How to get a mortgage or consumer loan abroad. Is it possible for a resident of Russia to get a loan abroad

Credit conditions in foreign banks are much more favorable than in domestic ones. Mortgage loan at 5%, desire to please customers, service culture, long history successful work- pleasant "little things" that attract borrowers.

Why take a loan from a foreign bank if Russian banks lend to the population? Perhaps there are people who are perplexed about this. Then let them try to answer why there are so few foreign banks in our financial market.

Yes, simply because if the borders were opened for them, the ruble would collapse. Foreign credit markets have long been formed and are no longer trying to make money, for example, on mortgage loans, but are interested in the population buying real estate.

Therefore, mortgage loans in these banks are given at 5% per annum, while in Russia the rate is about 10-15% per annum. Of course, the Russians would prefer to take loans from foreign banks, and the cash flows would rush abroad. This is the main attractive feature, but there are also secondary ones - a high service culture and customer orientation in foreign banks.

Is it possible for a Russian citizen to take a loan from a foreign bank?

There are three mortgage lending schemes in the world:

• American - extended-open.
• German - balanced-autonomous.
• Spanish, English, French and Italian - truncated open.

Let's take a closer look at each scheme.

Extended-open scheme. This scheme is most common when buying ready-made housing. Buyer pays from own funds a small part of the cost, and the rest of the amount is covered by a bank loan. The borrower repays the loan to the bank within 15-30 years.

Balanced autonomous circuit. Similar to the first scheme, but in Europe it works a little differently. Those who want to take a loan open a savings account at the bank and save money on it, which will allow them to make a down payment. Usually 5 years is enough for this. After that, the state joins the purchase and pays about 10% of the value of the property, and the borrower receives the rest of the money as a soft loan, the term of which is usually 15 years.

Truncated Open Diagram. A financial institution issues a target loan to the borrower, aimed at investing in various projects. You can invest in real estate, for example. Mortgages remain in the primary market valuable papers. The duration, size and interest rates of such a loan are not clearly regulated, and the bank's management sets them at its discretion, taking into account the wishes of the client and the credit situation.

Mortgage loan today can be easily taken in Spain or Cyprus. I must say that in Cyprus, Russian citizens are the main buyers of real estate, and there are many very attractive offers in banks. You can get a mortgage at 3.5% per annum, which seems like a very good deal. Even a not very wealthy person can buy a country villa in Cyprus, and it will cost less than a house in Russia.

Consumer loan in a foreign bank

Getting abroad is much more difficult than a mortgage. To qualify for such a loan, you need to be a resident of the country where you want to borrow. Only if you have a residence permit or a green card, your application will be considered by the bank on general terms.

If in the case of a mortgage, the bank does not take risks - in case of default on the loan, the costs will be compensated by the sale of collateral (real estate), then when buying expensive items, such as a car, banks look very closely at the applicants. Often, the term of the loan is determined by the time frame of your stay in the country.

If you live in the country on a legal basis, officially work, receive income and have a good one, you can apply for a bank loan without hesitation - the probability of a positive resolution of your request is very high.

Russians permanently residing in the Russian Federation who wish to take loans in foreign bank are facing serious problems. Such applications are considered by foreign banks in individually and it is difficult to advise anything that guarantees the receipt of credit funds. It is better to contact specialists who specialize in such transactions. At the same time, choose a brokerage company that has been operating in the market for a long time and enjoys a positive reputation.

Is it difficult to get a loan abroad?

For immigrants who have moved to a new place of residence, loans are necessary for quite understandable reasons. Banks in Europe are open to newcomers, but in different countries there are regulatory subtleties of immigrant banking.

By presenting a passport, an immigrant can deposit money into a bank account, but a certain amount is required to obtain a loan. social status. A tourist or an unemployed student has no chance of getting borrowed money from a bank. In extreme cases, you can get a loan for relatives or friends with a stable financial situation. Although only the closest people can agree to this.

The siding is opening a legal entity and obtaining a loan for a company. A mortgage can sometimes be arranged for a realtor, although such a service is very expensive.

The subtleties of obtaining a loan abroad

The lending procedure in Europe is not easy, so it is better to entrust all the efforts to professional intermediaries. When buying a property, contact a real estate agency. Upon purchase ready business use the services of a consulting firm.
Required documents:

• the passport;
• income statement;
• information about the composition of the family;
• statement from the personal account;
• property title documents.

The amount you can count on directly depends on the level of income indicated in the documents. Ideally, the size of a one-time loan payment should not exceed 40% of monthly income. The bank may request proof of permanent employment and a copy of a long-term visa.

You can minimize paperwork by contacting a branch of a Russian bank abroad even before obtaining a new citizenship. If the bank you dealt with in Russia has subsidiaries abroad, ask for proof of your positive credit history.

In some countries, there are age restrictions for borrowers - from 18 to 60-65 years.

Why do you usually take out a loan abroad?

Most often, Russians take mortgages abroad. They occupy somewhat less often. Infrequently - . Very few people want to borrow money for household trifles.

They are also not very common, since most often the children of wealthy parents or wealthy people study abroad to receive a second higher education.

AT developed countries a mortgage loan is issued at 4-6% per annum for 30 years. Thus, you can buy property in the UK, Germany, Cyprus, Spain and Israel.

The rate on a car loan is on average 4%, on a consumer loan - 7% per year. Average data for business and education loans vary by country's immigration policy. In many European countries, the business of newly arrived immigrants is given loans with great care, and Chinese banks provide bank support to visiting entrepreneurs willingly and on favorable terms.

Sometimes there is an urgent need for additional funds: the purchase of housing, expensive treatment, the desire to educate the child in a reputable university. All this forces people to look for sources of financing. When expanding a business, most companies also need to raise borrowed funds. Given the huge interest rates in Russian banks, many borrowers are interested in finding a better loan abroad.

Benefits of lending abroad

The popularity of foreign lending is due to a number of undeniable advantages:

1. Lower interest rates and, as a result, less overpayment are the main advantage of foreign loans. In Russian banks, their size is 6-8 times higher than the rates in the United States and in European countries.
2. Flexible loan terms.
3. High reliability of financial institutions.

More attractive lending conditions are possible due to the wide access of foreign banks to "long" credit funds, because investors invest for long periods - at least 1 year.

It might seem that a bank should set the same lending conditions in all branches located outside its country of origin. In fact, subsidiaries operating in the territory of the Russian Federation are required to be guided by the requirements Russian market. In this regard, the conditions for issuing loans are not more profitable than the offers of Russian banks.

Therefore, in order to save money, you need to take a loan outside the Russian Federation. However, it should be taken into account that banking structures lend to non-residents only if the funds are used on the territory of their state.

In theory, anyone has the right to apply to a foreign bank. Banking organizations also make a profit thanks to the lending service. The main role of credit in the economy is that those who need additional funds can meet their needs at the expense of investors.

In fact, it is likely that the bank will not want to deal with foreign borrowers, even if the institution has a corresponding loan offer.

Large banks prefer to limit the number of clients to citizens of the country or at least residents - legal entities or individuals permanently registered / residing in its territory.

This is not surprising, because lending to foreigners is associated with increased risks for the bank. One of the reasons is that the consideration of a credit dispute takes place according to the laws of the country of citizenship of the borrower.

Another reason for refusal is the difficulty of assessing the solvency of an individual residing in another state. The bank is unable to verify the accuracy of income and property statements.

The resident adheres to the laws of this state, regularly pays taxes and has a legal source of financing (salary or other income).

Thus, the highest chances of obtaining a loan abroad are for a Russian citizen who:

• permanently resides abroad;
• received a residence permit in the country of application for a loan;
• works under an employment contract;
• carries out entrepreneurial activity abroad;
• has real estate in a given country, a deposit bank account or a good credit history.

If the applicant owns real estate, rents it out and pays taxes to the state budget, in some countries he is considered as an entrepreneur (Italy, Finland and others).

Each country has its own terms of cooperation with foreign clients, which are not always interesting for applicants. For example, one of the mandatory requirements of Spanish banks is a certificate of no loans at home.

Japanese financial institutions lend to Russians only if the guarantor is a citizen of this country. Its task is to confirm the solvency of the client, and not to repay the loan in case of non-payment. The debt unpaid by the borrower after his death passes to the heirs.

Some banks in Germany require the client to transfer a certain amount to a deposit account. So they insure themselves for a certain reserve of funds if the borrower does not repay the debt on time.

Interest rates on loans around the world also differ. So, the minimum interest is returned by clients of British banks (from 2%), the most high rate operates in Bulgarian banks (11%).

The maximum loan amounts also vary - Bulgarian financial institutions are ready to issue a loan from 5,000 euros, in Switzerland you can request up to 400,000 euros.

Depending on the size of the loan and the debt repayment scheme, the terms can be 5–40 years. Lending for more short term disadvantageous for the borrower, and is limited by the laws of many countries. This is due to large monthly payments, the amount of which cannot exceed 30% of the client's income. In Poland, this figure is 50% of income.

If your goal is to take out a loan for the purchase of real estate, it is advisable to arrange a mortgage in the state where the transaction is planned.

Although in general lending is a potential danger for a bank, a mortgage loan is easier to get than any other. The purchased object is a guarantee of the client's solvency. The main condition is that the property must be located in the country of the creditor.

If the borrower plans to issue a loan secured by real estate located in the Russian Federation, the risk of refusal is high. The fact is that such a mortgage agreement is subject to Russian law- it must be registered in the USRN (Unified State Register of Real Estate), and legal disputes are considered by the court of the Russian Federation, which is disadvantageous for foreign creditors. In addition, Western financiers question the liquidity Russian real estate. Another thing is if the applicant takes a loan secured by a foreign object.

It is difficult for a non-resident to obtain a consumer loan from a European or American bank. Organizations are more willing to cooperate with holders of a legal residence permit. The conditions for processing a transaction for citizens of the country and residents are practically the same.

The main purpose of consumer loans is the purchase of a car, large-scale home repairs, education. In the latter case, a loan can be taken not only to pay for the university, but also for courses, internships, master's programs (funds are credited to the account educational institution). Many banks issue a matched loan to cover living expenses.

Experts recommend paying attention to the peculiarities of consumer loans issued to citizens who are in the country on the basis of a visa - the period of lending is affected by the validity of the visa permit. Therefore, it is advisable to obtain a long-term visa in advance.

When expanding a business outside its own state, an entrepreneur will sooner or later wonder if it is possible to take a loan in another country. Banks around the world generally have a positive attitude towards foreign businessmen. If they pay taxes, create new jobs and participate in the development of the local economy, getting a loan is not so difficult.

In a number of states, for example, in Germany, there is a program of state banking support for start-up entrepreneurs. By presenting an effective business plan, you can count on the minimum rate (up to 3%) with a delay in repayment of the loan body and interest for up to 2 years.

Banks are aware that the creation of a new company can be associated with certain risks, so usually a commercial loan is issued at higher interest rates than a loan for personal purposes.

Loan rules

In most domestic banks, it is enough to present a few basic documents. You can get a loan abroad only if you have a solid package of documents, and even then if the applicant meets a large list of requirements. Here is some of them:

1. Absolute transparency of sources and use of funds.
2. "White" (officially confirmed) income or profit.
3. The presence of liquid property that can be used as collateral for a loan.
4. No tax debt to your country and unpaid loans.
5. Availability of guarantors or guarantees from the banks of the country of residence.
6. Ready-made business plan (for entrepreneurs).

Important to know: about financial transactions outside the country of residence should report to the tax office. In addition, when opening an account abroad, it is necessary to send a notification to the tax authority within a month. Violation of this order is fraught with a substantial fine:

• per citizen: 4,000 - 5,000 rubles;
• on the executive: 40,000 - 50,000 rubles;
• for a legal entity: 800,000 - 1,000,000 rubles.

Citizens of Ukraine and Belarus must obtain a license to open an account with a foreign financial institution.

The fine for her absence in Ukraine can reach 500 minimum wages and even end with a long term of corrective labor (up to 2 years). Illegal activities will be stopped, and the contribution and proceeds will be confiscated in favor of the state. Thus, this issue should be settled while still at home.

Choice of crediting country

You can assess the availability of lending in different countries using the example of the most popular type - mortgages. To do this, we conditionally divide all countries into four groups:

1. Optimal loan terms and acceptable interest rates: Cyprus (from 5%). Usually, foreign borrowers are allocated an amount of € 75,000.
2. Mortgages are available, but lending conditions are less attractive (interest rate from 11.2): Portugal, Spain.
3. Mortgages are theoretically available, but harsh requirements reduce the chances of getting a positive response to zero: Austria, Great Britain, Italy.
4. Mortgages for immigrants from the CIS countries are practically inaccessible: Switzerland, Japan, the United Arab Emirates, the Czech Republic, Montenegro, Romania and Switzerland.

In a number of countries, authorities have introduced procedural and territorial restrictions on foreign borrowers. For example, in France there are very few banks willing to lend to non-residents.

Before contacting a bank, you should decide on the type of loan, because there are a lot of them in any lending market. First you need to understand what is the difference different types loans. They are usually classified according to several parameters:

1. Target. Depending on how the funds will be used, loans are targeted (for the purchase of a car, training, and so on) and non-targeted.
2. Yield. A loan can be productive (loaned money generates income) or consumer (intended for the personal needs of the borrower).
3. Lending terms (short-term (up to 1 year) and long-term loans - over 12 months).
4. Currency.
5. Repayment scheme. The annuity method involves the repayment of a debt in the form equal parts. In this case, the rate does not change until the end of the contract. The classic way of repaying the debt is more profitable - the bank charges interest on the balance of the loan body, which gradually reduces the amount of the payment and the final overpayment. Sometimes a monthly interest payment is offered, and the body of the loan is returned at the end of the term.

To understand which loan is preferable, many use the advice of credit consultants or special services on the websites of financial organizations.

The next step is choosing a bank. Here are some things to look out for when choosing a financial institution:

• does this bank lend to foreigners;
• whether loan repayment schemes are beneficial for the borrower;
• what is the reputation and credit rating of the bank;
• the complexity of the procedure for obtaining a loan;
• rates and additional fees.

When applying for a mortgage or big loan to open a business, you should seek help from a company that conducts real estate transactions in the desired country.

As a rule, such firms are familiar with the real estate market and local laws, so they will help you choose the right property and collect required documents. Without knowledge of the language, the applicant will easily get lost in the sea of ​​commercial offers and legal requirements.

Required package of documents

Clients complain about red tape in domestic banks, but getting a loan abroad is no easier. The minimum package of documents includes:

• international passport;
• a document legalizing the stay of a foreigner in the country (visa, residence permit, temporary residence permit);
• income statement (not less than 1–2 recent years) and everything that indicates the solvency of the applicant (availability of funds for the down payment, payment for services for processing the transaction);
• certificate from the tax office on the absence of debt;
• information on monthly payments (alimony, repayment of another loan, and so on);
• labor contract;
• certificate of real estate;
• confirmation of the place of residence and contact details of the applicant;
• permission to conduct foreign exchange transactions outside the native country (for Ukraine and Belarus).

Some banks, such as German ones, require you to provide a certificate of family composition.

It is often useful to confirm that the applicant is a client of a reputable banking organization in their home country.

All documents must be translated into the language of the country in which the bank is located and certified by a notary.

There are many subtleties associated with applying to a foreign bank.

1. If you plan to take out a loan, try to get a residence permit or at least a temporary residence permit, as well as get a formal job. The longer the applicant lives and works in the country, the higher the chances of obtaining a loan.
2. If you have money, you can first put it in a deposit account in one of the banks in the country (or where the loan is planned). It is recommended to apply to several banks.
3. Another important point, which you need to consider before contacting a financial institution, is the currency of the loan. Banks usually finance the purchase of local real estate or the opening of a company in local currency. If you apply for a loan in euros, but receive income in rubles, please note: the devaluation of the ruble will increase the cost of the loan. Getting a loan in Swiss francs increases the risks - after the 2008 crisis, the exchange rate of this currency rose, so loans became more expensive. Ideally, the loan currency should match the income currency.

Many applicants entrust the choice of the optimal loan offer to intermediary organizations or use the experience of their compatriots by asking questions on forums dedicated to living conditions in a given country.

Frequently asked Questions

Is it possible to apply for a loan in a foreign bank online

There are three ways to use the foreign loan service:

• submit an application during a personal visit to the bank;
• apply for an online loan;
• contact a consulting or real estate firm in your country.

Citizens of Russia, Ukraine and other CIS countries can receive money in a foreign bank via the Internet only through special representative offices.

Some banks, for example, DenizBank (Turkey), make a preliminary decision based on a scanned package of documents sent electronically.

Is it possible to take a loan abroad to buy a home in Russia

If the loan funds are spent at home, the borrower will have to pay a substantial commission for transferring money to his account. This operation will arouse interest among the tax authorities of the country, because the receipt of funds to the account is income.

It is quite possible to “bring” the received credit funds under this definition. Thus, taking into account the interest rate, associated costs and the total cost of the loan, the transaction may not be of particular interest.

Can I get a student loan from a foreign bank?

Given the high cost of education, many universities cooperate with partner banks that are ready to provide students with a loan for study. To obtain a student loan, you can apply for a guarantee in the international department educational institution. In addition to a passport and basic certificates (about the absence of debts and financial solvency), the package of documents for the bank includes a student visa and an agreement with the university.

Which countries have Sberbank, where you can get a loan abroad

The main office of Sberbank Europe (Sberbank Europe AG) is located in Vienna (Austria) and is a subsidiary of Sberbank of Russia. The bank operates in 10 European countries:

• Austria;
• Bosnia and Herzegovina;
• Hungary;
• Germany;
• Serbia;
• Slovakia;
• Slovenia;
• Croatia;
• Czech;
• Ukraine.

Since 2012, Sberbank has owned a 99.85% stake in Turkish DenizBank (599 branches and 5.4 million customers).

Sberbank loans abroad differ from Russian counterparts in lower interest rates, but they are not as attractive as loan products in purely European organizations. But for Russian clients of Sberbank in the Russian Federation, it is much easier to collect a package of documents.

Conclusion

Theoretically, our compatriots have no legal restrictions on applying to a foreign bank for a loan. But many face practical difficulties, starting with strict requirements for the applicant and an extensive package of documents, and ending with the unspoken reluctance of foreign financiers to work with non-resident borrowers from the CIS countries.

How to make money in English banks. Banks in UK.

Let's imagine that you went abroad and one day you needed to take out a loan. So far, loans abroad from Russian citizens are an unpopular phenomenon. But gradually, Russians are beginning to take out mortgages, car loans and other targeted loans from foreign banks. Sravni.ru found out how to get money far from home.

Features of national loans

Once away from the borders of the homeland, a Russian citizen has the right to use banking services in all states, but adjusted for the characteristics of each country. Whether it's a deposit or a loan, you must have a bank account. In European countries, almost every bank will open it for you and accept money in any currency upon presentation of a foreign passport. But not every American bank will be so gullible: you must have social status, official work or income in the territory. Therefore, there can be no question of a loan if you are an ordinary tourist or an unemployed student.

Often in hopeless situations, a loan is taken on a friend or relative legally residing in the territory of a given state. Some open firms and issue loans to a legal entity, since they are much more trustworthy.

Practitioners assure that it is almost impossible to take a loan outside of Russia on your own. Especially if the amount is quite serious. Loan officers usually communicate with qualified intermediaries. When applying for a mortgage loan, the loan is completely issued to a realtor, and when buying a business, only a foreign consulting company communicates with the bank.

According to specialists from the Investkafe independent business intelligence agency, the goals for loans taken by Russians abroad are average: consumer spending on equipment, training, cars, housing, and business development costs. Basically, the practice is widespread in the mortgage lending market. Although, in principle, if you have a passport and documents confirming the client's solvency - that is, first of all, bank statements - a loan can be issued without much difficulty.

What is required for a loan?

AT standard package for issuing a foreign loan includes: an identity card, an extract from a personal account, information about income received, information about what property the borrower owns. Family information may also be required.

If you decide to take a loan yourself, get ready that various banks may make high demands on the Russian borrower. For example, a long-term work or study visa or employment in the country where the bank is present may be required. For a mortgage loan, a long-term visa is required. It is almost impossible to get a loan in the country for a period longer than your stay in it. You may also need a guarantor - a resident of this country.

It is easier if the requirement is that the borrower must be a client of this bank in Russia. This usually requires a letter from your bank and a copy of the contract with your employer. Less often, foreign banks check the borrower for "reliability". Usually financial condition they are not interested - it is important that there is an initial payment of at least 10% .

Banks that are represented in the Russian Federation or Russian banks abroad will offer more favorable conditions or require fewer documents, since the risks in this case are less if the “citizenship” of the client and the bank are the same, Investkaf notes. It is also very desirable to obtain a loan from a foreign bank in advance to apply to a subsidiary of this bank in Russia to secure its guarantee.

Priority Goals

Mortgage loans are the most common loans to Russian citizens abroad. Real estate market experts agree that it is much more profitable to take a mortgage loan for a purchase in a foreign bank of the country in which the property is purchased. According to Finam Investment Company, as of the middle of last year, the average fixed rate on mortgage loans in the EU countries and the United States was 3,5%-6% per annum, the loan term is 30 years, the loan amount is 60%-80% from the value of the acquired property. The lowest mortgage rates were in Finland, slightly higher in Israel, they amounted to 3,1%-3,8% and 3,5%-4,5% per annum. Mortgage rates in the "base" EU countries are also not high, on average - 3,1%-5% per annum. According to the Gordon Rock agency, the countries where it is easier to get a loan are: Great Britain, Germany, Spain, Cyprus, France, Israel. Similar soft conditions abroad are also common for car loans - rates do not exceed 4% . Interest rates on consumer loans are slightly higher - from 5%-7% per annum.

A with recently foreign banks began lending to small and medium Russian business. Since it is much faster and cheaper to establish a company abroad than in Russia, and legal entities trust more, many entrepreneurs deliberately travel from Russia to receive a loan for development own business. AT recent times this practice has spread in China, where Russian businessmen invest in the technology, manufacturing and trade sectors. Interest rates on loans in China are lower than the average in Russia by about 2.5 times.

There is no person in our country who would not dream of taking a loan abroad. This is all due to the fact that in Europe the interest rate is significantly lower than in Russia.

In this article, we will tell you about how a citizen of the Russian Federation can take a loan abroad, whether a Russian can take a loan from a foreign bank and put it on a deposit in his country, and so on.

How can a Russian get a loan abroad?

Any adult can apply for a loan in a foreign bank, in any currency. In most countries, the age of majority is 21.
The required amount will be issued only after conversion in national currency. The maturity period is from 10 to 30 years.

A citizen of the Russian Federation can take a loan from a foreign bank while in Russia, only with the help of representative banks, get cash on the terms that would be available abroad is impossible, because here is subsidiaries. They work on the basis current law our country.

How to get a loan abroad at a low interest rate?

For comparison: in Russia you can get a loan with an interest rate of 15-20%, and abroad - about 6%.

Take a loan from foreign banks, mostly residents. In addition, there are several nuances that you should pay attention to:

• A person wishing to take on a loan obligation must have a residence permit or reside permanently in the territory where he intends to take out a loan;
• Regularly pays taxes;
• Has some property in the country;
• Arranging mortgages for real estate abroad;
• Does not have a negative credit history in their country;
• There are relatives in the creditor country.

Of all the options listed, the last one is the most convenient. It is the most inexpensive and most real.

Red tape with documentation in Europe, no less than in the Russian Federation. You must provide:

• International passport;
• Certificate confirming your income;
• Documents from tax office, which confirm the fact that you do not have any debts;
• Documents confirming your regular expenses;
• Labor contract;
• All documents for real estate ownership in the Russian Federation;
• Documents that confirm the authenticity of the place of residence and other information about the potential borrower;
• Other references at the request of financial institutions.

Credit abroad through the Internet online

You can get a loan abroad via the Internet only by using the services of Web Money or other similar organizations. The amount disbursed will not be large, in addition, the loan term will also be short.

Can I get a loan abroad to buy a home in Russia?

Taking a loan in Switzerland or any other country at a low interest rate, in order to later buy an apartment in our country, is quite realistic. You need to go through several stages:

• You need to open an account in a foreign bank, then notify the Central Bank of the Russian Federation about this. The loan itself will be registered. This will have no consequences for you;
• Make a pledge. The liquidity of property, guarantee, bank rating is extremely important;
• details of this project.

Find a good consulting company. Experts will assist you from the beginning to the end of the whole process.

How to take a loan abroad and put it on a deposit in Russia?

The easiest way to take a loan is for those who have received a residence permit in a foreign country, is a resident. Many financial institutions, when issuing money, are not interested in what purposes they will go for. However, some enterprises provide funds only for certain needs. For example, to buy an apartment. So, you should carefully consider the choice of the bank.

Can I get a mortgage loan abroad?

If you want to take out a mortgage abroad, this issue needs to be studied in detail. In countries such as Cyprus, Morocco, Spain, it is easiest to get a mortgage. It is enough to present a passport and a certificate of your income. You will also need to open an account in one of the banks in the country. In the Emirates, a mortgage is issued on the same terms, in addition, the total amount of income must be at least $10,000 per month. The maximum mortgage term for foreigners is 12 years. It is difficult to get a mortgage in Switzerland, Italy, France, England, Germany.

Abroad, interest rates on loans are 3-4 times lower than in our country. But is such funding available to Russian citizens? From the article, you will understand whether foreign lending is really profitable and find out how you can get it.

What is a foreign loan

A foreign loan is a sum of money received at interest for a specific period in a bank located in the territory of another state and operating according to its laws.

Important! And there are enough foreign banks in Russia. But the terms of lending in them do not differ from those offered by Russian financial institutions.

In other words, to obtain a loan on foreign terms, you must contact a bank representative office in the selected country.

Most often, a personal visit is required, but in some cases, you can apply while in Russia via the Internet.

Advantages and disadvantages of a loan in a foreign bank

Lending abroad has only one significant advantage - the ability to take the amount at a low interest rate. If in Russia a consumer loan is issued on average at 17-20%, then in foreign banks the amount can be obtained at 3-4%.

The disadvantages of such lending are much more:

1. The loan is issued in foreign currency. When the exchange rate rises, the value of money will increase, you will need to pay more. However, if the rate drops, then you will have to pay less. But practice recent decades in relation to, for example, dollars or euros, shows the opposite.
2. High commission. Paying a loan in foreign currency from Russia, you will need to regularly pay increased fees for international transfers.
3. The need to pay taxes. A loan from a foreign lender may be recognized as personal income, which is subject to tax.
4. It is impossible to pledge property in Russia. Only objects located on the territory of the selected country are accepted as collateral.
5. Mortgage restrictions. Money is issued only for the acquisition of real estate located within the selected state.

For myself, to the question of whether it is worth applying for loans to foreign financial institutions, I answer in the negative - there are too many shortcomings, and the current rate "eats" all the benefits from the difference in rates. But if you want to get such funding, then below is the instruction on how to do it.

Is it possible for a Russian citizen to take a loan from a foreign bank

There are no legal restrictions on obtaining such a loan - the law does not prohibit obtaining loans from foreign creditors.

But in practice, foreign banks are rarely ready to lend to citizens of other states. The reason is obvious - if the borrower does not repay the debt, then it will be problematic to get him to fulfill his obligations.

That is why many foreign credit organizations in the rules for providing borrowed funds, they immediately indicate that funds are not issued to citizens of other countries. However, there are a few tips that can help you get the amount you need abroad.

How to get a loan abroad

As a rule, foreign financial institutions are ready to consider the possibility of issuing a loan to a citizen of the Russian Federation if he has a residence permit or a work visa. Also, factors that can positively affect approval include:

• the presence of a savings or savings account in the selected bank;
• the ability to provide a solvent citizen of the selected state as a guarantor;
• the presence of property in the country of lending;
• a written financial plan for the return of the issued amount.

Organizations are more willing to receive funding than individuals. But when drawing up a loan agreement for a company, spending money on personal needs will be illegal.

To apply for a loan in a foreign bank, a Russian citizen must:

1. Choose a country with optimal conditions. Look not only at interest rates, but also at the general economic situation in the state. Pay special attention to the currency and the volatility of its exchange rate.
2. Collect all the documents that positively characterize you as a borrower. These can be income certificates, documents on ownership of an apartment or car, deposit agreements, etc. Take care of notarization and translation of papers into official language the country in which the creditor is located.
3. Contact the bank. It is better to do this in person, but in some cases, remote consideration of the application is also possible. Regardless of the chosen method, justify your goals and prove your solvency - the bank must see you as a reliable borrower.

It will be great if, before applying, there will be an opportunity to study information about the credit experience of compatriots in this bank. This way you will know which aspects to pay special attention to.

Expert Answers

Is it possible to take a loan from a foreign bank and spend it in Russia?

This is not prohibited by law. But be prepared for the fact that you will need to pay tax on the amount received.

There are also mortgage restrictions. If you take a loan from a foreign bank, then you will need to purchase real estate in the territory of the selected country.

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