Opening a Russian bank account gates everything else for a new foreign-owned company — what banks ask for, how long it takes, and how to avoid delays.
For a foreign-owned Russian LLC, the bank account is the bottleneck: charter capital cannot be deposited and the company cannot transact until it is open. It is also the step most exposed to delay, because banks run their own compliance on foreign ownership. Knowing what they will ask for, and preparing it, is what keeps the timeline short.
Incorporation gives you a legal entity, but not a functioning one. Payroll, supplier payments and customer receipts all depend on the settlement account. Because bank onboarding runs on the bank's timetable, not yours, it should start the moment the company is registered and proceed in parallel with tax and payroll setup.
Expect thorough know-your-customer (KYC) checks on the company and, importantly, on its beneficial owners. Banks typically want the corporate documents, the ownership chain up to the ultimate beneficial owners, identification for signatories, and clarity on the business model and expected flows.
Corporate registration documents (INN, OGRN, charter)
Ownership structure up to ultimate beneficial owners
Identification for directors and authorised signatories
A clear description of the business and expected turnover
Onboarding a foreign-owned entity commonly takes longer than a domestic one because of the additional beneficial-ownership review. Starting early and presenting a complete, consistent package up front is the single biggest lever on speed — incomplete or contradictory documents are the usual cause of delay.
Once open, charter capital is deposited and the company can transact. Cross-border flows then bring currency-control rules into play — notifications and contract documentation — which should be built into the payment process from the first transaction rather than retrofitted later.
It varies by bank and is typically longer for a foreign-owned entity because of beneficial-ownership checks. Starting immediately after registration and submitting a complete package up front is the main way to keep it short.
Corporate registration documents, the ownership structure up to ultimate beneficial owners, identification for signatories, and a clear description of the business and expected flows.
No. Charter capital is deposited into the company account once it is open, which is one reason banking sits on the critical path for a new company.
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