The ruble won back half of the fall from the end of July and strengthened against the dollar. Even the introduction of a new block of sanctions could not deploy the recovery of the Russian currency. Is the danger behind and nothing more needs to be done to protect your assets? No, the opposite! It’s time to act while the situation is at least partly on the side of ordinary citizens.
Since September 11, the Russian ruble has strengthened its position after falling in August. By September 24, it was possible to win back half of the fall from the end of July. What is the reason?
Experts believe that this is due to the end of August, always the most stagnant month with a lack of liquidity. Also, by the middle of September, sales of liquid Russian assets by foreigners were over, and they were getting rid of, in their opinion, dangerous assets against the background of tougher sanctions.
Capital Outflow: Foreign investors sell OFZ worth billions of rubles
The Bank of Russia also raised the key rate to 7.5% and extended the moratorium on the purchase of foreign currency on the open market until the end of 2018.
Last week, the United States introduced a new package of sanctions and included in the sanctions list 27 individuals and 6 companies from the military-industrial complex and intelligent. The growth of the ruble has slowed but continued on the same day.
Given that in early August, the ruble collapsed only because of rumors about the introduction of new sanctions, this behavior of the national currency is surprising. Either the local pressure limit has been reached and the new sanctions no longer have an effect, or the ruble rests on quite solid foundations and is able to survive for some time on the current exchange rate without additional shocks.
Is this good news? Of course, because the population of the country will retain its wealth at least at some level. Prices are already rising, and the fall of the ruble puts even more pressure on people.
However, this does not mean that it is time to relax. The economy of Russia and the whole world is in constant motion. A lull always happens before the storm. Instead of resting, it’s time to pre-tension and provide additional protection for your assets. So far, the new wave of crisis, the fall of the ruble or sanctions have not squeezed out any value from your Russian assets.
Protecting assets during a lull: time to act
Despite the pleasant impression that the growing ruble makes, the situation remains extremely tense. US sanctions against Russia continue to strengthen. The Central Bank cleans the banking sector and wallows in bureaucracy. Scammers from private banks continue to rob clients. Authorities raise taxes and retirement age.
Predictability is not, and assets are melting under the pressure of circumstances. What to do?
Do not sit back and learn the truth about asset protection!
How to do it? The first step is to assess what is at the moment: in what form are the assets, where are they stored? If you have a large amount in rubles only – this is bad. If your assets are only an apartment in Moscow – not very reliable.
Therefore, it is necessary to diversify risks and decompose assets into different baskets: not only rules but also currency; not only real estate but also currency, gold, securities.
After we evaluate where the assets are stored. If they are all located on the territory of one country, then there is a danger of losing everything at once. Take into account the experience of predecessors 100 years ago. They kept assets only in Russia, but when the disaster happened, the billions did not save them.
When you realize that some of the assets should be taken abroad, you need to understand what and where exactly to withdraw. The most mobile asset is cash. They can really be transferred to almost any part of the world, be in Europe, the USA, Asia or Africa. Depends on your goals, plans, and reliability of the selected bank.
How to choose a reliable bank? Sign up for a free consultation with the experts of the Natty Bumppo portal. It will tell you which way you should go. You can open an account in person or remotely in Switzerland, Germany, USA, Serbia and many other countries.
As you know, there are difficulties with opening accounts for CIS residents. The reason for this is a lack of trust and excessive demands from the inspecting departments of the bank. Thanks to our experience and reputation, the chance to open an account increases several times. At the same time, we suggest you not to wait for a response from one single bank, but to submit an application for opening an account to several banks at once using the pre-approval service. A bank or several banks will give prior consent to work with you and only after that you will proceed directly to opening an account with much higher chances of success.
If you have assets that are difficult to withdraw abroad, such as real estate or business, you can provide additional protection for the ownership of such property. For this, a foreign company is registered, which becomes the owner of the asset. An asset can be not only real estate or another business but also intellectual property, stocks, bonds. Not to mention that a foreign company has the right to conduct its own business activities anywhere in the world.
We help register companies around the globe and do it legally. This means that your foreign company will not be a “stale commodity”, someone else’s a property with a burden and avoid other troubles and deception.
Now there is a lull and the ruble is growing. How long will it last? No one will answer. However, those who intend to protect and increase their capital, do not sit still. They use the services of professionals who help ensure the safety of the property and the privacy of their clients.