The bank requires confirmation of the origin of the funds: what to do?

In the most diverse areas of life, situations periodically occur when it is necessary to confirm the origin of funds. And this is not always easy to do. Someone worked at a job where the boss obliged to accept a part of the funds in an envelope, someone collected large savings, someone did not register the FOP on time, and someone sold real estate for cash. There can be many options, and all of them boil down to the fact that there is a need for high-quality legal support for issues related to the confirmation of funds. This category of client requests belongs to the competence of the Prikhodko&Partners law firm team. Our specialists know how to help their clients legally confirm the origin of cash.

When there may be a need to confirm the origin of funds?

When a person is simply using their cash for their own needs, they may not need to prove its origin. However, for the vast majority of legal large transactions, such confirmation is required. These are cases when it is necessary to withdraw cash abroad or deposit it in a bank account there. It is also necessary when buying real estate or a car. In order to be an investor, you also need to confirm the origin of the resources needed for investment.

To carry out any of the listed actions, the funds must go through a Ukrainian bank. And each of the banking institutions has its own financial monitoring. Specialists dealing with this matter will not accept funds without confirmation of their origin.

What documents are needed to confirm the origin of funds?

To confirm the origin of funds, you need to provide documents that indicate their sources. For example, it can be a declaration of property status and income. A declaration of property, income, expenses and obligations of a financial nature is also often used. Annual, quarterly and other financial statements that the entrepreneur submits to the tax office are also suitable. Financial statements of the acquiring legal entity are sometimes used, which are made public in accordance with current legislation.

In addition to all of the above, the legislation provides for the possibility of providing other documents that confirm the origin of the funds. Therefore, only some common examples were listed above. We know how to act in accordance with each specific client situation.

Why it is profitable to cooperate with us?

Lawyers of the law office "Prikhodko&Partners" regularly work with requests related to confirmation of funds. We well understand the realities of the modern labor market and other areas where a person becomes a hostage to the situation, and then faces a problem, not having the opportunity to conclude at least some big deal or dispose of cash in another way, where this cash will become visible in the legal field. Therefore, we know well how to act in such a situation.

When offering its services to clients, the law firm "Prikhodko&Partners" focuses exclusively on the result. We do not leave things halfway. Therefore, by contacting us, you can be sure that you will be able to legally confirm the origin of your funds without unnecessary complications and enduring the stress of bureaucratic procedures.

We regularly monitor legislative updates, keeping our finger on the pulse of all relevant changes. And also - we carefully analyze all our experience, relying on it every time and providing high-quality help to our clients. Therefore, cooperation with the "Prikhodko&Partners" law office will be pleasant, profitable and, most importantly, effective for you.

You may also be interested in our article about "Export of cash abroad and formulation of the declaration".