Guidance Required for Opening Bank Account for Russian Company’s Branch Office in India

This query is : Resolved

(Querist)
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25 February 2026 We seek your guidance regarding the opening of a bank account for a Russian foreign company that has established a Branch Office in India.

Currently, the Indian Branch Office holds a bank account with a Russian bank. However, the said bank is unable to comply with and fulfill the statutory and regulatory requirements applicable to the operations of the Branch Office in India, including requirements under Indian laws and regulatory authorities.

In view of the above, we request your advice on the following:

Whether the Branch Office of a Russian foreign company is permitted to open and operate a bank account with an Indian bank;

The applicable regulatory framework, approvals, and compliances (such as RBI/FEMA requirements) for opening such an account; and

Any alternative solutions or practical approaches to ensure smooth compliance with statutory obligations in India.

We would appreciate your expert guidance and support in resolving this matter at the earliest.

Thanking you in advance.

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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25 February 2026 Legality: Fully permitted to open an INR Current Account with an AD Category-I bank in India.

Compliances: Requires RBI UIN, Apostilled Russian documents, and a local PAN card for the Branch Office.

Strategy: Prioritize banks like Sberbank India or Indian PSU banks with SRVA setups to ensure that funds from Russia can be received for local statutory payments without mid-transit blocks.

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