What do you need to know for opening an account in the Russian bank

In order to open an account with a bank of the Russian Federation, it is necessary to provide a Certificate from the tax authority on registration. This is required by art. 86 of the Tax Code of the Russian Federation. This requirement must be met by all foreign organizations that do not have their own departments or branches in Russia.

Accounting for the above-mentioned organizations that opened accounts with Russian banks in state tax authorities is based on section VII of the Order of the Ministry of Finance of the Russian Federation of September 30, 2010 (No. 117n). Thus, foreign organizations should be registered in accordance with the place of registration of the bank. It refers to a financial institution in which an account is opened (in rubles or foreign currency). In Moscow, this is the Interdistrict Inspectorate of the Federal Tax Service No. 50 in Moscow city.

FCC is not assigned to foreign organizations when registering now. A certificate of registration with a tax authority is issued. Also, TIN is assigned.

Further, to open an account of this organization in any bank located in the territorial allegiance to the same tax authority, no additional registration is required.

In another case, the organization will have to register with the new tax authority.

Documents required for registration

Here is the list of required documents that a foreign legal entity must provide:

1. Power of attorney issued in the name of an individual with the right of substitution. This requires passport data. This person receives from the organization the right to represent its interests with regard to registration, filing of documents, their signature.
2. Decision on the appointment of the Director, issued by the authorized body.
3. Registration certificate, extract from the trade register.
4. Constituent documents ( including the address of the organization).
5. Document that confirms the legal status of the founder. This may be an extract from the register of legal entities or another document of appropriate force issued in the country of origin.
6. Certificate of registration of the organization as a taxpayer issued by the relevant authority of the country of origin. The certificate indicates the code of the taxpayer and it is considered valid for 3 months from the date of issue.

The documents specified in paragraphs 1 to 4 are subject to legalization by consular offices in both countries. A notarized translation into Russian is also required.

For some signatory countries of the Hague Convention, Apostille must be provided.

When filling out the relevant forms, it is necessary to provide information on the full company name, address, TIN and TRC/KPP chosen for opening an account with the bank of the Russian Federation. You also need to specify the account types and currency.