,000 euros to 100,000 euros. At the same time, it will rise to 250,000 euros starting from 1 January 2028. The draft law providing for this measure was approved today by the Government and represents an important step in simplifying procedures for citizens, especially those from the diaspora who want to transfer money home.

The draft aims to amend the Law on foreign exchange regulation and seeks the partial liberalization of capital foreign exchange operations by aligning the national framework with European standards.

Minister of Finance Victoria Belous said that increasing the ceiling will simplify procedures for operations carried out by citizens in foreign currency.

“The draft law aims at simplifying foreign exchange procedures. It proposes increasing the ceiling from which NBM authorization must be requested from 10 thousand euros to 100 thousand euros, and from 1 January 2028 to 250 thousand euros, for operations carried out by residents in foreign currency. At the same time, it includes the provision granting foreign exchange offices the right to provide payment services, in order to increase the financial inclusion of the population,” explained the Minister of Finance.

The draft also provides for facilitating the opening of accounts abroad by resident individuals who emigrate, extending the use of foreign currency in certain commercial units, and strengthening the regulatory and supervisory framework of the foreign exchange market.

Prime Minister Vasile Tofan welcomed the approval of the initiative, emphasizing that it will reduce the procedures citizens, including those from the diaspora, have to go through.

“A measure that greatly simplifies the life of the diaspora. We keep receiving complaints about how difficult it is to come and deposit money in the bank, questions about money laundering. So, we are raising the threshold for certain notifications and this will certainly simplify things when, for example, someone from the diaspora wants to bring money home and structure it as a loan, for example, to their own company registered in Moldova. Until now the ceiling was 10 thousand euros, now it will be 100 thousand euros. It is certainly a step towards simplification and I can only welcome it,” declared Tofan at the Government meeting.

According to the explanatory note to the draft, the liberalization of these operations will allow the expansion of investment opportunities for residents’ financial resources, in particular by giving them access to a wider range of financial instruments and the possibility to adapt decision-making mechanisms and risk management systems to the new economic realities. It will also contribute to more efficient management of foreign exchange risks by resident economic agents.

The draft is to be submitted to Parliament for examination and approval. It will enter into force upon the expiry of one month from the date of its publication in the Official Gazette of the Republic of Moldova, except for the provisions concerning the elimination of the notification regime, which will enter into force on 1 October 2027.