[ad_1]
A Qatar international bank, previously owned by Russia’s VTB and recently acquired by Lebanese and Indian shareholders, has advised our firm that it is now able to offer bank account opening services to Russian clients. The bank, CQUR, works closely with Qatari regulators.
Accounts may be established in Dubai, China, Hong Kong and Singapore, however the accounts can only be operated in Rubles, Chinese RMB Yuan or UAE Dirhams. Financial statements of the parent company must be provided. Individuals may not open such accounts unless a US$5 million deposit is made upon account opening.
However, the bank doesn’t require any corporate deposit amounts. Fees are chargeable as a percentage of transactions, and vary depending if money is remitted to the countries on the sensitive list (such as Russia) in which case a higher commission rate is chargeable.
The account opening procedure is quite complex and requires facilitation in China, Hong Kong, Dubai, or Singapore. However, Dezan Shira & Associates maintains offices in each of these jurisdictions and can assist.
Interested Russian clients can contact us at russia@dezshira.com to discuss the required procedures and for an introduction to CQUR.
Related Reading
About Us
During these uncertain times, we must stress that our firm does not approve of the Ukraine conflict. We do not entertain business with sanctioned Russian companies or individuals. However, we are well aware of the new emerging supply chains, can advise on strategic analysis and new logistics corridors, and may assist in non-sanctioned areas. We can help, for example, Russian companies develop operations throughout Asia, including banking advisory services, and trade compliance issues, and have done since 1992.
We also provide financial and sanctions compliance services to foreign companies wishing to access Russia. Additionally, we offer market research and advisory services to foreign exporters interested in accessing Russia as the economy looks to replace Western-sourced products. For assistance, please email russia@dezshira.com or visit www.dezshira.com
[ad_2]
Source link