The Federal Tax Service estimated the number of Russians with accounts abroad at about 700 thousand people.

By the end of 2024, the number of Russian residents with accounts in foreign banks reached approximately 700 thousand people. This was announced on March 30 by Deputy Head of the Federal Tax Service (FTS) Yulia Shepeleva.

"In 2024, there were about 700,000 residents who have accounts outside the Russian Federation," she said in an interview with RBC.

According to the agency, the number of foreign accounts in countries with which information is automatically exchanged has exceeded 2 million, an increase of 12% over the year. In 2022, this figure was 539 thousand citizens.

The Deputy Head of the Federal Tax Service stressed that the rate of self—declaration of accounts under the currency legislation is growing even faster - by an average of 31% annually. At the same time, the agency does not record the mass closure of assets abroad. According to Shepeleva, this indicates that Russians have adapted to the current conditions.

"If difficulties start somewhere, people and companies start opening accounts in another country as an alternative," she explained.

At the same time, an increase in the number of controlled foreign companies (CFC) was recorded. By the end of 2024, their number has increased by 18%. The tax service believes that such dynamics confirms the continued interest of Russian businesses in international operations, despite external pressure.

Do it yourself with accounts: the authorities will weaken currency control over foreign "subsidiaries" of Russian banks

How will this affect business and cross-border payments?

On March 29, the Federal Tax Service of Russia explained who could be affected by the blocking of accounts for failure to submit a tax return. The department noted that the possible suspension of account transactions does not affect all individuals who are required to file a declaration on the 3-personal income tax form. Transactions may be frozen if taxpayers have not submitted a declaration within 20 days after the deadline. At the same time, the Federal Tax Service notifies in advance of the upcoming blocking.

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