The Central Bank of Russia has revised maximum amount of monthly remittance for physical entities labor migrants towards 50,000 U.S. dollars with opening a bank account.
The previous maximum amount of monthly remittance for physical entities with opening of a bank account was 10,000 U.S. dollars and 5,000 U.S. dollars without opening a bank account
Now residents of Russia and non-residents from friendly countries, including nationals of Tajikistan, may send through money transfer systems from Russia to their countries up to 50,000 U.S. dollars with opening of a bank account.
Meanwhile, the maximum size of monthly remittance without opening of a bank account remains the same – 5,000 U.S. dollars.
Information posted on the Russian Central Bank’s official website, says labor migrants are allowed to transfer funds from their Russian accounts abroad on a monthly basis in rubles or in foreign currency in the amount equivalent to not more than 50,000 U.S. dollars.
Non-residents from unfriendly countries working in the Russian Federation under an employment contract now may transfer money from their Russian accounts abroad not only in currency but also in the Russian rubles. The remittance amount may be equal to the amount of salary or payment for the performance of work and the provision of services and send these funds through money transfer systems without opening a bank account.
The new maximum amount of monthly remittance is reportedly set for the period until September 30, 2022.
