How to open an account in a foreign bank - the procedure for registration, a list of required documents, recommendations. Deposits abroad Deposits in banks abroad

Do you have good money savings and want to be calm about your money? The question of what to do in order to secure your savings and get some profit from it is very relevant today. Studying a lot of different information on this issue, sooner or later you come to the conclusion that the best solution is foreign banks and the rejection of deposits in domestic ones.

True, there is one very significant problem: it is not easy to open an account in a foreign bank while in Russia. You need to go to the country where you want to open a deposit. Of course, at this point you can stop and remember the many foreign banks that operate in the territory of the Russian Federation. But all of them are officially Russian banks. Such branches can issue you a certificate stating that you are a full-fledged client of this bank located on the territory of the Russian Federation. But opening an account through them will not work.

Fortunately, there is a lot of work in the banking services market law firms who are happy to provide intermediary services in opening a deposit in a foreign bank. But working with such firms is usually not cheap, because they are focused, first of all, on a wealthy clientele. But they can quickly collect all the required documents, draw them up correctly, and send them to the desired bank. Are there any guarantees that opening a deposit abroad is more profitable than in a Russian bank?
This is a very good question.

Every citizen Russian Federation the right to open foreign accounts without intermediaries. Just contact the branch of the bank you are interested in. Our laws do not at all prohibit opening accounts abroad, but such deposits can only help you save money. Also it will be necessary to notify the tax service of the Russian Federation about the opening of such a deposit without fail. So far, the prospects seem very vague.

Pay attention to a few important points

Firstly, no foreign bank is eager to attract clients from the Russian Federation. There are even many foreign banks that refuse to work with Russian depositors. The same banks that are willing to cooperate, as if on purpose, demand a bunch of additional, in fact, unnecessary documents and papers. At the same time, they can easily reserve the full right to examine your financial receipts for “cleanliness” at any time.

Secondly, the amounts for the minimum deposit in foreign banks are usually much higher than in domestic ones. All banks have the right to set their own rates, but it is hard to find less than 10 thousand dollars as a minimum contribution. For example, Swiss banks indicate this figure in the range of 250,000-500,000 dollars.

And finally, the third important point. It is about profit. Remember that by investing in a foreign bank, you will not make a profit and increase your investment. The only service that a foreign bank can offer to a resident of the Russian Federation is the preservation of your capital. Of course, you can count on a percentage, but it is much lower than in Russia, and the amount for opening and maintaining your account can reach 2 thousand USD. in a year. That is why small investments in this case are stupidity.

Reliability

All of the above at once discourages the desire to open a deposit in a foreign bank. But, on the other hand, after all, this should be beneficial to someone, right? What generally attracts citizens of the Russian Federation in foreign banks? Of course, high reliability of saving deposits. But despite the general opinion about the increased security of foreign banks, risks take place always and everywhere. A deposit abroad is beneficial if you want to save really big money, because in our country, in the event of an unforeseen situation, the state guarantees the return of only 700 thousand rubles.

This is the size of the insured amount under the deposit insurance system. Also, a foreign deposit will be very useful for those who often make purchases abroad. It could also be tuition fees or real estate purchases. There are many options. As for minor financial expenses related to business trips or small purchases, the convenience of a deposit in a foreign bank will not cover the cost of maintaining it.

Confidentiality

This is also a very controversial statement, because absolute confidentiality cannot be guaranteed by any bank in the world. Although, Swiss and Austrian banks still hold the first place in the world according to this criterion. According to statistics, most often residents of the Russian Federation open bank accounts in Switzerland, Austria, Cyprus and Luxembourg. Cypriot banks are the most loyal towards our compatriots. The minimum deposits here are much lower than in the rest of Europe. The same applies to the Baltic countries.

Banks of both the first and second ones have their representative offices in Russia, although they do not have the right to engage in financial transactions, but they can help open an account in their country. To do this, it is enough to go through a completely standard procedure: fill in all the required documents, which will then be sent to the main branch of the bank. There, your application will be reviewed and a decision will be made. If it is positive, the bank will open an account in your name. In addition to the above banks, I cooperate with the citizens of the Russian Federation from banks in Hungary, Denmark and Germany. And UK banks are not very happy with us.

Summing up, I would like to emphasize once again that opening an account in a foreign bank is, first of all, a way to save money, but not an investment.

Customer Reviews

It makes sense to invest only large amounts of money in foreign banks, otherwise it is just an additional hassle (our compatriots are not particularly favored there, often refusing services or introducing additional checks). Interest, compared with Russian banks, is very small. But, of course, we invest there not because of interest, but for the sake of saving our money.

In foreign banks, the rate of 5% is even rare, usually 3-4%. Pluses - reliability, but we also have a deposit insurance system up to 700k. (and open an account for relatives and in different banks, so the limit will rise to 10 million ...), but what's the point of so much red tape for the sake of such small percentages?

I believe that this is relevant only for large oligarchs who are afraid to keep money in Russia for their own safety.

Why is there such a strange attitude towards the citizens of the Russian Federation? What is it - contempt or suspicion? After all, the task of the bank is to attract a client. What does it matter to him where they come from.

For many Russians, deposits abroad are all such inaccessible, and whoever has such an opportunity, it is best to open deposits in Switzerland, England, the Caribbean, the USA .. What are the advantages of these banks - reliability, prestige, compensation is much more than in Russian banks and foreign banks are better protected from the crisis. Cons - a very laborious process and will take a lot of time. Banks abroad check clients for a long time, the minimum deposit should be more than 400,000 rubles, you will be required to provide a lot of different certificates, because clients of foreign banks are under the control of tax Russia, when opening an account, the client must be present personally, almost none of the prestigious banks work in absentia.

I think this attitude of foreign banks is not accidental, the reputation of the money invested by clients from the Russian Federation is very doubtful, and banks with a good reputation do not want to have problems, which is why such a careful selection and verification of documents.

What does a dubious reputation mean? Do you want to say that the majority of citizens of the Russian Federation who have a desire to open bank accounts in Europe and the world received their money illegally? But there are honest entrepreneurs in Russia who want to protect their savings and a foreign bank can check the sources of income?

Personally, my opinion: even with significant amounts of contribution, the game is not worth the candle. You can save money with the same success in Sberbank, with which nothing will happen in 99.9% of cases. Withdrawing money abroad, and then returning it, is always fraught with additional costs and checks and “doubts” that are completely unnecessary for the depositor. In addition, everywhere (or almost everywhere) in the world, Russia is considered a “country of bandits”, and this will negatively affect the attitude towards you as a depositor!

Ostrovitjanin, And what do we have to do with it as contributors. Still, the banks need our money, for which they receive their interest. So that they will receive a commission, but they do not care what your citizenship is.

I believe that at the moment, when opening a deposit in a foreign bank, there are more minuses than pluses. Troublesome, costly, minimum income on the deposit. Yes, and hide dishonestly earned money (and basically such funds are withdrawn) in any foreign bank is quite problematic.

People invest in foreign banks because of their high reliability and their distrust of domestic banking organizations. Moreover, they invest wanting to simply save, and not increase, because the interest rate is much lower than what we offer. And if you are some kind of major criminal, then God himself ordered you to hide money from the state precisely in accounts in foreign banks, where it will be extremely problematic to get to them.

The main advantage of most foreign banks is reliability, the main disadvantage is the low interest rate. Although, in view of the sanctions, I think, for some segments of Russian society, the “plus” was not viable, but this is unlikely to apply to ordinary citizens.

Well, personally, in my opinion, a deposit in a foreign bank has one big plus - the benefit. After all, at least there are countries in which taxes are less than ours or they are completely absent, therefore, if you choose a bank in this country, you can earn much more than in Russia. And foreign currency is more reliable than ours.

I was surprised to learn that the Russians began to store dollars in the Republic of Belarus. There are several subsidiaries of our Russian banks that provide Better conditions for investors. This is a higher interest on deposits, and insurance of the entire amount.

Yes, ordinary citizens have nothing to do in foreign banks, that's for sure. Only if you save your money, but not everyone has millions. Therefore, for an ordinary average citizen of Russia, this is not particularly beneficial or not beneficial at all. He wouldn’t put two hundred thousand rubles in such a bank, what’s the point?

Nastasya13

Yes, I saw Sberbank and VTB there. I didn’t have time to find out the conditions, but a friend of Belarus told me that these banks are not related to Russian banks with the same name. Strange.

Dioneya, Hmm, really, it’s somehow strange, probably these are completely different banks, just the names are the same, or they still have something to do with our domestic banks, I would also be surprised, I was in other countries and there are no banks I haven't even seen one like ours.

Nastasya13

It is absolutely pointless and costly for ordinary citizens to open deposits abroad. But this can be very useful for large businessmen, since the safety of money there can be ensured more reliably than with us. But again, I think it is necessary to open a deposit in a foreign bank when a person periodically visits the country in which the bank is registered.

Many of my friends now prefer to invest in foreign banks, especially Swiss ones, the most reliable, as they say. But there, indeed, the initial deposit amount will be more than in our banks.

After simplifying the procedure for opening accounts abroad, given the instability of the Russian economy, our compatriots became actively interested in the possibility of transferring part of their funds to foreign banks. The procedure for opening an account with a foreign financial institution is quite complicated. A number of questions arise: in which country can you open accounts, how to choose a bank, how to transfer funds, what documents will foreign financiers require, and, finally, how reliable is such an allocation of funds? We will try to answer all questions in this article.

Avoiding misunderstandings

Many Russians mistakenly believe that branches (representative offices) of foreign banks can be found in Russia. In most cases, Russian bankers are guilty of this delusion of the population, who actively advertise the belonging of their organization to an international group. In fact, foreign banks do not operate on the territory of the Russian Federation. Turning, for example, to Raiffeisenbank, you turn to a subsidiary of an Austrian financial group, whose activities are regulated by the Central Bank on the basis of a license issued by it and Russian legislation. Consequently, you will not protect yourself from political and so-called “country” risks. Subsidiaries cannot match their “mothers” in terms of reliability, and in order to open an account with a foreign bank, as a rule, it is necessary to visit the country in which its head office is located (for example, Austria, in the case of Raiffeisen Zentralbank).

Can a Russian open an account abroad: the legal basis

Ten years ago, in order to open an account abroad, a Russian citizen permanently residing in the territory of the Russian Federation required a special permit from the Central Bank, which was very difficult to obtain. Now the procedure has been greatly simplified. the federal law"On currency regulation and currency control" (Article 12, paragraph 1.) allows all residents of the country to open foreign currency accounts without restrictions in banks located outside the territory of the Russian Federation. However, some categories of citizens still will not be able to become depositors of foreign banks - complete list categories is specified in Law No. 79-FZ "On the prohibition of certain categories of persons to open and have accounts (deposits), keep cash and valuables in foreign banks located outside the territory of the Russian Federation" dated May 7, 2013.

We will tell you more about how the opening of accounts is carried out in practice.

Procedure for opening accounts in foreign banks

A personal account in a foreign bank can only be opened for savings, private investment and subsequent expenses: it is prohibited to use the account for business activities. The procedure for making a deposit usually takes from 1 week to several months. In this case, you can choose 1 of 2 paths:

1. Personally come to the country and visit the bank, taking with you the necessary package of documents and filling out the registration forms on foreign language. The bank will check all the data and then inform the foreigner about the possibility / impossibility of opening an account.
2. Contact intermediaries. There are many companies that, for a fee (ranging from $200 to $12,000), will help you open an account abroad. To work with intermediaries, a potential contributor will need to provide certified samples of his signature. You can certify the signature either at the consulate of the state in which the bank is located, or at a subsidiary bank located in Russia (if one exists).

It is important to note that some banks refuse to open accounts if they do not communicate with the client at least by phone (Credit Suisse) or do not hold a meeting in Moscow (Deutsche bank, International Bank of Luxembourg, LGT bank). Raiffeisen Zentralbank insists on an interview with a bank representative and the provision of 2 letters of recommendation from foreign partners of a private depositor.

The most complicated procedure for opening an account is used by English banks. A foreigner may be required to provide a lot of additional documents, for example, a recommendation on trustworthiness issued by a Russian bank; paid utility bills, in which the actual address and surname of the contributor will be recorded; a letter of recommendation from an employer, etc.

You can replenish an account opened with a foreign bank either in cash or by bank transfer. A non-cash transfer is not possible without providing a domestic bank with a notice of opening an account in a foreign bank with a mark from the tax inspectorate and a certificate of tax registration. When replenishing an account in cash, in a foreign bank you will be asked to provide documents confirming the legal origin of the currency.

You can manage an account in a foreign bank by:

• courier mail;
• facsimile communication;
• Internet banking;
• bank card;
• checkbook.

Banks protect the funds of their depositors by inventing special codes, ciphers and creating dedicated, secure communication channels.

We see that the process of opening accounts abroad cannot be called simple. Next, we will tell you what you should pay attention to when choosing a bank, and what package of documents may be required.

The minimum list of documents for opening an account in a foreign bank

When choosing a foreign bank, first of all, you need to find out how the deposit insurance system works in the country that you are interested in: the principles of operation of these systems are the same all over the world, but the sums insured can vary significantly. You should also clarify what documents the bank will require to open an account (you need to choose the credit institution whose requirements you can fulfill). As a rule, the minimum list includes:

• certificate of income for 6-12 months, certified by the tax office.
• notarized copies of the passports of the depositor and his wife (spouse).
• information about the composition of the family.
• utility bills.
• a certificate from the police stating that the citizen of the Russian Federation has no criminal record and is not under investigation.

If you have an open account in the Russian "daughter" of a foreign bank, you can contact the manager of this institution with a request to help in opening an account: the existing links between the parent and subsidiary will help speed up the process. A manager of the Private banking segment can help with opening a deposit: he will not only recommend a reliable bank, but also tell you what documents should be prepared. His services will not need to be paid, and at the same time he will be able to provide you with comprehensive advice.

Please note that the minimum deposit amount and the minimum balance on it, set by European and US banks for foreigners, is 50-300 thousand euros (US dollars). However, in offshore and Baltic banks, you can open a deposit in the amount of 100-200 euros (US dollars). In addition, we suggest that you familiarize yourself with the average interest rates in foreign banks.

And in conclusion, we want to mention one feature of owning an account in a foreign bank - in accordance with paragraph 2 of Art. 12 of the Federal Law "On currency regulation and currency control", each citizen of the Russian Federation must notify within a month tax authorities at the place of its registration on opening accounts in banks located outside the territory of the Russian Federation. At the end of each year, you will have to provide information about the balances on such accounts to the tax office. For violation of the norm of the law, a fine of up to 5,000 rubles is provided.

Once upon a time, only wealthy Russians turned to deposits in foreign banks, who wanted to hide their money from taxes or protect them from various economic risks inherent in Russia.

Today, due to certain instability in the banking sector, opening a deposit in a foreign bank abroad is a practical solution for any person with a capital of $50,000 or more.

In addition, many of our fellow citizens now have business relations with foreign companies, acquire property abroad or pay for the education of their children, and therefore it will also be very convenient for them to keep part of their savings in an account in a foreign bank.

Deposits in foreign banks have a number of advantages and disadvantages in comparison with domestic organizations. The benefits include:

• maximum level of reliability. Swiss banks are especially famous for this;
• in the event of bankruptcy, the depositor is compensated for the entire amount of the deposit, while in Russia only part of the deposit can be reimbursed.

But there are also negative points:

• expensive service;
• high threshold for the minimum deposit amount. In most cases, it starts from 15 thousand dollars;
• small interest rates unlike Russian banks;
• an extensive list of documents that will need to be provided. The reason for this is the strict control of the depositor by the tax office;
• The registration process takes quite a long time. On average, from one week to several months;
• the need for personal presence during the conclusion of the agreement, which will lead to additional costs for traveling abroad.

Do not forget that in every developed European state there are measures that prevent the legalization of funds obtained in a criminal way.

Therefore, any potential investor is checked in detail for reliability.

Another feature is the indexed deposit, which is now widespread in the west. It is a symbiosis of a classic deposit and alternative investment methods, such as the purchase of precious metals or securities.

Investing in this way, you can not be afraid of losing your money, and with successful changes in the market, even raise interest rates.

Ways to open a deposit in foreign banks

First of all, the future client is subjected to a thorough and comprehensive check, in particular the legitimacy of his income. If the legality of the funds is not in doubt, then the bank offers to conclude an agreement on opening an account.

To do this, a foreign company will require not only the usual passport and application, but also a number of other documents. As a rule, they include:

• a notarized copy of the international passport, including spouse;
• information about the composition of the family. It indicates information about family members registered in one residential area, indicating their place of residence;
• utility bill received in the name of the contributor. This is necessary to confirm the place of residence indicated in the application;
• a certificate confirming the indicated amount of income for the last few years with the seal of the tax service;
• a certificate certifying the absence of a criminal record;
• other securities depending on the decision of the bank.

After the necessary documents are prepared, you can proceed to the conclusion of the contract. In this situation, there are several options for action.

Do business on your own first. A potential depositor sends a package of documents by mail or fax, and after notification of a positive response, personally visits a bank office in another country, signing an agreement.

Secondly, cooperation with a financial institution through its representative offices in Russia. Such a branch will help to prepare a list required documents, which will later be sent to the main branch. But, as in the first case, for the final conclusion of the contract, you will have to go abroad.

Thirdly, contact the company providing intermediary services. Today, there are a huge number of firms that are engaged in opening bank accounts abroad. The place of signing the agreement may depend on the specifics of the arrangements of such an organization with the bank.

It is important to remember that after the conclusion of the contract, the client must notify the tax office about opening an account within the next month. If this is not done, he may face a fine of up to five thousand rubles and a ban on transferring funds to a foreign account.

You can replenish a foreign account in any of the possible ways, but it is more convenient to do it in a non-cash way.

Interest rates

According to experts, the main reason for opening a foreign deposit is precisely to save capital, and not to increase it. After all, rates in foreign banks are significantly lower than interest on deposits offered by domestic companies.

In particular, the highest rates in such Russian financial institutions as Uralsib or Trust reach 9 percent, while foreign ones can boast only 3-4 percent on average. The most favorable conditions for opening deposits are provided by banks in the following countries:

1. The first place is undoubtedly occupied by the financial companies of Cyprus. In such banks as the Bank of Cyprus, National Bank of Greece, The Cyprus Development Bank and Housing Finance Corporation, the deposit rate is 4-5 percent per year. Some offers reach 7 percent per annum.
2. On the second line in terms of profitability are Latvian banks. For example, Aizkraukles, Baltikums Bank or Citadele offer 2 to 3 percent per year. Accounts can be opened not only in dollars, but also in euros.
3. The United States of America, represented by Citibank, JPMorgan Chase Bank and HSBC Free Union, is next, providing 2.95 percent per annum on deposits in their branches.
4. Standard Chartered PLC, located in England, is ready to open an account in pounds sterling at 2.7 percent per annum.
5. The Italian Intesa Sanpaolo makes it possible to host a deposit at 1.5 percent in euros.
6. Banks of such European countries as Switzerland, France, Belgium, Germany and some others also have quite favorable conditions. Rates there range from 1 to 1.3 percent per annum.

In addition, in the West there is a practice when banks assign a much lower percentage to residents than to citizens of their state. Therefore, before making an investment, you should carefully read the specifics of opening a deposit in a particular financial institution.

Conclusion

So, deposits abroad are an excellent option for saving your funds in this difficult time from the point of view of the economic situation. They will allow you to save, and in some cases increase your cash savings.

For those who have a business, real estate or other financial transactions abroad, a bank account becomes a real necessity. However, despite these advantages, the choice of a bank should be approached with all responsibility, based on one's desires and capabilities.

Russian legislation does not prohibit citizens of the Russian Federation from opening accounts and deposits in foreign banks, although this was not always the case. In the West, private investors are attracted not so much by the accumulative conditions of investments abroad, but by the opportunity to diversify their funds by placing them in depositories with different levels reliability. In this sense, Swiss banks have certainly always been leaders in the safekeeping of money and bank secrecy. Although, according to statistics, Russians are no less interested in other European financial institutions, for example, in Cyprus and even in the Baltic countries.

Who needs a bank deposit abroad?

The reason for the attention to foreign accounts is not only following the adage "don't keep your eggs in one basket." A lot of our fellow citizens do business with foreign partners, buy real estate abroad, send their children to study in educational institutions, and they themselves are often in different countries. It is quite natural that it is convenient for such people to keep part of their savings in foreign bank accounts.

We will not compare the degree of reliability of foreign investments. This is all the more difficult to do in our time of a series of economic crises affecting the entire world economy and even financial conglomerates with a long and impeccable history. We only propose to consider the question of how a Russian citizen can open a bank deposit abroad and how profitable it is.

It turns out that this process is not so simple. The easiest way to open a foreign deposit is to a person who has a residence permit in the country where the selected bank is located, especially if the person works in a foreign company. There are no problems with bank accounts and students studying in the West. Banks make decisions much faster on the applications of businessmen conducting open and legal business with Western partners. But for other Russians who are trying to conclude an agreement with a bank abroad, the procedure is often delayed for a long time. Some of them find it strange not only the long verification of documents, but also the very set of necessary papers.

Features of opening a foreign deposit

Let us note that each state with a developed economy has its own “anti-money laundering” law that prevents the legalization of proceeds from crime. And it's not even that citizens from Russia, with its high corruption component and shadow economy, are treated more suspiciously than any other European. It's just that the bank must check each of its new clients for reliability, and its source of income for legality. A serious credit institution must be sure of the "purity" of any money that comes into their accounts. In this sense, it is much more difficult to verify a Russian and the source of his funds than a Westerner. Moreover, a sufficiently high threshold for the first deposit in a self-respecting bank weeds out citizens with low and even average earnings in Russia. Most Russians who want to open a deposit in the West are people with high and very high incomes. Rarely, one of them is a simple employee with a "transparent" salary.

Therefore, the package of documents for opening an account abroad, in addition to the application and the depositor's questionnaire, sometimes includes quite exotic certificates that no one in our banks requires in order to conclude a simple deposit agreement. Of which income statement individual over the past few years, certified by the tax office, seems to be the easiest. Of the necessary, we list notarized copies of the internal and foreign passports, sometimes not only of the depositor, but also of his spouse. They may also require information about the absence of problems with the police, family composition. In confirmation of residence at the specified address, they are sometimes asked to attach a utility bill issued in the name of the contributor.

In the process of collecting the necessary papers, the principle can be traced - the higher the amount of the deposit, the more documents a serious bank asks for. Especially if the savings exceed the face value of 100 thousand US dollars. You can try to explain the origin of smaller amounts in simple writing. If the potential client is a businessman, then you need Additional Information about the business and the legal origin of the funds. Recommendations from Western business partners or other clients of the same bank are welcome. It is good to have a bank account in the Russian "daughter" of a well-known foreign bank, whose favorable response can positively affect the image of a citizen.

As you understand, it is impossible to quickly check such a number of documents. Therefore, the procedure is sometimes delayed for several weeks. Although, for example, Cypriot financial institutions and their offshore counterparts are easier to collect information. An employee of one of the consulting companies claims that if the check has dragged on for more than a month and more and more supporting documents are being asked from a potential investor, then one should not hope that the process will end with a positive decision. It is not customary for Western banks to directly refuse an applicant. Rather, the person himself will refuse to continue further meaningless correspondence. This is how an attempt to open a deposit with large Russian officials and his close relatives, who are considered foreign public figures with a high degree the likelihood that they are close to corruption.

How to open a deposit abroad?

But if the source of income of a foreigner does not arouse suspicion and can be quite simply confirmed and verified, then the expectations will eventually end with an offer to sign a bank account agreement with the bank. There are several ways to apply for opening a deposit abroad and sign an agreement in the future for a Russian citizen.

First, independently and remotely from Russia. This method is not always the cheapest and not the fact that the fastest and easiest. Because not every person is able to understand the peculiarities of the legislation of a foreign country and the requirements of a foreign institution. Although any bank is quite willing to enter into correspondence, both fax and electronic. Correctly certified documents can be sent by mail, some of them can be faxed or scanned online. But the citizen will need to sign the final agreement personally in the country where the bank is located after obtaining consent. And these are additional expenses for the trip, which are not always paid off with interest on the deposit.

The second way is communication through the official representative offices of banks in Russia, which are few in Moscow. These usually do not conduct financial affairs with clients, but help them collect and send a package of documents. For more affluent depositors, meetings are scheduled in Russia to sign an agreement with a bank employee who specially comes from abroad.

The third method assumes that the potential depositor is a user of the private services of a Russian bank that has connections with partners abroad. For VIP clients, the domestic bank organizes the process of opening a Western account, taking on the organizational side of the issue. But a citizen will be able to sign an agreement only by personally meeting with a representative of a foreign bank. This will happen either on the territory of another state or a bank clerk will come to Russia. As you understand, the service is available only to very wealthy people who are able to deposit more than a million dollars in a foreign bank.

There is another possibility to open a deposit. If a citizen can entrust his financial affairs to a consulting company, then there are several of them in Moscow that specialize in opening accounts for Russians abroad. These usually have already established connections with various foreign credit institutions. Therefore, consultants will not only help you choose a country, bank and acceptable conditions for opening a deposit, but also speed up the process of collecting documents, and even help you find a guarantor in the West if necessary. Such services can cost up to 1000 euros depending on the bank. The territory of signing the agreement also depends on it. Some agree to the fax version with mail forwarding.

After concluding an account agreement, a citizen of the Russian Federation should not forget about compliance with certain norms of the law. The Russian is obliged to notify the tax office within a month of the existence of a bank account abroad. Violation threatens not only with a fine of up to 5,000 rubles, but also with the refusal of a Russian bank to transfer money there. It is most likely to replenish a foreign deposit by bank transfer from your account in your home country. It is unlikely that you will be able to do this in cash. Moreover, it is impossible to deposit cash in a serious financial institution such as a Swiss bank.

Foreign banks and terms of contracts

We do not undertake to judge why our people open deposits abroad, but most experts agree that it is more for the sake of saving funds than for increasing them. After all, rates in foreign banks are much lower than the interest on deposits in ours. Judge for yourself, our highest rates reach up to 8 per annum on euro and US dollar accounts in not the largest institutions. Although the interest rate is very different for different deposits, even in banks from the TOP-20. For example, Promsvyazbank offers deposit products in dollars at 4.2% -7.5%. His colleague Sberbank is already offering 3.4% -4.15% per annum. Considering that it is charged on very large amounts or in not the most rated banks, let's compare these figures with foreign deposit rates:

Swiss Union Bank of Switzerland and Deutsche Bank - up to 3%,
Austrian Raiffeisen Zentralbank Osterreich and Valartis Bank - up to 3%,
Norwegian Nordea Bank Danmark - up to 4%,
Cypriot Marfin Bank - up to 4.5%,
Cypriot Bank of Cyprus - up to 6%,
Latvian ABLV Bank, AS - up to 6.8%,
Latvian Rietumu Bank - up to 8%.

Some large banks set lower interest rates for non-residents than for citizens of their country. In the West, the so-called indexed deposits with higher interest are more common, which we usually refer to as structural products. Such deposits involve investing part of the funds in securities.

If we take into account the expensive tariffs for opening and maintaining an account (which is almost never found in Russian banks for deposits), that the interest for converting and withdrawing cash is commensurate with the deposit interest, an expensive transfer to another account, then the question of the profitability of a deposit of up to 50 thousand dollars , in our opinion, disappears by itself. Although most rating banks do not accept a smaller amount from foreigners. In this sense, the offshore and Baltic financial institutions are perhaps the exception, in which the investment threshold either does not exist at all, or starts from 100 dollars / euro.

Please note that some Russian banks have subsidiaries abroad. But the deposit rates at the same Cyprus branch of Promsvyazbank are much lower than in Russia. Although, it is much easier for a Russian to open a deposit in this institution. Note that it is almost impossible for a citizen of the Russian Federation to open a bank account in the UK without permanent residence in this country.

Regarding the deposit insurance system, let's say that in the EU countries it exists similarly to ours. But each state has its own sum insured and the procedure for its payment upon the occurrence of an insured event.

Keeping money in a foreign bank– an option on how to protect your funds from the surprises of the domestic economy.

The main purpose of a deposit abroad is the reliable preservation of funds. Rates abroad are low, mostly 1-2%, and only in some places - up to 5%. Western financial institutions have strict conditions for early termination of deposits, as well as high taxes on interest.

Many set a high threshold for depositing funds (especially in Switzerland) - 10-25 thousand euros. The minimum guarantee amount (payment of compensation to the depositor in the event of bankruptcy) according to EU standards is at least 20,000 euros. In some countries it reaches 100,000 euros, for example, in Lithuania. Placing money abroad is beneficial for those who study or work there, as well as have a business or buy real estate.

Long years Russians placed deposits in Cyprus. But after problems in the country's banking system, when many lost money, his popularity waned. Now widespread placement of funds in the Baltic States.

Also known among depositors are countries such as Germany, Austria and Denmark, and the classic of the genre - Switzerland, where very low rates and big size minimum contribution. Deposits in foreign banks, the interest rates of which are very low, are considered as a way to securely store money, but not to earn money.

The proposal for deposits by country is as follows.

1. In Cyprus, the best offers reach 4.5% (individually up to 6%) per annum in $ - Bank of Cyprus, Cyprus Popular Bank Ltd, and AlphBank.
2. In Latvia, Citadele Bank is interesting, which offers up to 3% per annum in $. BIGBANK announces in euros up to 2.65%.
3. USA: Edward and Jones Vanguard Group are offering up to 2.96% in dollars.
4. In the UK, the Bank of London and the Middle East announce up to 2.8% in terms of pounds sterling.
5. Italy. ING Direct Italia in euro - 1.4%.
6. Belgium - ING Belgium - 1.25% (euros).
7. Deposits in Germany: ING DiBa offers euro rates up to 1% per annum.
8. Sweden – Nordea raises funds at 1% in SEK.
9. Netherlands. ABN AMRO for euro deposits - up to 1% per annum.
10. Switzerland. Bank Postfinance - 0.15% per annum in Swiss francs. Of the deposits in Switzerland, this is the most advantageous offer, taking into account the costs of maintaining the deposit. Credit Suisse has the highest rates in Switzerland (0.72%), but service costs exceed income.

The main requirement of foreign financial structures to non-resident depositors is the transparency of the source of origin of money. Therefore, the verification of this factor is very serious. Will be required different types certificates and statements, other than the usual documents accompanying the opening of a deposit.

Recommendations of a domestic bank are welcome if it is a “daughter” of a foreign one. Recommendations of business partners who cooperate with this institution will also be very helpful. If the depositor has a business in the country where the deposit is placed, this is a big plus.

A high minimum deposit threshold (thousands of dollars) allows you to exclude people with low and medium incomes.

To open an account in a foreign bank, you must:

1. Choose a suitable country, bank (reliability rating "A") and type of deposit.
2. Enter into correspondence to clarify the conditions for opening (in person or with the help of intermediaries).
3. Collect the necessary documents (in person or through intermediaries), translate them, notarize them.
4. Send documents to the bank.
5. Get a positive decision (or rejection).
6. If the decision is positive, sign the contract by going abroad (for VIP clients, the bank can send its own clerk).
7. Place money.
8. To report local authorities all the necessary information about opening an account abroad.

Starting from 2015, citizens who placed funds abroad are required to submit information on the movement of funds on their accounts to the tax office every quarter. These reports must be accompanied by supporting documents translated into Russian and notarized.

The opening and closing of an account abroad must be reported to the tax office at the place of residence within a month (otherwise, a fine of 5,000 rubles threatens).

You can transfer funds to a deposit only through Russian financial institutions.

• Count all income / expenses so as not to be at a loss. Low interest on deposits, as well as the cost of its maintenance, commissions for transferring funds and withdrawing them, converting them, lead to the fact that when placing less than 50 thousand dollars, the depositor may be in the red.
• If a foreign bank does not give consent and requests more and more new documents, then in this way it tells the depositor that it is undesirable for them to place a deposit. Abroad, it is not customary to talk about it directly.

*Date of data update – April 2015