The Ministry of Finance decided to soften the foreign exchange controls for living abroad Russians

The Ministry of Finance of Russia plans to mitigate the amendments to the bill, which is aimed at simplification of currency regulation and control. About it “Interfax” said a source in one of the economic departments who are familiar with the new version of the amendments.

The Agency plans to release Russian citizens who permanently or temporarily live abroad, notices about the open foreign accounts and movement of funds on them, if their period of stay in Russia exceeds 183 days. The new version of the bill proposes to oblige Russian citizens who were not resident on January 1, 2018, no later than March 1, 2018 to notify the tax authorities about foreign accounts.

According to the current wording of the draft law citizens are not currency by residents, if you are constantly or temporarily living abroad not less than one year and not visited in this period the territory of Russia. In the new edition all the citizens of Russia will be the currency of the residents, said the Agency.

The previous version of the bill was published on the portal disclosure of draft normative acts in September. She offered to loosen control over foreign banking operations to citizens who reside in Russia for more than three months.

The new version of the draft law proposes to oblige the citizens within one month after the return to provide information about foreign accounts and transactions if they shut down such accounts more than three years before. From this duty it is proposed to release the Russians, who as of 1 January 2018 and has not returned to the country. In addition, the updated version offers to apply requirements on the accounts closed to December 31, 2014.