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Foreign Exchange and Currency Control

SDM-Bank's Foreign Currency Exchange Services are designed to offer our clients efficient, fast and regulatory-compliant foreign currency exchange and transaction management.

Our highly qualified currency control specialists help our clients to comply with current rules and regulations governing foreign exchange transactions for residents and non-residents.

Our Foreign Currency team provides comprehensive pre- and post-transaction services to ensure that our clients comply with various registration filing deadlines and document submissions within the Russian legislative framework governing Foreign Exchange operations.

MANDATORY CURRENCY CONTROL

For residents:

Operations in Russian rubles with non-residents
Operations in foreign currency with non-residents and residents

For non-residents:

Operations in rubles with residents and non-residents

CURRENCY PASSPORTS AND REGISTRATION REQUIREMENTS

CURRENCY PASSPORT NOT    REQUIRED		CURRENCY PASSPORT IS REQUIRED
Currency Passport and Registration are not required for transaction amounts of up to USD 5,000		Currency Passport and Registration are required for transactions between residents and non-residents that are executed via the resident's bank account or via international bank accounts

CONTRACT REQUIREMENT

• number and date of the contract;
• name and full description of goods sold, services, etc.;
• currency of the contract;
• timing and currency of payment;
• time of shipment of goods, works or services, etc.;
• sanctions for improper fulfillment of obligations by the parties;
• expiry date of the contract;
• Legal addresses and bank information