Currency payments without transaction passport. Currency transactions: when is it possible to receive payment in foreign currency? Currency payments
Every month the popularity of foreign currency in Russia is only increasing. And this is not at all surprising, as practice over the past 25 years shows, people who kept their savings in dollars have never failed.
True, in Lately there are rumors that the circulation of the dollar in Russia may be banned. However, no serious legislative initiatives have been observed so far. In addition, Russian President Vladimir Putin recently stated that there are no plans to tighten currency regulation:
The liberal course is, of course, good. But do not forget that the official currency in Russia is still the ruble. Therefore, there are some restrictions for transactions with dollars and euros.
This article will consider the main provisions of the legislation in the field of currency control, rules for making payments between residents and non-residents, as well as a mechanism for making currency transfers.
Currency control in the Russian Federation
The main legal act regulating foreign exchange transactions is Law of the Russian Federation No. 173-FZ of December 10, 2003 "On currency regulation and currency control". The bodies of currency regulation in the Russian Federation are the Bank of Russia and the Government of the Russian Federation. And the agents of currency control are banks, as well as professional members securities market.
Most citizens may get the impression that there are no foreign exchange controls at all in Russia. Indeed, the most popular currency transactions are buying and selling dollars and euros, as well as opening deposits in foreign currency. And it is precisely these operations that citizens of the Russian Federation are allowed to perform without restrictions (clause 3, article 9 of the Federal Law No. 173):
However, as soon as you want to make any non-cash transfers in foreign currency within the country or abroad, you will immediately encounter a lot of difficulties. You will be required to provide various supporting documents, complete payment order in English, besides, there are restrictions on the allowed amounts of transfers, and, in addition, the bank sets a rather serious commission for such operations.
The possibility of making currency transfers is affected by the residence of the participants in the transfers. About who to consider as residents and non-residents, it is written in Article 1 federal law 173-FZ. In short, residents are citizens of the Russian Federation, or persons residing in the territory of the Russian Federation on the basis of a residence permit, as well as legal entities established in the Russian Federation, and, in fact, the Russian Federation itself with all its subjects and municipalities:
Control currency transactions for residents of the Russian Federation
1 Currency transfers between residents are prohibited.
An exception is the transfer of currency to the accounts of spouses, close relatives (in a direct ascending or descending line: parents, children, grandchildren), siblings, adoptive parents and adopted children. Moreover, there are no restrictions on the amount of such a transfer both within Russia and abroad. You will only need to provide the bank with a document confirming the relationship.
Residents can also make some other currency transactions. True, they mainly concern a very limited circle of people, so we will not dwell on them in detail. For example, operations related to settlements in duty-free shops are allowed; operations involving settlements and currency transfers for the implementation of diplomatic activities; transactions for payment and / or reimbursement of expenses related to business trips outside the territory, etc.). You can read about such exceptions in Article 9 of the Law of the Russian Federation No. 173-FZ "On currency regulation and currency control" dated December 10, 2003.
2 You can transfer currency to your bank accounts (opened both on the territory of the Russian Federation and abroad) without restrictions.
True, if you transfer money to your account abroad, you need to provide the bank with a notification from the tax office at the place of residence that you informed her that you have such a foreign account.
3 Currency transactions between residents and non-residents are carried out without restrictions:
True, you will need to provide the bank with supporting or substantiating documents for the ongoing currency transaction:
Such documents include invoices, for example, for training, various contracts, invoices (a document issued by the seller to the buyer and containing the main characteristics of the goods supplied, delivery conditions, etc.), as well as documents confirming the non-residence of the recipient of the transfer. Moreover, you will need to translate these foreign documents into Russian. In other words, you need to provide the bank with the reasons for your transfer.
And now let's dwell on the mechanism of currency transfers in detail.
Currency transfer. Swift system
Currency transfers, by analogy with the ruble interbank, can also be made both directly at a bank branch and using Internet banking.
True, the commission for such transfers is in any case much higher than for a ruble bank transfer. And this is not surprising. Any currency transfer (both within the country and abroad) goes using the swift system (swift) through correspondent banks (banks on whose correspondent accounts our credit organizations keep their non-cash currency. For example, a correspondent bank " Tinkoff bank a" for dollars is JPMORGAN CHASE BANK, N.A. NEW YORK, NY US, while Sberbank uses the correspondent bank DEUTSHE BANK AG, Frankfurt AM MAIN for the euro).
S.W.I.F.T. (SWIFT) is an international system that provides the transfer of financial data for transfers. Each bank participating in the SWIFT system has its own unique SWIFT number, thanks to which information is exchanged. The SWIFT code can consist of letters or letters and numbers. For example, SWIFT "Alfa Bank" looks like this: ALFARUMM.
You can find out the bank's SWIFT code directly at the bank itself or on its website. And also the SWIFT code of the bank can be viewed at website of the Russian National SWIFT Association. The amounts of transfers that can be made using SWIFT are limited only by the legislation of each particular country. The application for translation must be completed in English. Here is how the form for currency transfer online "Alfa Bank" looks like:
The Internet banking interface is intuitive. In the field “payment purpose” there should be an entry that clearly reflects the essence of your operation, for example, “For hotel / hotel rental” - “For hotel accommodation”; “Gifting to a relative” - “Gift in favor of relative”; "Translation own funds"(transfer is carried out to your own account) -" Transfer of own funds ". The most popular grounds for transfers and their translation into English language can be viewed directly in the Internet bank of Alfa Bank "Alfa Click":
Cost of SWIFT transfers, commission
With currency transfers, you should be careful, it is important to clarify whether the commission of correspondent banks is included in the transfer fee indicated by the bank. You always need to choose a tariff: "All expenses at the expense of the sending client (OUR)". If you select the function "Commission at the expense of the beneficiary (BEN)" or "Expenses of the bank at the expense of the sender, expenses of other banks at the expense of the beneficiary (SHA)", then this means that correspondent banks will charge an additional commission for the transfer, and as a result, up to the recipient will receive a smaller amount than you sent.
Typically, the commission amount is calculated as a percentage of the transfer amount, indicating the minimum and maximum amounts.
Very handy plate with the size of the commission when sending swift transfers online, you can look at one of the forums on the banki.ru portal. It will be more expensive to make a currency transfer at a bank branch:
As can be seen from the table, for small transfers, it is most profitable to use Avangard Bank - a commission of 0.2%, minimum 15 EUR and maximum 150 EUR. But for currency transfers of large amounts, you need to use Rosbank (there the commission is 1.3%, but the upper limit is limited to 65 EUR).
It is Avangard Bank that is most often used to build currency ladders with Tinkoff Bank (which gives a 1% bonus when replenishing a deposit with an interbank transfer). .
If you need to send currency to a specific person on a regular basis, you can issue additional card to your currency debit card (for example, in " Tinkoff Bank” or “Alfa Bank”) and simply give it to the person to whom you will send money. In this case, there will be no commission.
True, the bank can simply block the card, citing "doubtful transactions" or set such limits on transfers and replenishment of the card (under the agreement, Tinkoff Bank can change the limits at its discretion at any time) that it will be inconvenient to use the card.
Currency transfer. Transfer systems Contact, Western Union
You can also send a currency transfer abroad using the system of international currency transfers (Western Union, MoneyGram, Contact). The main advantages of this method of sending money are the absence of the need to open a bank account, as well as the speed of transfer.
True, the commission for such a service for non-CIS countries will be higher (from 3%) than when transferring via the SWIFT system. To neighboring countries, a currency transfer via Contact or Western Union will not be so expensive. Here, for example, are the tariffs of the Contact system:
As can be seen from the table, the transfer, for example, to Georgia of more than $2,000 will cost 0.5%.
The maximum transfer amount in accordance with Bank of Russia Ordinance No. 1412-U dated March 30, 2004 “On establishing the transfer amount by a resident individual from the Russian Federation without opening bank accounts” is $5,000 (or the equivalent in another currency) per day:
It is also worth noting that according to the Law “On Combating the Legalization (Laundering) of Proceeds from Crime and the Financing of Terrorism”, a bank may refuse to carry out any operation for you, referring to the internal control rules (which they themselves develop), as well as a credit institution is obliged to require you to justify the origin of your funds. Details about new edition"anti-money laundering law" ( last changes entered into force not so long ago, 10/31/2015) read the article
Currency payments in the client bank - instructions each bank, as a rule, has its own nuances. However, the general steps in the process of creating a payment order in foreign currency are similar. Read about how to create a currency order in the material.
Basic concepts and definitions
In order to deal with additional (compared to a "regular" payment order) fields in a currency payment, you should study the technique of international transfers a little. After all, we almost always pay foreign counterparties in foreign currency. Currency settlements with resident partners are prohibited by law, with rare exceptions (Article 9 of the Law of 10.12.2003 No. 173-FZ “On Currency Control”).
Read more about settlements with non-residents: .
For international transfers, slightly more information is used than for transactions within the country. It is most appropriate to give their names (designations) and decipher the essence a little, so that it is clear why separate fields in the currency order are dedicated to them.
SWIFT is an international banking association. Banks servicing international payments are registered in SWIFT and receive an individual identification code with the same name. Specifying the SWIFT code in the payment order allows you to clearly identify the bank to which the payment is going. The SWIFT code itself is the 11-digit electronic "address" of the bank in the SWIFT system.
BIC code is the same as SWIFT. The name is used from the ISO 9362 standard, which regulates methods for identifying participants in financial settlements.
BEI code is also an identifier in SWIFT, but not of a bank, but of a corporate client of this bank. The Bank can register its clients in the SWIFT system to increase the speed and accuracy of settlements. The BEI code also helps ensure that the sent payment will go to its destination.
The bank clearing code is also a bank identifier, but not in SWIFT, but in national clearing systems.
IBAN is another practically complex identifier: it defines the bank (branch) and the client's account number in the international format (ISO 13616 standard).
ISO code - part of the ISO 3166-1 standard contains codes for the names of countries and subordinate territories. Used to indicate payment document addresses.
IMPORTANT! There are other similar encodings. For banking purposes, it is necessary to apply exactlyISO 3166-1.
Address - any address is indicated in the sequence: street, house number, city, district, postal code, country (ISO code is possible). This is an international format.
The beneficiary is the one to whom we pay.
Intermediary bank (correspondent bank) - indicated if the beneficiary's bank directly holds an account in the corresponding currency in another bank (intermediary).
Thus, technically, the process of creating a correct payment order in currency is the correct indication of all identifiers of the payee and his bank.
There are several more pitfalls on the way to making an international transfer, which are also worth dwelling on:
- Forbidden SWIFT characters - the settings of this system do not skip characters
№ % # $ & @ ” = \ { } ; * « » ! _ < >
In addition, the system automatically replaces them with valid ones. Thus, the sequence of characters in identifiers may be violated and an error will occur.
- Information for identifying a client is the necessary information required by a Russian bank in accordance with the law of 08/07/2001 No. 115-FZ. Without specifying information about the client, as well as providing information on additional requests, the bank may simply not execute the payment order.
- The black list of the bank is a reference book that contains information about persons, organizations, states and territories of registration (incorporation), in respect of which there are restrictions on Bank operations or transactions that should be recognized as doubtful. With regard to clients who are somehow blacklisted, transactions may be difficult or even impossible.
Creating a transfer order in foreign currency - step by step instructions
Having dealt with the technology and nuances of making a transfer, we will consider the process of creating a currency order (instruction) step by step:
- We go to the client-bank and select the options "Documents" - "Currency orders" - "Create payment order". Interfaces may differ slightly in different client banks, however, the standard way to create payment documents usually goes through the "Documents" (or "Payment documents") menu. In this case, the number and date of the order are usually assigned automatically. Some systems may offer to choose whether the payment will go to another bank customer or to another bank. To create the transfer in question, you need to select another bank. Usually, at this stage, the parameter of the transaction is indicated - deduction of bank commissions for the transfer. To do this, in the corresponding field in the drop-down list, select the appropriate value. According to the existing list, it will be clear which commissions and how can be withheld, in addition, the options can be clarified at the bank, so we will not dwell on this moment in the article format.
- In the appropriate fields, indicate the currency code and the amount of the payment. In some cases, the option of simultaneous conversion is available. For example, if the payer has money in rubles, and the payment needs to be made in dollars, you can check the box “I agree with the conversion rate”. The bank, executing the order, converts the funds into the desired currency.
- In the field for specifying the write-off account, the corresponding client account is selected. In this case, the rest of the details are entered automatically, from the information stored in the system. Usually, at this stage, the details that are required by the bank to comply with the provisions of Law No. 115-FZ also enter the document. In addition, the SWIFT code of the payer's bank is usually entered automatically (in case of choosing a transfer to another bank in paragraph 1).
- Specify in a separate field the SWIFT code of the intermediary bank (if any in the details provided by the counterparty). Further, the system itself will find by the code all the other necessary information about the bank. The same will happen with the indication of the clearing code instead of SWIFT (there is a separate field for this). If there is neither one nor the other, all fields will have to be filled in manually: address, bank name, city, country. Some client banking systems can return a payment without an identification code "to clarify the details."
IMPORTANT! ANDSWIFT, and the clearing code are selected from international directories. That is, next to the field for the code, there should be an icon for a drop-down list of banks with codes.
- We indicate in separate fields the data of the beneficiary's bank (by analogy with the intermediary bank).
- In the appropriate fields, specify the details of the payee. All fields provided must be filled in. If there are IBAN, BEI codes, we start with them. It is possible that the fields "Name of the recipient", "City" and "Country" will be pulled up from the directories themselves.
- Fill in the field "Purpose of payment". For international transfers - in Latin. English standardized code words are allowed.
NOTE! In some systems (for example, Sberbank), information about transfer fees is included in the payment order after the purpose of the payment has been clarified (and not at the first steps, as is standardly presented above).
- Next, fill in the fields required for Russian currency control: for example, a transaction passport.
NOTE! To enter a transaction passport into an order, as a rule, it must first be entered separately into the client-bank in the “Documents” section. Then, when making a payment, a drop-down list with information about the passports available in the system will appear in the "Passport" field. Accordingly, it remains to choose the right one.
- We save the currency payment order (the "Save" button). At this stage, the system will conduct a preliminary check and, in case of errors, issue comments. The saved document can be signed and sent for execution.
Results
The formation of a currency payment in a client-bank requires the fulfillment of some additional rules and the introduction of more information than when preparing a regular payment order.
In the foreign economic activity of any state, payment under interstate agreements takes place in the currency of payment. This definition and its role in commercial transactions will be considered in more detail in the article.
World settlement system
Before moving on to the issue of payment, let's define the term "international settlements". They are an interconnected system in which payments are regulated monetary claims and obligations arising from member countries and their residents, represented by legal and individuals.
The global payment system includes payment for:
- export and import of goods;
- services and operations of a non-commercial nature, including expenses for cultural events, administration of embassies, travel expenses, etc.;
- service work on credit operations, loans, etc.
Settlement rules
The regulatory framework for the procedure for settlements between countries is provided both by the national laws of the states participating in foreign economic operations, and by foreign economic activity contracts signed by the payers of the recipient of funds. In addition, the theses of international unified rules and customs in the external economic environment are taken into account in the calculations.
Agreements on interstate contracts, as a rule, are held in the hard currency of the most developed countries, since the participants in the settlements usually do not have a single means of payment.
Calculations are impossible without the presence of two categories of materials:
- Commercial, they are also called trading. This group is represented by transport, warehouse and insurance documents: invoices, bills of lading, waybills, warehouse certificates, etc.
- In the financial (payment) group, the documents are presented promissory notes, drafts, checks, promissory notes and other documents expressing a monetary claim.
Price-payment currencies may not match: for example, in international contract one financial unit may appear, and payment can be made in another or in general in a commodity form.
Peculiarities
The currency of the price is the one in which the value of the goods is indicated. When choosing the optimal currency for fixing the price of a product, the circumstances that are significant for settlements between countries are taken into account. In particular, we are talking about the conditions of interstate relations and international customs. Sometimes the transaction price is listed in two or more currencies, or a standard financial basket is used to minimize financial risks.
An important factor currency efficiency transaction is the correct choice of price currency and currency of payment. This is due to the diversity of export and import contract prices, as well as dependence on the inclusion of additional costs along the way of the goods from the supplier to the recipient.
There are five main options for determining the price of a product:
- By firmly fixing the value at the stage of signing the contract - in this case, it remains unchanged during the period of fulfillment of the terms of the contract. This method is optimal when a downward trend in world prices is visible.
- When a transaction is concluded, the principle on which to set the price is determined based on the quotations of the relevant market at the time of delivery. And the clarification of the cost itself occurs in the course of the implementation of the contract. This option is used when the expected increase in market quotations.
- The price is clearly fixed at the stage of signing the contract, but can be changed in the event of a jump market value in relation to the contract more than 5 percent.
- A sliding price can be set if cost components change, for example, at the time of ordering equipment. With the current high market conditions, taking into account the interests of the buyer, restrictions are introduced (by setting a general limit on price changes or extending its variation only to part of the costs and for a short time).
- With a mixed option, one part of the cost is fixed clearly, while the other can slide depending on the conditions.
Conditions
Price and quotation are determined by special conditions, and in case of their unequalness - payment with currency conversion. When unstable exchange rates These conditions largely determine how foreign trade deal will be effective.
Price currency is a financial unit in which the cost of goods sold is specified. Here, each participant in the transaction has its own interests: the exporter is interested in a currency with a steadily growing exchange rate, while the importer is more profitable with an analogue whose exchange rate tends to decrease.
In order to minimize financial risks, the price currency is usually one of the stable national currencies of developed countries. There is also a practice of expressing the price of goods in several forms.
The currency of payment is the unit by which the exporter and importer settle with each other. It is not necessarily equal to the currency of the price, this is especially common in the calculations of developing countries.
For foreign trade in developed countries Settlements in the form of payments in the national currencies of these states are also characteristic, when they are freely convertible. If currency unit of the importing country does not have this property, then a reserve analogue is used. In the case of economic clearing, the payment currency is the same as that specified in the relevant agreement.
Translation rules
When concluding a contract between the participants in the settlements, it must be agreed and fixed the conditions under which the currency of the price will be recalculated into the currency of payment. This implies that the contract states:
- date of recalculation, usually equal to the day of payment or the previous day;
- type of rate - current market rate, wire transfer rate or other;
- currency market, whose quotes are used in the calculation of quotes.
A depreciation of the price currency is fraught with losses for the exporter, who gets a smaller amount in the payment currency. An increase in the exchange rate, on the contrary, hits the pocket of the importer, who is forced to pay a large amount
Reservations
In the case of fixing the price of the contract not in the currency basket, but only in one national currency, there are clauses that prevent participants from the impact of financial risks. According to them, a proportional adjustment of the contract price is possible in case of an unfavorable change in the exchange rate or a decrease in the purchasing power of certain types.
Accounting for export operations
In foreign economic activity, there are quite often cases when the currencies of the contract and payment do not match. And if suddenly the above terms of recalculation and reservations are not indicated in the contract, banks are guided by the following rules:
- official exchange rate national currency to foreign, established by the head bank of the state on the day of payment;
- if one of the currencies of the Commonwealth of Independent States or the Baltic States is used, the conversion is made at the rate set by the Moscow Interbank Currency Exchange;
- exchange rate quoted in the latest issue of the Financial Times in all other cases.
When the conditions in the contract are not spelled out and the above methods are used, the bank runs the risk of missing revenue. This threatens the enterprise with the imposition of penalties (0.3% of the amount of lost revenue). The maximum amount of penalties is limited to the amount of unreceived revenue.
Customs payments
They are one of the most important components in determining the profitability and expediency of concluding an import-export contract as a whole. Customs charges are:
- import and export duties;
- excise duties;
- payments for storage of goods.
Payment is also taken in the event of customs formalities arising from the import and export of goods into the territory of the state. The amount is usually repaid by the owner of the transported goods or by a company with a brokerage license providing such services. The currency of customs payments can be as Russian ruble(in the case of import of goods into the territory of the Russian Federation), and foreign currency quoted by the Central Bank. And they can be paid in the following forms:
- non-cash - in the form of a payment order, customs cards, offset of advance amounts, cash deposit;
- cash - in this case, an appropriate credit order is issued.
Let's turn to Art. 140 Civil Code Russian Federation (hereinafter referred to as the Civil Code of the Russian Federation). According to the general rule All payments and settlements in Russia can be made in 2 ways:
- in cash, in which the only acceptable means of payment are a coin and a banknote of the Bank of Russia (Article 29 of the Law “On the Central Bank of the Russian Federation” dated July 10, 2002 No. 86-FZ, hereinafter - Law No. 86-FZ);
- non-cash.
In both cases, the legislator designated the ruble as the main legal tender. Everything is expressed in rubles monetary obligations(part 1 of article 317 of the Civil Code of the Russian Federation).
It is possible to set the payment amount in foreign currency(IV), if in fact the calculation will be in rubles. By default, the conversion into rubles is based on the official exchange rate in force on the day of payment (other procedures can be agreed in the contract).
In addition, within a very narrow framework established by law, it is permissible to make settlements for obligations on the territory of the Russian Federation using the IoT, as well as payment documents in the IoT.
General procedure for the production of non-cash foreign exchange settlements
This procedure is defined in Art. 14 of the law "On currency regulation ..." of December 10, 2003 No. 173-FZ (hereinafter - Law No. 173-FZ). Residents have the right to make settlements on their bank accounts in any foreign currency. It does not matter in what currency the bank account was opened - if necessary, a conversion operation will be carried out at the rate of the corresponding bank.
For individuals, the procedure for conducting non-cash payments in EW is similar to the procedure for legal entities.
A number of by-laws establish features:
- purchases of foreign currency by legal entities and entrepreneurs (instruction of the Bank of Russia dated August 16, 2017 No. 181-I);
- currency payments authorized capital credit institution(Clause 4.3 of Bank of Russia Instruction No. 135-I dated April 2, 2010).
Procedure for non-cash payments in foreign currency between residents
Residents can open currency accounts in authorized banks of the Russian Federation without any restrictions. However, currency transactions between residents of paragraph 1 of Art. 9 of Law No. 173-FZ prohibits. But there are still a number of concessions regarding non-cash payments between them. These are the operations:
- on transfers of fiat money and the currency of the Russian Federation between the accounts of residents in banks located on the territory of the Russian Federation and abroad (subparagraphs “g” and “h”, paragraph 9, part 1, article 1 of Law No. 173-FZ);
- obligatory payments to budgets and settlements and transfers related to their execution;
- settlements and transfers of the currency of a foreign state for the purposes of carrying out the activities of diplomatic missions, consulates and other official representative offices of the Russian Federation, as well as related to the maintenance of their employees;
- non-cash transfers between resident individuals from bank accounts outside the Russian Federation to Russian authorized banks;
- non-cash transfers between resident individuals who are both spouses or close relatives, from bank accounts in the territory of the Russian Federation to banks abroad;
- settlements that are related to the receipt of commercial or bank loan from an authorized bank.
The procedure for cash settlements in national and foreign currencies in the Russian Federation
For individuals, special rules apply: they have the right to produce listed in paragraph 3 of Art. 14 of Law No. 173-FZ, currency transactions in cash (for example, donating currency to a spouse or bequeathing it, buying coins for a collection by numismatists, etc.).
Note! The rules by which cash settlements are made in the territory of the Russian Federation both in the national and in the EOS are established by Bank of Russia Directive No. 3073-U dated 07.10.2013 “On Cash Settlements” (hereinafter referred to as Directive No. 3073-U). They apply to individuals and a number of exceptional cases when a legal entity or an entrepreneur has the right to spend cash in foreign currency (clause 2 of Directive No. 3073-U).
Clause 5 of Instruction No. 3073-U allows cash settlements in national and foreign currencies between settlement participants and individuals in any amount. But already in the next, paragraph 6, the limits are nevertheless established. They extend their effect to cash payments in the above currencies made by legal entities and individual entrepreneurs, and are expressed in limiting the size of the amount - no more than 100,000 rubles. (for foreign currency - the equivalent of this amount at the rate of the Central Bank of the Republic of Belarus on the date of cash settlements). This is the so-called cash limit.
It works:
- for such calculations that are made within the framework of 1 contract;
- fulfillment of civil obligations stipulated by the agreement, which was concluded between the participants in cash settlements, and arising from it;
- issuance of cash by a credit institution Money when such issuance is made upon a request for the return of the balance of funds transferred to a special account with the Bank of Russia.
There are no exceptions in this case either. About them - in the last paragraph of clause 6 of instruction No. 3073-U.
Making payments in foreign currency abroad
The procedure for settlements through accounts opened outside the Russian Federation is stipulated by the legislator in Art. 12 of Law No. 173-FZ.
As a general rule, paragraph 6 of Art. 12 Without any restrictions, settlements between residents (legal entities and individuals) with funds credited to their accounts in banks outside the Russian Federation can be carried out. But there are still a number of exceptions. Their complete list is given in paragraph 1 of Art. 9 of Law No. 173-FZ.
At the same time, the legislator provided for a number of exemptions from the established ban. As for foreign exchange transactions between residents outside the Russian Federation, these exceptions are listed in clause 6.1 of Art. 12 of Law No. 173-FZ.
The resident is obliged to notify the territorial tax authority(at the place of own registration).
Settlements of residents with non-residents in foreign currency: features and nuances of the procedure
Art. 6 of Law No. 173-FZ allows foreign exchange transactions between residents and non-residents. However, not without some reservations. They are listed in Art. 11 of this law, namely:
- Only specially authorized banks can carry out the procedure for the purchase and sale of EVs and checks (including traveller's) with the nominal value indicated in them, expressed in foreign currency.
- When buying and selling foreign currency in cash, as well as checks with a face value in the IW, the currency regulation body (the Central Bank of the Russian Federation) imposes special requirements on credit institutions for paperwork (for example, see Article 20 of Law No. 173-FZ).
In addition, separate rules for cash settlements in the currency of the Russian Federation and foreign currency between resident legal entities and non-residents are discussed in Part 2 of Art. 14 of Law No. 173-FZ.
Principle of repatriation
Important! Mode special conditions is valid when making settlements by residents in the EW as part of foreign trade activities (Article 19 of Law No. 173-FZ). This is the so-called principle of repatriation, which imposes certain obligations on residents (parts 1 and 1.1 of this article):
- ensuring the receipt of the currency (national and foreign) due in accordance with the terms of agreements and contracts on their accounts;
- repatriation to the Russian Federation of funds paid by non-residents for goods, works, services and information that were never imported into Russian Federation, performed, transferred (for non-fulfillment of the specified condition, liability is even provided for under Article 193 of the Criminal Code of the Russian Federation);
- receipt on their accounts from non-residents of the currency due under loan agreements.
Documents required by the bank from a resident, when the latter received money from a non-resident on the current account
If a resident carries out foreign trade activities and, accordingly, makes settlements related to it, he is obliged to submit to the authorized bank the information specified in clause 1.1 of Art. 19 of Law No. 173-FZ information.
In addition, according to part 3 of Art. 22 of Law No. 173-FZ, authorized banks are agents of currency control. Therefore, as follows from Art. 23 of this law, when carrying out foreign exchange transactions (which is the transfer of funds from a non-resident to a resident), they have the full right to request from residents the necessary documents and information on the transactions carried out with the IE.
The same, in turn, as required by Art. 24 are obliged to submit such documents and information at the request of banks. Scroll required documents and the volume of required information is determined by the currency control agent at its discretion.
Thus, the implementation of operations/settlements in foreign currency on the territory of the Russian Federation and beyond its borders takes place against the backdrop of many restrictions and mandatory conditions. Their violation and non-compliance may result in administrative and even criminal liability.