Cases
Returning export revenue for a cosmetics exporter to Europe
ExportCosmeticsSettlement at an agreed rate
The company makes natural cosmetics and supplies them to Europe, but ran into trouble bringing its foreign-currency revenue back.
The problem
- The European buyer couldn't transfer the revenue directly into Russia
- Returning the currency revenue under the contract was blocked
- The exporter needed the money in rubles, with no compliance issues
What we did
- Used an agency contractual setup under the export contract
- Received the buyer's funds into our company in Hong Kong
- Paid the client in rubles at the agreed rate
The result
- The exporter received its revenue in rubles
- The foreign-currency revenue came back to Russia under the export contract
- The payment from Europe was accepted and processed correctly
Takeaway
Through an agency structure and currency intake in Hong Kong, the exporter's revenue came back in rubles at the agreed rate.