Banks exercise, in accordance with the current currency legislation of the Russian Federation, currency control over all types of foreign exchange transactions carried out under foreign trade agreements, credit agreements and loan agreements, as well as over foreign exchange transactions carried out under non-trade transactions.
Currency control documents
In accordance with the currency legislation of the Russian Federation, currency control documents may be submitted by the Client to the Bank or may be prepared by the Bank's employees.
Transaction passport- The transaction passport must contain the information necessary to ensure accounting and reporting on foreign exchange transactions between residents and non-residents. The specified information is reflected in the transaction passport on the basis of supporting documents available to residents (contracts and loan agreements). The transaction passport must be submitted to the Bank no later than the first currency transaction or other fulfillment of obligations under the contract.
Certificate of receipt of the currency of the Russian Federation- The certificate is issued in case of carrying out currency transactions under the contract related to crediting the currency of the Russian Federation received by the Client from a non-resident. The certificate is compiled on the basis of the documents in accordance with which the account entries were made and contains information on the identification of the funds received during the reporting month according to the transaction passports.
Information about foreign exchange transactions - The certificate is a document confirming the completion of a foreign exchange transaction and is submitted to the Bank together with a settlement document - an order to buy or sell currency, an order to transfer - when making settlements in foreign currency.
Information about supporting documents- The certificate must be provided by the resident to the Bank along with copies of documents confirming the import of goods into the customs territory of the Russian Federation or the export of goods from the customs territory of the Russian Federation, the performance of work, the provision of services or the fulfillment of other obligations under a contract or loan agreement. Such supporting documents may be cargo customs declarations, certificates of work performed and other documents provided for by the currency legislation of the Russian Federation.
Banks must provide the following services as part of the exchange control procedures
Legal framework: