Publications

  • News
  • Legal overviews
  • Publications
  • Subscribe
Press Center
Send email
  • ENG
  • РУС
  • Services
    • Practice Areas
      • Corporate Law / Mergers and Acquisitions
      • Contract Law
      • Real Estate and Construction
      • Project financing / Public-Private Partnership
      • Bankruptcy
      • Antitrust Law
      • Intellectual Property (IP)
      • Tax Law
      • Labor and Migration Law
      • Customs Law
      • Commercial Arbitration and out-of-court dispute resolution
      • Anti-Corruption Law / Compliance
      • Wealth Management
      • Sanctions Compliance
      • Data Protection
      • Criminal Law
    • Industry Sectors
      • Protection of information and trade secrets
      • Health Care and Pharmaceutical Industry
      • Commercial real estate
      • Food industry
      • Natural resources / Energy
      • Advertising / Marketing / Sponsorship
      • Construction
      • Information technology
    • Additional Services
      • Accounting services
      • Partner Services
      • Professional translations
    • Support for business in China and Hong Kong
      • Legal support for business in China and Hong Kong
    • Invest Hub
      • Developing your business
      • Current transactions
    • Recommended specialists
      • Recommended specialists
  • Projects
    • Projects by practice area
  • Firm
  • Press Сenter
  • Careers
  • Contacts
  • Client Room
  • Firm
  • Press Сenter
  • Careers
  • Contacts
  • Client Room
  • ENG
  • РУС
  • MOSCOW: +7(495) 970-1090
  • ST. PETERSBURG: +7(812) 346-7990
  • Services
    • Practice Areas
      • Corporate Law / Mergers and Acquisitions
      • Contract Law
      • Real Estate and Construction
      • Project financing / Public-Private Partnership
      • Bankruptcy
      • Antitrust Law
      • Intellectual Property (IP)
      • Tax Law
      • Labor and Migration Law
      • Customs Law
      • Commercial Arbitration and out-of-court dispute resolution
      • Anti-Corruption Law / Compliance
      • Wealth Management
      • Sanctions Compliance
      • Data Protection
      • Criminal Law
    • Industry Sectors
      • Protection of information and trade secrets
      • Health Care and Pharmaceutical Industry
      • Commercial real estate
      • Food industry
      • Natural resources / Energy
      • Advertising / Marketing / Sponsorship
      • Construction
      • Information technology
    • Additional Services
      • Accounting services
      • Partner Services
      • Professional translations
    • Support for business in China and Hong Kong
      • Legal support for business in China and Hong Kong
    • Invest Hub
      • Developing your business
      • Current transactions
    • Recommended specialists
      • Recommended specialists
  • Projects
    • Projects by practice area
  • Home
  • Press Сenter
  • Publications
  • On foreign bank accounts opened by Russians

Publications

Information and relations

On foreign bank accounts opened by Russians

  • Author: Ekaterina Smolovaya
  • Services: Tax Law, Wealth Management
  • Date: 30.08.2022

Since the spring of 2022, Russian bank cards can no longer be used abroad, and Russian tourists and businessmen have been opening accounts in foreign banks.

The people that do so, must satisfy numerous and sometimes overwhelming requirements of foreign banks, and, just as important, must comply with the appropriate Russian laws. Formally speaking, Russian law does not restrict the right of citizens (so-called “residents”) to open accounts abroad, including in states which have been declared non-friendly. Foreign partners or employers can pay them salaries, rent, dividends, coupons and other interest income without any obstacles.

However, there are many uncertainties caused by the turbulent geopolitical situation. “Opening foreign bank accounts per se, including in non-friendly states, is not a violation of the law or anti-sanctions decrees of the Russian President. But despite the enormous number of legislative acts, some routine everyday operations still require detailed regulation. This includes Russians making cash deposits on their foreign accounts or transfers between foreign accounts of different residents (e.g. transactions between relatives or friends who left the country) and even between a single person’s own accounts opened in non-friendly states after March 1,” reminded Ekaterina Smolovaya, Principal Associate of the Tax practice at Capital Legal Services.


  • News
  • Legal overviews
  • Publications
  • Subscribe
Press Center
Send email
  • Home
  • Services
  • Projects
  • Team
  • Sitemap
© 2022 Capital Legal Services LLC. All rights reserved
Disclaimer