Accurate and Professional Translation of a Bank Statement
A bank statement is a document, which is granted to a client as a report of the current status of their account. A bank statement is compiled on the basis of settlement account in the bank and will be its copy. In the bank you request an original of a bank statement and translation services perform its translation from English to Russian.
Translation of a bank statement is required to provide it to foreign official institutions to confirm capacity to pay, translation of a bank statement to Russian authorities is provided on demand to confirm the fact of the existence of a foreign bank account.
Why may you need bank statement translation?
1. When applying for visa
Embassy may wish to clarify the status of your account, when applying for a visa, to check your capacity to pay. As a general rule, all documents, submitted on a visa to foreign embassy, require translation to the language of the foreign country or to the language, which embassy prefers. The most common translation is bank statement translation for a visa to English, German, French, Spanish and Italian.
For such cases translations of bank statements are most often certified with the translation bureau seal (so-called certified translations), in rare cases notarization of translation of bank statement might be required; it has to be clarified in embassy. Requirements are different everywhere and they may differ depending on the particular circumstances.
2. For tax reporting
According to Russian tax legislation, when opening a bank account in the foreign bank, Russian is required to inform tax authorities. It will be necessary to apply to Russian Tax Inspectorate, which is nearest to the place of residence, within a month. Together with application it’s required to submit notarially certified translation of a bank statement to the Russian language, as required by law.
These rules and regulations also apply to juridical persons, engaged in commercial activities abroad and which have a settlement account in the foreign bank. They have to provide notarially certified translation of a bank statement to tax authorities on the place of their registration every quarter.
3. For loan and mortgage processing abroad
In this case, among other documents you need to provide translation of an account statement, bank certificate, certificate of deposit, income certificates, certificates of personal income tax and other different documents, which will reasonably be requested.
4. In other cases
Particular attention is paid to the details of processing of bank statement translation. Translator’s task is to provide a visual match to the original document. If in a bank statement key indicators, numbers, amounts and operations, carried out with funds, reflect in the form of a table, translation also has to contain exactly the same table with numbers and amounts. It’s very important to not only arrange everything properly, but also don’t miss out any important factual information. Therefore, in translation of such documents our translators are at least very attentive.
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