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Operating · 09

Currency control in Russia

Currency-control compliance and account notifications.

Currency-control compliance for companies and individuals with cross-border flows — foreign-account notifications, transaction reporting and repatriation review under Russia’s currency-control regime, kept current as the rules change.

Chinese companiesUAE investorsTurkish groupsIndian companiesEU subsidiaries
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At a glance
ScenarioOperating in Russia
Applies toCompanies · Individuals
LeadCompliance adviser

Overview

Russia’s currency-control regime reaches both companies and individuals with cross-border flows, and it has changed repeatedly in recent years. Residents must notify foreign bank and brokerage accounts, report certain transactions, and observe repatriation requirements — with penalties applied per breach. The difficulty is less any single rule than keeping current as the rules move.

We assess what applies to your situation, prepare and file the notifications and reports, and review historical exposure where a gap may have opened. For companies, this sits alongside tax and legal compliance; for individuals, alongside personal tax and CFC obligations. Either way we keep it under an annual review so nothing lapses.

What's included

Foreign account notifications
Currency-control transaction reporting
Cross-border payment compliance Read insights: Cross-border
Repatriation requirement review
Penalty and exposure assessment
Ongoing monitoring of rule changes

Typical situations we handle

You hold foreign bank or brokerage accounts and must notify the authorities.

Cross-border payments need to comply with currency-control rules.

A possible reporting gap needs to be assessed and regularised.

+ how we work

A clear, coordinated process

01
Assessment

Identify accounts and flows that must be notified.

02
Notifications

File foreign-account and transaction notices.

03
Payments review

Confirm cross-border payments comply with the rules.

04
Annual review

Keep the position current as the regime changes.

+ in-house vs outsourced

Building it in-house, or outsourcing to us

Factor
In-house
With TaxWell
Russian expertise
Depends on hire
Big Four background team
1C configuration
Separate cost
Included
FTS audit representation
Additional legal fee
Included in engagement
Languages
Usually Russian only
EN · RU · 中文 · Türkçe
Scalability
Fixed headcount
Scales with volume
+ questions

Frequently asked

Who must file currency-control notifications?

Russian residents — companies and individuals — generally must notify foreign accounts and certain flows. We assess what applies to you and file it.

What are the penalties for non-compliance?

Penalties can be significant and are applied per breach, which is why an annual review and timely filing matter.

Do the rules change often?

Yes — the regime has changed repeatedly in recent years, so we monitor it and keep your position current.

From our insights

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3-NDFL tax return in Russia: complete guide for foreign individuals
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Accounting Outsourcing in Russia: Practical
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Accounting in Russia: RAS rules and mandatory reporting for foreign companies
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Accounting in Russia: RAS Reporting Rules for Foreign Companies

Other expertise

01
Tax & compliance
03
Legal & corporate
12
Tax residency
We work with
Chinese companiesUAE & Turkish subsidiariesIndian companiesEU companiesInternational groups
We work in
EnglishRussian中文Türkçe
+ what happens when you contact us
01
You send us a question

By email, WhatsApp, Telegram or WeChat. Describe your situation briefly — we don’t need everything upfront.

02
We respond within 24 hours

A named adviser replies — not a generic inbox. We confirm whether we can help and propose a call if needed.

03
30-minute intro call

We ask about your situation, Russian entity structure and what you need. No charge. In English, Russian or Chinese.

04
Engagement letter

Clear scope, fee and timeline. We start on receipt of the signed letter. No retainer lock-in on project work.

Speak to a senior adviser about Currency control

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Insights
3-NDFL tax return in Russia: complete guide for foreign individualsAccounting Outsourcing in Russia: PracticalAccounting in Russia: RAS rules and mandatory reporting for foreign companies All articles →
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