WIRE TRANSFERS AND CAPITAL FLOW
Free capital flow and payments are unrestricted for overseas investors in Russia and guaranteed by the law. Foreign investors may unstintingly transfer money earned in Russia to overseas accounts if the currency regulations are complied with and all applicable taxes are paid.
Any cash amount equivalent to no more than USD 10 000 may be exported from Russia; otherwise it is subject to declaration.
The Central Bank of the Russian Federation (Bank of Russia):
- established payment and bank transaction rules;
- organizes and exercises foreign exchange regulation and foreign exchange control in accordance with the applicable legislation;
- supervises over the activities of credit organizations and groups.
Settlements between legal entities (organizations).
Settlements between enterprises (legal entities, individual entrepreneurs) and individuals.
Settlements between individuals.
There exists an extensive network of internal and external wire transfer systems in Russia with 100 banking and non-banking money transfer providers (a full list is available at www.cbr.ru).
Wire transfers may be made in various currencies including RUB, USD and Euro; there may be cash and non-cash payment orders.