Published: 28.12.2025
Russians are legally able to open accounts with foreign banks, but in practice they may face refusals linked to sanctions and source-of-funds checks. Transfers from sanctioned Russian banks may not be accepted by migration authorities in other countries, while holding another country’s residence permit or citizenship can improve the chances of opening an account.
According to the source, sanctions affect not only banking access but also the financial evidence used in relocation procedures. A transfer from a sanctioned Russian bank may not be accepted by migration authorities in procedures connected with residence permits or citizenship. This is especially relevant to Russians without an alternative foreign status who need both a bank account and proof of funds. People planning an investment-based move or needing to open an account before arrival should take this risk into account when choosing a bank and transfer route.