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 Anti-crisis Plan Will Deprive Rosneft Of NWF Money Domodedovo has a problem Bulgaria Ship Accident. Corruption and Indifference Played Their Roles Lavrov Talks About Sanctions eBay Conducted a Study of Internet Exports of Tangible Goods From Russia

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share


search on the map
Dmitry Khvorostovsky   Graffiti  Yegor Letov  Tretyakov Gallery  Russia 360  Active Citizen  Sports Facilities  Mercedes-Benz Fashion Week Russia  Arkady Rylov  Russian National Parks  Borders  Russian musicians  Russian army  Russian singers  Silicon Valley  Unusual Monuments  Jewish autonomous region  train tickets Russia FIFA  Russian Cinema  Mikhail Frolkin  Yury Kosagovsky  Moscow  Pobeda  Skopin  Elem Klimov  sputnik  Natalka  Sochi  tourist cards  Russian tourism  Yury Sobolev  Russian business  The Bolshoy Theatre   Russian Literature  Petrozavodsk  Russian history  Maria Savinova  Exhibitions in Moscow  Innovations  Russian Composers  Exhibitions in Moscow Region  Dagestan  IT  St. Petersburg  Installations  incident  Arkhangelsk region  poll  Kaliningrad  Archeology 

Travel Blogs
Top Traveling Sites