Cross-border payments, foreign trade
Foreign-trade settlements, currency control, timelines, fees
What we solve
- Russian banks are cut off from SWIFT channels and hit by sanctions — a direct payment to a foreign supplier often gets stuck or bounced back.
- Currency control requires a correctly assembled package: contract, invoice, precise payment purpose — one error in the documents and the bank rejects the transfer.
- It is unclear which route and which currency (CNY, AED, USD, EUR, TRY, JPY) to use so the money actually reaches the counterparty instead of freezing in a chain of correspondent banks.
- Payment agents' fees and timelines are opaque and vary from route to route — it is hard to estimate the true cost of a deal in advance.
- When contract turnover exceeds the thresholds it must be registered with the bank, and missing the currency-repatriation deadlines risks penalties.
How it goes
- 01
Deal review and KYC
1–3 business daysWe review the contract and invoice, define the role (importer/exporter), run a compliance check on the parties, and select the currency and payment route for the counterparty's specific country.
- 02
Preparing currency-control documents
2–5 business daysWe put the bank package in order: invoice with currency, amount and purpose, the supplier contract, and the recipient's bank details. Where required, we assist with registering the contract under Russian currency-control rules.
- 03
Executing the payment via the route
2–7 business days (depends on the route)The payment goes through the selected payment agent or directly through a bank, depending on the route. We monitor its progress and stay in touch until the funds are credited to the counterparty.
- 04
Closing and deal reporting
3–10 business daysWe collect confirming documents, support closing the obligations on imports and the repatriation of proceeds within the deadlines on exports, and hand over a ready set for your accounting.
What we need from you
- The foreign-trade contract with the overseas supplier or buyer.
- An invoice stating the currency, amount, payment purpose and description of the goods/services.
- Bank details of the parties: the recipient's details (for importers) or your details and the volume of proceeds (for exporters).
- Completion of KYC/compliance checks on the company and its beneficiaries.
Grand Life Concierge provides support and prepares documents. Client due diligence (KYC/compliance) is required.
FAQ
How does a payment agent differ from a bank?+
A bank makes the payment directly from your account. A payment agent is an intermediary company that, on your instruction, pays the foreign supplier's invoice from its own accounts when a direct bank route is unavailable. The choice depends on the counterparty's country, the currency and current market conditions; we select the option for your specific deal.
What documents are needed to pay a foreign counterparty?+
For an importer the basic package is an invoice with currency, amount and payment purpose, the supplier contract and the recipient's details. For an exporter it is your bank details, a description of the goods and the expected volume of proceeds. A separate package for the bank's currency control may also be required. The exact list depends on the route and the bank; we assemble it for your deal.
How much does it cost and how long does a payment take?+
As a market benchmark, a payment via an agent takes roughly from a few days to two weeks, with a fee in the low single-digit percent of the amount; the exact figures depend on the route, currency and counterparty country and are not an offer. We quote the precise cost and timeline for your deal after reviewing the route.
What is contract registration and when is it required?+
Under Russian currency-control rules a foreign-trade contract must be registered with the bank once its value reaches the set thresholds: roughly RUB 10 million for exports and RUB 3 million for imports. This is a regulatory fact, not our pricing; we support the registration and preparation of the related documents.
Which currencies can be used for settlements?+
In practice, settlements with foreign counterparties are made in CNY, AED, USD, EUR, TRY, JPY and several other currencies. The availability of a particular currency depends on the counterparty's country and the chosen route; we select a suitable option for the deal.
Who is this service for?+
Companies and sole traders engaged in foreign trade — paying for imports, receiving export proceeds, or settling with foreign service providers — who need help with the payment route, documents and currency control. Work begins with completing KYC/compliance.