All companies planning to operate in the Russian Federation must open a Russian bank account in Russian currency, i.e. in rubles. All payments between Russian entities within the country’s territory are executed exclusively in rubles, even if contracts and invoices contain payment in foreign currency.
Ausserer & Consultants provides full support to international companies in Russia with the opening and management of their Russian corporate bank accounts.
Before an international company can open a bank account in Russia, it must register with the Russian tax authority and receive a tax registration certificate.
The registration process at the tax office takes 5 working days from the submission of the application and the required documents. After the process is finalized, the account at a Russian bank can be opened.
The time needed to open a bank account varies from bank to bank, but usually ranges from two weeks to a maximum of four weeks.