Deposits in foreign banks at interest: what makes deposits in foreign financial institutions attractive. Advantages and disadvantages of deposits in foreign banks Rates in foreign banks

Russians who do not trust the Russian banking system, can deposit their funds in almost any foreign bank. But, having learned about the conditions for opening an account, many will most likely refuse this procedure. In order to open a deposit abroad, you need to have serious reasons - "increased" wealth and a transparent financial biography.

Possibilities

Now nothing prohibits Russians from opening an account (deposit) in a foreign bank. The foreign exchange regulation law, updated last year, says that an unlimited bank account can be opened in any country that is a member of the OECD (Organization for Economic Cooperation and Development) or the FATF (Development Group financial measures anti-money laundering).

According to the same law, accounts in countries that are not members of these international organizations can be opened in the manner prescribed by the Central Bank. In March 2004, the Central Bank issued Instruction No. 1411-U, which says about the obligation to pre-register such accounts or deposits. "But the registration procedure has not yet been established by the government and the Central Bank," says the consultant. legal company Roche & Duffay Sergey Budylin. Therefore, formally, being guided by the principle "everything that is not prohibited is allowed", you can open an account in any country without restrictions. "However, it is not a fact that this is how the courts will interpret the law," Budylin added.

The only condition required by the law is that a Russian resident who has opened an account in any foreign bank is obliged to notify about it within a month. tax office at the place of their residence. You also need to inform the tax authorities about closing an account abroad.

And in order to avoid the temptation to bypass the tax authorities, the law obliged Russian banks require citizens wishing to transfer funds to an account in foreign bank, certificate of notification of the tax office (or certificate of registration of the account). Banks that do not want to lose their license with the wording “for money laundering” will not undertake to transfer your money abroad without this piece of paper.

In general, the total fight against money laundering leaves bank customers less and less opportunities for anonymity. This especially affects the order of registration of numbered invoices. Dmitry Kizenkov, Deputy Manager of the Cyprus branch of Promsvyazbank, notes: “The current Cypriot legislation prohibits local banks from opening numbered accounts. Moreover, if funds are received in favor of a Cypriot bank client, but there is no information about the sender in the payment instructions (or there is some client code, as is practiced in some Swiss banks), the Cypriot bank has the right to credit the client's account with money only after it receives from the correspondent bank exact information about the sender of the funds. "

Kizenkov noted that Swiss banks have not abandoned the practice of opening numbered accounts for their clients. Moreover, transfers from numbered accounts within Switzerland are allowed without restrictions. “However, cross-border transfers will require disclosure of the account holder anyway,” he says.

Formalities

Despite the fact that foreign banks scrupulously select clients, Russians have a chance to open an account in almost any country. Unlike residents or citizens of some countries, with which most foreign banks prefer not to do business. As a rule, these are countries included in the FATF blacklist or offshore, as well as states with an unstable political situation or in a state of civil war.

There are also banks that are ready to deal only with residents of certain countries. The bankers explain that in this case it is not a matter of suspicious attitude towards Russians, but of the policy of a particular bank. Sergei Budylin notes that Swiss bankers have no prejudices towards wealthy Russian clients, but difficulties may arise when dealing with British banks. But in general, Dmitry Kizenkov notes, if a client wants to place a very large sum, for example, $ 1 million, it can be met if the other conditions are met.

And a lot of formalities will have to be done. A Russian who wants to open an account in a Swiss, English, Turkish or any foreign bank should pay attention to the fact that the bank will require detailed information about a potential client.

Dmitry Kizenkov notes that there are practically no significant differences in the procedure for opening an account in a foreign bank and in a branch of a Russian bank abroad - the procedure and requirements will be almost identical, including the basic requirement “know your client”. To open an account, the client will have to fill out a questionnaire, where he will provide all the data about his place of birth, residence, work, contact information... Information about the place of residence will have to be confirmed by documents - as a rule, these are payments for utilities written out in the name of the client.

The bank will also require letters of recommendation. “Recommendations can be given both by a well-known bank in which a client is served in Russia, and by an employing company,” notes Pavel Neumyvakin, Chairman of the Board of Uniastrum Bank. “It’s best if the employer is a well-known company, and the bank that provided the recommendation is included in SWIFT (so you can quickly contact him),” says Kizenkov. An ideal, but not mandatory option is to add to the listed recommendations a letter from the client of the bank in which you wish to open an account.

General manager PJSC Bank Societe Generale Vostok Michel Bricou says that in order to open an account abroad, a client who applies to the Russian branches of BSGV must provide copies of their passports (domestic and foreign), a certificate from the place of work and fill out an application for opening an account.

Mediators

An account in a foreign bank can be opened by contacting the bank directly (including through a bank representative office in Russia) or through intermediaries. Such services are provided by both some Russian banks (especially within the framework of private banking) and Russian and foreign law firms. Bankers believe that intermediation by firms is best avoided. “The firm must act on behalf of a Russian resident who wants to open an account abroad. In practice, it is very difficult to check the activities of an intermediary firm, ”says Pavel Neumyvakin.

“If an individual who wants to open an account in a foreign bank acts through an intermediary, no one guarantees that information about your account will not go to the side,” Dmitry Kizenkov said. He notes that recently many foreign banks have opened their representative offices in Russia, and it is best for anyone who wants to open an account to apply there.

Sergey Budylin objects that a good intermediary company will be able to competently recommend a suitable bank to the client, advise on legal and tax situation in the country. He noted that usually European bank additionally takes care of the security of transactions carried out by foreign clients. “The bank agrees with the client on how each order for transactions on the account will be confirmed. For example, an order sent to the bank by fax may contain a code word or be duplicated by the client's personal call, ”says Budylin.

Subsidiaries or representative offices of foreign banks in Russia also advise clients wishing to be serviced abroad. Michel Bricoux, General Director of Bank Societe Generale Vostok, says that opening accounts for Russian citizens abroad is one of the services provided by BSGV in 80 countries of its presence. “Together we define the goals that a person sets for himself, and depending on the result, we make him an offer that would best meet his needs. The terms for activating the account depend on what question the client came to us with and in which country we open an account, ”says Briku.

Money

As for the amount to apply to foreign bank, here everything is very individual, but almost always expensive. Swiss banks specializing in private banking usually do not work with clients wishing to place less than $ 100,000.

“The same can be said about many banks in Europe,” recalls Sergei Budylin. According to him, you can find a serious bank that will agree to open an account for a private foreign client for 50 thousand euros (dollars), but a smaller amount is unlikely to interest anyone in Europe.

In other countries, you can try your luck with smaller amounts. Branches of Russian banks abroad are also often picky. “In the Cyprus branch of Promsvyazbank, you can open an account without limiting the amount of the balance,” says Dmitry Kizenkov.

The costs of opening an account in a foreign bank, as well as of its maintenance, are usually rather big and often exceed $ 1000. And banks' requirements for a minimum account balance can amount to tens of thousands of dollars or euros.

“A client intending to open an account abroad needs to be prepared for world-class prices for banking services, which depend on each specific country,” says Michel Bricou.

It should be borne in mind that often foreign banks include a clause on the possible suspension of operations on the client's account in the deposit agreements if the information provided by them about themselves does not correspond to reality.

Translation

After an account or deposit is opened abroad, it remains to transfer money to it. The easiest and most straightforward way is to transfer money from a foreign currency account in a Russian bank. As we have already noted, a Russian bank will undertake this operation only after you present a certificate that the tax office knows about the existence of the account.

“The procedure for notifying tax authorities about accounts or deposits opened abroad has not yet been developed. Uniform form or the document does not exist today, it all depends on a separate inspection, ”says Sergei Budylin. You can bring money across the border in cash. But this method, firstly, is inconvenient (you cannot take out more than $ 10 thousand at one time through customs), and secondly, it will arouse the suspicions of foreign bankers.

After you have successfully opened an overseas account and transferred money to it, do not forget that by notifying the tax office about opening an account abroad, the resident automatically agrees to submit account statements at the request of the tax authorities. And once a year, resident individuals are required to submit to the tax office a report on account balances (in deposits) in banks outside the Russian Federation as of the beginning of each calendar year.

After simplifying the procedure for opening accounts abroad, given the instability of the Russian economy, our compatriots began to actively take an interest in the possibility of transferring part of their funds to foreign banks. The procedure for opening an account with a foreign financial institution is rather complicated. A number of questions arise: in which country can one open accounts, how to choose a bank, how to transfer funds, what documents will be required by foreign financiers, and, finally, how reliable is such placement of funds? We will try to answer all questions in this article.

Avoiding misunderstandings

Many Russians mistakenly believe that branches (representative offices) of foreign banks can be found in Russia. In most cases, the guilty of this delusion of the population are Russian bankers, who actively advertise the affiliation of their organization to international group... In fact, foreign banks do not work on the territory of the Russian Federation. By contacting, for example, Raiffeisenbank, you are contacting a subsidiary of an Austrian financial group, whose activities are regulated by the Central Bank on the basis of a license issued by it and Russian legislation. Therefore, you cannot protect yourself from political and so-called “country” risks. Subsidiaries cannot compare in terms of reliability with their "mothers", and in order to open an account in a foreign bank, as a rule, it is necessary to visit the country in which its head office is located (for example, Austria, if we are talking about Raiffeisen Zentralbank).

Can a Russian open an account abroad: legal basis

Ten years ago, in order to open an account abroad, a Russian citizen permanently residing in the territory of the Russian Federation required a special permit from the Central Bank, which was very difficult to obtain. Now the procedure has been greatly simplified. Federal Law "On Currency Regulation and currency control"(Article 12, clause 1.) allows all residents of the country to open accounts without restrictions in foreign currency in banks located outside the territory of the Russian Federation. However, some categories of citizens still will not be able to become depositors of foreign banks - complete list categories specified in the law No. 79-FZ "On the prohibition of certain categories of persons to open and have accounts (deposits), store cash and valuables in foreign banks located outside the territory of the Russian Federation" dated May 7, 2013.

We will tell you in more detail how to open accounts in practice.

The procedure for opening accounts in foreign banks

A personal account in a foreign bank can only be opened for saving funds, private investments and subsequent expenses: it is prohibited to use the account for doing business. The deposit registration procedure usually takes from 1 week to several months. In this case, you can choose 1 of 2 ways:

1. Come to the country in person and visit the bank, taking with you required package documents and filling out registration forms in a foreign language. The bank will check all the data and then inform the foreigner about the possibility / impossibility of opening an account.
2. Contact intermediaries. There are many companies that will help open an account abroad for a fee (its size ranges from $ 200 to $ 12,000). To work with intermediaries, a potential investor will need to provide certified samples of his signature. The signature can be verified either at the consulate of the state where the bank is located, or at a subsidiary bank located in Russia (if such exists).

It is important to note that some banks refuse to open accounts if they do not communicate with the client at least by phone (Credit Suisse) or hold a meeting in Moscow (Deutsche bank, International Bank of Luxembourg, LGT bank). Raiffeisen Zentralbank insists on an interview with a bank representative and the provision of 2 letters of recommendation from foreign partners of a private depositor.

The most complicated procedure for opening an account is used by British banks. A foreigner may be required to have a lot of additional documents, for example, a recommendation on reliability issued by a Russian bank; paid utility bills, in which the actual address and surname of the depositor will be recorded; a letter of recommendation from an employer, etc.

You can replenish an account opened with a foreign bank either in cash or by bank transfer. A cashless transfer is impossible without providing the domestic bank with a notice of opening an account in a foreign bank with a mark from the tax inspection and a certificate of tax registration. When replenishing an account in cash, a foreign bank will ask you to provide documents confirming the legality of the origin of the currency.

You can manage an account in a foreign bank by:

• courier mail;
• facsimile communication;
• internet banking;
• bank card;
• checkbook.

Banks protect their depositors' funds by inventing special codes, ciphers and creating dedicated, secure communication channels.

We see that the process of opening accounts abroad cannot be called simple. Next, we will tell you what you should pay attention to when choosing a bank, and what package of documents may be required.

The minimum list of documents for opening an account in a foreign bank

When choosing a foreign bank, first of all, you need to find out how the deposit insurance system works in the country that interests you: the principles of operation of these systems are the same throughout the world, but the insured amounts can differ significantly. You should also clarify what documents the bank will require to open an account (you must choose the one credit organization, the requirements of which you can fulfill). As a rule, the minimum list includes:

• income statement for 6-12 months, certified by the tax office.
• notarized copies of the passports of the depositor and his spouse.
• certificate of family composition.
• receipts for payment of utilities.
• a police certificate stating that a citizen of the Russian Federation has no criminal record and is not under investigation.

If you have an open account with a Russian subsidiary of a foreign bank, you can contact the manager of this institution with a request to help you open an account: the existing links between the parent and subsidiary structure will help speed up the process. The manager of the Private banking segment can help with opening a deposit: he will not only recommend reliable bank, but will also tell you what documents should be prepared. His services will not need to be paid, and at the same time he will be able to provide you with comprehensive advice.

Please note that the minimum amount of the deposit and the minimum balance on it, set by banks in Europe and the United States for foreigners, is 50-300 thousand euros (US dollars). However, in offshore and Baltic banks, you can open a deposit in the amount of 100-200 euros (US dollars). Additionally, we suggest that you familiarize yourself with the average interest rates in foreign banks.

And in conclusion, we would like to mention one feature of owning an account in a foreign bank - in accordance with paragraph 2 of Art. 12 of the Federal Law "On Currency Regulation and Currency Control", each citizen of the Russian Federation must notify within a month tax authorities at the place of their registration on opening accounts with banks located outside the territory of the Russian Federation. At the end of each year, you will have to provide information about the balances on such accounts to the tax office. For violation of the law, a fine of up to 5,000 rubles is provided.

"Where is it profitable to invest money?" - this question is now more relevant than ever. Economic instability taught our compatriots to be financially accurate. There are options, it seems, and a lot. But, unfortunately, they cannot guarantee the depositor not only a profit, but, in some cases, even the safety of his funds. Manufacturing and stocks are too risky. Precious metals and antiques do not promise fast and high profitability, and they require a certain qualification from the contributor in this area. Banks remain. Over the past year and a half, rates on deposits in domestic banks have dropped significantly. However, there are also foreign banks. Compare.ru found out how attractive their offers are and who might be interested in them.

Abroad won't help us

To begin with, it is worth clarifying that foreign banks operating on the territory of our country, in fact, are officially Russian banks. You cannot open an account abroad through them. They can only give a certificate that you are a client of this bank in Russia. Now there are many law firms offering mediation in the opening of overseas accounts. They make out everything Required documents and send them to the bank for consideration, but the services of such firms are expensive (on average, from $ 1,000) and are targeted only at very wealthy clients. To open an account abroad without intermediaries, you need to contact the branches of the bank of your choice abroad. In theory, any citizen of our country can do this. Domestic laws do not prevent this. True, there is a caveat. A deposit in a foreign bank is possible only to save funds, but not in any way to carry out entrepreneurial activities. Also, according to the law, it is necessary to notify the Russian tax authorities about the desire to open an account abroad. It is quite difficult to comply with all the procedures, and the benefit, not the fact that it will be more than from a deposit in a Russian bank.

First, foreign banks, sadly, are not eager to attract our compatriots as clients. Many credit institutions simply do not accept money from Russian depositors. Those that accept may require additional documents: recommendations from the place of work or from Russian banks, a certificate from the tax service. In addition, a foreign bank can produce additional check"purity" of your savings through Interpol or FATF (Special financial commission on the problems of money laundering).

Secondly, the minimum deposit amount in foreign banks is much higher than in Russian ones. As a rule, it cannot be less than 10,000 euros. Sometimes it is several tens, or even hundreds of times larger. The latter applies, for example, to the well-known Swiss banks (the minimum deposit amount in them is 250-500 thousand dollars).

Now about the benefits. Deposits abroad are by no means a way to make money, but an opportunity to preserve savings. Interest rates on deposits there are significantly lower than in Russia. In Europe it is approximately 0.5-2%, in the USA and Canada - 1.5-3.5%. You also need to take into account that you will have to pay for opening and servicing a deposit in Europe significant amount... Opening and maintenance from 500 to 2000 dollars per year. And making payments from 30 to 100 dollars. In America, rates are lower, but still significantly higher than Russian ones. Naturally, such sky-high rates make small investments meaningless.

Who can benefit from

The main advantages of foreign banks are their reliability and confidentiality. Of course, the risk of losing your savings is still present, but traditionally it is believed that it is an order of magnitude lower than in Russian banks. The statement, at first glance, seems controversial, but if you remember what amounts of deposits are in question, then you have to agree with it. That is, deposits abroad may be of interest, first of all, to people who want to save the accumulated money. Moreover, the amount should be significant and greatly exceed 700,000 rubles. (the insured amount under the Deposit Insurance System).

Also, a foreign bank account can be useful for those who have large spending abroad. For example, tuition fees, purchase valuable papers foreign companies or the acquisition of real estate. It is not worth opening an account in a foreign bank for small purchases or making current settlements in a small amount. It is likely that the conveniences gained will not cover the cost of opening and maintaining an account.

As for confidentiality, in connection with the latest events in the world, no one can guarantee it now. However, the level of information security varies from country to country. The banks of Switzerland, Liechtenstein and Austria hold the palm in this matter. The most "open" from this point of view are the banks of the USA and Germany.

Where is easier

From the point of view of Russian depositors, the most attractive countries for opening an account are Switzerland, Austria, Liechtenstein, Luxembourg and Cyprus. Moreover, if the banks of the first four countries impose rather strict requirements on depositors, then Cypriot banks are loyal to potential clients from Russia. The latter also applies to the Baltic banks. Minimum deposit amounts in Cyprus and the Baltics are much lower than in Western Europe. Some banks in Cyprus and the Baltic countries have representative offices in Russia. Financial transactions these representations do not have the right to engage, but they will provide assistance in opening a deposit. The procedure is standard for all. Come to the representative office, fill out the necessary papers, which are sent to the head office of the bank, the application is considered there, and with a positive verdict, a current account is opened for you, to which you transfer money. In the case of a personal presence, there should be no special problems with opening a deposit in the banks of the Scandinavian countries and Hungary. Also, many banks in Germany and Denmark work with our citizens. Banks in Great Britain are considered the most closed for residents of Russia. It is almost impossible to open an account with them.

Deposits in foreign banks are a rather specific thing. Moreover, they are intended not for making a profit, but for preserving their savings. To make a profit, if we talk about investing money abroad, it is much more interesting investment funds and company. But that's a completely different story.

Russian legislation does not prohibit Russian citizens from opening accounts and deposits in foreign banks, although this was not always the case. In the West, private investors are not attracted so much accumulative conditions investments abroad, as much as the opportunity to diversify their funds by placing them in depositories with different levels of reliability. In this sense, Swiss banks, of course, have always been leaders in the safe storage of money and bank secrecy... Although according to statistics, Russians are no less interested in other European financial institutions, for example, in Cyprus and even in the Baltic countries.

Who needs a bank deposit abroad?

The reason for focusing on foreign accounts is not only following the adage “don't keep your eggs in one basket”. A lot of our fellow citizens do business with foreign partners, buy real estate abroad, send their children to study in educational institutions, and they themselves often go to different countries... It is quite natural that it is convenient for such people to keep part of their savings in foreign bank accounts.

We will not compare the degree of reliability foreign investments... Moreover, it is difficult to do this in our time. economic crises covering all world economy and even financial conglomerates with a long and impeccable history. We propose only to consider the question of how a Russian can open bank deposit abroad and how profitable it is.

It turns out that this process is not so simple. The easiest way is to open a foreign deposit to a person who has a residence permit in the country where the chosen bank is located, especially if the person works in foreign company... There are no problems with bank accounts for students studying in the West. Banks make decisions much faster on applications from businessmen conducting open and legal business with Western partners. But for other Russians trying to conclude an agreement with a bank abroad, the procedure is often delayed for a long time. Some of them find it strange not only the long check of documents, but the set itself necessary papers.

Features of opening a foreign deposit

Note that in each state with developed economies its own "anti-money laundering" law is in place to prevent the legalization of proceeds from crime. And the point is not even that citizens from Russia, with its high corruption component and shadow economy, are treated more suspiciously than any other European. It's just that the bank must check each of its new clients for reliability, and its source of income for legality. A serious lending institution must be confident in the "purity" of any money that goes to their accounts. In this sense, it is much more difficult to verify a Russian and the source of origin of his funds than a Westerner. Moreover, a fairly high threshold for the first deposit in a self-respecting bank weeds out citizens with low and even average earnings in Russia. Most Russians who want to open a deposit in the West are people with high and very high high income... Few of them are simple an employee with a "transparent" salary.

Therefore, the package of documents for opening an account abroad, in addition to the application and the depositor's questionnaire, sometimes includes quite exotic certificates that no one requires in our banks in order to conclude a simple deposit agreement. Of these, income statement natural person over the past few years, certified by the tax office, seems to be the simplest. Of the necessary, we list notarized copies of domestic and foreign passports, sometimes not only of the depositor, but also of his spouse. They may also require information about the absence of problems with the police, the composition of the family. In confirmation of living at the specified address, it is sometimes asked to attach an invoice for payment for utilities, issued in the name of the depositor.

In the process of collecting the necessary papers, the principle is traced - the higher the amount of the deposit, the more documents a serious bank asks for. Moreover, if the savings exceed the par value of 100 thousand US dollars. You can try to explain the origin of the smaller amounts in simple writing. If the potential client is a businessman, then you need more information about the business and the legal origin of the funds. Recommendations from Western business partners or other clients of the same bank are welcomed. It is good to have a bank account in the Russian subsidiary of a well-known foreign bank, whose favorable review can have a positive effect on the image of a citizen.

As you can imagine, it is impossible to quickly check such a number of documents. Therefore, the procedure is sometimes delayed for several weeks. Although, for example, Cypriot financial institutions and their offshore counterparts are easier to collect information. An employee of one of the consulting companies claims that if the verification has dragged on for more than a month and a potential investor is asked more and more supporting documents, then one should not hope that the process will end with a positive decision. It is not customary for Western banks to directly refuse an applicant. Rather, the person himself will refuse to continue further meaningless correspondence. This is how very often an attempt to open a deposit with major Russian officials and his close relatives, who are considered foreign public figures with a high degree of probability that they are close to corruption, ends.

How to open a deposit abroad?

But if the source of income of a foreigner does not cause suspicion and can be quite simply confirmed and verified, then expectations will eventually end with an offer to sign a bank account agreement with the bank. There are several ways to apply for a deposit abroad and sign an agreement for a Russian citizen in the future.

First, independently and remotely from Russia. This method is not always the cheapest and not the fact that it is the fastest and easiest. Because not every person is able to understand the peculiarities of the legislation of a foreign country and the requirements of a foreign institution. Although any bank is quite willing to enter into correspondence, both fax and electronic. Correctly certified documents can be sent by mail, some of them can be sent by fax or scanned online. But a citizen will need to sign the final agreement in person in the country where the bank is located after receiving consent. And this additional expenses for a trip, which does not always pay off with interest on the deposit.

The second way is communication through the official representative offices of banks in Russia, of which there are not many in Moscow. These usually do not conduct financial affairs with clients, but help them collect and send a package of documents. For wealthier depositors, appointments are made in Russia to sign an agreement with a bank employee who comes specially from abroad.

The third method assumes that the potential depositor is a user of the private services of a Russian bank that has connections with partners abroad. For VIP clients, the domestic bank organizes the process of opening a Western account, taking on the organizational side of the issue. But a citizen will be able to sign an agreement only by personally meeting with a representative of a foreign bank. This will happen either on the territory of another state or a bank clerk will come to Russia. As you understand, the service is available only for very wealthy people who are able to place more than a million dollars in a foreign bank.

There is one more opportunity to open a deposit. If a citizen can entrust his financial affairs to a consulting company, then in Moscow there are several of them specializing in opening accounts for Russians abroad. These usually have established ties with various foreign credit institutions. Therefore, consultants will not only help you choose a country, a bank and acceptable conditions for opening a deposit, but also speed up the process of collecting documents, even help you find a guarantor in the West, if necessary. These services can cost up to 1,000 euros, depending on the bank. The territory of the signing of the agreement also depends on him. Some people agree to the postal fax option.

A citizen of the Russian Federation, after concluding an account agreement, must not forget about compliance with certain legal norms. The Russian is obliged to notify the tax office within a month of the existence of a bank account abroad. Violation threatens not only with a fine of up to 5,000 rubles, but also with the refusal of the Russian bank to transfer money there. Top up foreign contribution most likely it is by bank transfer from your account at home. It is unlikely that it will be possible to do this in cash. Moreover, it is impossible to deposit cash in a serious financial institution such as a Swiss bank.

Foreign banks and contract terms

We do not undertake to judge why our people open deposits abroad, but most experts agree that it is more for the sake of saving funds than for increasing them. After all, rates in foreign banks are much lower than the interest on deposits in ours. Judge for yourself, the most high stakes we have up to 8 per annum interest on euro and US dollar accounts in not the largest institutions. Although the percentage is very different for different deposits even in banks from the TOP-20. For example, Promsvyazbank offers deposit products in dollars at 4.2% -7.5%. His colleague Sberbank is already setting 3.4% -4.15% per annum. Considering that it is charged on a very large sums or not in the most rated banks, let's compare these figures with foreign deposit rates:

Swiss Union Bank of Switzerland and Deutsche Bank - up to 3%,
Austrian Raiffeisen Zentralbank Osterreich and Valartis Bank - up to 3%,
Norwegian Nordea Bank Danmark - up to 4%,
Cyprus Marfin Bank - up to 4.5%,
Cypriot Bank of Cyprus - up to 6%,
Latvian ABLV Bank, AS - up to 6.8%,
Latvian Rietumu Bank - up to 8%.

Some large banks set lower interest rates for non-residents than for citizens of their country. In the west, the so-called indexed deposits with more high interest rates, which are usually called structured products... Such deposits involve investing part of the funds in securities.

If we take into account the expensive rates for opening and maintaining an account (which is almost never found in Russian banks for deposits), that the interest for conversion and cash withdrawal is commensurate with the deposit interest, expensive transfer to another account, then the question of the profitability of a deposit of up to 50 thousand dollars , in our opinion, disappears by itself. Although most of the rating banks do not accept a lower amount from foreigners. In this sense, the exception, perhaps, are offshore and Baltic financial institutions, in which the investment threshold either does not exist at all, or starts from $ 100 / euro.

Please note that some Russian banks have subsidiaries abroad. But deposit rates at the same Cyprus branch of Promsvyazbank is much lower than in Russia. Although, opening a deposit for a Russian in this institution is much easier. Note that it is almost impossible for a citizen of the Russian Federation to open a bank account in the UK without permanently residing in this country.

As for the deposit insurance system, let us say that in the EU countries it exists similarly to ours. But each state has its own sum insured and the procedure for its payment upon the occurrence of an insured event.

Amid instability in Russian economy our compatriots are increasingly turning to foreign banks to open deposits in foreign currency. Keeping money at home under the pillow and investing in real estate are highly controversial tools for preserving assets. Simplification of the procedure for opening deposits abroad, the emergence of excitement around the US dollar served as a green light for all Russian investors wishing to preserve, increase their savings and protect them from unfavorable conditions financial market RF. The process of opening an account with banks located outside of Russia raises a lot of questions from potential depositors. To remove some of the questions, you can first use the deposit calculator with interest capitalization on our website.

This article will reveal a number of the most relevant aspects:

• legal framework and legal subtleties;
• the procedure for opening an account;
• what documents will be required to create a deposit;
• how reliable is this placement Money for Russians;
• examples of the most promising foreign financial institutions.

Why do depositors choose foreign banks?

Opening foreign currency deposit in one of the foreign banks promises potential clients a number of additional benefits:

• high level of reliability of financial and credit institutions;
• reimbursement of a higher deposit amount (up to 100 thousand dollars) in the event of bankruptcy of the organization (Russian legislation gives insurance coverage only 1.4 million rubles);
• deposit in foreign currency allows you to diversify your investment portfolio and protect assets from fluctuations exchange rates;
• profitability guarantee;
• the ability to choose the currency in which the financial reserve will be stored.

Placing their funds in accounts opened in foreign financial institutions is especially beneficial for those who work or study abroad, plan to purchase real estate or open a business. The disadvantages include significant maintenance costs, large restrictions on the minimum deposit amount, a large package mandatory documents, small interest rates.

Legal basis for opening a deposit in a foreign bank

A decade ago, it was extremely difficult to open a deposit abroad, since in order to perform this action, it was required to obtain permission from the Central Bank of the Russian Federation. Since the entry into force of Law No. 173-FZ "On Currency Regulation and Currency Control", this procedure has been significantly simplified. This regulation gives all residents the right to open accounts abroad. List selected categories persons who are prohibited from creating deposits are given in Law No. 79-FZ.

How to open a deposit in foreign currency

To open a deposit in a foreign bank, the following documents are required:

• certificate of family composition;
• certificate of no criminal record;
• tax return for the last 6-12 months with a mark of the Federal Tax Service Inspectorate;
• a copy of the passport, certified by a notary;
• receipts for payment of utility bills and other documents at the discretion of the bank.

After considering the provided package of papers, it is necessary to sign an agreement with financial institution... For this, one of 3 schemes can be used:

• during a personal visit to the office (for this, the depositor will need to visit the country where the bank is located);
• through a representative office located on the territory of the Russian Federation;
• through the services of intermediaries.

Servicing in foreign banks is carried out on the following conditions:

• Top-ups are allowed both in cash and by bank transfer;
• You can manage your deposit using a bank card, Internet banking, checkbook, fax, postal courier;
• The account can be used to manage personal finances, except for entrepreneurial activities;
• The registration process takes on average from 1 week to 2-3 months;
• Confidentiality, security of transactions and transfers are ensured through the use of codes, ciphers, dedicated communication channels;
• A citizen of the Russian Federation is obliged to notify about the fact of opening an account abroad tax office... At the end of each tax period, it is necessary to report to the IFTS about the balances on such accounts. For violation of this requirement, a fine of up to 5,000 rubles is provided;
• Deposit rates are on average 1-2% per annum (in rare cases, the rate can reach 5-6%);
• The minimum threshold for depositing funds is 10-25 thousand dollars;
• The minimum insured amount in the event of bankruptcy of a bank in the EU countries is 20,000 euros (in some countries, for example, in Lithuania, this value reaches 100,000 euros).

Where to open an account abroad?

Foreign banks do not offer such high rates to save savings in comparison with Russian organizations. That is why such a solution is suitable for preserving and accumulating assets for the short and medium term.

For a long time, deposits in Cyprus were the most popular among depositors. However, due to the problems that have arisen in this country in last years and associated with the loss of their savings by the depositors, these financial and credit institutions have become much less trusted. Today, deposits in the banks of the Baltic countries are in the greatest demand. Deposits in Germany, Austria, Denmark are no less popular with our compatriots. Swiss banks do not weaken their leading positions in terms of reliability and popularity among foreigners.

By size interest rates the following countries are leading:

• Cypriot. For accounts in US dollars with Bank of Cyprus, Cyprus Popular Bank Ltd., AlphBank, you can get a rate of up to 4.5% per annum;
• Latvia has the most profitable terms for depositors offered Citadele (up to 3%) and BIGBAN (up to 2.65%);
• Among American, the most popular among our compatriots are Jones Vanguard Croup and Edvard, which offer rates up to 2.96% per annum;
• Among the British, the Bank of London and the Middle East is leading, offering to open a deposit at 2.8% in pounds sterling;
• In the Italian ING Direct Italia, you can open a deposit at 1.4% in euro;
• In German, Swiss, Swedish, Dutch financial institutions, it is permissible to open a deposit with a rate of 1-1.25%.