Assets of Russians in the UAE Reach 1 Trillion Rubles: FTS Expands Inspections

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Automatic financial data exchange between Russia and the UAE has been in place since 2018. In 2025, the total amount of assets owned by Russian citizens in the United Arab Emirates stands at around 1 trillion rubles, said the head of the Federal Tax Service (FTS), Daniil Egorov, in a comment to Vedomosti.

When the Common Reporting Standard (CRS) system was launched, data on individuals arrived in Latin script — with names, surnames and patronymics, as well as bank details recorded according to different standards. These records had to be read, matched with the Russian tax system and identified within each reporting period. The system is now more advanced: the FTS is refining data formats and learning to detect violations. “This is how it works everywhere and with any accounting systems,” noted Daniil Egorov. “If you invest in them properly, they produce less and less informational noise.”

He added that major players provide the agency with sufficiently stable and clear data, while smaller ones make mistakes — either assuming they won’t be noticed, or simply lacking knowledge of legal requirements. For the FTS, verifying information is routine work, and it is better for everyone to declare their funds.



REVERA lawyers believe that accounts belonging to Russians in the UAE — both individuals and companies — will be subject to stricter scrutiny in 2026. This is linked to the rapid growth of capital owned by Russian nationals in the Emirates. Their funds are being reviewed in connection with EU and US sanctions as well as within the framework of automatic data exchange with Russia.

Earlier, the head of the FTS said that tax revenues increased by 20% in January–October 2024, reaching almost 46 trillion rubles. Over the same period in 2025, the increase amounted to 8% — up to 49 trillion, reported Lenta. The rise was partly driven by automated debt collection. The amount collected grew by 24%.

In 2023, the number of cases related to currency violations increased from 16.2 thousand to 74.4 thousand. Criminal cases tripled compared to 2022. In 2024, the number grew by 72% to 136,675 cases. A total of 118,947 violations were identified (+60%).

Experts link this to the large number of foreign bank accounts that Russians fail to report to the tax authorities. Failure to notify about an account may lead to a fine of up to 5,000 rubles. Other common violations include depositing funds into foreign financial institutions and missing reporting deadlines for account transactions: fines range from 1,000 to 50,000 rubles. In some cases, violations of currency regulations may cost 20–40% of the transaction amount and may lead to criminal liability.



Russian residents are required to report. These are individuals who stay in the country for at least 183 calendar days a year, regardless of citizenship or residence permit. The status of legal entities is determined not only by registration but also by the place of actual management.

At the end of 2023, more than 529 thousand Russians who retained tax residency held accounts abroad. In the summer of 2025, banks and brokers in Armenia began verifying the tax residency of Russian clients for automatic data exchange with the FTS. Armenia has become one of the most popular jurisdictions for Russians opening foreign accounts. Similar opportunities are used by entities registered in the UAE or Hong Kong, which process payments for export and import through Armenia.

The list of countries that will exchange data with Russia will also include Serbia and Montenegro — an important point for migrants. Within the CIS, a protocol on data exchange related to income and taxes is already in effect. Georgia still does not provide financial information to the Russian tax authorities.