According to Russian legal norms, residents of the country who are legal entities or individuals engaged in individual entrepreneurship are required to draw up a transaction passport when carrying out transactions in foreign economic activity.
Instructions
Step 1
The transaction passport must be drawn up under those contracts that provide for payments and transfers to the resident's accounts for goods imported or exported to / from the territory of the Russian Federation, for work performed / services rendered; and also, when these residents provide loans in foreign or Russian currency to non-residents.
The registration of the transaction passport is carried out by the bank containing the resident's accounts, for which settlements are carried out, at the request of the resident himself, expressed in documentary form (application).
Step 2
In order to issue a passport of the transaction, the resident is obliged, no later than the first foreign exchange transaction under the contract under discussion, to provide the bank with the documents for drawing up the passport of the transaction. The list of documents includes: forms of the passport of the transaction, filled in and certified accordingly; an agreement on the basis of which all foreign exchange transactions will be carried out; permission to conduct foreign exchange transactions under the contract, obtained from the relevant foreign exchange control body.
Step 3
There is a limited list of situations in which a transaction passport is not required, despite the fact that the resident carries out the above actions in the framework of foreign economic activity. Such cases include situations when the total amount of all payments and transfers under the concluded contract (agreement) does not exceed 50,000 US dollars in ruble equivalent at the exchange rate on the day of conversion, or if we are talking about a loan agreement for a total amount of not more than 5,000 dollars USA in ruble equivalent on the day of conversion.
