Currency control

Evrofinance Mosnarbank performs the functions of a currency control agent and monitors the clients’ compliance with the currency laws of the Russian Federation.

Highly-qualified specialists of Evrofinance Mosnarbank who have years of experience in the field of currency control render document execution services and provide consulting assistance to the Bank's clients performing currency transactions both in foreign currency and in Russian rubles:

• free consulting services to clients on the currency laws at any stage of the transaction including the study of complex and non-standard situations;
• conformity assessment of the terms and conditions of contracts and currency transactions with the current standards of currency regulation;
• analysis of any kind of documents (including draft documents) involving currency transactions, which helps to avoid possible violations of the currency laws:
  • goods supply contracts,
  • work, service, information and IP rights contracts,
  • loan agreements between residents and non-residents,
  • transactions involving investment transactions (sale and purchase of any kind of securities, sale and purchase of stakes in authorized capitals, etc.),
  • documents which constitute the basis for non-trading transactions, currency transactions between residents, and other currency transactions;
    
   
• acceptance of a contract (loan agreement) for accounting within one business day, as well as in the presence of the client;
• acceptance of contracts (loan agreements) serviced by other authorized banks for servicing;
• issue of transaction certificates to clients;
• problematic situation settlements with the Russian Federal Customs Service (including at customs stations when registering export/import cargos);
• consulting on the justifiability/non-justifiability of the inflow/lack of inflow of foreign currency revenues/goods;
• advance notification of clients about expiry of the period established for the foreign currency keeping on a transit currency account;
• regular and timely information provision to the Bank’s clients about all the changes in the applicable currency laws.

The Bank's Currency Control Department specialists regularly participate in meetings with representatives of the Central Bank of the Russian Federation and other currency control bodies, as well as participate in meetings held by the Association of Russian Banks.

• Federal Law No. 173-FZ, dated December 10, 2003, On Currency Regulation and Currency Control
• Instruction No. 181-I of the Bank of Russia, dated August 16, 2017, On the Procedure for Submission of Supporting Documents and Information on Unified Accounting and Reporting Forms for Currency Transactions by Residents and Non-Residents to the Authorized Banks when Performing Currency Transactions, the Procedure for, and Period of Submission
• Guideline No. 4498-U of the Bank of Russia, dated August 16, 2017, On the Procedure for Information Provision about Violations of the Russian Currency Laws and Currency Control Bodies’ Regulations Committed by the Persons Performing Currency Transactions by the Authorized Banks and State Corporation "Bank for Development and Foreign Economic Affairs (Vnesheconombank)" to the Currency Control Bodies
• Guideline No. 4512-U of the Bank of Russia, dated August 30, 2017, On the Scope of, and Procedure for Information Provision by the Authorized Banks as Currency Control Agents to the Currency Control Bodies
• Guideline No. 111-I of the Bank of Russia, dated March 30, 2004, On the Compulsory Partial Sale of Currency Revenues on the Domestic Currency Market of the Russian Federation