Resident and non-resident
Resident and non-resident are statuses in currency control. Residents (Russian legal entities and citizens of Russia) must comply with currency law when settling with non-residents (foreign counterparties): register contracts and repatriate proceeds.
The status of the parties determines the requirements for formalising a foreign trade deal and for currency control. Correct classification is important to avoid penalties for breaching currency law.
We will support the currency control of your deal.
Related terms
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