The reasons for opening an account in a foreign bank for Russian citizens can be very diverse.
The desire to maintain privacy, the need to work with foreign partners, receiving higher and guaranteed interest on deposits than in domestic banks, simply transferring money - this is not a complete list of situations when such a measure may be needed.
Moreover, it is required to open an account abroad, since banks with foreign capital operating in Russia are in fact not much different from domestic ones.
The main reason for opening an account abroad by Russian citizens is, of course, the advantages that this option has in comparison with the traditional use of the services of Russian banks. The most significant of them are the following:
In addition, despite the fact that in the vast majority of foreign credit organizations, interest rates are much lower, they are taken much more seriously and serve as an additional plus when considering various business projects.
Therefore, transferring money to a foreign account is an additional plus for the business of an individual.
A rather long list of advantages provided by accounts abroad in a foreign bank explains the presence of a large number of intermediary companies that provide services for opening them and help transfer money from Russia abroad.
Opening an account in a foreign bank abroad is a rather complicated procedure that requires solving a large number of financial and legal issues.
Therefore, it is advisable to seek help from one or more consulting firms. But even in this case, it is necessary to present the main stages of the event.
One of the most important issues, the solution of which largely depends on the purpose of opening an account. It is possible to conditionally group foreign states according to the features of their banking systems, formed by decades of successful work.
stand apart Swiss banks- they are most suitable for those who want to save capital in the most reliable way. Using it is not so profitable, since in most Swiss banks there are restrictions on the number of transactions and the limits on account balances are quite large.
Nevertheless, to transfer money from Russia to a Swiss bank means to ensure their guaranteed safety.
Banks of other Western European countries no less reliable and also very prestigious, but extremely expensive when maintaining settlement and cash services. Interest rates they are usually low. In addition, one should take into account the difficult political situation and the existing sanctions, which can be extended unpredictably at any time.
In recent years, Russians have been actively using the services Baltic banks, especially Latvia and Estonia. Their undoubted advantages are:
But in the case of the Baltic credit institutions, as well as Western European ones, one should take into account a rather risky political factor.
A separate group of states with attractive conditions for granting banking services present Singapore and Hong Kong.
A favorable financial and economic climate has been created there for those wishing to do business in Southeast and East Asia, and service rates are relatively low. The downside is the unfavorable conditions provided for deposits.
It is advisable to use Asian banks for doing business, but not for storing and increasing existing funds.
To open a foreign account, you need a company registered there. This condition is one of the reasons for the large number of offshore companies– a significant part of them was created not for doing business, but for holding assets and managing accounts.
Given the high demand, in almost any state where the opening of accounts for foreign clients is actively practiced, there are many intermediary firms offering services for the creation or acquisition of firms.
The procedure for buying a ready-made company can take only a day. Opening a new one takes a little longer, but is cheaper. It makes sense to move in a similar way, in the case of a serious intention to conduct business abroad.
The presence of a company registered abroad is an additional guarantee of reliability open account, because when resolving possible property disputes, it is in the zone of international law.
The banking system of each state has its own characteristics. But credit institutions, its components, can also differ quite a lot from each other.
Experience of several financial and economic crises recent years showed that even large and seemingly reliable financial structures may be unstable or highly unstable. Therefore, the choice of a particular bank is an important and responsible step in opening a foreign account.
But given the huge amount of available official and verified information about any bank, making a choice is quite simple. Numerous ratings can provide additional assistance, among which it is necessary to pay special attention to the leading agencies Moody's, S&P, Fitch Ratings.
Almost always, when opening a foreign account, a standard list of documents will be required:
Often (but not always) the direct presence of the potential account holder is required.
With a fairly strong similarity of the banking systems of different states, each of them still has its own characteristics. When opening a bank account abroad, they must be taken into account.
For example, the term for opening an account in different countries can be from 1 day to a month. In most cases, this procedure takes about a week.
In most cases, it is proposed to open one of three types of accounts (various combinations are also available):
It is also necessary to take into account the peculiarities of domestic legislation on the need to declare existing foreign accounts.
Opening an account in a foreign bank abroad is not particularly difficult. The main thing in this case is to follow the recommendations of specialists or simply use the services of one of the many consulting firms.
Bank secrecy legislation provides for ways to protect information communicated to the bank by the client. For example, it establishes liability for bank employees for disclosing data known to them, as well as restricting access to this information by third parties.
Despite the fact that banks pay a lot of attention to security issues when working with a client with an account, the possibility of disclosure of information as a result of incompetence or negligence of employees cannot be ruled out. Such cases are quite rare, but no one is immune from them.
In addition, the client must inform the bank employees in a timely manner about the change of phone number, address Email etc. Since a situation may arise when the account holder is not available (does not answer calls and letters), and the bank needs to receive certain documents from him (for example, documents to justify the payment). In this case, bank employees can (for old times' sake) turn to an introducer who at one time helped the client open an account abroad.
Banks' strong statements about confidentiality cannot be trusted at this time, as the laws of most countries for financial institutions prescribed liability "for non-delivery". And along with this, responsibility was established for notifying the client about the “denunciation”. And if the bank suspects the illegality of the client's actions, a certain form is filled out, which is sent to the competent authorities with the bank's information about its suspicions.
Today, due to the widespread use of Internet Banking services, it is possible to receive timely and complete information on the status of an account abroad, as well as on the movement of funds through it, in real time. It is possible at any time convenient for the client not only to find out information about the balance of funds on the account, but also to make any payment without calling the bank or using a fax.
Recently, even the most conservative Swiss banks in this matter have been meeting the needs of their customers: they also provide access to the Internet banking system, however, as a rule, this happens with some restrictions. Such a system works in view only mode: the client can track the state of his account abroad, but at the same time he cannot make any transactions.
There are several methods of remote account management in a foreign bank. For example, the “personally known” method, which is traditional for banks in Switzerland, Luxembourg, Liechtenstein: the banker gets to know the client during his first meeting, and then receives instructions from him by phone. In this case, the client is initially identified by a code word, and later by a voice or other personal characteristics known to the banker.
In addition, many banks offer other identification methods: faxes using special code tables, encryption of instructions, other encoding devices. So, some Swiss banks ask the client to additionally call the bank to confirm the fact of sending a fax message.
At the same time, the majority of clients have recently preferred to manage their bank account abroad using electronic management tools, making international payments on-line using Internet banking. Clients are offered various options for the "Bank-client" system: some banks offer clients to go to their personal page to make payments through the bank's website, other banks offer software that the client purchases from the bank and independently installs on his computer, after which he gets the ability to manage account in a foreign bank using such a program.
Sometimes banks offer customers to additionally use e-mail services: for example, to send copies of contracts confirming a transaction.
Investment operations are investments in various financial instruments (stocks, bonds, derivatives, precious metals, etc.). At a meeting with a client about opening an investment account abroad, a representative of a financial institution will definitely offer to fill out a questionnaire, as well as ask a number of questions that will later help him give recommendations to the client regarding the profitability of certain investment programs and thus determine the choice.
There are two main types of bank account management in a foreign bank, which are divided depending on the investment preferences of the client. In the first case, the client gives his money to the bank for trust management. In this case, a client asset management mandate is signed, and in the future, the bank makes decisions on investing money itself. With such management, the client almost does not perform any operations on his own, and the management fee is charged in the amount of 1 to 5 percent of the investment amount.
In the second case, the client reserves the right to make investment transactions. As for the tariffs for conducting such operations, they are approximately the same in all foreign banks and depend on the amount Money, investment period, currency, type of instrument in which the funds will be invested, as well as the credit rating of the issuer of securities.
The cost of maintaining an investment account abroad is from 0.125 to 0.25 percent per year, and depends on the amount of funds deposited: the larger the amount, the lower the commission. So, in a Swiss bank, when placing five million francs, the commission will be 0.25 percent of the amount, and if the amount of funds placed on the account exceeds twenty million Swiss francs, the commission may already be 0.15 percent. If funds are invested in precious metals or coins, the commission will be 0.20-0.25 percent, regardless of the amount of funds raised.
There are also exceptions: for example, if the funds raised are invested in securities issued by the bank itself or the banking group to which it is a member, servicing an account with a foreign bank may be free.
The total commission for transactions can be from 10 euros or 0.10 percent of the transaction amount and largely depends on the type financial instrument and "territorial" moment. If the transaction is made with traditional investment products (for example, stocks) in one country, the commission for one transaction can be 0.2 - 1.1 percent of the amount of the transaction (again, the larger the amount, the lower the commission). Otherwise, the commission can reach up to 2.2 percent, depending on the amount, type of financial instrument and country.
The amount of the transaction fee can also be affected by the currency in which the account is opened and its profitability. If the currency of the account abroad differs from the main currency of the bank, then the conversion will increase the commission. In addition, the more “profitable” the currency, the higher the commission.
Banks that open settlement accounts often offer to open investment accounts with them. Accordingly, when choosing a bank to open investment account abroad, one should not always focus only on tariff attractiveness; one must first of all pay attention to the performance indicators of the strategy chosen by the bank and the tactics of managing the investment portfolio.
To date, the majority of banks offer their customers the issuance credit cards. In some banks, they can be obtained immediately after opening an account with a foreign bank. To do this, during an interview with a representative of a financial institution, fill out an appropriate application. Other banks have special requirements for cards, so you can get them only some time after opening an account abroad. So, for example, in some Swiss banks, issuing a card is possible only if the client has a certain amount on deposit at all times.
There are different requirements for plastic cards by insurance coverage, amount of funds to be cashed out, rates for issuance or cancellation. In addition, there are payment limits: for example, a client can pay with a card only if the purchase price does not exceed the amount agreed by the bank.
For Russian banking user requirements (as for a non-resident) when issuing a card in a foreign bank may differ greatly from similar requirements adopted in Russia. This is explained by the fact that when issuing a card, the bank must provide for the cost of executing a court decision in the event of an overdraft on the account due to dishonest behavior of the client. It turns out that the client is forced to have a significant insurance coverage blocked on the account.
As a rule, the amount of insurance coverage is tied to a spending limit, which can be significant (usually 10-20 thousand euros). For example, in Austrian banks this ratio can be 1:5.
But the situation is not so bad, because there are different types kart. So, you can issue not Visa or Mastercard, but cards of associated companies: Visa Electron or Cirrus Maestro, on which you can spend all the funds on them. As a rule, such a card is tied to a current account, and funds are not blocked. But such a card also has limitations in use: for example, a daily payment limit, and besides, not all online stores accept payment with such a card.
At present, in the conditions of serious financial competition in Western banks there is a steady tendency to move towards the wishes Russian clients. Banks are demonstrating a reduction in tariffs for servicing cards, facilitating the conditions for issuing them, and also offering non-standard banking products, for example, card design according to an individual sketch.
In some cases, in order to carry out certain transactions or conduct the company's ordinary activities to the client along with the current checking account additional banking products are required: merchant account, brokerage account, irrevocable deposit, escrow account, etc. Such tools can be used both in the bank where the company's account is opened and in another foreign bank. The client must first determine what kind of product he needs, and then find out whether it exists in a similar form in principle, and whether a particular bank is able to provide it.
Some credit organizations enable the client to use some non-standard products immediately upon opening a bank account in a foreign bank.
Each bank, which has non-standard products in its arsenal, offers its own set of these instruments, and also sets separate tariffs for them. At the same time, it should be borne in mind that the cost of providing such services will most likely exceed the cost of a similar product in a bank specializing in providing such an instrument.
There are various conditions under which it is possible to spend funds held in an account abroad as a minimum balance. In this case, often the amount of the minimum balance is immediately included in the initial deposit.
As a rule, it is permissible to use part of the initial deposit, however, there is a certain amount that is “frozen” in a foreign bank account. This practice is traditional for many settlement and savings banks. For example, in one of the Liechtenstein banks, the initial deposit is equal to the minimum balance of CHF 300,000, and in another bank in the same country, the minimum balance is CHF 100,000, while an initial fee must be at least 10,000 Swiss francs.
Some banks do not allow spending funds from the minimum balance under the threat of blocking the account. However, there are also banks that allow the client to spend the minimum balance. But at the same time they impose additional tariffs. Thus, one of the Baltic banks does not charge a fee for account maintenance if the average monthly account balance is more than 100,000 lats, but if this amount decreases, the bank charges the client a monthly amount for maintenance.
In savings banks, as a rule, the minimum balance on the account is equal to the amount of the initial deposit. Depending on the policy of the bank, it is permissible to reach the established amount within a certain period of time, for example, from one to six months, when such an amount is reached, its further reduction becomes impossible.
It is possible to agree with some banks, for example, on a one-time reduction in the balance for a certain period of time (in case a large amount is urgently needed). Such a condition can be agreed in advance with the bank, while indicating that the profit received after some time will again settle on the account.
Banks that open accounts for commercial transactions, as a rule, allow zeroing of accounts. But there are also those that require a certain amount to be on the accounts of companies (the amount depends on the requirements of a particular bank). If the account balance abroad is less than a certain amount, the bank reserves the right to set an additional commission for account maintenance. And in individual cases and notify the client of the possibility of closing the account.
With regard to specific amounts, Swiss banks today set the amount of the minimum balance in the range of 1,000,000 - 2,000,000 Swiss francs; Austrian banks - within 500,000 - 1,000,000 euros.
Banks specializing in settlement and settlement and savings accounts, as a rule, do not set requirements for the presence of an account balance. Thus, the minimum balance requirement is absent in the Baltic banks. On the contrary, Austrian or Liechtenstein banks that open settlement accounts require a minimum balance.
The initial deposit is the amount that is deposited to the account being opened in a foreign bank in order to activate it. Most savings banks set the amount of the initial deposit equal to the amount of the minimum balance on the account. At the same time, some Swiss banks offer customers their own procedure for depositing the indicated amounts.
Settlement banks set significantly lower initial deposit amounts than savings banks - as a rule, they do not exceed the amount of 5,000 dollars or euros. At the same time, some banks allow you to use this amount in the future (for example, a well-known Danish bank), while other banks do not provide such an opportunity.
Setting a number of requirements for a potential client is a common practice of foreign banks. When opening an account abroad, their employees voice individual verbal requirements to customers, which may not be written anywhere in bank documents. This applies, for example, to an agreement on the amount of the initial deposit, the amount of average monthly balances or the allowable annual turnover.
As an example clearing bank, which establishes a requirement for customers for a certain minimum annual turnover, let's take a well-known Austrian bank. The desired amount of annual turnover for its clients will be 30,000,000 euros. Moreover, if the annual turnover is less, the bank will charge an additional commission for servicing the account.
From the very beginning, it should be borne in mind that there is no ideal bank account abroad, just as there is no ideal bank as well as the ideal client. That is why we should rather talk about searching for a bank where you need to open an account that is optimally suited for the client's activities.
When it comes to opening an account with a foreign bank for the company's commercial operations, it is assumed that the client will make frequent transactions on the account abroad. Therefore, first of all, in this case, you need to choose the bank where there are no requirements to limit the number of payments (incoming and outgoing).
Also, when choosing a bank, you should pay attention to where the account opening procedure takes place geographically? Are there any requirements related to making an initial deposit and having a minimum balance on the account? Does it work given bank with various currencies, including, for example, rubles? How do you like the offered tariffs and account management methods? Are there Russian speaking employees? Are any recommendations needed? And also how complicated the procedure for opening an account looks like.
Some banks allow you to open numbered accounts: the details of such an account do not indicate the name of the company (for corporate accounts) or the name of the owner (for personal accounts). On the bank card only a set of numbers is indicated. However, this does not mean that the bank does not know the client, because in any (!) case, when opening an account in a foreign bank, the client must provide the name of the beneficiary and provide a copy of his passport.
Numbered accounts first appeared in Switzerland. And although such an account abroad is associated with the name of a particular person (beneficiary), his identity remains an absolute secret for everyone, accessible only to individual employees of the bank that opened the account. Numbered accounts in foreign banks have another advantage: that they provide complete confidentiality bank transfers. When debiting money from a numbered account, the receiving bank sees only the account number, but it should be borne in mind that some European banks refuse to work with numbered accounts. And in this case, the amount sent from the numbered account can be returned to the sending bank.
A numbered account abroad is subject to the same rules as other bank accounts. And in certain cases, information constituting bank secrecy may be disclosed (for example, as part of the fight against money laundering). We believe that at present the use of numbered accounts is not advisable, in addition, there are very few banks offering such services.
A numbered account abroad should not be confused with an anonymous account. For some reason, the misconception about the existence of anonymous accounts still exists. Apparently, the fact is that at one time some banks opened accounts for customers via the Internet only on the basis of a provided copy of the passport. And it often turned out that a copy of the passport of one person was sent to the bank, and a completely different person (actually anonymous) managed the account on his behalf.
Of course, now the situation has changed radically, and all banks have stopped the practice of opening an account abroad in absentia. Today, bank employees, as well as professional intermediaries involved in the procedure for opening an account abroad, certify the authenticity of copies of the provided passports in the presence of their owners.
A current account in a foreign bank is intended for transit operations. The owner of such an account manages his funds without restrictions, makes any payments not prohibited by law and complies with the requirements for providing copies of supporting documents (contracts) to the bank if a one-time payment exceeds a certain amount agreed with the bank in advance or is not typical for this client.
In turn, a savings account in a foreign bank is intended for the accumulation of funds, it is, in fact, a “piggy bank account”. Transactions on such an account are minimal: from three to twenty per month, depending on the conditions established by a particular bank.
Therefore, it is quite obvious that opening a current account would be appropriate for a company acting as a settlement instrument, and a savings account would be convenient for a company acting as an investment accumulation instrument.
Each bank has its own specialization. Some are focused on preserving and increasing capital, others are focused on performing a large number of transactional operations. According to these criteria, all banks can be conditionally divided into two categories: savings and settlement.
About 70% of the banking services market is occupied by savings banks. These include banks in Austria, Liechtenstein, Luxembourg and Switzerland. As a rule, they set a high minimum account balance and limit the amount settlement operations. Banks providing settlement services generally have no account balance requirements and are primarily located in the Nordic countries, Hong Kong, Singapore and the United States.
There are also banks that do not limit their activities to any one direction: they are engaged in both settlements and investment management. These include, for example, the Baltic banks.
The reliability of the bank is understood as its ability to fulfill its obligations to customers on a certain date. There are several criteria for this characteristic. First of all, you should pay attention to the year the bank was founded. For a bank with a three-hundred-year history, failure is unlikely.
In practice, cases of bankruptcy of reputable banks lead to the fact that such a collapse serves as a new impetus for their development. And as an example, we can cite the sensational case in 1996 English bank Barings, which went bankrupt as a result of speculative operations of one of its Singaporean managers, who played on the Japanese yen. As a result, Barings suffered a loss of $1,400,000,000, more than double the bank's equity. And such losses, of course, led the bank to bankruptcy proceedings. But soon Barings was bought by the large Dutch banking group ING.
At one time, Barings' clients included Queen Elizabeth II and Prince Charles. And this may indicate another important criterion - client base. A serious financial institution, even with numerous debts, will not be allowed to "die": most likely, it will be acquired by another big bank. As a rule, the change of shareholders does not affect the interests of clients, unless the policy of the bank as a whole changes. For example, when opening accounts for a certain range of clients (Russian audience) may be terminated. Similar precedents met in the practice of some foreign banks.
The location of the bank can also indicate a certain reliability. According to this criterion, one can designate, for example, the reliability of European banks as one hundred percent. one more important point is the amount of compensation paid by the bank under the system state insurance deposits in the event of bankruptcy. In some countries, this amount is fixed in the legislation, in others there is no clear limit, and the amount of compensation is determined depending on the amount of money in the account abroad.
For any foreign bank, a relevant characteristic is reputation: people are usually interested in opening accounts in reliable banks with a high credit rating. Even the company's foreign partners often state that in order to carry out specific operations, the company's account must be opened with a foreign bank with a high rating category.
The reputation of the bank consists of several components. First of all, this is a story: how long has this bank existed? Thus, the Baltic banks were founded only at the end of the last century, and most of the Swiss banks have a fairly long history (often more than 200 years). The reputation of the bank is also partly determined by the number of employees working in it. For example, in largest bank Switzerland and its branches scattered around the world employ about 70 thousand employees, and in one of the American banks located in Seattle, only twenty-four people work, however, they speak eighteen (!) languages.
Affects the reputation of the bank and the number of its branches. However, it should be remembered that a large number of branches of a particular bank is not always a guarantee of the convenience of working with it. For example, one of the largest English banks has several thousand branches around the world and operates under the slogan "Your local bank". In fact, practice shows that he opens accounts for clients from Russia with great difficulty, and not in every foreign branch.
Recently Russian market banking services (opening accounts in foreign banks) is quite abundant. About one hundred and twenty banks in Europe, Asia and America work more or less actively with clients from our country.
The most important characteristic foreign bank, which is one of the criteria for his reputation, - geographical position. As a rule, it is the location of the bank that is primarily of interest to customers who are aimed at opening an account abroad. However, one should not limit the choice of a particular bank to the reputation of the country alone or the fact that business partners are located in this state. This can lead to the wrong decision, as the result is to work with a bank that does not meet the required requirements. For example, you may encounter a rather high cost of banking services, a “prejudice” towards the jurisdiction in which the company is registered, as well as the mentality of bank employees, which differs from our Russian approach to working with banks.
Of course, the geographical location of the bank should be taken into account, but the primary criterion should still be the correct functioning of the account and the specialization of the bank that suits you.
If the bank suspects that the essence of payments does not correspond to the originally declared nature of the company's activities, the account may be blocked for the subsequent clarification of all circumstances.
In addition, the bank is unlikely to agree that the column “Purpose of payment” will always contain the same phrase: “Replenishment of funds on the account”. In this case, you must be prepared for the fact that the bank will ask you to provide him with documentary justification for any payment.
It should be borne in mind that some banks are quite unpredictable in their actions when it comes to terminating the service of a client account for one reason or another. First of all, this concerns American banks, which have a practice of notifying a client with a requirement to close an account within a week without any explanation of the reasons for such a decision.
The client may be denied opening an account abroad due to the fact that he declares such activity of the company that does not suit the bank. It is also not recommended to indicate that the company has more than one type of activity. If you still have to specify several types, then they must all be “interdependent” (for example, grain trade and import of agricultural machinery).
There are cases when a company has to declare several types of activities that are independent of each other (for example, investment operations and coal trading), in which case this must be clearly stated when opening an account with a foreign bank, or ... acquire several companies and open a separate account for each .
In addition, the type of activity such as “financial intermediation” should not be indicated: in this case, there is hardly any bank at all that will open an account.
There are practically no restrictions on the number of accounts, just as there are no restrictions on jurisdictions in which it is possible to open accounts for offshore companies. Unless, for example, we are talking about registering an insurance company and making insurance coverage in a certain authorized bank. But this would be rather an exceptional case.
Many jurisdictions do not establish a mandatory requirement for opening bank accounts at the place of domicile, that is, the “registration” of a particular company: there is no obligation to have an account in a foreign bank of the same jurisdiction in which the company is registered. This applies to all offshore jurisdictions, as well as the UK, New Zealand, Cyprus, etc. But, at the same time, in Switzerland, the Netherlands or Austria, such an order is mandatory.
If a company has several accounts in different banks, and at the same time it is obliged to pay tax at the place of registration, there is an obligation for the company to provide bank statements from all of its accounts when submitting reports.
First of all, an apostilled set is required to open an account abroad corporate documents the company itself, and with a fresh date on the Apostille. If the company is not new, then additional documents will be required: the Certificate of good standing of the company (Certificate of good standing), which is an analogue of the Russian extract from the Unified State Register of Legal Entities, and a certificate that contains information about the directors and shareholders of the company (Certificate of incumbency). It is also necessary to provide resolutions on the appointment of directors, on the issue of shares, the share certificates themselves and the trust declaration.
The client must present a general passport of the Russian Federation and a foreign one. As the passport expires, the bank may ask for a copy of the new passport. In addition, copies of the passports of the director, attorney, shareholder and beneficiary of the company, as well as confirmation of their address of residence (proof of address) are provided to the bank. For citizens of the Russian Federation in this case, as a rule, it is sufficient to provide a copy of the page from the passport with a mark of registration at a specific address. A foreign client does not have a place of residence in his passport, and in this case the bank asks to provide, for example, copies of telephone bills or bank statements that came in his name at his address.
In some cases, foreign banks are asked to provide them with letters of recommendation from any other bank or recommendations from a business partner. Moreover, recommendations should be given by a reputable “recognizable” foreign partner on behalf of a company that really exists (in no case from the same offshore!), with its own business, with the ability to find a company in the relevant directories, on the Internet, etc. The recommendation must be on a letterhead and contain the details of the organization that issued it. The signature of the person who issued the recommendation must be deciphered.
Each bank sets its own requirements related to the certification of copies of the submitted documents. In most banks, simple copies of documents are certified by a bank employee, however, in some cases, banks require copies certified by a notary or, for example, they ask for original documents to be submitted for consideration and examination for a certain period.
In most cases, to open an account in a foreign bank, there is no need to go to Switzerland, Liechtenstein or, for example, Latvia. A personal meeting with a bank representative in Moscow is quite enough. However, in the case of Singapore, Hungary and some other countries, you will have to visit the bank.
There is another practice: in some banks, employees of head offices themselves express a desire to meet with a client to open an account in Russia or in any other European country.
The procedure for opening an account and requirements for clients in various foreign banks may differ significantly, however, there are some general rules. So, for example, the client is obliged to personally come to a meeting with a representative of the bank or to the office law firm(in the event that the bank has an agreement with this company for the provision of such services), having a complete package of required documents of its company in hand. As a rule, the personal presence of at least the future account manager is required, and at the maximum also the true owner of the company. The meeting is usually attended by a lawyer representing the interests of the client (the so-called "introducer").
In the event that the name of the account manager and the name of the beneficiary do not match, the bankers will definitely require a personal meeting with the beneficiary. Moreover, each of them (both the account manager and the beneficiary) must provide detailed information about yourself and your business. Banks are well aware that the account is opened on new company, but, in addition, they also perfectly understand that behind every new company there is always some real long-term business.
Today, the procedure for opening an account in foreign banks that traditionally serve offshore companies has become much more complicated. First of all, this is due to the fight against terrorism, laundering of "dirty money", corruption, illegal business, which has unfolded all over the world in recent years.
In addition, the tightening of requirements for customers is caused by the reform of the banking systems of European countries that have recently joined the European Union and are called upon to follow its directives in banking. Clients now need to provide the bank with more detailed information about all persons involved in the corporate structure, about the activities of the company and the purposes related to opening an account.
Only an authorized person can open, manage and close company accounts with foreign banks. Firstly, this is the director of the company, and, secondly, the company's attorney - a person who has a power of attorney with the right to open and close accounts, which must be written in it.
The bank stores all the information about such a person: copies of his passports, bank forms signed by him. In case of changing the account manager, the client is obliged to inform the bank about this and to carry out the procedure for changing the manager in accordance with the procedure provided for in this bank.
Banks allow you to open accounts in various currencies: mainly in dollars and euros. But it is possible to open accounts in pounds sterling, and in Swiss francs, and somewhere in rubles.
Technically, it looks like this: one multi-currency account or several accounts are opened, with a separate number for each currency. Of course, you can always send to the bank payment order to transfer funds in a currency that differs from the currency of the account itself. In this case, the payment will be made at the internal exchange rate that exists in the bank on the day of payment.
Banks do not open personal accounts for customer management commercial activities: business interests and personal financial interests must be clearly distinguished. At the same time, it is always possible to transfer the profit distributed by the company to a personal account, provided that the owner of such an account is the true owner of this business.
Technically, there are no difficulties in transferring funds on the current account of a legal entity to a personal account of an individual. They can arise, for example, at the sending bank or the receiving bank in case any suspicions arise. In this case, questions related to the source of funds may be asked. For credit and financial institutions, by virtue of their obligations to combat the legalization of proceeds from crime, the legislation establishes an obligation in such cases to ask such questions. Movements on the account of an individual should not have signs of regular business activity; banks monitor such transactions quite closely.
As a rule, personal accounts are opened in banks in Switzerland, Austria, Luxembourg. And these are usually accumulative (investment) plan accounts. A “pass” to the bank in such situations can be the presence of a minimum balance on the account, for example, from five hundred thousand to half a million dollars (depending on the requirements of a particular bank). It is expected that this amount will increase over time.
In some cases, a corporate account abroad can serve as a personal account. For example, you need to purchase real estate and register it not for yourself personally, but for a controlled foreign company.
Citizens-residents of the Russian Federation are required to notify tax authorities at the place of its registration on opening a personal account or deposit in a foreign bank within a month after such opening. For violation this requirement established liability in the form administrative fine. With regard to foreign companies, including offshore companies, the need to notify the tax authorities about opening an account with a foreign bank is not provided.
The ability of third parties to access information about the client provided to the bank when opening an account with a foreign bank is regulated by both international legal acts and national laws on banks and the banking system. The algorithm for providing information about the client and the composition of his assets in relation to banks of foreign countries is as follows: access to relevant information is possible only on the basis of a decision of a local court (sanctions of the prosecutor).
The local court decides to provide information if the Prosecutor General's Office of the Russian Federation has sent an international investigative order within the framework of a criminal case initiated in Russia. At the same time, a local court can make a decision to provide information only if a criminal case has been opened under an article that is considered criminal in the country where the bank is located. So, for example, in Switzerland, tax evasion is not considered a criminal offense, respectively, if a criminal case is opened in Russia under this article, then information on this request will not be provided.
Each bank individually determines the criteria for suspicion, but at the same time, they mainly depend on numbers (the volume of transactions, their size, frequency, multiplicity, etc.). Therefore, when opening an account abroad, it is necessary to discuss the relevant criteria with a representative of the bank in as much detail as possible, and in case of any changes in the nature of the movement financial flows be sure to inform the bank about this. This will be the most favorable way to build relationships, which, of course, will be appreciated by bankers.
If banks suspect or have reasonable grounds to suspect that funds in an account are the proceeds of crime or terrorist financing, they are required to immediately report their suspicions to the appropriate financial intelligence units.
Currently, international legislation is striving for the unification of legislative norms regarding the disclosure of bank secrecy.
The Financial Action Task Force on Money Laundering (FATF, FATF), an intergovernmental organization dealing with money laundering and the financing of terrorism, back in 1990 developed a document known as the FATF Forty Recommendations, to which were later added nine more recommendations. The provisions of this document have been implanted into the banking legislation of most economically developed countries and currently serve as a benchmark for the development of the global banking sector.
Bank secrecy is information that becomes known credit organization as a result of her professional activities. It includes information about bank deposit, account transactions, as well as information about the manager and the true owner of the account.
AT Russian legislation legal regime banking secrecy is established by Article 857 of the Civil Code and federal laws "On banks and banking" and about central bank Russian Federation(Bank of Russia). The Law "On Banks and Banking Activities" prescribes banking secrecy as information about transactions, accounts and deposits of customers and correspondents, as well as other information established by a credit institution that does not contradict the law.
The circle of persons associated with banking secrecy can be conditionally divided into two groups: firstly, these are the owners of banking secrecy (clients whose commercial interests are protected by the institution of banking secrecy, as well as credit organizations themselves that receive this kind of information to fulfill their obligations). ). Secondly, these are users of bank secrecy (persons who have access to bank secrecy due to the specifics of their professional activities: tax, customs authorities, prosecutors, etc.).
The concept of "bank secrecy" at present, under the influence of the fight against terrorism, the legalization (laundering) of money, has lost the meaning in which it existed before. Already everything the developed countries prescribed in their legislation the possibility and detailed procedure for access to banking information for fiscal, tax and law enforcement agencies. In addition, an exhaustive list of persons has been established who have the right to request from a credit institution information constituting bank secrecy, as well as ways to obtain such information.
Today we live in a global information space, and information is often a key commodity of great interest. And in this sense, banking secrecy, as well as guarantees of its observance, are covered with all sorts of rumors. When it comes to the fact that the bank “leaks” information, it should be understood that this, of course, is an echo of illegal actions.
Since a bank is, first of all, a commercial organization whose main goal is to make a profit, it cannot undermine its reputation by distributing information right and left, thereby scaring away customers. And every bank in every possible way will prevent the issuance of information. That is why the law establishes a very clear legal procedure, as a result of which information can become available only to a certain circle of people.
Nevertheless, the conclusion that suggests itself: in connection with the fight against terrorism and money laundering, access to information for tax, law enforcement and other authorities has expanded significantly. In this regard, it seems a reasonable decision to agree with the existing situation, accept it and learn how to work in the existing conditions.
In the national legislation of any country, the obligation of banks, when opening an account abroad, to take measures for customer due diligence (DD), including identification, is prescribed. Among these measures is the identification of the client and confirmation of his identity using reliable, independent primary documents, data or information.
First of all, this concerns the definition of the true owner of the company (beneficial owner): who owns the right of ownership? Who controls the company and how? Further, we are talking about obtaining information that reveals the main activities of the company and the intended nature of its business relations.
Quite often, banks collect additional data about the client: for example, marital status and the presence of children. Such information is essential when planning long-term relationships with the bank: there the bank itself tries to determine in advance who will become the heir to the funds stored in the account. Sometimes this information is used as an additional code key when identifying a client.
In the future, the bank on an ongoing basis carefully analyzes the transactions made by the client, makes sure that the transactions concluded correspond to the nature of the activity declared by the client, as well as his business activity, the nature of the risks, etc.
In addition, local legislation requires filling out a declaration of the beneficiary, without which today it is actually not possible to open an account in any foreign bank (for example, in Switzerland this is “Form A” - Identification of Beneficial Owner).
Foreign banks have different approaches to the Due Diligence procedure. So, for example, there are banks that offer the client to provide information about their activities in a free form (a company prospectus will be enough). At the same time, some Swiss banks check the client through independent bodies - detective agencies (of which the client is notified in advance). One thing is clear for sure - foreign banks prefer to work exclusively with "transparent" clients.
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 a 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 provide a statement of the movement of funds in 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 the tax authorities to directly receive information about the movement of Russian funds. 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 - 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 operation 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.
Most Required documents the ones you need look like this:
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.
How to open an account in a foreign bank website website
By now, the global financial and credit system has become a perfect, high-tech, global mechanism, and it becomes easier every day to start using it, "merging" into the international community. This makes, among other things, to think about how to open an account in a foreign bank for a Russian citizen. Contrary to the stereotype, the issue is relevant not only for owners of impressive fortunes, but also for citizens whose incomes are not so large.
European, American, Asian structures do not formally prevent such a decision, as well as national legislation (including Russian). However, in practice, the procedure can become a serious "headache" for an unprepared person. It's connected with:
However, not trusting the domestic credit system With its ups and downs, citizens of the Russian Federation are actively interested in how to open an account in a foreign bank for an individual, and already at this stage they face difficulties. Let's start with the fact that the representative offices of foreign structures operating within the country's borders and they themselves are not the same thing. If a bank is opened in Russia, then its activities are regulated by the Central Bank of the Russian Federation, issuing a license and monitoring compliance with the requirements of domestic legislation. Therefore, regardless of the source of capital, a subsidiary is not exempt from the "country" risk, and in order to avoid it, you need to apply to an office in the territory of another state.
Is it possible for a Russian citizen to open an account in a foreign bank under such circumstances, and how does the national legislation “look” at it?
The legal norms of the Russian Federation do not prevent citizens of the country if they want to receive an account outside its borders and comply with all the requirements of the law. An exception may be certain categories of persons - holding high state and administrative posts, members of the Board of Directors of the Central Bank, some other federal structures, plus their families. Complete list specified in the legislative norm No. 79-FZ of 05/07/2013.
Can a Russian citizen open an account in a foreign bank if he permanently resides in the jurisdiction? Of course, there are no restrictions for using all services. For all individuals, regardless of where they actually are, the procedure is simpler than for legal entities. However, in this case, business transactions cannot be carried out, so many decide to "link" accounts to companies, sometimes establishing them specifically for this.
At the national level, the procedure and features of working with foreign banks are regulated, first of all, by the legislation on currency regulation and Instruction of the Central Bank No. 100 of 29.08.2001. If ten or fifteen years ago the rules were extremely strict (for example, it was necessary to obtain permission from the Central Bank), today the procedure is simplified - the currency can be any convertible, it is permissible to open several accounts, managing them without restrictions. But you need to fulfill only a few key requirements:
The list of permitted transactions is also very limited - going beyond its "framework", non-compliance with at least one of the requirements will entail financial sanctions in the amount of 75-100% of the amount of illegal transactions. Also, the tax service must be informed about the fact of issuing an account, and no later than 30 days after the completion of the procedure, otherwise a fine will be imposed on the person, which can reach up to 5,000 rubles. Before opening an account with a foreign bank, you need to check whether the state has tax agreements with Russia - if they exist, funds can be transferred to the budget of the relevant jurisdiction.
Foreign credit structures also put forward their own requirements for applicants for partnership with them. How can a citizen of Russia open an account in a foreign bank if he does not have significant “justifications” - a residence permit, business, real estate in the country? This is quite possible: not all institutions cooperate only with naturalized persons (although this is done, for example, by Swedbank and most structures in the United Kingdom or Singapore).
In general, the following accounts are opened for private clients:
In most cases, the applicant will have to personally arrive at the office (this is required by all structures in America) or meet with his representative on the territory of the Russian Federation. Many institutions, especially those working with a serious clientele, have a manager's departure service, and some banks conduct telephone or Internet interviews.
How to open an account abroad for citizens of Russia, so as not to travel abroad? Use intermediary representation - with the help of a certified own signature (at consulates, partner banks), entrust the work to a professional expert. You can also choose a structure where there is a remote opening service - cards and documents are delivered by courier after they are issued. This is how many Baltic banks operate, and they, along with Chinese ones, are one of the few who register accounts with small amounts. Usually the threshold for cooperation for non-residents is 50-100 thousand dollars, and well-known corporations (UBS, Barclays, Credit Suisse), as a rule, place funds from one million.
At the other "pole" of the comfort of relationships are the institutions of Britain, which can request a huge number of documents, up to utility bills and recommendations on trustworthiness. Swiss structures are often asked to provide at least two letters of recommendation - each bank has its own requirements. The decision to grant the request or not is made by the officer, and refusals are not uncommon. It is necessary to prove the legality of owning funds - provide income statements for six months or a year, Russian banking history and so on. Also, before opening an account in a foreign bank, an individual will definitely need to present:
A potential client writes an application, attaches certified and translated documentation to it, after which it is accepted, providing papers for tax office. Further, the application is considered, and the process can drag on for several days, weeks or even months. If everything is done correctly, the client receives the details and can start using the account.
We have already found out how to open an account abroad for Russian citizens, but there are nuances in its use. You need to remember about the deposit insurance system and the minimum balance requirements:
Some institutions do not welcome cash replenishment funds, and for non-cash transfers, you will have to take documentation and confirmation of tax registration (to present to the local bank where the accounts are issued). You can manage the movement of financial flows through.
Individuals and legal entities. This is required for the full functioning of a foreign company or for cash settlements of residents and non-residents. For the Russian, as well as for others foreign citizens, operate special conditions how to open a bank account in another country.
European banking system has been stable over the years. Holders are attracted by the guarantee of financial stability from the state and European Union. You can open an account in Europe in one of the following countries:
The choice of country is based on individual needs. For example, if an urgent opening is required without a visit to the bank (i.e. remotely), then the services of Latvian banks are suitable. For those who care about privacy - Liechtenstein, and for cheap tariffs to Poland or the Czech Republic.
In addition to European options, others are also available:
Services are available for individuals and for companies. Corporate accounts are often opened offshore. This option has an advantage in terms of taxes. Some organizations offer services under High risk
Remotely means without a visit to the country where the bank is located. This is possible in two cases:
The bank has a representative office in Moscow or in your city;
Despite the fact that you have to visit one of the offices - our company or a branch of the bank, this method is remote. This is true, because in the end you draw up all the documents without going abroad.
Unfortunately, this service is not available in all organizations and not in all countries. Even less common is the ability to conduct transactions completely online. Our staff will advise you on current possibilities.
A number of factors affect the package of documents for individuals:
Country where the bank is located;
Type of account for a foreigner;
Everything necessary is issued to a person who will subsequently be able to manage the account and will have the right to sign. This rule also applies if an account is opened for a non-resident.
An individual will need an internal and foreign passport to open an account abroad. Financial institutions sometimes put forward additional requirements, so before opening, always check the current list.
Citizens of Russia, like other countries, have two options: to arrange everything on their own or to seek qualified support. When preparing a package of documents on your own, problems occur. And delay is one of them.
On average, after all the papers are processed and received by the bank, it takes about 7 business days to open. The more time you spend before this, the longer the processes will drag on. Contact our company. We will not only speed up the process, but also avoid annoying problems. More about our company:
Exists additional service: Urgent opening of an offshore account. In this case, the review takes up to four days. If you combine the service and a bank that immediately provides details, then all processes will take about 1 week.
It is convenient that access is carried out remotely using Internet banking or a mobile application.
