Narodniy Credit Bank functions as a currency exchange control agent and exercises control over the Clients’ compliance with the currency legislation effective in the Russian Federation.
Qualified specialists of Narodniy Credit Bank having good experience in the field of currency exchange control render services on execution of papers, as well as consulting services in the course of the Clients’ currency transactions in foreign currency and Russian Rubles:
- Free consultations on the currency legislation to be given to clients at any transactioning stage including analyses of complex and non-standard situations;
- assessment of conformance of the contract terms and conditions and the effected currency transactions to the effective currency exchange control standards;
- Analytical activities with any types of documents (including draft documents) envisaging execution of currency transactions that helps to avoid potential breaches of currency legislation:
- Contracts for delivery of goods;
- Contracts for performance of works, rendering of services, data communication, and transfer of intellectual activities outputs;
- Contracts of loans between residents and non-residents;
- Documents serving as a basis for effecting non-commercial operations, currency transactions between residents and other currency transactions.
- Registration of transaction IDs within a working day, and also in the presence of Client and in the Client’s name;
- Registration of transaction IDs under the contracts, which were earlier serviced in other authorized banks;
- Issuance of transaction IDs’ data certificates to Clients;
- Consultations on the validity / non-validity of receipts / non-receipts of foreign exchange earnings /goods;
- Regular and timely provision of Bank Clients with information on all changes in the effective currency legislation.
Employees of the Currency Exchange Control Department in the Bank keep increasing the level of their competence on a regular basis taking part in seminars and meetings with representatives of the Central Bank of the Russian Federation.
List of Basic Normative Documents:
- Federal Statute as of December 10, 2003 173-FZ named Foreign Exchange Control Law of Russia;
- Instruction ¹ 117-I of the Bank of Russia as of June 15, 2004 named Submission of the Documents and Data on Execution of Currency Transactions to Authorized Banks by Residents and Non-Residents, Procedure of Accounting the Currency Transactions and Execution of Transaction IDs by Authorized Banks;
- Instruction ¹ 111-I of the Bank of Russia as of March 30, 2004 named Mandatory Sales of the Part of Foreign Exchange Earnings in the Internal Currency Market of the Russian Federation;
- Regulations ¹ 258-P issued by the Bank of Russia as of June 01, 2004 named Submission of Supporting Documents Associated with Execution of Non-Resident International Contract Currency Transactions and Data to Authorized Banks by Residents, and Execution of Control over the Currency Transactions by Authorized Banks.
Phone of the Currency Exchange Control Department: +7 (495) 959 17 90, extension: 251, 233
