Ukraine Customs Security for Processing Counterfeit Goods Reduced

The amendments to the 2007 decree addressing the expenses and reimbursement of expenses related to the activities of the Ukrainian customs that contribute to the protection of intellectual property rights, issued by the State Customs Service of Ukraine, entered into force on July 21, 2011.

According to the new provisions, the security deposited by the right holders to cover all customs services needed to process allegedly counterfeit goods, including the storage fees, has been reduced from EUR 5000 (USD 7100) to EUR 1000 (USD 1400).

The security may be deposited in Ukrainian or foreign currency and is to be returned to the right holder in the currency in which it was deposited.

For more information, please contact Yuriy Karlash at our Ukraine office.

Source: Ukrainian parliament website