Bellerage Alinga

The limit for opening the passport of deal for foreign exchange operations will be higher

The limit for opening the passport of deal for foreign exchange operations will be higher

In 2016 at a meeting with business community Vladimir Putin promised to consider the issue of increasing the limit for opening a passport of deal for currency transactions. Now this limit is $ 50,000, and entrepreneurs asked to raise it up to $ 100,000. The Central Bank made a compromise decision - $ 75,000.

With this decision the number of passports will decrease by 6%. The government did not go for a more significant increase in order to avoid excessive withdrawal of funds abroad.

According to experts, more benefits for business could have been brought by simplification of passports opening procedure, where the delay may result in an administrative fine of up to 50,000 rubles.  In addition, such changes could make it easier for small companies to enter the foreign market and interact with new suppliers