Translation. Region: Russian Federal
Source: Mainfin Bank –
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Why do MPs want to limit migrants' money transfers?
The appeal of deputies to the Bank of Russia with a proposal to limit transfers by foreigners is due to the lack of effective legislative measures that would allow controlling the income of migrants. Legislators cite several reasons for introducing restrictions:
Foreigners transfer amounts from Russia that are significantly higher than their official incomes; the percentage of unofficial employment with salaries “in envelopes” remains high in the country – the budget does not receive enough taxes; migrant transfers are one of the channels for the withdrawal of capital obtained by criminal means; the lack of control leads to negative economic and social consequences for the country.
“The majority of migrants do not pay any taxes in Russia, but they take large sums out of the country: last year alone, over 14 billion dollars were sent to Kyrgyzstan and Uzbekistan – essentially, this is black cash,” MP Sergei Mironov previously stated.
The fight against illegal employment and money laundering are the key reasons why authorities want to introduce legislative restrictions on transfers.
What restrictions for migrants does the State Duma propose to introduce?
Deputies proposed to limit the amount of migrant transfers – foreigners will be able to send home funds not exceeding the amount of their own salary. If a migrant wants to transfer an amount greater than their official salary, the bank will be forced to request a declaration that will confirm the legality of the income received.
The government also proposed increasing a number of duties related to migration registration and taxing money transfers made by foreigners. Deputies recalled that last year alone, the number of foreigners in Russia increased by 9.5 million people, and another 700,000 migrants are in the country illegally.
09:00 08/26/2025
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