The change of the tax residence is the only legal way to not inform the State of the foreign assets.

The change of the tax residence is the only legal way to not inform the State of the foreign assets. For the Russian foreign residents is becoming difficult to hide their capital in the foreign countries. The reason is the recent changes that have been introduced in the Currency Regulation Law, the amendments to de Administrative and Criminal Law, the hardening of the liability for hiding the foreign assets, and the membership of Russia the Automatic Exchange of Financial Information Agreement (CRS MCAA), through which automatically receives information about the foreign accounts of its residents. In accordance with the Law, the Russians should communicate to the Treasury the bank accounts that they have in foreign countries.