Currency Regulation

Everyday transactions related to payment for goods and services under foreign trade contracts, money transfers to foreign accounts, structuring intra-group transactions with foreign participation — this is just a small list of typical situations that require analysis from the currency legislation standpoint.

The recently emerged but actively developing Russian “counter-sanction” regulations, which have significantly changed the rules for many types of foreign currency transactions, have increased the importance of compliance with currency regulations and brought it to a new level. Many issues related to foreign currency transactions are now simultaneously regulated by both “classical” currency laws and the highly dynamic and loosely systematized “counter-sanction” legislation.

We stand ready to help you understand all features of the Russian currency regulation, from crucial issues of using foreign accounts and transferring foreign currency assets to close relatives and associates, to foreign currency aspects of corporate reorganization, intra-group loans, settlements with foreign counterparties under foreign trade contracts, and nuances of abolition of repatriation under foreign trade contracts and loan agreements.

Main Areas of Services

• Preparation of opinions on the application of currency legislation
• Structuring foreign currency transactions
• Reviewing transactions for compliance with currency legislation and Russian restrictive measures
• Preparation of requests and communication with authorized banks on planned and ongoing foreign currency transactions
• Communication with the Central Bank of the Russian Federation and other regulators on issues of currency regulation and control
• Development of internal policies and employee job descriptions to ensure compliance with currency legislation
• Analysis of documents for submission to authorized banks
• Support during foreign currency audits conducted by customs and tax authorities
• Defending clients in administrative proceedings in connection with non-compliance with currency legislation
• Challenging decisions of currency control authorities in court
• Defending company officials and individual entrepreneurs in criminal prosecution for violation of currency legislation