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Thursday, March 15, 2018

Rossina don’t have to account for the movement of money in foreign accounts

Relief for account holders in foreign banks decided to make the Ministry of Finance. Officials decided to expand the list of cases in which you can transfer money to a foreign Bank.

photo: Marat Abulhasan

As it became known “MK”, the Ministry has developed amendments to the law “On currency regulation and currency control”. If the bill is approved, the list of permitted operations will be supplemented by two new paragraphs. The first – sale machine. The second – sale. In both cases, the property must move to a natural person – non-resident. Simply put it is a transaction where the seller – a Russian, and the buyer is a foreigner. Then the proceeds from the sale of the limousine or the boring house on the coast, it will be possible to put in a foreign Bank. Now such operations are possible only in cases of dividends or interest from successful investments. In addition, the bill provides for the release of Russian citizens living permanently in a foreign state from the obligation to report the movement of funds in the accounts of import banks. However, this requires that the Russians have been living abroad for at least a year. There is one condition: if a citizen of periodically leaving the country to their historic homeland, the duration of his visits to Russia during the year must not be more than three months.

Countries where it is difficult or impossible to open an account Russian citizens:

1. UK

2. Scandinavia

3. Singapore

4. Latvia


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