What documents are required to open an account for Foreign Economic Activity?

Both individual entrepreneurs and legal entities may engage in foreign economic activity. To open a current account for an LLC or individual entrepreneur, you will need:

• Original passport 

For JSCs:

• Original passport of the head of the organization

• Charter/founding agreement and amendments thereto

• Documents confirming the election/appointment of the head and extension of authority

• Extract from the shareholders' register/other similar document certifying the rights of share owners

If you authorize another person to manage funds in the account: 

• Order/Power of attorney granting signing authority and the right to manage funds

• Original passport of the account signatory

The bank may request incorporation and other documents in order to comply with the laws of the Russian Federation and Bank of Russia regulations, including Federal Law No. 115-FZ.