In 1916 Russia, the Romanov family celebrates the 300th anniversary of their reign, with Grand Duchess Marie and her granddaughter, Anastasia, giving a music box to the young girl as a parting gift before she is sent to bed. The festivities are cut short when the villainous Rasputin, a former royal advisor turned traitor, places a curse on the Romanovs in revenge for his banishment. The palace is attacked, and in the ensuing chaos, Anastasia is separated from her grandmother as they attempt to escape through a secret passage. The young duchess hits her head, causing amnesia and leaving her with no memory of her royal past.

Years later, in the Soviet Union of the 1920s, an orphaned girl named Anya emerges from a rural orphanage with no recollection of her heritage or family. She decides to head to Paris, the hub of émigré Russians, to uncover the truth about her past. Anya encounters two con men, Dimitri and Vladimir, who are seeking a young woman to impersonate the missing Anastasia to collect the reward offered by the exiled Grand Duchess Marie for her return. Recognizing Anya's striking resemblance to the lost princess, they decide to groom her to pass as Anastasia. Unbeknownst to them, Anya is the real Anastasia, but as they travel together, both Anya's past and their deceptive intentions become increasingly complex.