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Opening a Russian Bank Account for a Foreign Company. Service offer

List of corporate documents of a foreign company required to open a Russian bank account. Documents and information required for registration with the tax office by a foreign entity that intends to open rouble and foreign currency accounts in Russia. Our fee for assistance in opening an account in Russia.

Contents

  1. General information
  2. List of corporate documents of a foreign company required to open a Russian bank account*:
  3. Documents and information required for registration with the tax office by a foreign entity that intends to open rouble and foreign currency accounts in Russia
    1. For the purpose of filling in the relevant forms and applications, it is necessary to also provide the following information:

General information

Banks of Russia open current and savings (deposit) accounts;

They can open accounts in Russian rubles (RUB) and a foreign currency;

Russian banks open accounts not only for Russian companies but also for foreign companies, that is those incorporated OUTSIDE the Russian Federation (RF);

Original documents of a foreign company that are provided shall be legalized / apostilled and have a notarized translation into Russian;

There is no requirement regarding the minimum account balance;

No requirements are imposed on companies regarding economic substance in Russia, however having a local office and counterparties in the country significantly simplifies the opening of an account;

Tax registration in the RF and director’s visit to the bank’s office are required to open an account; it is also possible to open an account by power of attorney issued to the account signatory;

They issue bank cards;

There is online banking;

Opening an account takes at least 1 month.

List of corporate documents of a foreign company required to open a Russian bank account*:

  1. Certificate of Incorporation;
  2. Memorandum and Articles of Association;
  3. Certificate of Good Standing;
  4. Extract from the Registrar (Certificate of Incumbency);
  5. Certificate of registration with the tax authority of the Russian Federation (TIN Certificate) (please see below the information about the registration of a foreign entity with a Russian tax office);
  6. Documents confirming the powers of the sole (collegial) executive body of a legal entity;
  7. Power of attorney (in case of opening an account by power of attorney). The text of the power of attorney must be agreed with the bank;
  8. Identification document of the sole executive body (individual) of a legal entity, of persons authorized to manage funds in the bank account, and of other representatives of a legal entity;
  9. Specimen signature and seal imprint card, notarized.
*The list is indicative and may vary depending on the country of incorporation of a foreign company and the selected bank. Banks reserve the right to request any other documents and information.
Our fee for assistance in opening an account in Russia is USD 1 500

We also provide services of ordering and executing corporate documents of the company, their legalization and notarized translation into the Russian language. The fees for these services are to be agreed separately.

Documents and information required for registration with the tax office by a foreign entity that intends to open rouble and foreign currency accounts in Russia

A foreign entity interested in opening a bank account in Russia must be registered with an office of the Federal Tax Service of the Russian Federation at the place of tax registration of the bank in which the account will be opened.

According to decree of the Federal Tax Service of the RF No. ЕД-7-14/801@ dated 25 September 2024, which must be applied since 1 March 2025, a foreign organization shall provide the tax authority with the following documents** and information:

  1. application form by a foreign entity for registration with a tax authority;
  2. extract from the register of foreign legal entities of the country of origin or another equally valid document confirming the legal status of a foreign entity;
  3. document issued by the authorized body of the foreign entity’s country of origin, confirming the entity’s tax registration in this country and stating its tax number (or an equivalent tax code), or a document issued by the said authorized body on the absence of such tax number (its equivalent); if the tax number (its equivalent) is stated in the extract from the register (see clause 2), a document specified in this clause is not required;
  4. power of attorney for the individual submitting documents to the tax office;
  5. document confirming the powers of the person to sign the tax registration application form.

Foreign documents are submitted to the tax office as notarized copies made of the foreign entity’s legalized/apostilled original documents translated into the Russian language.

If there is an international agreement in place waiving the legalization (apostille) of documents, the documents are provided as notarized copies made of the Russian-translated original documents issued by the authorized bodies of the country of origin.

For the purpose of filling in the relevant forms and applications, it is necessary to also provide the following information:

  • Full name, address, TIN (tax identification number) and KPP (tax registration reason code) of the Bank, in which accounts will be opened in Russia.
  • Tax number of the foreign entity, if any.
  • Types and the currency of accounts to be opened.
The fee is 30 000 roubles per company, it includes advice on the package of necessary documents, obtaining the necessary clarifications from the tax office, preparing an application to the tax office, drafting a power of attorney for our employees, submitting and receiving documents to/from the tax office

It does not include the making of the company’s foreign documents with consular legalization and translation and the making of their notarized copies; these are paid for separately.
** The list of documents is not exhaustive and can be amended upon provision by the Client of the particular package of documents
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USD 1 500
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