Foreign Exchange Control

When new economic relations are being shaped up, foreign exchange restrictions applicable within the Russian Federation are of utmost importance, since they are primarily aimed at ensuring economic safety, achieving sustainable national economic growth, curbing inflationary trends and eventually strengthening the country's positions within international community. Being a major bank of Russia, VTB exercises foreign exchange control over all types of forex transactions, including those executed under foreign trade contracts, lending and borrowing agreements, as well as under non-commercial deals.

Dedicated and highly skilled professionals of VTB render free advisory services to the Bank's customers on any stage of transactions they are engaged in. Relying on such recommendations, our Customers can enter into agreements on terms and conditions in harmony with applicable foreign exchange regulations. And once the agreements are signed, they can rest assured that their forex transactions would not violate any relative regulations and that they would face any problem while discharging contractual obligations and following forex control procedures.

Full array of services related to foreign exchange control are offered by all sub-offices of the Head Office and VTB branches.

Basic advantages offered by VTB in foreign exchange control

1. Forex regulation and control authorities highly esteem VTB activities as a foreign exchange control agent. VTB is a well-recognized leader in this sphere.
2. The Bank of Russia and other governmental bodies regularly invite VTB foreign exchange experts to draft laws and other regulations.
3. VTB maintains a long-standing and seamless cooperation with Russian foreign exchange authorities.
4. VTB assists its customers in dealing with the Bank of Russia and the Federal Customs Service of Russia; and renders free consulting on drafting customers' applications to these bodies.
5. The Bank renders free consulting to its customers on issues related foreign exchange control, including complicated foreign trade transactions.
6. Forex control documents are executed promptly and in compliance with regulations of the Bank of Russia.
7. The Bank's customers are regularly and duly informed of any amendment made to the applicable legislation of the Russian Federation.
8. The Bank holds regular seminars and workshops for its customers.
9. VTB agency charges are flexible and competitive. More favorable charges are offered to VIP customers.

VTB Documentary Business and Forex Control Division, located at 43 Vorontsovskaya Ul., can give you more detailed recommendations as to how to draft payment clauses of a contract in strict compliance with applicable Russian foreign exchange regulations, as well as recommendations on most favorable payment patterns and terms.

Documents to be issued by VTB under the forex control requirements:

Foreign Exchange Certificate (temporarily available in the Russian language only)
vohelp.doc
Certificate on Russian Rouble Entry (temporarily available in the Russian language only)
rfhelp.doc
Certificate on Settlement through Accounts Held Abroad (temporarily available in the Russian language only)
fhelp.doc
Certificate on Acknowledgment Documents (temporarily available in the Russian language only)
adhelp.doc
Passport of Deal under a Foreign Trade Contract (temporarily available in the Russian language only)
PS_po_vneshnetorgovomu_dogovoru.doc