After the change in Russian laws, it became possible for citizens to open deposits in banks of other states. Business account in foreign bank an entrepreneur will need if he is going to do business with foreign partners. In addition, foreign banks often offer deposit interest that is significantly different from what Russian financial institutions provide. Therefore, Russians are more willing to trust them with their savings. Anyone can open a deposit, but this procedure is not so simple. Let's figure out what nuances distinguish opening accounts in foreign banks, what is necessary for this and how reliable this method of depositing funds is.
Russian citizens do not need permission today Central Bank in order to have accounts abroad. regulation law foreign exchange transactions allows residents of the Russian Federation to open currency deposits. The only condition for this is notification of the tax authority. The period during which the citizen is obliged to provide information is also determined. It is one month. Violation of this rule will entail a fine of 5 thousand rubles.
As part of the fight against corruption, a circle of persons was determined who are prohibited from having foreign accounts. These include high-ranking officials, the Prosecutor General and his deputy, as well as members of the board of directors of the Central Bank of the Russian Federation. Violation of the norms is considered by a specially convened commission, which decides on punishment for a civil servant who has violated the law.
Most citizens of the Russian Federation mistakenly believe that we have representative offices of banks in other countries. Confusion over the question of whether it is possible to open an account in a foreign bank in Russia is created by a large number of foreign subsidiaries. However, in reality, international financial organizations do not operate on the territory of our country. Although the subsidiaries of foreign banks are based on foreign capital, they, like domestic ones, are subordinate to the Central Bank, that is, they work in accordance with Russian legislation. Therefore, deposits in them are not insured against risks.
Foreign banks approach the choice of clients quite strictly, so it is often difficult to open an account on your own. You need to have sufficient knowledge of English to negotiate with foreign managers. In addition, it is required to collect a package of documents, which is individual for each bank. Therefore, it is most reasonable to turn to the services of intermediary firms that provide assistance in resolving such issues. Experts will tell you how to open an account in a foreign bank for a Russian citizen, they will help you choose more profitable terms. However, you need to be careful, there are many scammers in this area who only need a deposit number and a sample signature of its owner.
An entrepreneur who wants to conduct business abroad or organize international e-commerce must have an account opened with a bank located in an offshore jurisdiction. These financial institutions provide a well-functioning service that allows you to perform various financial transactions.
A businessman must be prepared for the fact that the bank will be interested in the purpose of opening an account, the type of activity that the company conducts, as well as its financial turnover. Attention will also be paid to business partners, if any. The minimum set of documentation consists of:
It should be taken into account that many financial institutions refuse to work with little-known companies or Forex market players.
A citizen has the right to use a currency account in a bank of a foreign state only for personal purposes, that is, to save and accumulate finances or make investments. It is unacceptable to use it for business purposes. Duration of registration from 7 days to six months. To open an account, you need to personally visit the country in which the selected bank is located. After providing the necessary papers and filling out the forms, it remains to wait for a negative or positive decision.
For those who are interested in how to open an account in a foreign bank to an individual, without leaving Russia, the second option is suitable - contacting intermediaries. The services of such firms will cost from 200 to 12 thousand dollars. The depositor will only need to certify with the consul or in the subsidiary branch of the selected bank a sample of his personal signature. It is possible that the depositor will have to communicate with the manager before opening an account via telephone network or personally meet him in the Russian capital.
To the list required documents banks have different requirements. The minimum set, as a rule, includes certificates:
This is accompanied by copies of the passports of the depositor and his wife signed by a notary, as well as receipts confirming the absence of debt on housing and communal services.
Managers of subsidiary Western banks will be able to contribute to the opening of a foreign account. The connections between them will noticeably speed up the process. Free assistance can be obtained using the Private banking segment. Similar financial service provides, for example, Promsvyazbank, Sberbank or Russian Standard.
You can replenish the deposit both in cash and by cashless payment through Russian banks. When personally depositing currency into foreign accounts, you will need to confirm the legality of its acquisition. To make a transfer, Russian financial organizations require a notice of opening an account in a foreign bank by an individual with a mark on tax registration.
Control foreign deposits carried out in several ways. Here is their list:
The security system protects the depositor's funds through specially designed codes and ciphers, dedicated communication channels.
The first step should be to choose a country. Many Russians who open a deposit want to deal with banks Western Europe. Unfortunately, the financial institutions of these countries are not interested in servicing non-residents. Baltic banks would be a more suitable option. Swiss credit organizations are suitable for saving and capital growth. But the number of transactions with such accounts is limited, in addition, the balance of the deposit must be quite large. In Southeast Asia, it is more profitable to open an account for business; ordinary deposits are reluctantly accepted here.
After you decide on the country, you need to choose the right bank. Factors such as:
The next step is to submit an application and the necessary documents. Some banks insist on the personal presence of a potential depositor. When making a decision, it will not be superfluous to inquire about the deposit insurance system. In all countries, the schemes of work of such companies are similar, but the amount of payments sometimes varies significantly.
The next step is to decide on the type of account. If this is a current deposit that involves constant replenishment or withdrawal, the interest on it will be low. Those wishing to increase their savings need to rely on the fact that it will be impossible to withdraw funds until the end of the contract. For those who want to participate in exchange trading, sale and purchase of shares of Western companies, an investment account is suitable.
Foreign banks pay great attention to security and the secrecy of the deposit is not an empty phrase for them. That is why many reputable businessmen prefer to keep their savings outside of Russia. In addition, such preservation of funds gives their owner a certain status. The big advantage of opening an account in a European bank is not only reliability and security, but also the possibility of obtaining citizenship of the country where the savings are stored.
The disadvantages include the need to pay intermediary services when opening a deposit from Russia. An additional obstacle is the need to collect additional information. In addition, when entrusting money to a foreign bank, a Russian is obliged to notify the state authorities about this.
mere formality
Reporting is quite simple, says Zakharov: a form of two sheets, on the first - the applicant's data, on the second - information on accounts in a foreign bank. If there is more than one invoice, then the first sheet and several copies of the second sheets, equal to the number of invoices, must be submitted to the Federal Tax Service, he says.
After the tax office receives your report, they may have additional questions. The press service of the Federal Tax Service confirms this: in order to implement currency control» She has the right to request additional documents.
In this case, the taxpayer has a week to provide necessary papers- for example, an extract on the movement of money according to bank account, says the lawyer of the legal service CorpLaw.Pro Yulia Mikhalchuk. “It is better to get these documents in advance at the bank,” advises Zakharov. According to him, most likely, extracts on the movement may be needed. Money and letters on the opening and availability of accounts in such banks.
Mikhalchuk from CorpLaw.Pro also notes that it is not necessary to go to the country where the bank is located - you can get bank statements e-mail. The lawyer, however, fears that the Federal Tax Service will be able to demand documents with seals. “So far, no one knows how to get around this rule, and perhaps clarifications from the Ministry of Finance or amendments to laws will be needed,” she says.
Immediately after submitting the report, you may have several problems.
tax problems
First of all, you have to pay taxes. Personal income tax at a rate of 13% is subject to any income from bank accounts abroad: this is both coupon income, and rent from the rental of foreign real estate, and sale valuable papers through management company. Also, since the beginning of 2016, interest on deposits in a foreign bank has been taxed on income, recalls Zakharov from Paragon Advice Group.
The 2015 declaration campaign ended on April 30th. Mikhalchuk says that it was necessary to report on income received, including on foreign accounts, in the form 3-NDFL. Non-payment or incomplete payment of taxes under Article 122 of the Tax Code means a fine of 20 to 40% of their amount.
If the tax on income, for example, received from the rental of real estate, is paid in the same country where the foreign account is opened, and exceeds 13%, then nothing needs to be paid in Russia, notes Klenov from UFG Wealth Management.
But so that the Federal Tax Service does not have questions, it is better to give it tax return another country and payment documents if you manage your property yourself. If the trustee is engaged in this, then you need to get a certificate from him: it is he who in this case is tax agent Klenov says.
Avoid tax claims previous years, according to Zakharov, it is possible with the help of a capital amnesty - before July 1, 2016, to submit a special declaration. “It must indicate the balance of the account abroad and attach a notice of opening an account. This removes the possibility of being sued for tax evasion,” he says.
Problems with currency legislation
Majority Russian citizens are not only tax residents, but also currency residents. This concept appeared in 2012. According to the law on currency regulation, these are all citizens who have a Russian passport, except for those who have been living abroad for “at least a year” on a residence permit, work and study visas.
Maxim Kandyba, a partner at PwC, says that the phrase “at least a year” means: it is worth appearing in Russia for a day, and you are a currency resident. Zakharov, however, believes that the fact of registration at the place of residence or stay is important here. If we are talking about emigration, then the citizen is eventually discharged from his housing in Russia, and it is difficult to track his short visits to his homeland for tax purposes, he says. According to the Russian law on the right to freedom of movement, a citizen is required to register at the place of stay within 90 days.
Currency residents have large restrictions on the use of foreign accounts. They are allowed to transfer funds from other banks (including Russian ones), credit interest on deposits, deposit cash and receive profit from the conversion of funds.
All these norms are listed in the 12th article of the law on currency regulation. In addition, these accounts can be credited with salaries, travel allowances, social benefits - pensions, scholarships, benefits. But it is impossible to receive grants for them, the Ministry of Finance clarified at the end of 2015. This is a violation of currency laws.
In countries that are members of the OECD and FATF, you can additionally credit foreign currency loans and credits, income from renting out housing, coupon income on securities, as well as income from trust management of your funds (if they are managed by a non-resident of Russia) . For example, Bulgaria, Montenegro and Cyprus, which are popular with Russians, are not included in either the FATF or the OECD.
All operations that are not included in this list are prohibited, otherwise you will face a fine, says Dmitry Klenov, partner at UFG Wealth Management. Partner of Paragon Advice Group Alexander Zakharov clarifies that the fine can range from 75 to 100% of the amount of the prohibited operation. The same is stated in Article 12.25 of the Code of Administrative Offences.
In fact, everything looks like this: if your foreign account received a profit of $100 from the sale of securities (this operation is not allowed by currency legislation), the fine can be from $75 to $100. It can be avoided by taking advantage of the amnesty of capital, admits Klenov. It applies to all illegal transactions on foreign accounts on the date of filing a special declaration, says Zakharov. You can apply until July 1, 2016.
Hiding accounts
Reporting to the Federal Tax Service on foreign accounts means a huge number of problems - from obtaining extracts from foreign banks to the possibility of tax and currency claims. “Everything is done so that a person has no desire to use foreign accounts. I believe that most of the citizens will not report,” says one of the consultants on condition of anonymity.
What awaits them in this case? According to currency legislation, if you did not report the account at all and the Federal Tax Service eventually becomes aware of it, you will have to pay a fine of 4,000 to 5,000 rubles. Penalty for late informing - from 1 thousand to 1.5 thousand rubles. The penalty for not having time to provide documents on the movement of funds on the account is approximately the same: 10 days or less - from 300 to 500 rubles, more than a month - from 2.5 to 3 thousand rubles. Repeated violation will cost 20 thousand rubles.
Violation tax legislation costs more. If you didn't report at all tax service about their account abroad and at the same time received income on it for many years, this is already tax evasion, Klenov argues. In this case, the Federal Tax Service may demand additional taxes and issue a fine: from 100 thousand to 300 thousand rubles. depending on the outstanding amount.
International financial consultant FCP (Financial Management) Ltd. Isaac Becker is confident that eventually the bills will become known. “Even if you don’t say anything today, sooner or later the information will appear in the tax service, they will knock on you later not only for a fine,” he says.
On May 12, Russia signed an international agreement on the automatic exchange of financial information, which includes more than 80 countries. “It will start in 2018, and the first reports will most likely go exactly according to the results of this year,” Zakharov believes. However, according to him, for this Russia will still have to conclude an agreement with each of the countries separately - only then the mechanism will start working.
Klenov says that while Russia can request information about currency accounts specific citizens and for earlier years - up to 2002. Therefore, Becker advises those who have accounts abroad not to delay and report them to the tax office in time, using the amnesty.
What awaits the rentier, student, expat and trader when using foreign accounts
Rent from renting overseas housing
It all depends on where the foreign account is opened, which receives income from rented housing. If in the OECD and FATF countries, then you act within the law, Maxim Kandyba says. If in other countries, the forecast is disappointing: you are violating currency laws. At the same time, income from renting out property is in any case subject to personal income tax at a rate of 13%.
Account report
Tax law:
— 13%
tax if the account is opened in "allowed" countries of the OECD and FATF
from 20 to 40% from the sum
Currency legislation:
- fine from 75 to 100%
from 300 rub. up to 3 thousand rubles.; per repeated violation — 20 thousand rubles
Hiding an account
Tax law:
- the requirement to pay taxes at the rate 13%
- fine from 100 thousand to 300 thousand rubles. for tax evasion
Currency legislation:
- fine 4-5 thousand rubles
- fine from 75 to 100% credited funds (if the account is not in "allowed" countries)
Withdrawing money abroad before emigration
This is the simplest case: you yourself transfer money from a Russian account to a foreign one. You simply will not be able not to inform about opening an account abroad: a Russian bank will immediately require a notification with a mark from the tax service about opening an account with a foreign bank. Otherwise, the translation will simply not be released from Russia, says Alexander Zakharov.
Account report
Tax law:
- tax 13%
from interest on account balance
- possible penalty for non-payment of tax from 20 to 40% from its amount
Currency legislation:
— a possible penalty for late reporting of the movement of funds on the account from 300 to 3 thousand rubles.; for repeated violation 20 thousand rubles.
Hiding an account
- Impossible
Foreign University Scholarship
If a person studies abroad, he is not a tax resident of Russia at all, Zakharov believes. However, if the training, as is usually the case, began in September, and the student spent more than half of the year in Russia, then he remains a tax resident. At the same time, a student may become a currency resident if the study lasts less than a year or if he comes to Russia from time to time. The very fact of receiving a scholarship does not violate the currency legislation in any way: this is a fully permitted operation. The only exception is grants: they cannot be credited to foreign accounts. In addition, the scholarship is not taxed at all in Russia (this is stated in Article 217 of the Tax Code).
Account report
Currency legislation:
— Possible penalty for late reporting of account movements from 300 to 3 thousand rubles.; for repeated violation 20 thousand rubles
Hiding an account
Currency legislation:
- fine 4-5 thousand rubles for lack of account statement
Emigration, salary in a foreign company
You do not violate Russian currency legislation, even if you remain a citizen of Russia. It is possible to receive a salary to an account abroad. Most likely, you are not a tax resident of Russia: you become one only by visiting the country for more than 183 days a year. This case assumes that you have deregistered in Russia and no longer live here, so there is no need to talk about currency residency. Short-term visits to Russia do not oblige you to anything: the requirement to register at the place of stay occurs only for trips lasting more than 90 days. In this case, there is no need to report on foreign accounts. However, if you decide to return to Russia for permanent place residence, you will have to report, but from scratch.
Account report
- Not needed
Hiding an account
- no consequences
Securities trading
This is the most difficult case: the number of permitted operations with securities in the currency legislation is limited. In fact, only coupon and interest income on securities, as well as payments on bonds, can be received on a foreign account. But at the same time only in the OECD and FATF countries. Since the beginning of 2016, income from trust management (if the manager is not a resident of Russia) has also been allowed to be credited to accounts abroad, Maxim Kandyba explains.
All these incomes are subject to personal income tax at a rate of 13%. At the same time, the tax is levied on exchange differences: if you bought a bond for $100 and sold it for $100, then it is likely that you still made a profit in rubles due to the growth of the dollar and pay tax, recalls Filinov from PwC. According to Zakharov Advice Group, from January 1, 2018, the permission to transfer income from the sale of the securities themselves to foreign accounts will come into force. But so far this is a serious violation: a fine for it is 75-100% of the amount of income. At the same time, the redemption of bonds is not an operation to sell securities, and therefore is permitted by the currency legislation, Zakharov claims.
Account report
Tax law:
- tax 13%
from income (if the account is opened in "allowed" countries)
- possible penalty for non-payment of tax from 20 to 40% from the sum
Currency legislation:
— a possible penalty for late reporting of the movement of funds on the account from 300 rub. up to 3 thousand rubles; for repeated violation 20 thousand rubles
- fine from 75 to 100%
Hiding an account
Tax law:
- the requirement to pay taxes at the rate 13%
- fine from 100 to 300 thousand rubles. for tax evasion
Currency legislation:
- fine 4-5 thousand rubles for not reporting
- fine from 75 to 100% credited funds (if the account was credited with "unauthorized assets" in "non-permitted" countries)
The scandal surrounding the Panama Archives does not subside in the world - during the leak of information it turned out that politicians and businessmen withdrew money to offshore companies in this country. Among them were acquaintances of Vladimir Putin. that these people withdrew from the country about 2 billion dollars.
Not only influential people can place money abroad: many banks work with non-residents, however, the conditions for them are somewhat different from the rules for citizens of the country. European bank deposit rates are much lower than in Russia, and it is not very convenient to transfer money from country to country. However, the Russians still carry money in Western banks, not trusting Russian credit institutions and fearing the introduction of new barriers to converting rubles into foreign currency. The Village learned about the peculiarities of opening foreign accounts and spoke with one of the depositors.
Not all banks are ready to open regular settlement accounts for foreigners. Many of them require that such a person had a residence permit in the country or other justification for the need for an account, such as the presence of real estate. For example, most Scandinavian banks - Swedbank, DNB - also do not open accounts for Russian citizens without reason. The same is true for Singapore. “And, for example, in the UK, even if you have a student visa, it is almost impossible to open an account,” says Alexey Pospekhov from Futur Capital. “To do this, several start-ups in the field of finance are now being launched, aimed at “migrants”, which include Russian citizens.”
According to Pospekhov, almost the only bank in Latvia that is actively working with Russians in both business and personal finance is Rietumu Banka. “They have their own processing and many other goodies,” he notes. Opening an account remotely there will cost 250 euros - then the card will be delivered to Russia by courier. From it you can transfer money to the card of other European banks, as well as to Russia via SWIFT system. In addition, the bank helps foreigners to obtain a residence permit in Latvia.
The Baltic States is perhaps the only place in Europe where a Russian can open an account for a small amount. In other countries, there is a high entry threshold for opening a deposit by foreigners - from 50 thousand euros. List credit organizations who are willing to work with you expands significantly if you are willing to deposit more than $100,000 into your account. Will be ready to place on the account more than a million from a foreigner without a residence permit famous banks such as Credit Suisse, UBS, Barclays, says Konstantin Ziyatdinov, head of the international projects department of the Prime Advice consulting group. More democratic conditions are offered by Chinese banks - for example, Bank of China or ICBC. To open an account, you need only 20 yuan (about 200 rubles), and the entry threshold does not exceed a thousand yuan, says Oleg Tkach, financial director of MTVC Greenwood.
Permission to open an account is issued by a bank manager abroad. And he can have a lot different reasons for which he may not give it. Almost always it is necessary to prove the fact that the funds were received legally. There are situations when one manager refuses to open an account, and when considering an application later, it is approved by another manager, says Vladimir Knyazhitsky, CEO of Fast Lane Group in Russia and the CIS. Therefore, when opening an account, Russians need to understand that this is a rather long process that requires a personal visit (most likely, more than one). In some cases, you can open an account by proxy, for example, for a lawyer. But it is imperative to clarify the closing conditions: in many banks, you can close a deposit only at the office where the account was opened, or at least in the same country. When choosing a bank, it is also worth clarifying what deposit guarantees the country gives and what minimum deposit balance the bank wants to see (for non-residents, it is usually high).
“Russian residents can freely open accounts and deposits in any foreign banks. The only thing to do is to notify your tax office, otherwise you may be fined up to 5 thousand rubles,” says Konstantin Ziyatdinov. After opening an account, you must annually provide a tax simple cash flow statement (essentially four digits - the balance at the beginning and end of the year and the amount of debits and credits for the year).
Unfortunately, Russian currency legislation severely limits the list of transactions for which funds can be credited to such a foreign account of an individual, Ziyatdinov complains. Failure to comply with these requirements entails draconian fines ranging from 75% to 100% of the amount of the illegal transaction.
“Withdrawing cash in general is a big headache, despite the so-called SEPA,” Pospekhov says. Single European Payment Area - a single European payment area, which includes the euro area, as well as Hungary, Poland, the Czech Republic, Romania, Bulgaria, Sweden and Denmark. If you opened an account in Italy and withdraw money in Sweden, you may be charged a fee in accordance with the rules of the bank.
For an interest-free withdrawal, Haste advises using russian maps and accounts. The same Sberbank has ATMs in many countries of Eastern Europe- No commission is charged for withdrawing money from them. You can also use the services of Citibank. “This is the largest international bank, it is represented in more than a hundred countries of the world and also does not charge fees at ATMs from its cards,” says Oleg Tkach, financial director of MTVC Greenwood. In his opinion, the benefit of deposits doubtful abroad. Depositors here pay not only for opening an account, but also a significant income tax. In Switzerland, for example, it is 35%.
“Interest on deposits is absolutely negligible by Russian standards,” says CEO Fast Lane Group of Companies in Russia and the CIS Vladimir Knyazhitsky. This can be 0.25% per year, and if the account currency is not native to the country, then interest is often not charged. So earn on bank deposit in developed countries practically impossible - rather, it will be small losses in the form of commissions for transfers and account maintenance, sums up Knyazhitsky.
But opening accounts in foreign banks is rarely dictated by the goal of obtaining increased profitability or getting a better level of banking service than in Russia. Rather, it is about confidentiality and independence from the Russian banking system and related “country” risks, says Alexander Lukin, partner at RB Partners. For example, many opened accounts out of fear that the authorities would impose restrictions on cross-border transfers and currency conversions. Besides, foreign accounts provide access to international investment products, and when buying and maintaining real estate, you can avoid conversion losses.
Inna Alekseeva
CEO of PR Partner
Last year, I opened an account as an individual in two Spanish banks, I chose those that allow you to do this without an identification card, that is, roughly speaking, I opened an account as a non-resident.
I was considering giving birth to my second child in Barcelona, so I needed about 10,000 euros in the account. The bank requested information about my wages in Russia - I translated and notarized a 2-personal income tax certificate, as well as a certificate of dividends. Then I transferred a thousand euros to the bank every month for a whole year to show my reliability. If I want to transfer a larger amount, for example, 90 thousand euros for studying at a business school, then I will also need a certificate explaining where the money comes from.
Bank employees immediately warned me that if I suddenly wanted to withdraw the accumulated amount, I would not be able to do this without justifying where and why. In my case, the justification could be an invoice and a certificate from the local hospital-maternity hospital. In the same way, you can pay for a business school, language courses, travel around the country, and more. So far I have not needed an account, but if anything, it works.
Many citizens of our country believe that it is better to keep money in foreign banks. Russian economy is constantly in a state of crisis, sanctions are being introduced and lifted, oil is falling, the dollar and the euro are growing. All these factors do not contribute to an increase in confidence in domestic banks, because people do not leave the feeling that at any moment everything can collapse. At the same time, it is necessary to understand that opening an account abroad is accompanied by certain difficulties. Is this even possible? In this article, we will tell you how to open an account with a foreign bank, what difficulties may arise, and we will also help you choose the most reliable country for your account.
adopted in Russia the federal law No. 79 dated May 7, 2013, limiting the circle of persons entitled to open accounts in foreign banks. So, it is prohibited for those who hold senior positions in government agencies, such as:
Until recently, to register an account in foreign country it was necessary to obtain permission from the Central Bank of the Russian Federation, but now the procedure has been simplified. It is enough to notify the tax service within 30 days after signing the agreement with the bank. After that, every 5 years you need to submit a report on the movement of funds to the tax service.
Also in 2016, Russia became a party to an international agreement on the exchange of data on financial transactions. Starting from 2018, our country will be included in a single information field with other states, which will allow tax authorities directly receive information about the movements of funds of Russians. Therefore, you need to be prepared that it will become more difficult to hide your income.
In order to open an account in another country, as a rule, you need to be a resident of that country. Some banks do not have such a requirement for customers. But then, perhaps, you will encounter other terms of service.
Often, financial organizations require you to provide documentary justification for your desire and ability to open an account in another country. The bank may require you to provide:
Each bank has its own rules for accepting applications for opening an account for citizens of other countries. Therefore, it is necessary to clarify the list of requirements in individually. But it is worth noting the general trends:
Of course, only the most basic points regarding cooperation with foreign banks are listed here.
The main limitation for individuals when opening an account in another country is that the account can only be used for personal purposes. Carry out any transactions related to entrepreneurial activity, forbidden. You can use an open account only in three ways:
With regard to the registration of the application, in different countries this will take from a week to several months. Documents are carefully checked, and the bank's security service must make sure that you are trustworthy and honest. And only if the bank makes sure that there are no reasons for refusal, they will open an account for you.
As a rule, much attention will be paid to the legitimacy of the origin of the investment funds. In addition, in case of a positive decision and approval of the application, in the further use of money from the account (especially when working with large amounts), you may also be required to justify the expenses. For example, request documents for the purchase of real estate or checks from a medical institution.
Most often, you will need to personally fill out an application to open an account, so consider the possibility of visiting a country that provides you banking services. Additionally, it is worth checking with the manager of the selected bank some important details:
There are several possibilities to open your own account abroad. This can be done in the following ways:
Large banks are not always ready to work with a future client blindly, through third-party organizations or trusted persons.
It is necessary to clarify the rules of work of a particular organization, which may include either a mandatory personal visit to the office, or a conversation with a company employee by phone, or a visit to a representative office in our country (usually in Moscow), such as Deutsche Bank, Credit Suisse.
The most serious requirements for clients are made in English and American banks. It is especially difficult for non-residents to open an account, but there are strict rules for those who already have rights in the state, confirmed by a residence permit. You may be required to provide:
Therefore, if you are not a resident of these states, then think carefully about the profitability of opening an account. You will face a number of difficulties and it is far from certain that you will be able to break through all the bureaucratic barriers.
AT modern world the online banking system is well developed, so account management will not cause problems.
Replenishment of the account, in addition to the traditional cash deposit through the cashier, is also possible online. But there are some nuances:
Before opening an account with the institution of your choice, check how it can be closed later. As a rule, you will need to make a personal visit to the branch where you applied and filled out the questionnaire.
The most necessary documents that you will need are as follows:
If there is a branch of a bank in Russia where you plan to open an account abroad, then contact the company's office for advice.
Summing up, we can conclude that in order to open an account in a foreign bank, you need:
The main thing is to be patient and not wait for an instant result, and with a responsible approach, you will be able to open an account in a foreign bank.
Both an organization and an individual can open a bank account abroad. But this is not easy to do. Those wishing to become clients of foreign banks located outside of Russia should prepare for various restrictions, as well as regular reports on the balance and movement of foreign money. Non-compliance with currency laws is punishable by severe fines, which in some cases reach multi-million dollar sums.
Having chosen a bank, you should carefully read its conditions for opening an account by foreigners. It is best to contact the representative of the financial institution by e-mail to clarify the requirements, procedure and list of required documents. Usually on the list binding papers includes:
Russian passport;
international passport;
information about the applicant's activities and income;
information about members of his family;
certificate that he has no criminal record;
When the papers are collected, a citizen who wishes to have an account in a foreign bank will have to visit two offices: a translation office to prepare English-language versions of documents, and a notary office to certify them. Both visits will require significant financial outlays, and they will increase rapidly from there.
Many large foreign banks require the personal arrival of a potential client to the foreign office of the organization, where he submits a package of documents and fills out a questionnaire. That is, if an individual permanently resides in Russia, expenses for a round-trip flight, and, possibly, for a temporary stay in a foreign country are practically inevitable in this case. If there is no visa, money will be needed to obtain it. Whether it is possible to open an account abroad remotely without traveling to another country should be clarified by phone or through the website of a financial institution. Some foreign banks provide such an opportunity.
The citizen then awaits the decision of the foreign organization. As a rule, the waiting period is from 2-3 days to a month. And if the answer is positive, an individual opens a bank account abroad, which does not fall under the jurisdiction of the Russian Federation.
However, the state wants to know about citizens' foreign accounts. Before opening an account abroad, Russian citizens need to study the 12th article of the law "On currency regulation and control" (Law No. 173-FZ of December 10, 2003). In particular, it refers to the need to notify the tax authorities in writing about opening a cash account abroad within 30 days. The notification form is contained in the order of the Federal Tax Service No. MMV-7-14 / [email protected] dated 28.08.2018. In addition, annually (until June 1), a currency resident must inform the tax service about how he disposed of "foreign" money during the past year, and what is their balance (Decree of the Government of the Russian Federation of December 12, 2015 No. 1365).
Organizations are very interested in opening an account outside the Russian Federation. unstable financial market leads to the closure of both small and very large Russian banks. Because of this, the firms that entrusted them with money suffer heavy losses, without any compensation from the state.
To selected financial institution The company presents an impressive package of documents. In particular, foreign banks, in order to open an account, request:
foreign passports of persons who will be authorized to dispose of the funds stored on the account (Russian passports may also be needed);
power of attorney if the account is opened through a representative;
constituent documents of the company: memorandum of association, articles of association, etc.;
certificates - OGRN, TIN;
order on the appointment of the head and chief accountant;
a document certifying that the organization is not subject to bankruptcy proceedings;
license (if it is necessary to conduct certain activities);
completed questionnaire.
The specified list of documentation can be significantly expanded. banking institution. Before opening an account with a foreign bank, legal entity(as, indeed, a citizen) needs to document the legal origin of the money, as well as the reason why he needs to become a client outside of Russia.
The company is also obliged to notify the tax service of opening an account abroad within 30 days after this event and report quarterly on the movement of money (Decree of the Government of the Russian Federation of December 28, 2005 No. 819).
When opening a bank account abroad of the Russian Federation, several circumstances should be taken into account:
Banks that open accounts in foreign banks for foreigners do not do it for free. The "entry" cost for new customers has a wide range: in some banks it is 300 euros, in others it reaches 3,000 dollars. In addition, you will need to pay annually for servicing a foreign account. The cost of this service also varies - from several hundred to several thousand euros / dollars.
If an individual has opened a cash account in another state, foreign bank allow it to be used only for personal, not business purposes.
Not any operations can be carried out through accounts located outside the Russian Federation, but only those that are named in the 12th article of Law No. 173-FZ. Some of them, for example, receiving money from the sale of real estate located in another state to a non-resident, is allowed only if the account is opened with a bank in the territory of a member country of such intergovernmental organizations as the OECD or FATF.
For carrying out illegal operations, an individual or legal entity faces an administrative fine in the amount of 75 to 100 percent of the amount of the transaction (Article 15.25 of the Code of Administrative Offenses of the Russian Federation). This article should be carefully read before opening a bank account abroad. It provides for various sanctions for violation of currency legislation.
