Service · Armenia

Opening a bank account in Armenia as a non-resident

Armenian banks open accounts for foreign individuals and companies, and often do so quickly, but compliance rules tightened in August 2026. We choose the right bank, prepare the file and accompany you to the branch.

Banks and currencies

Armenia has 17 commercial banks, and most of them serve non-residents, including Ameriabank, Ardshinbank, ACBA, Inecobank, Evocabank, Converse Bank and Araratbank. Accounts in AMD, USD and EUR are standard, and many banks also offer RUB.

Do you need to come to Armenia?

Yes, once. The first identification must be done in person at a branch and cannot be done by video. After that, most banking can be done remotely.

What banks ask for

Individuals

• A valid passport
• An address, in Armenia or abroad
• Evidence of source of funds, if the bank asks for it
• A Social Services Number is optional but helps

Companies

• Charter and registry extract, apostilled or legalised, with Armenian translation
• Tax registration certificate
• Declaration of ultimate beneficial owners
• The director attends in person

What changed in August 2026

New internal-control standards of the Central Bank of Armenia took effect on 12 August 2026. Banks must screen clients, counterparties, citizenship and ownership, and block transactions that may be meant to get around sanctions on Russia. Monitoring is automated, and banks must reassess clients within one business day of a change to a sanctions list. Applicants with links to Russia are often asked for proof of Armenian residence and source of income, and some banks refuse them.

How long it takes

Publicly reported timelines are 1–10 business days for individuals and 3–14 business days for companies, longer when the company is foreign-owned.

How we help

• Choose the bank that fits your profile and payment flows
• Prepare, translate and legalise the documents
• Book the branch visit and accompany you
• Answer the bank's compliance questions until the account is open
• If you also need an account in Georgia, see opening a bank account in Georgia

Frequently asked questions

Can I open an Armenian bank account remotely?

Not the first time. One visit to a branch is required for identification. After that, most banking can be done online.

Can Russian citizens open an account in Armenia?

Often yes, but with more checks: banks usually ask for proof of Armenian residence and source of income, and some banks refuse.

Can a foreign company open an account in Armenia?

Yes, with legalised and translated corporate documents, a tax registration certificate, a beneficial-owner declaration and the director present in person.

Which currencies are available?

AMD, USD and EUR at all major banks. Many banks also offer RUB.

Related services

Information current as of September 2026. It is general information, not legal or tax advice.