The Ministry of Finance has prepared a package of legislative amendments aimed at fully liberalizing foreign exchange transactions following Moldova's accession to the European Union
The ministry has submitted the relevant draft law for public consultation until April 10. It aims to complete the liberalization of capital movements in accordance with the Association Agreement with the EU and the National Accession Program for 2025–2029. The proposed amendments to 15 laws (including the Law on Currency Regulation, the Tax Code, the Law on the Capital Market, and others) will enter into force upon Moldova's accession to the EU. The draft envisages the abolition of the permit system for foreign exchange transactions. Residents and non-residents will be able to conduct foreign exchange transactions without restrictions, as well as open accounts with foreign banks, make transfers, and move capital. Furthermore, the requirement to repatriate foreign currency earnings to the country is proposed to be abolished. The National Bank's obligation to provide the State Tax Service with information on individuals who, in accordance with currency legislation, have received permission to open accounts abroad, as well as reports on accounts opened abroad, submitted in accordance with the law by their owners, etc., will be eliminated. Restrictions on the import and export of foreign currency will also be lifted, although the obligation to declare them for amounts over 10,000 euros will remain in accordance with customs legislation. It is proposed to supplement the law on insurance and reinsurance activities with regulations aimed at ensuring more effective IT risk management: they must have an adequate IT infrastructure, develop and implement an information technology and information security strategy, manage risks, and ensure business continuity. These requirements may come into force one month after the bill's publication. The bill's authors note that the lifting of currency restrictions does not negate the requirements of legislation to combat money laundering and the financing of terrorism. The explanatory note to the draft states that in 2024, at the request of the National Bank of Moldova, a technical assistance mission by IMF experts was conducted to determine the potential for liberalizing foreign exchange transactions without negatively impacting the country's financial stability. In accordance with IMF recommendations, Moldova should pursue a policy of gradual liberalization of foreign exchange transactions prior to joining the EU, and amendments were already introduced in 2025 to allow for the liberalization of some foreign exchange transactions. In early March 2026, a new draft of amendments was presented, which envisages partial liberalization; it has not yet been approved and is currently in the consultation phase. The new package of amendments aims to fully liberalize foreign exchange transactions after Moldova's accession to the EU, in order to prepare the regulatory framework for this process. This package will integrate Moldova's financial system into the European space, simplify cross-border transactions, and increase the country's investment attractiveness. As previously reported by InfoMarket, as part of the partial liberalization of foreign exchange transactions, it is proposed to increase the limit on foreign exchange transactions conducted by residents without NBM permission from 10,000 to 100,000 euros (or the equivalent), and to 250,000 euros from January 1, 2028. It is also proposed to abolish authorization for loans/credits provided by investment companies, non-bank credit institutions, and insurance and reinsurance companies to non-residents, and eliminate the requirement to notify the NBM when residents receive loans/credits from non-residents (currently, notification is required for amounts over 10,000 euros, and payments are possible after NBM confirmation of registration). The rights of resident individuals emigrating abroad may be expanded: they will be able to open accounts with non-resident banks without NBM permission and transfer their assets upon establishing their place of residence abroad or during their stay abroad, etc. //25.03.2026 – InfoMarket.
