Remote opening of bank accounts now possible for businesses

Russian banks started to launch services for businesses to open bank accounts remotely. Legal entities, individual entrepreneurs and individuals who are engaged in private initiatives will be able to use this service.

When opening a bank account online it will be possible to reserve a bank account number immediately and to use it in the company’s documents.

Previously, the Central Bank prohibited bank account openings for new clients without their personal presence.

The exceptions were bank account openings with the use of the National Biometric System or bank account openings for current clients.

This new service is currently offered by VTB, Otkritie and other banks.

Bellerage provide business set-up services for foreign companies in Russia, including the necessary opening of bank accounts. When choosing a bank, we recommend to work either with international banks active in Russia (e.g. Raiffeisenbank, Rosbank (Societe Generale), etc.) or Russian state-owned banks (e.g. Sberbank, VTB, etc.). Russian commercial banks are at a higher risk to have their licenses withdrawn by the Central Bank.