Bank account in Russia for a foreign company
Open a bank account in Russia for a foreign company in Russia and use the best banking service in the world.
Use our free legal advice
On the basis of Article 13 of Federal Law No. 173-FZ “On Currency Regulation and Currency Control”, non-residents in the territory of the Russian Federation have the right to open bank accounts in foreign currency and the currency of the Russian Federation only in authorized banks (the list of authorized banks can be viewed on the website of the Bank of Russia).
Advantages of opening a bank account for a foreign company in Russia
Non-residents have the right to transfer foreign currency and the currency of the Russian Federation without restrictions from accounts in banks outside the territory of the Russian Federation to their accounts in authorized banks, and vice versa. The requirements of currency control do not apply to the operations of foreign companies.
A foreign company does not have tax obligations in Russia if the company’s activities do not lead to the formation of a permanent representative office in the Russian Federation or / and do not lead to the extraction of income from sources in the Russian Federation.
For a foreign company that operates exclusively with foreign capital, not so strict criteria are imposed when making cross-border payments. It is known that all operations that involve the movement of Russian capital abroad are closely monitored by Russian banks. However, in the case of foreign capital, the control of banks is much more restrained.
Russian banks are distinguished by a high level of technological efficiency and automation of banking services. Experts note that banks in Russia are a big step ahead of both European and American banks in terms of the convenience of working online and the security of online transactions. The bank account is managed online, and the interface of the banking programs is available in both Russian and foreign languages. Confirmation of payments is possible both by SMS to any numbers, and with the use of a token.
The cost of monthly maintenance of a bank account, as well as the cost of international transactions, is inexpensive and suitable for businesses of any size.
Many Russian banks actively carry out international operations and have established correspondent relations with the world’s leading banks. You will have the opportunity to make payments in any freely convertible currency. Payments in US Dollars and Chinese Yuan are naturally possible.
The systemically important Russian banks (approximately, the top 10 banks) are the largest financial institutions in Russia, whose financial condition is closely monitored by the Central Bank of the Russian Federation. The probability of bankruptcy or revocation of the license of these banks is practically absent. Therefore, this risk is reliably covered, which is certainly an important aspect. But there are also many other banks operating in Russia that are not included in the list of the largest or systemically important, but are still quite large and reliable banks.
In banks located in Moscow and providing services to foreign businesses, it is often possible to meet specialists who speak different languages. Although support in a foreign language is not an officially declared service of the bank, you can still expect that communication in English will not be a problem.