Opening bank account for a foreign organization

Due to recent amendments to the legislation on tax registration of foreign organizations, we decided to make a brief overview on opening accounts in Russian banks for foreign companies, as well as tax registration related to this procedure.

1. Registration with the tax authority and obtaining TIN (Taxpayer Identification Number)

Required documents:

• Application for tax registration;
• Extract from the register of foreign legal entities’ country of origin;
• Document confirming its registration as a taxpayer in the country of origin indicating taxpayer code;

To open a new account in another bank, it is not necessary for this company to re-register in tax authorities.

1. Submission of necessary documents to the bank
2. The procedure takes at least 6-10 business days after the submission of necessary documents to the tax authority.