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Information currency control What is foreign exchange control


Banks carried out in accordance with the current legislation of the Russian Federation currency exchange controls on all types of foreign exchange transactions conducted by foreign trade agreements, loan agreements and loan agreements, as well as for foreign exchange transactions conducted by non-trading transactions.

currency control documents

In accordance with the currency legislation of the Russian currency control documents can be provided by the Client to the Bank or can be prepared by the Bank's employees.
Transaction passport - The transaction passport must contain the information necessary to ensure the accounting and reporting of currency transactions between residents and non-residents. These details are recorded in the passport of the transaction on the basis of supporting documents, available to residents (the contracts and loan agreements). The transaction passport must be submitted to the Bank no later than the first of the foreign currency transaction or other performance of obligations under the contract.

Information about the admission of the Russian Federation currency - Reference is made in the case of foreign exchange transactions on a contract related to the enrollment of the currency of the Russian Federation, received from non-resident client. Reference is made on the basis of the documents, according to which the committed records of account and contains identifying information on transaction certificates received during the reporting month funds.

Information on foreign currency transactions - Certificate is a document confirming the commission of foreign exchange operations, and available on the Bank together with the settlement document - request for the purchase or sale of foreign currency, the request for transfer - for settlements in foreign currencies.

Help on supporting documents - Information should be provided by a resident to the Bank together with copies of the 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 execution of works, provision of services or performance of other obligations under the contract or loan agreement. These supporting documents may be cargo customs declarations, acts of acceptance and other documents provided by the currency legislation of the Russian Federation.

Banks must provide the following usluugi under the exchange control prouedur

  • Registration of passports of transactions for import and export contracts not later than the next working day after submission of documents. Urgent design - during current operational day.
  • Re-issuance of passports of transactions in accordance with changes in foreign trade conditions of contact or credit agreement.
  • Keeping files on the passport deal.
  • Advising clients on the order of filling in the forms of currency control documents (passport deal Certificate of Operation, Certificate of supporting documents, Certificate of admission of the Russian Federation currency)
  • Provide recommendations on how best to Client configurations and methods of settlements with foreign counterparties.
  • Advice on compliance of the Client currency transactions and projects presented foreign trade contracts requirements of the current legislation of the Russian currency.
  • Providing customers with inquiries about the status of payments on foreign trade contracts.
  • Advance notice of the occurrence of Customer timing of currency control documents (DT, documents confirming the execution of works, services, etc.).
  • Advance notice of termination of Customer specified currency legislation of the Russian Federation foreign currency terms Spent transit currency account of the client.
  • Informing customers about the latest developments in the field of currency legislation.
  • Organization of trade finance foreign trade transactions of importers.

Legal framework:

  • Federal Law of 10.12.2003 № 173-FZ "On Currency Regulation and Currency Control"
  • Bank of Russia Instruction from 15.06.2004 № 117-I "On the order of presentation by residents and non-residents to authorized banks of documents and information in the implementation of foreign exchange transactions, taking into account the order of foreign exchange transactions by authorized banks and clearance deals passports"
  • Bank of Russia Instruction from 30.03.2004 № 111-I "On mandatory sale of foreign currency earnings in the domestic currency market of the Russian Federation"
  • Bank of Russia, the number of 01.06.2004 258-P "On the order of presentation of the authorized banks by residents supporting documentation and information relating to currency transactions with non-residents in foreign trade transactions, and implementation of the authorized banks control over currency transactions"