Individual Entrepreneur in Russia

Hello,

There is an Individual Entrepreneur in Russia, who is primarily working with clients in US and UE, who is considering opening accounts in USD & EUR in revolut.

Would appreciate answer to the questions below

  • is it possible/viable?
  • does revolut perform currency control (валютный контроль) - an attempt of Russian Government to control the inflow of foreign currency?
  • given that taxes needed to be paid in RUB, what is the workaround given that AFAIA there is no way to open a RUB account in revolut? I guess a quick answer would be to pay from EUR/USD account, but I am not sure how it will work given that with currency conversion it will be difficult to pay the exact amount needed by the taxman

thanks in advance for your answers

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unfortunately revolut is still only available to EEA+CH residents.

the authenticity of the claims from the media about expansion to Russia have been denied already.

However, we’re working on our global expansion :slight_smile:

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thank you, @alejandro.mery & @AndreasK! Nikolay Storonsky said that Revolut should come to Russia in the 4th quarter later this year. Does this estimate still hold?

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link?

20

sorry, it’s hidden - might be a good idea to update the way links are rendered. and btw video is in Russian. this is the explicit link https://www.youtube.com/watch?v=srX8NrtZg7k&feature=youtu.be&t=134
image

that’s one hell of a long interview (50m) without auto-translated subtitles :frowning:

yep, it is long. I put it at the place, where NIkolay says: we have not opened in Russia, but planning in the 4th quarter, now in the process of acquiring license & integration. please add subtitles + autotranslation - sorry cannot seem to do it for you.

thanks! I didn’t know how to do it but I got the english subtitles now.

gear > subtitles/cc > autotranslate > english

very interesting they are also applying for the banking licence in RU. Text version available

@AndreasK if the big boss himself has made the announcement it can’t be called fake news :wink:

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As I said, we’re working on our global expansion. However, the articles states that we’re already live there which is not true ;p

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is there an official public article where to read the current state of the world domination strategy and plans?

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Interesting interview. Thanks for link. No subs were needed for me. Handy to know russian :slight_smile:

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Can I open a Revolut account if I have a UK phone number, but I’m a resident of Russia?
I work for the US company and I get paid to my local USD account in one of the Russian banks. But this is not very convenient, and I want to start uring Revolut for this kind of operations.