Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS
russian visa

Why does a Sole Proprietor in Russia Need a Settlement Account?
June 3, 2018 17:29


Why does a sole proprietor in Russia need a settlement account?

The sole proprietor does not need to open a settlement account. However, often, especially when a businessman aims to have rapid growth of the company and plans to enter into cooperation with other big companies, the settlement account will be an important element of success.

How Much does the Settlement Account in Russia Cost? 

The purpose of settlement account is to be a convenient tool for running your own business. It is used by sole proprietors for control, as well as by the tax department together with off-budget funds for blocking activities and drawing up the fines.

Criteria for Choosing a Bank to Open a Settlement Account in Russia

What one can do with the settlement account:

  • use non-cash transfers,
  • accept the transfers from other companies and legal entities,
  • pay taxes,
  • pay contributions to funds, etc.

But remember, that it is better not to use this account same way as you use your personal bank account. Otherwise, the tax authority, when verified, may become confused, and make you pay an additional 13 percent of income tax.

If the entrepreneur adds extra online banking service to his account, then he can use it directly from the personal computer.

Legal Services in Russia

Our attorneys offer various legal services for international clients interested in opening or developing business in Russia.
We have a profound experience in legal advice and interaction with government agencies.
Our attorneys in Russia offer the following services:
- Written legal advice on Russian legislation – from $80
(when buying a subscription for 2 or more consultations per month - $70)
- Legal support for subsidiaries / branches and representative offices
- Registration services (registration, modification, liquidation of subsidiaries / branches and representative offices)
- Accounting services for subsidiaries / branches and representative offices

Contact us

Author: Anna Dorozhkina

Tags: Legal Services in Russia Russian business Settlement Account in Russia   

Next Previous

You might also find interesting:

The Volume Of Railway Transportations Between Russia And China Increased More Countries Join Sanctions Against Russia SWIFT Defies Calls to Disconnect Russia Non-office Specialists In Demand Exiled Chichvarkin won't go back to Russia

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

search on the map
Fairs in Moscow  Inclusive Schools  the Crimea  Russian Photographers  Mortality Rate  Russian Cinema  Heroism   Demographic Situation  Nature Reserves  Vladivostok  Beringia  Russian regions  Helena Blavatsky  St. Petersburg  Bagration  Russian business  Alexander Mitta  World Bank  Russian Music Instruments  Bruno Freindlich  taxi call buttons  Russian opera singers  inventions  Russian medicine  Alexander Rukavishnikov  Kseniya Boguslavskaya  Lipetsk Region  Arkhangelskoye Museum Estate  Sergey Prokofyev  Museums of Russia  Krasnodar Territory  Olympiad  Russian tourism  Festivals in Moscow  Bolshoy Theatre  Mercedes-Benz Fashion Week Russia  Exhibitions in Moscow  Chelyabinsk Region  Benfica  travel to Russia  Russian parliament  Aseev Manor  public transport  Romanovs  Russian biologists  Moscow airports  New Museums  Suzdal  book hotel in Samara  Moscow 

Travel Blogs
Top Traveling Sites