How to open a credit organization

To open a credit institution (bank or non-bank credit institution), you must have a strong desire, decent authorized capital, crystal clear credit history. What else will be needed to open a CO?

You will need

• Collect documents for state registration of a credit institution with the Bank of Russia, as well as for obtaining an appropriate license for banking operations. The list of documents includes:

• - statement;

• - memorandum and articles of association of the organization you intend to open;

• - The original minutes of the meeting of the founders of the organization, which should include information on the adoption of the charter and a list of candidates for the positions of managers (including chief accountant);

• - certified copies of certificates of registration of founders (legal entities);

• - audit reports on the financial well-being of the founders (certified copies);

• - certificates of the absence of debts and obligations to tax authorities at all levels over the past 3 years (certified copies);

• - income statements of founders (individuals) endorsed by the tax authorities (certified copies);

• - questionnaires containing comprehensive information about candidates for positions (education, work experience).

Instruction manual

1

After the submission of these documents, you must give the Bank of Russia written confirmation of their receipt. Within six months from the date of submission of the documents, you should receive a decision on the decision (no more than 3 days should pass from the moment of its issuance). Have a meeting of the founders about getting a decree, make a new one or make adjustments to the old work plan of your CO.

2

Within a month, make a full payment of the authorized capital announced by you to the account opened by the Bank of Russia (in case of opening a non-bank credit institution, a correspondent account is opened). Get a certificate of state registration of KOs.

3

Submit to the Bank of Russia documents confirming full payment of the authorized capital. After 3 days, obtain a license from the Bank of Russia for banking operations (if a positive decision is made).

4

Suppose that in your KO there have been personnel shifts. Then, within 2 weeks from the date of changes in the composition of officials, notify the Bank of Russia of this and provide them with a new list with the application of questionnaires. Within a month, the Bank of Russia must notify you of its decision.