Russians abroad allowed not to report on foreign accounts

Photo: depositphotos.com

The Ministry of Finance of Russia decided to further soften the currency control legislation in that part, which refers to the reports on foreign accounts. This was told by the deputy head of department Alexey Moiseev.

When in the 2018 year, all citizens of Russia (even those who constantly live abroad) automatically become currency residents, only those who have spent more than 183 days in Russia for a year will have to report. In the original draft of the bill, the Ministry of Finance proposed to demand a report from those who had been in Russia for more than 3 months.

Under the current law, only those Russians who live in Russia permanently are considered currency residents. If a person has lived abroad for a year, he loses his status and no longer has to report on his foreign accounts. But even if the Russian returned to Russia on 1 day, he again becomes a resident - the year begins anew.

Within one month after returning to Russia, a currency resident must report on the opening, closing and change of account details in foreign banks. Annually it is necessary to report on the movement of funds on the accounts.

Read also on ForumDaily:

How to get out of Russian citizenship to those who live abroad

Russia left without payment of pensioners abroad

Russians must notify marriage and birth of children abroad

Do you want more important and interesting news about life in the USA and immigration to America? — support us donate! Also subscribe to our page Facebook. Select the “Priority in display” option and read us first. Also, don't forget to subscribe to our РєР ° РЅР ° Р »РІ Telegram  and Instagram- there is a lot of interesting things there. And join thousands of readers ForumDaily New York — there you will find a lot of interesting and positive information about life in the metropolis.