Do you need to make a deposit, what should be taken into account when choosing a foreign bank and drawing up documents, what laws should be read before investing money abroad - we have collected fresh information for you and put it on the shelves.
Why is the foreign contribution interesting?
There are two standard goals: to preserve and increase capital. However, in fact, it is more about the safety of funds than about potential income... Deposits abroad are not always an investment. But a deposit account makes it possible to diversify your investment portfolio by investing money in different national currencies or precious metals.
Who is interested in?
For those who are ready to immediately invest enough large sum... Low interest rates plus expensive service rates are more suitable for those who have at least 50 thousand euros for this.
Advantages of foreign banks for opening deposits
- Trust in the foreign banking system.
- High sums insured(within the EU - up to 100 thousand euros).
Deposits abroad: basic
- Low interest rates (on average in the EU 1-2%, sometimes up to 5).
- Strict conditions for early termination of the contract.
- High threshold for the initial deposit amount (from 10 thousand euros).
How to choose a foreign bank
Remember: when choosing a bank, you choose a country. Pay attention to:
- stability of the national currency,
- sustainability financial system states,
- on the reputation of the regulator,
- the reputation of the state itself in the world geopolitical arena.
For example, until recently, the most "tasty" for Russians were deposits in banks in Cyprus and the Baltic countries. They offered favorable interest rates (up to 5%), were loyal to non-residents from the CIS, and offered service in Russian. However, these countries, including their banking sector, are subject to general trends. Financial institutions are easily deprived of licenses, get rid of Russian money, and the attitude towards non-residents is aggravated. It is easy to see that the more stable the state, the lower the percentage, the higher the tariffs and the stricter the rules. Therefore, the client, in fact, has a choice: cheaper and more risky, or more expensive and more reliable. The choice is yours!
What is "deposit insurance"?
The minimum amount that the bank is obliged to return to the client upon closure (bankruptcy, reorganization). So, for the European Union, the insured deposit is 100 thousand euros. Contributors of any European bank will receive back at least 100 thousand euros if it ceases to operate. The guarantor is central bank each EU member.
What else is worth considering?
- % rate,
- irreducible balance,
- insured amount,
- commissions / tariffs,
- list of documents,
- terms of termination.
What are the requirements for non-residents
Non-resident to non-resident strife. For representatives of the CIS countries, in particular, for Russians, the list of requirements is higher than for others. To open a deposit account abroad, you need to go through the compliance procedure for compliance with the AML policy (anti-money laundering). To do this, you will need:
- Explain the origin of the funds. They must be legally acquired, and this fact must be transparent.
- Collect a complete package of documents that meets all the requirements. Once again: it is better to clarify in advance not only the list of papers, but also the requirements for them. Forms / samples of documents differ from country to country; a foreign bank may not be satisfied with a chaotic extract from Russian institutions.
- You should not be blacklisted, and your activities should be completely legal.
- Your connection with the bank's country of residence will be a plus.
Is it profitable?
If you expect to make money on a deposit, it’s not a fact. Before deciding to invest, compare the following numbers:
- bank tariffs (for opening, maintenance, account replenishment, etc.), including conversion fees (as well as exchange rates),
- potential interest rate gain.
Personal presence will most likely be required, so consider travel expenses as well.
Think in advance also about how you will credit the money. International transfer involves high commissions, and cash will have to be declared when crossing the border.
Do not forget to inform the Federal Tax Service!
Tax residents of Russia are required to notify the tax service about opening an account abroad, as well as report on the movement of funds.
Is income from a foreign deposit subject to Russian taxes?
Yes. You are owed personal income tax at a rate of 13%.
Can everyone open a deposit abroad?
No. For example, according to Russian legislation persons holding public office cannot keep money abroad.
What other information might help?
- Federal Law N79-FZ "On State Civil Service Russian Federation". Here is about who cannot place a deposit in foreign banks.
- Federal Law N173-FZ "On currency regulation and currency control". Here are all the details about currency accounts.
- Tax Code, article 83 - here about how you must notify the control authorities about the opening of a foreign deposit.
When studying other sources, look at the date of publication of the text. Banking sector very sensitive, the market situation can change rapidly. The Internet is full of articles where it is recommended to invest in a foreign bank that has long been closed. Use only up-to-date information!
V recent times the demand for placing deposits in foreign banks is growing more and more, as their percentage has nothing to do with the Russian economy, and therefore is so attractive Russian citizens.
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Keeping money in different banks, the owner, thus, reduces the risks of their investments. Such a strategy is quite reasonable, because the chance that cataclysms will occur in several states at once is negligible.
Basic information
Deposit is a transfer process Money the depositor to the bank at interest with their return after a specified time or at the request of the client.
By investing your savings in the bank, you start to make a profit from them. Banks are fighting every day to attract as many customers as possible.
Especially valuable clients are depositors, because their capital is used to replenish bank reserves and use in their commercial activities.
One of the main industry is, which requires a constant inflow of capital, which banks issue at interest to the population and organizations.
In this regard, it is profitable to open deposits, making a profit in the form of interest payments on the amount while your money is working somewhere.
When banks run out of reserves, offers with favorable interest rates on deposits sprout like mushrooms after a rain.
What period should be chosen for registration of such a service depends not only on this factor, but also on seasonal fluctuations.
For example, in summer period people tend to spend money on vacation. Accordingly, they withdraw part or all of the savings from the account, and banks again take into account this trend and are obliged to raise rates to attract new depositors.
Foreign deposits are more convenient for those who carry out activities abroad, as well as for ordinary citizens who have sent their children to study abroad.
Concepts
Despite the general knowledge, there are always people who do not understand the basics, and what kind of contribution would be beneficial and convenient specifically for them.
To do this, you need to understand the concepts and types of deposits that both our and foreign banks can offer.
It should be said right away that Russian banks give a much higher interest on offers of deposits than foreign ones.
But if you just want to protect your honestly earned money, and are worried about the reliability of our banks, it would be a wise decision for you to try to open an account abroad.
And in this case, be prepared to pay hefty for account opening, maintenance and other transactions.
Also, for non-residents, the percentage is most often offered even less than for their own, and the minimum down payment will be about $ 50 thousand and higher.
As an option, you can consider our banks that have branches abroad, but many citizens are also distrustful of them as well as ordinary Russian ones, preferring European and Swiss, Cypriot and Baltic ones.
Requirements for depositors
As already mentioned, open a deposit in foreign bank much more complicated and problematic.
Therefore, you should be ready to submit such certificates that you have never heard of in your life.
There is also an article that already punishes those who have not reported to the authorities on their foreign exchange transactions.
This is written in, which indicates the size of the penalties, ranging from 5 thousand rubles. for physical persons up to a million rubles for legal entities persons.
If you did not report within a month after opening an account, a fine is also inevitable for late notification, from one thousand to five thousand rubles.
Also in this law there is a requirement for an annual report, which contains all the movements on your accounts, and in case of late filing or its absence, fines will also be inevitable.
How to make a deposit in a foreign bank
First of all, choose a country that is considered reliable for non-residents, then write a letter and clarify what will need to be prepared for the transaction.
Many banks require the depositor to be present in person when opening an account.
As in any bank, the appropriate documentation is required, and also a feature is an interview with a representative of a foreign bank, on which the possibility of placement in this bank will depend.
A good option under the terms will be the Baltic banks, banks of Latvia.With regard to branch banks, you can contact Citibank, which allows Russians to complete a deal outside of Russia with the least amount of problems.
What conditions are offered for Russians
As we already know, foreign banks do not throw high interest rates, so Russians can expect from 3 to 5% at best, and up to 1.5% on average. Otherwise, the conditions are based on the same ambushes as in Russia.
Required documents
In addition to the questionnaire itself, you will need such possible documents as:
- a foreign passport, and sometimes a second half, certified by a notary,
- certificate of income in the form of a bank for several years (depends on a particular bank),
- certificate of family composition,
- receipts for payment of utility bills,
- as well as a certificate certifying that you are not convicted and are under investigation. Such a certificate can be obtained from the police station.
This is the minimum package that you can focus on, but before processing, you should clarify the full package of documents.
If you open an account and have an existing one in one of Russian branches, the solution will be much faster.
How to get the highest interest on deposits
Keeping up with interest will be extremely difficult when it comes to foreign investment. But, of course, you can familiarize yourself with several banks that provide the highest among their competitors.
We present to your attention a list of countries that are popular among Russian citizens, as well as those that have Cyprus banks, Latvian banks, and US banks are popular.
With regard to other countries, such as Switzerland, Belgium, Germany, these are reliable banks, but the interest is negligible, and the service will cost more than paying interest, so such options are not suitable for those who want to increase their capital.
Profitable offers from banks
Is there a possibility of registration for a short time
There is an opportunity, but it loses its meaning, tk. the percentage is very small, in comparison with our offers, the service is expensive, and the time for registration takes a lot.
Up to 1 year you can apply for almost any bank, and you can do it, but to what extent it will be rational and profitable.
Advantages and disadvantages
The advantages of this type of contribution will be:
Privacy and confidentiality The point is that if you have a company and want to hide your savings, then no, this is not about that. Privacy can be obtained by an individual Reliability Foreign banks are famous, first of all, for their reliability, therefore, when making deposits abroad, you do not have to worry about the return of funds, because in many countries, the law protects the savings of both residents and non-residents of the country, so you can always receive compensation from the state if the Bank closes, although this is extremely rare Great opportunities You can keep money in a bank abroad not only for the sake of reliability and payments, but also earn extra money by buying securities and other financial industries There are also several disadvantages:
- Low interest on deposits. Despite the popularity foreign deposits, the biggest disadvantage is the inability to make money in this way.
- Expensive account opening and maintenance.
- Long registration process and high rejection rate that cannot be influenced.
- The impossibility of opening without personal presence, which burdens the process and significantly increases costs.
- Reporting to government bodies and fines.
The distrust of depositors to national banks leads to an increase in interest. Despite the fact that annual deposit rates are more attractive in Russia, many citizens open accounts abroad. Consider the conditions for foreign deposits and how to open them.
In this article:
Features of deposits in foreign banks
Opening a deposit in a bank abroad has a number of advantages and disadvantages in comparison with Russian banks.
Positive sides:
- High.
- Reimbursement of the full amount of the deposit (up to 100 thousand US dollars) in the event of bankruptcy (in Russia, in a similar situation, you can count on the return of only part of the deposit in the amount of not more than 1.4 million rubles).
Negative sides:
- Large minimum loan amounts (from 10 thousand US dollars).
- High (up to 2 thousand USD per year).
- Low compared to domestic banks.
- Lengthy registration process (from several weeks to several months).
- A large package of documents, since depositors of foreign banks are under the close control of the tax service.
- Personal presence at the bank to sign the contract (additional travel costs).
Do you keep your savings in foreign currency?
YesNo
How to open a foreign deposit
The procedure includes a thorough check of the potential client, especially the legality of his source of income.
To open an account, the bank requires not only the usual passport and application for a Russian, but also the following documents:
- A certificate confirming the amount of income for the past several years with the certification signature of the tax authority.
- Copies of the passport certified by a notary, including the spouse.
- Inquiries about the composition of the family.
- Police clearance certificates.
- Receipts for utilities issued in the name of the client (in order to confirm the place of residence indicated in the questionnaire).
- Other certificates at the discretion of the bank.
After preparing the documents, they begin to sign the contract. Several options are possible here.
Deposit calculator
Deposit amount
Interest rate (%)
Deposit term (months)
Monthly interest
Reinvested withdrawn
The first is an independent dialogue with the bank. The contributor can forward everything Required documents by mail or fax, and after receiving a positive decision, visit the country where the bank is located and sign an agreement.
The second is communication with the bank through branches in Russia. In such offices, they will help to collect required package documents to be sent to the main office. But even in this case, you will have to travel abroad to sign the agreement.
The third is working with intermediaries. There are various firms that specialize abroad. The territory of signing the documents depends on the agreements between the company and the bank.
Please note that after signing the contract, the depositor is obliged to inform the tax office about opening a deposit.
Otherwise, a fine of up to 5 thousand rubles is possible. and ban from bank accounts in Russia for a foreign deposit.
TOP-5 foreign deposits
Domestic banks offer foreign currency deposits up to 3.5% in US dollars and up to 1.5% in euros. Offers abroad are not so profitable, therefore, deposit accounts are opened more often for saving, rather than accumulating money.
Leaders by annual rate:
- The most favorable conditions for deposits in Cyprus. Banks of Cyprus, AlphBank, Cyprus Popular Bank Ltd can receive up to 4.5% per year on dollar accounts. There are promotional offers up to 6% per annum.
- In second place in terms of profitability are the Latvian banks Citadele with a rate of 3% per annum in US dollars and BIGBANK with a rate of up to 2.65% in euros.
- The USA represented by banks Jones Vanguard Croup and Edvard announces deposits at 2.96% per annum in USD.
- The British Bank of London and the Middle East offers to open an account with a 2.8% rate in pounds. Art.
- ING Direct Italia, located in Italy, is ready to place a deposit at 1.4% in euros.
- Banks in Belgium, Germany, Sweden, the Netherlands and Switzerland offer relatively good rates, ranging from 1 to 1.25% per year.
The difficult economic situation is forcing individuals to look for new ways to save financial resources... More and more wealthy people are considering the possibility of depositing money in a foreign bank at interest. Many are stopped only by ignorance of the specifics of the procedure and rules for opening a deposit in a foreign bank.
Is it possible to put money in a foreign bank at interest
According to the current Russian legislation, all residents of the Russian Federation have the right to open deposits in foreign banks. A citizen of Russia has the right, without any restrictions, to open a deposit in a foreign bank if he does not belong to a certain category for which such actions are prohibited. It is not allowed to open deposits abroad for persons holding one of the government positions in the Russian Federation. In addition to civil servants, he is not entitled to have deposits:
- current deputies;
- members of the Board of the Central Bank;
- heads of city and municipal districts, local administrations.
The same restriction applies to the wives and minor children of deputies and persons holding public office.
What a depositor needs to do after opening
When opening a deposit in a foreign bank, a Russian is obliged to provide a notification to the tax office within 1 month. Information about all changes in account details or the fact of closing a deposit must be promptly reported to the tax office. This requirement does not apply to persons whose duration of stay abroad during the year is more than 183 days. You can provide information about opening a deposit in one of the following ways:
- by personally visiting the department and providing documents;
- via RF mail;
- using an online service.
For non-observance of the rules, the violator faces penalties:
- violation of the deadline for submitting data or non-compliance with the form of submission - from 1,000 to 1,500 rubles;
- lack of information about opening a deposit - from 4,000 to 5,000 rubles.
Important! Citizens of the Russian Federation are required to submit to the local tax office a statement of cash flows on a deposit in a foreign bank to the local tax office by June 1. For violation of the rules for submitting a report, a citizen is punished by administrative methods - a fine from 2,000 to 3,000 rubles.
In which foreign bank to open an account
Rates in banks of other countries do not differ high interest rates and are more often used by clients as a store of value rather than accumulation of capital. On average, the most profitable deposits bring profitability from 1 to 3%. The exception is the banks of Cyprus, which are ready to guarantee foreign citizens the highest interest on open deposits- up to 6% per annum. If you want to make a deposit abroad, it is recommended to pay attention to the following rating:
- Cyprus, Bank of Cyprus, AlpBank, Cyprus Popular Bank Ltd - from 4.5 to 6%;
- Latvia, Citadele - 3% on dollar deposits, Bigbank - 2.6% on euro deposits;
- Great Britain, "Bank of London and the Middle East" - 2.8% on deposits in pounds sterling;
- in Swiss, German, Belgian, Dutch, the client has the right to count on a rate from 1 to 1.25%.
Having made the decision to make a deposit, you should be prepared for the fact that foreign credit institutions will provide a foreigner with the opportunity to deposit funds for less favorable conditions investments, reducing the level of the base rate by several points.
Requirements for depositors
Before opening an account in a foreign bank, a Russian citizen will need to collect a large list of documents and go through a long check. The main requirement for a depositor from foreign banks is his reliability and confirmation of the legality of income. To open a deposit in a foreign bank, you will need to provide a passport and a completed application form for opening an account. Additionally, you need to prepare:
- a certificate with the seal of the tax service on the amount of income received over several years;
- a notarized passport of not only a potential investor, but also his marriage partner;
- certificate of family composition;
- no criminal record;
- a receipt confirming the absence of debts in housing and communal services to verify the reliability of the address of residence;
- other documents that the credit institution will require.
The depositor has the right to independently choose the course of events:
- send all documents to the bank via fax and conduct a dialogue with the credit institution independently;
- contact a branch of a foreign bank in Russia, whose specialists will advise on the collection of the necessary documents;
- turn to the services of intermediary firms specializing in the opening of deposits by Russians in foreign banks.
Only after providing a package of documents, thorough verification and confirmation of the possibility of opening a deposit, both parties proceed to signing the contract. To do this, regardless of the chosen method of collecting documents, the client will need to personally visit the bank abroad.
What difficulties can you face
The first difficulties arise immediately when choosing a suitable banking institution for opening a deposit. In the wake of anti-Russian sanctions, some banks refuse to open deposits to citizens of Russia and Ukraine. Most credit institutions do not trust non-residents of the country, so you should be prepared for a thorough verification procedure and the need to provide a large list of mandatory documents.
Many banks require the personal presence of the client to open a deposit. Moreover, all documents must be filled out in a foreign language, and communication with a bank specialist will require, in most cases, knowledge of English. Due to this feature Russian depositor the help of a qualified translator is required, the payment for whose services is very significant today.
Most European banks allow you to open accounts with a minimum deposit amount of $ 10,000 to $ 25,000. Taking into account the high cost of maintaining a current account, it is recommended to conduct an analysis of the profitability of opening a deposit in advance. Specialists financial market talk about the unprofitability of investing in a foreign bank with a deposit of less than $ 50,000, since the cost of servicing the deposit in this case exceeds the amount of income received.
Most foreign banks impose a limit on the number of open deposits and the ability to replenish the account at any time, the amount of transfer and the number of financial transactions, the amount of the account balance. Abroad, it is not customary to withdraw large amounts from current accounts in cash. An attempt to withdraw even $ 10,000 can lead to account blocking due to the fact that the operation to withdraw a large amount of money seems credit institution suspicious.
Advantages and disadvantages
The indisputable advantage of foreign banks is considered to be a high degree of reliability and stability of the activities of credit institutions. When financial problems and the bankruptcy of a bank, the state assumes the responsibility to reimburse the lost amounts. In this case, the obligations are repaid in full or in the form of a rather impressive amount, which can be up to 100,000 rubles. In Russia, in the event of a bankruptcy of a credit institution, the depositor has the right to count only on the amount of 1.4 million rubles.
The disadvantages of opening a deposit in a foreign bank are:
- the ability to open a deposit only if you have invested enough large amount, the size of which reaches an average of $ 10,000;
- a significant payment for servicing the deposit, the amount of which can be up to $ 2,000 per year;
- low size interest rate and an insignificant amount of income on the deposit;
- lengthy process of registration and verification of documents, which can vary and take several months;
- a large volume of documents, control of the depositor by the tax services of a foreign state;
- the need for a personal visit to the bank when opening a deposit.
Opening a deposit in a foreign bank has a number of advantages and disadvantages, therefore, each depositor has the right to assess the profitability of such investments, taking into account personal preferences and wishes.
For many Russians who want to make money on their savings, the conditions of Russian banking organizations are not always suitable.
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Indeed, when registering a deposit in Russia, deposits are very easily devalued and in case of bankruptcy they are issued last.
Due to instability economic situation, Russians open deposits in foreign banks - abroad. But you need to know how interest is calculated on deposits abroad (abroad) in 2020.
Important information
Any citizen of Russia has the right to open a deposit in a foreign bank. In this regard, from a legislative point of view, there are no restrictions. But there are difficulties with the proposal.
In foreign banking organizations, although there are offers for non-residents of the country, the process of processing these deposits is very complicated.
Plus, there are certain rules for using deposits, which is not always beneficial for a depositor from Russia.
Basic concepts
Contribution is sum of money which the contributor places in banking organization thus making an investment in the development of the bank.
This happens under certain conditions, which are spelled out in the main document - the deposit agreement.
A depositor is a legal or individual, which places its funds in a banking organization to make a profit.
Interest rates are the remuneration that a depositor receives for his savings from a banking organization, expressed as a percentage of the amount provided for use.
The down payment is the amount of money that should be deposited immediately upon opening a deposit account with a bank.
A deposit account is an account to which a non-cash deposit amount is attached. Profitability is an indicator of the profit for a particular bank proposal in relation to the deposit.
Requirements for depositors
In order to place funds in a bank in another country, Russians need to understand that there will be an increased list of requirements for them.
In addition to the main indicator - the age of 18 years, banking institutions for non-resident depositors put forward one more, very important requirement.
The most important point is confirmation of the origin of funds that will be deposited in a bank account.
A non-resident should collect a huge package of documents that would speak about the transparency of these incomes.
Without compliance of this condition, it will not work to open a deposit in another country. Plus, a recommendation from subsidiary bank, which represents this banking organization in Russia.
Sometimes, only those who do business in that country can open an account in a country or in a separate banking institution.
Legal framework
Placement of deposits in foreign banks is permitted by the legislation of Russia. But there are limitations here.
Calculation features
When opening a deposit in a foreign bank, a number of calculations should be made. The fact is that the depositor needs to take into account the following deposit indicators:
- the cost of servicing the deposit;
- commission for the transfer of funds and their withdrawal;
- currency conversion cost;
- commission for early dissolution contract.
These factors can lead to the fact that even with a good starting amount, the investor will not only not receive benefits, but also lose his money.
It should be understood that the rates on deposits in foreign banks are quite low. Therefore, the preservation of funds plays a more important role here, rather than their increase.
Profitability in foreign banks will vary. It all depends on the country where the deposits are placed.
The maximum deposit ratio that can be counted on is 5 percentage points. It is worth calculating the income from the deposit taking into account all the costs of its maintenance.
Otherwise, such calculations will be unfair and with a real placement the depositor will lose a significant amount of money.
To count on the highest rates for your bets, you need to be regular customer jar.
For example, Cypriot banking organizations often offer their clients the registration of deposits at higher interest rates.
How to open a deposit abroad
In order to get a deposit account in another country, you need to perform a number of actions.
They will differ slightly from those that an individual investor carries out in Russia:
Select the country in which the deposit is made It is better to use those countries in which the reliability rating is A Choose the type of deposit and contact the banking organization This should be done in order to clarify all the rules for registering a deposit and specify the conditions. Contacts for such a connection - Email... It allows you to find out all the nuances in terms of deposit registration Collect a package of documents It will be significantly larger than for Russian banking institutions. Therefore, it is worth starting collecting papers in advance. Send all documents to the bank for verification and get a decision — If the banking institution has made a positive decision to open a deposit, a deposit agreement should be signed To do this, you must personally visit the bank in the country of its location - you can apply for a tourist visa. In the case of VIP clients, banks usually send their official representatives - clerks to sign papers After signing the agreement on the placement of the deposit, funds should be transferred to the account. This is done as Bank transaction, and by depositing cash.
The final step in this operation will be to notify the tax office about opening a deposit account in another country.
In this case, you should take the filling out of the papers seriously. In case of wrong compilation, tax office may issue a fine.
And for a delay in filing a notification, it increases several times. This requirement was put forward legislative acts back in 2015.
Conditions of foreign banks
To open a deposit in foreign banking organizations, it should be understood that they are small.
For comparison, you can use the most popular and reliable banking institutions:
Bank Deposit currency Interest rate,% per year Guarantees, % Bank of Cyprus (Cyprus) U.S. dollars 4,5 90, but not more than 20 thousand euros Citadele (Latvia) 3 100, but not more than 6 thousand lats BIGBANK (Latvia) 2,65 Edvard and Jones Vanguard Group (USA) 2,96 100, but not more than 100 thousand dollars Bank of London and the Middle East (UK) Pounds 2,8 ING Direct Italia (Italy) Euro 1,4 100, but not more than 103 thousand euros ING Belgium (Belgium) 1,25 ING DiBa (Germany) 1 Nordea (Sweden) Swedish crowns 1 100, but not more than 250 thousand Swedish kronor ABN AMRO (Netherlands) Euro 1 100, but not more than 20 thousand euros Postfinance (Switzerland) Swiss francs 0,15 100, but not more than 30 thousand Swiss francs This is the most profitable investment, in terms of the cost of servicing the deposit. Since most foreign banking organizations offer non-residents not the most convenient deposit programs.
List of documents you need
Each banking organization puts forward its requirements to the depositor, as well as the list of documents that are needed to open a deposit.
Therefore, before sending a package of papers, it is worth checking with a particular bank for a list of all the necessary documents.
This will reduce the risks of returning the package of papers and the need to send documents several times.
The standard documentary requirements contain the following positions for non-residents:
it General requirements to the documents. But sometimes additional documents may be needed:
- , should be taken in three years;
- recommendations from a subsidiary bank in Russia or from a client of this banking organization.
You can get an exact list of documents on the bank's website or ask them to send documents by e-mail.
In the event that a banking organization has a subsidiary in Russia, you can get a list of securities from them.
Are there any restrictions on interest deposits abroad
There are no restrictions on receiving interest on deposits in foreign banks. However, it should be understood that when making a deposit in another country, residents of Russia will have to pay income tax.
In accordance with the law, you will need to pay personal income tax at a rate of 13%. At the same time, provisions on 35% collection and deposits with 9% per annum are not taken into account.
The declaration must be filled in by yourself and submitted by April 30 of the year in which the income from the deposit was received. The tax itself must be paid by July 15th.
Potential risks
