Who Needs Bank Statement Translation?
Individuals who have bank accounts in Russia often want to get their financial statements translated into English. One of the purposes of translating their bank statements is to obtain a loan from financial institutions in the United States. Banks and other lenders in the United States usually expect to see the applicant’s assets to determine whether they qualify for a loan. Since they do not speak Russian, they ask the applicants to provide the English translations. Another reason for translating Russian bank statements to English is to attend schools in the United States. Colleges and universities often want to be sure that their international applicants are capable of covering their tuition and other expenses while studying in the United States. Investors from Russia that hope to purchase investment property in the United States also typically need to prove their ability to make the purchase.
Why Do I Need a Professional English Translation?
You might have received a copy of your bank statements from local banks in the Russian language and looking for a professional translator to prepare an English translation. You might need to get your documents translated because sellers are often hesitant to continue negotiations with a prospective buyer unless he can demonstrate that he has sufficient funds to go through with the transaction. They would like to make sure that the party they are dealing with has the financial means to pay the asking price. They sometimes ask for balance sheets if the investors own a business in Russia. Their assets and liabilities are documented in the balance sheets and can be used to determine their purchasing power. In other cases when the prospective buyer does not own a business or the value of the owned business is too small sellers might ask for bank statements. This document contains all the financial details of the account holder. Sellers who review the bank statements for prospective buyers often learn important information about their financial standing.
If you are in the process of applying to universities in the United States you might also be looking for a certified translation of your bank statements. Admissions officers usually consider the academic achievements of international candidates along with their ability to cover the costs of their education. They might require a copy of your bank statements or the financial documents of the person who is supporting you while you study abroad.
Financial and educational institutions in the United States that request professional translations commonly expect consistency and clarity. Professional translators with extensive experience with the translation of financial text usually possess the expertise Russian investors need to get a good translation of their bank statements. That is why you need a professional translator to take care of the translation of your financial documents. Even if you are bilingual you might not know the exact meaning of financial terms and create complications for the recipient. In addition, many organizations require an official translation and won’t accept translations that you prepare.
How to Get a Russian to English Translation at CACFTI
California Center for Translation & Interpretation simplifies matters for investors and other parties that are looking for certified Russian to English translations. Our Russian translators who are fluent in English and specialize in financial documents translation are ready to assist you with the translation of your bank statements. They have advanced knowledge of finance and have translated many documents for Russian clients. If you are an investor or an international student with Russian-language bank statements and would like to get them translated into English before you approach potential sellers or universities, please get in touch with us. We look forward to reviewing your financial documents and translating them from Russian to English. We suggest that you consider our professional Russian translation services if you are in the process of purchasing an investment property and you have your bank statements in the Russian language. You can email your Russian-language documents to info@cacfti.com for an estimate.
