Business accounts: Russia
An honest assessment before work starts, the quote is fixed in writing.
A Russian company's account is opened with a Russian bank; banks practically never open accounts for foreign companies without a presence in Russia. A limited liability company (OOO) is registered by the Federal Tax Service: the state duty is RUB 4,000, about $50, for paper filing and zero for electronic filing. A foreigner may own 100% of a Russian company, except in strategic sectors, which require a separate approval procedure.
Documents the bank asks for
- Extract from the state register of legal entities and the charter.
- Decision appointing the director.
- Passports of the director and shareholders; for foreigners, with a notarised translation and a document confirming the right to stay.
- Beneficial ownership down to the ultimate owners.
- Business description: clients, suppliers, payment countries, expected turnover.
- Proof of the source of share capital.
How the bank assesses company risk
The Bank of Russia runs the Know Your Customer platform, which places every company and sole trader in a green, yellow or red group for the risk of suspicious transactions. A bank may not refuse a green-group client an account or a transaction with another green-group client, and may not terminate its account agreement. A new company with foreign shareholders should prepare a clear business description and documents for its first deals in advance.
Company taxes in 2026
| Tax | Rate |
|---|---|
| Profit tax | 25%; accredited IT companies 5% |
| VAT | 22% from 2026; 10% on food, children's goods and medicines; 0% on exports |
| Simplified system (USN) | 6% of revenue or 15% of revenue minus expenses; no VAT if 2025 revenue did not exceed RUB 20 million, ~$235,500 |
| Employer social contributions | 30% up to RUB 2,979,000 a year per employee, 15.1% above |
| Dividends to a non-resident shareholder | 15%, unless a tax treaty gives less |
Since 8 August 2023 Russia has suspended the main articles of its tax treaties with 38 countries, so treaty rates do not apply to shareholders from those countries.
Dividends to foreign shareholders
If a shareholder is from a country Russia treats as unfriendly and the payment exceeds RUB 10 million a month, about $117,800, dividends are credited to a special rouble type C account at a Russian bank or paid to another account with Ministry of Finance permission. The rule was introduced by Presidential Decree No. 95 of 5 March 2022.
Protection of money on the account
Funds of companies in the unified register of small and medium-sized businesses are insured by the Deposit Insurance Agency up to RUB 1.4 million, about $16,500, per bank. Large companies have no such protection.
How the opening works
- Company registration. If the company does not exist yet, we file with the tax service; electronic filing is free.
- Bank choice. We pick a bank that works with the shareholders' citizenship and the currencies you need.
- Compliance file. Documents, business description and proof of the source of capital.
- Bank visit. The director attends in person with a passport and a document confirming the right to stay.
- Bank decision. Timing depends on the bank and the ownership structure.
What we do
We register the company if it does not exist yet, choose a bank that works with the shareholders' citizenship, prepare the compliance file and support the opening until the bank decides. We calculate taxes and the dividend route for your structure. The decision is always the bank's. Dollar amounts at the Bank of Russia rate of 06.10.2026, rounded up.
What we do
- Corporate account - opening assistance
See also
Personal account · Investment property · Country taxes · All country programs
FAQ
Can a foreigner open an account for a Russian company?
How much does company registration cost in Russia?
Why might a Russian bank refuse a company?
Is a company's money insured in a Russian bank?
How are dividends paid to a foreign shareholder?
What taxes does a Russian company pay in 2026?
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