Opening Accounts in Banks and Payment Systems
When choosing a financial institution, it is important to consider client requirements, the country of incorporation, foreign exchange control specifics, and potential blocking risks.
The account opening procedure may include a preliminary compliance check, preparation of the document package in accordance with KYC/AML requirements, a video conference with bank representatives, as well as justification of the economic feasibility of the transactions.
Foreign companies, structures involving beneficiaries from Russia, and clients engaged in cross-border transactions are particularly carefully scrutinized.
Opening Accounts for Foreign Companies in Russian Banks
Foreign companies need a bank account in Russia for transactions with local partners, acquiring assets, and fulfilling tax obligations. The team at "Kadyrov, Drokonov & Partners" provides full support throughout the process: from selecting the appropriate bank and preparing the documentation to passing the compliance check and registering the organization with tax authorities.
Jurisdiction Russia
Contact us
Leave a request and our lawyers will contact you shortly to provide a consultation on your issue.
Why Choose Us?
20+
Jurisdictions
800+
Satisfied Clients
Long-term Results
Our expert legal strategies streamline business processes and ensure desirable outcomes, even in complex litigation cases
Unique Legal Solutions for Every Jurisdiction
Our deep international expertise allows us to offer customized solutions beyond standard legal service packages
Industry Expertise & Recognition
Our specialists publish in leading legal journals, shaping industry trends and reinforcing their authority in the legal field
Collaboration with Market Leaders
We work with major corporations and key market players
46 years
Of Combined Experience
Related articles
All articles
Myths and Facts About the Digital Ruble
What is the difference between cash and non-cash money? Who issues cash and non-cash currency? And how does the digital ruble differ from non-cash funds?
How a Contractor Can Recover a Retention Payment Under a Contract for Work and Services
A guarantee retention is a portion of the payment under a contract for work and services that the client withholds from settlements with the contractor for the duration of the warranty period for the quality of the completed work. As a rule, a few percent of the contract price is withheld, and the amount and conditions for its return are specified in the contract. In practice, the contractor receives this money with a delay — after the agreed warranty period has expired or after other conditions have been met (for example, the commissioning of the facility), provided that the client has no claims regarding the quality of the work.
How to Recover Payment for Additional Work Under a Contract For Work and Services?
A contract for work and services assumes that the contractor performs the agreed scope of work for a specified price. However, in practice, additional work often arises that was not included in the original estimate or technical documentation. The issue of payment for such work frequently becomes a stumbling block between the client and the contractor. This article explains when the client is obliged to pay for additional work, how to document it properly, and what actions the contractor should take if payment cannot be obtained.