In 2022, Russian freelancers moved considerably more money to international payment cards than in 2021, a trend highlighted by Forbes using data from the Solar Staff service for independent professionals. The analysis shows a clear pattern: individuals operating on their own increasingly directed earnings to banks located outside Russia, with Georgian, Kazakh, and Armenian institutions receiving the bulk of these transfers.
The study examined user data where Russia was listed as the country of residence at registration. The cohort grew from 89 thousand in 2021 to 99 thousand in 2022, and overall, transfers to foreign cards reached 103 million rubles in 2022, a stark rise from 15 million rubles in 2021. This shift reflects broader changes in payment flows and the evolving needs of freelancers facing a dynamic economic environment.
Georgian banks emerged as the most frequent destination for these transfers in 2022, receiving roughly 100 million rubles, a substantial increase over the previous year, driven by higher activity and broader access to international payment networks. Kazakhstan followed as the second most popular destination, with transfers totaling about 46.3 million rubles, up from 1.3 million rubles a year earlier. The expansion into these markets signals a preference for stable, diverse banking options among freelancers seeking to move earnings abroad with efficiency and reliability.
Official data from the Bank of Russia for the latter half of December indicated that Russians redirected 1.47 trillion rubles overseas during that period, a figure that underscores the scale of outbound financial activity in 2022. The July to September timeframe alone showed transfers far exceeding the same period in 2021, illustrating a sustained increase in cross-border payment flows throughout the year. These movements reflect a changing landscape for personal finance, cross-border work arrangements, and the ways freelancers manage income from international clients (Bank of Russia press service).
Experts note that several factors contribute to these patterns, including the desire for diversified financial footprints, access to different currencies, and the practical needs of freelancers who work with clients across borders. While some freelancers aim to simplify tax compliance and reporting through foreign banking channels, others pursue faster settlement times and lower friction in international payments. This evolving ecosystem may influence how independent workers structure their payments, savings, and financial resilience in a shifting economic climate (Forbes).