Foreign companies will find it easier to register in Russia
President Vladimir Putin has signed a law amending the Tax Code that optimises the procedure for registering foreign companies for tax purposes in Russia when they open an account with a Russian bank. The law requires tax authorities to register foreign companies that open accounts with Russian banks within five days of receiving an application from the relevant bank.
The new procedure will come into force on 1 September 2026, giving banks and the Federal Tax Service time to adapt their internal processes and data systems.
Once the amendment comes into force, foreign companies will no longer be required to submit an application for tax registration to the tax office themselves.
Whereas previously non-residents used to open branches and offices in Russia, since 2022, due to sanctions pressure, many foreign companies (mainly from friendly countries) have only been opening accounts with Russian banks. These companies open such accounts, for example, for the purpose of receiving payments and crediting payments from Russian customers.
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05.12.25