Can a sole proprietor operate without a current account?

Yes, a sole proprietor may conduct business without a current account. They may make cash settlements and pay taxes using payment slips.

However, operating without an account imposes a number of limitations:

• the amount of a single contract in cash settlements must not exceed 100 thousand rubles;
• many companies work only on a cashless basis;
• the bank may have questions about the source of funds;
• banks provide loans and leasing only in non-cash form.