The Currency Regulation Law lays down a closed list of permissible credits to residents' accounts with banks in countries that do not provide for the automatic exchange of information with Russia.
Credits to a resident’s own accounts:
- transfers from own accounts with banks in Russia or outside Russia;
- crediting of funds in the form of the minimum deposit required by the rules of the bank concerned when opening an account (deposit);
- crediting of cash deposited in an account (deposit);
- crediting of funds received as a result of conversion operations using funds previously credited to such accounts.
Permitted transactions with other residents (individuals and legal entities):
- transfer of Russian currency from a resident’s foreign account to another resident’s account in Russia and from a resident’s account in Russia to a foreign account of another resident;
- transfer of Russian currency from a resident’s foreign account to a foreign account of another resident;
- transfer by a resident in favour of other residents via their foreign accounts of foreign currency not exceeding in one business day an amount equal to the equivalent of USD 5,000 based on the official CBR exchange rate set on the date the account is debited;
- transfer by residents of foreign currency from accounts held by them with authorised banks in favour of other residents who are their spouses or close relatives via accounts held with authorised banks or banks located outside Russia;
- crediting of wages and other payments in foreign currency outside Russia under employment contracts concluded with resident legal entities;
- bequeathing of foreign currency assets, inheritance of currency assets and transfer of currency assets by an estate to beneficiaries;
- gifting of currency assets to a spouse and close relatives.
Credits from non-resident individuals and/or legal entities:
- amounts of taxes refunded by competent authorities of the state in which the resident is staying;
- amounts of interest on balances in accounts with banks outside Russia;
- salaries of employees of official missions of the Russian Federation and missions of federal executive bodies outside Russia;
- salaries and other payments related to the performance of employment obligations by residents outside Russia under employment contracts with non-residents;
- payments made in accordance with decisions of courts of foreign states, with the exception of international commercial arbitration decisions;
- insurance payments, pensions, stipends, alimony and other social payments from non-residents;
- return of erroneously transferred funds and refund of amounts paid for goods and services purchased by a resident when they are returned to a non-resident;
- income from sales of precious metals recorded in residents' accounts with foreign banks which is paid by reason of the legislative requirements of a foreign state other than through accounts with authorised banks.
The list of permitted operations does not include, inter alia, credits of dividends, income from the sale or redemption of securities, coupons, income from the sale or lease of immovable property, etc.
However, there are no restrictions on the crediting of funds to brokerage accounts.