The list of documents to be prepared for opening a bank account with foreign bank varies depending on the requirements of the financial institution you choose. Sometimes it is enough to submit your passport, delivering it through your proxy, other banks require a video call to identify a customer remotely.
When it comes to countries that have been put on the list of countries unfriendly to the Russian Federation, it is much more difficult to open a bank account with banks on the territory of Russia. In addition to the numerous restrictions, the list of documents is much longer. For foreign financial organizations of unfriendly countries, banks often require documentation on employment, other sources of income, Residence Permits, and SIM cards registered with the local service provider.
According to the current legislation, residents of the Russian Federation are required to notify the tax authorities about the opening/closing of bank accounts located on the territory of other countries. The exact list of authorities that have to be notified:
The tax service operating at the place of residence in Russia.
For large taxpayers - the tax office registered at the place of registration.
The IRS at the address of the property that belongs to the taxpayer in the absence of his permanent residence.
The IRS at the address of any of the properties that the taxpayer owns (chosen by the owner at his or her discretion).
If a person does not have a permanent place of residence, any real estate, you need to contact any tax authority of the Russian Federation.
According to the official Decree of the Government of Russia № 1365, drawn up on December 2, 2015, residents of the Russian Federation must submit reporting documentation to the tax authorities, which is collected between January 1, and December 31 of the reporting year. At the same time, an individual can submit the report until July 1 of the following year.
The amount of the fine for violation of the repatriation deadline is determined according to part 4, part 4.2 of Art. 15.25 of the Code of Administrative Offenses of the Russian Federation and is 3% to 30% of the amount of finances not credited on time.
Liability for non-fulfillment by a resident, including a foreign trade participant, of an obligation to fulfill/terminate a foreign trade agreement (contract) - a fine 5% to 30% of the amount of money due to a resident from a non-resident; for officials - 20,000 to 30,000 rubles (part 4.3. Art. 15.25 of the Code of Administrative Offenses of the Russian Federation).
For violation of the deadline for repatriation of financial payments for non-fulfillment of obligations to import goods into the Russian Federation and /or provision of services and information, the fine will be 3% to 30% of the amount of unfulfilled obligations (Part 5 of Article 15.25 of the Administrative Code of the Russian Federation). If the amount of funds credited on time during one year is more than 100 million rubles, the fine will increase – 75% to 100% of the total amount.
A fine for violating the notification period of the authorized bank for foreign exchange transactions is accrued if the delay exceeds 90 days – for individuals, the fine will be from 2.5 to 3 thousand rubles; officials are required to pay from 4 to 5 thousand rubles, and legal entities from 40 to 50 thousand rubles.
Since October 1, 2021, a fine has been imposed on the territory of the Russian Federation for failure to submit reports on currency transactions using foreign electronic wallets. The amount of the fine is 20% to 40% of financial assets (in total for the year).
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