Under Russian law, any adult citizen has the right to open a foreign bank deposits.
Make it quite difficult, but many Russians it does not stop.
If you set out to invest in a foreign bank, it is important to make the right choice.
Advantages and disadvantages of foreign banks
Foreign banks attract a lot of Russians. It is believed that to keep their savings in foreign bank more reliable than Russian. Higher stability of foreign banking institutions due to the fact that they do not invest in high-risk assets.
A foreign bank - it is not a bank with a foreign name, which works on the territory of the Russian Federation. These banks are also subject to the Central Bank, and the conditions of their work are no different from the Russian.
Another reason that investors givepreference to foreign banks - the desire to diversify the investment direction, which increases the safety of funds. Many open accounts abroad, on the basis of convenience and in order to increase the speed of processing and the cost of international transactions. These people, for example, have property or a business abroad or children studying abroad.
In addition, the account transactions in foreignBanks are confidential and are outside the purview of the tax and other regulatory authorities. Finally, a foreign bank account may open a more favorable credit conditions, which are provided by foreign banks.
The Russians are opening foreign accounts ratherfor savings, not multiply money, as rates on deposits abroad less profitable. They can be from 0 to 4% per year, whereas in Russia on foreign currency deposits rates are several times smaller. Moreover, some large banks set reduced rates for non-residents.
When opening an account abroad, the Russians are obliged to notify the tax office within one month, otherwise they shall be imposed a considerable fine.
Meanwhile, foreign deposits, as a rule, characterized by high commissions for account maintenance, conversion and cash withdrawals, which practically invalidates their profitability.
Criteria for the selection of a foreign bank
First and foremost, you must make sure thatbank is trustworthy. These are considered to OECD member banks and the FATF (on the problems of money laundering, the Commission). Of course, it is necessary to find out whether it is possible to open an account in these banks for non-residents. Some countries have restrictions on the opening of deposits for individuals with foreign citizenship.
Also it is necessary to take into account the following factors:
- Type of the account being opened - for individuals or legal entities
- Procedure for opening an account - should be familiar with the requirements of the bank to open an account (as in some banks, there are restrictions on the size of the account), as well as list of dokumentov-
- Bank rates for the operation and maintenance of scheta-
- Reliability of the bank - it is necessary to take into account the bank's experience, its financial performance and credit rating.
Finally, we can not ignore the convenience of opening an account in a foreign bank - the ability to remotely open a deposit and asset management (through the Internet bank).