Source of cash: which documents banks ask for when you buy property abroad

In brief

• The origin of funds is checked three times: by the Russian bank when cash is deposited, by the foreign bank when it is credited, and by a government body when residence or citizenship is granted.
• Since 26 October 2026, under Bank of Russia recommendations No. 5-MR, a Russian bank requests documents before cash deposits of RUB 5 million or more at once or within a month.
• Documents must cover the whole amount. If there are several sources, each is shown.
• The main difficulty with cash is linking it to income from previous years. That requires withdrawal statements and dated contracts.
• Foreign documents will need an apostille and a sworn translation. It is best to prepare the pack once, for all three checks at the same time.

Why cash is the hardest

Non-cash money leaves a trail: the salary arrived in the account, tax was withheld, the money sits there. A statement is enough for the bank. Cash has no such trail. A person may have saved salary at home for years, received money for a car they sold, borrowed from a relative. To a bank all of this looks the same: a stack of money with no history. So the applicant's task is to rebuild that history with documents.

Banks and government bodies in different countries look at this differently, but the logic is the same everywhere and goes back to anti-money laundering standards. Two concepts are distinguished: source of funds, where the money for a particular transaction came from, and source of wealth, how the person built their capital overall. Buying property for residence usually requires both. These concepts are explained in our glossary and the source of funds guide.

What this means for you. If your money is currently in cash, start with its history: where it came from and when. Without that, any bank will stop the transaction at the first step.

Step 1: the Russian bank and recommendations 5-MR

On 26 October 2026 the Bank of Russia issued methodological recommendations No. 5-MR. If an individual deposits cash roubles into an account, transfers money without an account using cash, buys bullion or precious metal coins for cash, or exchanges cash roubles for currency in amounts of RUB 5 million or more per transaction or per month, the bank should obtain documents on their financial position and sources of funds before the transaction. The same rules apply to cash foreign currency. Details are in our news story on the Bank of Russia recommendations.

The annex to the recommendations contains an indicative list of documents: an income and tax certificate, a 3-NDFL tax return, self-employment documents, a loan agreement, a certificate of inheritance, gift documents, property sale contracts with a register extract, a lease agreement. The list is open, and the bank may ask for more. If there are no documents or they raise doubts, the bank is advised to consider refusing the transaction under Law No. 115-FZ and raising the client's risk rating.

What this means for you. If you are depositing RUB 5 million or more in cash, submit documents to the bank in advance and ask for them to be recorded in your file. This saves repeated requests on later transactions.

Step 2: the chain from income to cash

The key rule: every rouble must be linked to a lawful source, and the total of the documents must cover the transaction amount. If the money was gathered from several sources, such as the sale of a flat plus salary savings, each must be shown. Below are the main sources and the documents that evidence them. The list matches what Russian banks ask for and mostly works for foreign banks too.

The hardest case is cash that has been kept at home for a long time. The bank will want to understand how the money became cash and where it was kept. Account statements showing large withdrawals in previous years, dated sale contracts, receipts for payments and tax returns for the years the income was earned all work well. The closer a document is in time to the amount you are depositing, the easier the check. If years passed between selling a flat and depositing the money, it is worth explaining why the money was not kept in an account.

What this means for you. Build a timeline: when and where the money came from, when it was withdrawn, where it was kept. A simple table of dates and amounts often convinces a bank better than a pile of scattered certificates.

Step 3: the foreign bank and the programme country

After the transfer, the money is checked by a foreign bank and, if the purchase is linked to residence or a passport, by a government body as well. The requirements are stricter than a Russian bank's and almost always apply to wealth as a whole, not just the particular amount. For example, the Greek golden visa accepts payment only by bank transfer, and the notary certifies the payment method. For Turkish citizenship through property money goes through a Turkish bank with confirmation; on the account see the article on Turkish bank accounts. For Cyprus permanent residence the money must come from abroad; see the article on source of funds for Cyprus permanent residence.

A foreign bank usually asks for the same as a Russian one, but in fuller form: income documents for several years, a description of career and business, property sale documents, sometimes a biography with sources of capital. Politically exposed person status and sanctions lists are also checked. All Russian documents will need a sworn translation and usually an apostille. What such a file looks like is shown by our bank file service.

What this means for you. A pack accepted by a Russian bank is a good basis for a foreign one too. Add a description of the source of capital, and translate and apostille the key documents.

Example: what a document pack looks like

A notional example to show the logic. A buyer wants to deposit RUB 25 million in cash and then transfer it to buy a flat abroad for residence. The money comes from three sources: the sale of a flat in 2024, five years of salary savings and a gift from parents. Each source needs its own block of documents, and together they must cover the whole amount.

• Sale of a flat, RUB 14 million. The sale contract, a property register extract showing the transfer of title, a bank document or receipt for the payment, and a statement showing the cash withdrawal after it was credited.
• Salary savings, RUB 7 million. Income and tax certificates for five years and salary account statements showing regular cash withdrawals.
• Gift from parents, RUB 4 million. A gift agreement or a written statement from the parents, plus documents on their income or the sale of their property from which the money came.

What this means for you. Break the amount down by source and gather a block of documents for each. A one-page timeline links them into a clear story.

Common mistakes

Most refusals are caused not by a lack of money but by how it is presented. Below are the most common mistakes and how to avoid them.

A word on structuring. Depositing RUB 4.9 million several times in a month to stay below the RUB 5 million threshold is a bad idea. The threshold also counts the calendar-month total, and the recommendations explicitly call structuring a sign of avoiding checks. The consequence is a refusal under Law No. 115-FZ, which the bank reports to the Russian financial intelligence service, and difficulties with other banks. We wrote about how banks are already blocking schemes involving cash and crypto.

What this means for you. One transaction with a full document pack is safer than several small ones without. Time saved on preparation turns into months of disputes.

If part of the money comes from cryptocurrency

Banks check cash obtained from selling cryptocurrency particularly strictly. You need to show where the cryptocurrency itself came from, where and when it was sold and how the money became cash. From 2027 Russia is restricting p2p exchange; see our news story on the p2p ban. For such cases we have a separate crypto capital evidence service, and for complex money histories, capital legalisation.

Checklist before buying

Purchase costs by country are compared in the guide to property purchase costs, and the link between buying and residence is explained in the guide to real estate and residence. Before a deal we carry out a legal check of the property. If the tax office has already sent an enquiry about a foreign account, see the article on how to answer the tax office; on EU accounts without residence, see a separate piece. Programmes for property buyers include the UAE, Portugal and others. The terms AML, KYC and enhanced due diligence are explained in the glossary. Help with bank compliance and source of funds evidence are among our services; you can discuss your situation in an online consultation. All BRIDGES services are on the home page.

How this article was prepared

Sources: Bank of Russia methodological recommendations No. 5-MR of 26 October 2026 and their annexes; Federal Law No. 115-FZ of 7 August 2001; property payment requirements in the Greek, Turkish and Cypriot programmes under the official programme rules; client due diligence standards based on FATF recommendations. The exact set of documents is decided by the bank or government body. This article does not replace a consultation.