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:

Oil Export Duty Dollar is no longer popular in Russia Damage of Forests In Khabarovsk Region "Live Fast, Die Young" - 10 Russian Celebrities Gone Too Soon Football: CSKA Facing Tough UEFA Sanctions

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

search on the map
Miss Russia  Moscow Metro  Ingeborga Dapkunaite  Russian Avant-Garde  WTO  Komi Republic  energy drinks  Sukhoi Superjet 100  Craters  Russian Wood Carving  Heroism   Mercedes-Benz Fashion Week Russia  travel to Russia  Exhibitions in Moscow  Russian actors  Street Art  Moscow  Raisa Shabanova  Russian tourism  Easter  Trees  FBI  Russian Auction  Russian tourist destinations  Russian wins  Russian Cinema  Russian regions  Sergey Shekhovtsov  Moscow Museum of Modern Art  Tourist Tax   the Bolshoi Theatre  Russian circus  Festivals in Moscow  Tula  Vitaly Milonov  Cancer  Russian business  Neva Travel Agency  physics  Murmansk  Novgorod Region  Russian Art Collectors  Ilyushin Finance  Rostov  Streets Theatres  Moscow hotels  Exhibitions in Saint Petersburg  St. Petersburg  Izhevsk  Russian national team 

Travel Blogs
Top Traveling Sites