Banking law. Internal foreign exchange market of the Russian Federation. Resident and non-resident accounts (most important)

Lecture notes, cheat sheets
Free library / Directory / Lecture notes, cheat sheets

Banking law. Internal foreign exchange market of the Russian Federation. Resident and non-resident accounts (most important)

Lecture notes, cheat sheets

Directory / Lecture notes, cheat sheets

Comments on the article

Table of contents (expand)

54. Internal currency market of the Russian Federation. Resident and non-resident accounts

Purchase and sale of foreign currency and checks, the nominal value of which is indicated in foreign currency, in the Russian Federation is carried out only through authorized banks. The Central Bank of the Russian Federation establishes requirements for credit institutions to draw up documents for the purchase and sale of foreign currency in cash and checks (including traveller's checks), the nominal value of which is indicated in foreign currency. The requirement to identify a person when buying and selling by individuals foreign currency in cash and checks whose nominal value is indicated in foreign currency cannot be established, except for cases provided for by federal laws.

Purchase and sale procedure foreign currency and checks, the nominal value of which is indicated in foreign currency, by residents who are not individuals and non-residents may provide for the following requirements:

1) on the use of special accounts for the reservation by residents of an amount not exceeding the equivalent of 100% of the amount of the purchased currency for a period not exceeding 60 calendar days prior to the date of the currency purchase;

2) reservation by non-residents of an amount not exceeding the equivalent of 20% of the amount of the currency being sold, for a period not exceeding one year.

The requirements for the use of a special account and for reservations do not apply to the purchase and sale of foreign currency and corresponding checks by authorized banks and individuals not for the purpose of their entrepreneurial activities.

Such requirements also do not apply if the reservation condition has already been established in connection with the implementation of a foreign exchange transaction, for which the sale and purchase of foreign currency and checks is carried out.

Residents open without restrictions foreign currency accounts in banks located in the territories of foreign countries that are members of the Organization for Economic Cooperation and Development (OECD) or the Financial Action Task Force on Money Laundering (FATF). Not later than one month from the date of conclusion (termination) of the agreement on opening an account with a bank located outside the territory of the Russian Federation, residents are required to notify the tax authorities at their place of registration of the opening (closing) of accounts. In other cases, residents open bank accounts outside the territory of the Russian Federation in accordance with the procedure established by the Central Bank of the Russian Federation, which may provide for preliminary registration of the account being opened.

Residents have the right to transfer funds to their accounts opened with banks outside the territory of the Russian Federation from their accounts with authorized banks or their other accounts opened with banks outside the territory of the Russian Federation. Legal entities - residents have the right to carry out currency transactions without restrictions with funds credited to accounts opened with banks outside the territory of the Russian Federation, with the exception of transactions between residents.

Individuals - residents have the right to carry out currency transactions without restrictions that are not related to the transfer of property and the provision of services on the territory of the Russian Federation, using funds credited to accounts opened with banks outside the territory of the Russian Federation.

Non-residents have the right to open bank accounts in the territory of the Russian Federation in foreign currency and in the currency of the Russian Federation only in authorized banks, the procedure for opening and maintaining which in the territory of the Russian Federation, including special accounts, is established by the Central Bank of the Russian Federation.

Without restrictions, non-residents have the right to transfer foreign currency and the currency of the Russian Federation from their bank accounts in banks outside the territory of the Russian Federation to their accounts and deposits in authorized banks and foreign currency from their bank accounts in authorized banks to their accounts in banks outside the Russian Federation.

Author: Belousov D.S.

<< Back: Currency transactions between residents and non-residents

>> Forward: Currency control

We recommend interesting articles Section Lecture notes, cheat sheets:

▪ General and clinical immunology. Lecture notes

▪ Banking law. Crib

▪ The budget system of the Russian Federation. Lecture notes

See other articles Section Lecture notes, cheat sheets.

Read and write useful comments on this article.

<< Back

Latest news of science and technology, new electronics:

The existence of an entropy rule for quantum entanglement has been proven 09.05.2024

Quantum mechanics continues to amaze us with its mysterious phenomena and unexpected discoveries. Recently, Bartosz Regula from the RIKEN Center for Quantum Computing and Ludovico Lamy from the University of Amsterdam presented a new discovery that concerns quantum entanglement and its relation to entropy. Quantum entanglement plays an important role in modern quantum information science and technology. However, the complexity of its structure makes understanding and managing it challenging. Regulus and Lamy's discovery shows that quantum entanglement follows an entropy rule similar to that for classical systems. This discovery opens new perspectives in the field of quantum information science and technology, deepening our understanding of quantum entanglement and its connection to thermodynamics. The results of the study indicate the possibility of reversibility of entanglement transformations, which could greatly simplify their use in various quantum technologies. Opening a new rule ... >>

Mini air conditioner Sony Reon Pocket 5 09.05.2024

Summer is a time for relaxation and travel, but often the heat can turn this time into an unbearable torment. Meet a new product from Sony - the Reon Pocket 5 mini-air conditioner, which promises to make summer more comfortable for its users. Sony has introduced a unique device - the Reon Pocket 5 mini-conditioner, which provides body cooling on hot days. With it, users can enjoy coolness anytime, anywhere by simply wearing it around their neck. This mini air conditioner is equipped with automatic adjustment of operating modes, as well as temperature and humidity sensors. Thanks to innovative technologies, Reon Pocket 5 adjusts its operation depending on the user's activity and environmental conditions. Users can easily adjust the temperature using a dedicated mobile app connected via Bluetooth. Additionally, specially designed T-shirts and shorts are available for convenience, to which a mini air conditioner can be attached. The device can oh ... >>

Energy from space for Starship 08.05.2024

Producing solar energy in space is becoming more feasible with the advent of new technologies and the development of space programs. The head of the startup Virtus Solis shared his vision of using SpaceX's Starship to create orbital power plants capable of powering the Earth. Startup Virtus Solis has unveiled an ambitious project to create orbital power plants using SpaceX's Starship. This idea could significantly change the field of solar energy production, making it more accessible and cheaper. The core of the startup's plan is to reduce the cost of launching satellites into space using Starship. This technological breakthrough is expected to make solar energy production in space more competitive with traditional energy sources. Virtual Solis plans to build large photovoltaic panels in orbit, using Starship to deliver the necessary equipment. However, one of the key challenges ... >>

Random news from the Archive

Love for coffee is genetic 26.08.2016

Researchers at the University of Edinburgh in the UK found that people with a DNA mutation in the PDSS2 gene tend to drink less coffee than those without the mutation. According to scientists, this is due to the fact that the mutated gene slows down the processing of caffeine by the body and maintains the effect of coffee for a longer period.

Scientists studied the genetic makeup of 370 people living in a small village in southern Italy and compared it with the DNA of 843 people from villages in the country's northeast. In addition to this, each of them was asked how much coffee they drink every day.

It turned out that people with mutated PDSS2 drank on average one cup of coffee less than the rest. The same experiment, conducted with 1731 people in the Netherlands, gave the same result, only the difference in consumption was slightly smaller. Scientists explained this gap by different portions of coffee that are accepted in each of the countries: in Italy these are small cups, in the Netherlands they are large, with a higher content of caffeine.

"The study confirms the idea that genetics play a very important role in our daily habits and lifestyle, and understanding this will help us not only understand how people behave, but also why they do it," the scientists said.

In a larger study conducted in 2014, scientists examined the DNA of more than 120000 people and found that mutated genes help people adjust the amount of coffee they drink based on how efficiently their bodies are able to metabolize caffeine - for optimal coffee effects.

Other interesting news:

▪ LMX9838 - Bluetooth module with serial port profile

▪ From trembling in the hands

▪ Following in the footsteps of garbage

▪ A person will be calculated by radio waves

▪ Graphene on platinum surfaces defies Coulomb's law

News feed of science and technology, new electronics

Interesting materials of the Free Technical Library:

▪ section of the site Data transfer. Article selection

▪ article Paper airplanes. Tips for a modeler

▪ article When was art divided into real and abstract? Detailed answer

▪ article Manure removal system maintenance. Standard instruction on labor protection

▪ article Prefix to the frequency meter for testing transistors. Encyclopedia of radio electronics and electrical engineering

▪ article Shooting bottle. Chemical experience

Leave your comment on this article:

All languages of this page

Home page | Library | Articles | Website map | Site Reviews