Currency operations related to the movement of capital are foreign economic operations related to the export, import of goods, services, work, investments, lending, settlements on which are carried out as in the national, and foreign currency in terms exceeding 180 calendar days.
Currency transaction related to capital flows include:
1. Cash investments in the authorized capital of a non-resident in order to generate income and obtain rights to participate in management. Investments in the authorized capital of non-residents are made at their own expense residents.
2. Acquisition of securities and other money market instruments issued by non-residents. The acquisition of securities issued by non-residents and other instruments of the non-residents’ money market by authorized banks is carried out within the framework of the corresponding license for foreign exchange transactions (general or internal) of an authorized bank. An additional central bank license for these operations is not required.
The acquisition of securities and other money market instruments issued by non-residents is carried out in accordance with the legislation of the country of registration of the resident.
3. Provision and receipt of loans, loans in cash for a period of more than 180 days. These operations are carried out by authorized banks within the framework of the relevant currency license for operations with foreign currency in cases and in the manner established by law. An additional license from the central bank for these operations is not required.
4. The provision and receipt of deferred payment, as a rule, for a period of more than 180 days for the export and import of goods, works, services.
5. Opening of current currency accounts for residents in authorized non-resident banks is carried out with a central bank license and can be carried out in order to:
making settlements related to the implementation of production and economic activities in the territory of a foreign state; attracting a loan, a loan from a legal (physical) non-resident person; placement by legal entities and entrepreneurs of funds in a deposit account with a non-resident bank; maintaining outside the country a representative office, a branch of a legal entity, an authorized bank, a trading house; financing of specialized work, carried out outside the country (construction, installation, geological exploration, construction and repair and other work of a traveling nature); in the absence of the possibility of expeditious conduct of the above operations through authorized banks.
6. Cash transfers made in respect of payment for buildings, structures and other property acquired into ownership located outside the resident’s country of registration;
7. All other foreign exchange transactions that are not current.
Currency operations related to the movement of capital are carried out by legal entities and entrepreneurs, as well as authorized banks with a license, permit or registration certificate of the central bank.
The central bank has the right to refuse to issue this license, permit or registration certificate in the following cases:
submission of an improperly executed set of documents; presentation of inaccurate information; outstanding obligations to tax authorities or the central bank at the time of submission of documents resulting from a violation by a legal entity, an entrepreneur or an authorized bank of state legislation in the field of tax and currency regulation, including violation of the conditions of previously issued registration licenses for foreign exchange transactions related to capital flows.
The central bank has the right to issue a common permit for all entities to carry out a certain type of currency transactions related to capital flows.