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Services · Personal accounts

Personal accounts: Armenia

An honest assessment before work starts, the quote is fixed in writing.

We assess your chances against your profile, prepare the compliance file, help you present your source of funds properly and handle communication with the bank until it decides. The final decision always rests with the bank, so no one can guarantee an opening - careful preparation simply improves the odds.

We quote the exact cost for this country after a short consultation: it depends on the bank and your residency. The quote is fixed in writing before work starts.

Fees

ServicePrice
Personal account - opening assistanceon request

Prices are indicative and cover our work on a typical case. We confirm the exact quote in writing after a short call - you know the final number before we start. Government fees and bank tariffs are billed separately unless explicitly included.

See also

Company formation · Business account · Investment property · All country programs

FAQ

Can a Russian citizen open a bank account in Armenia?
Yes, Armenian banks do open accounts for non-residents including Russian citizens, but the approach is stricter than it was in 2022. The bank will ask about the purpose of the account, the source of funds and your connection to the country. Refusals happen and the decision is always the bank's.
Do I need a residence permit in Armenia to open an account?
No, a foreign passport is normally enough for a non-resident account. Residency, a local phone number and an address make the process smoother and open up more products. Requirements vary between banks.
Can I open an Armenian bank account remotely?
A branch visit is the standard for non-residents. Some banks accept a power of attorney prepared and legalised in advance, but this has to be cleared with them first. Treat promises of fully remote opening with caution and verify directly with the bank.
Is an Armenian account reported under CRS?
Armenia has joined the automatic exchange of financial information, and non-resident account data is reported to the country of tax residence. Do not assume an Armenian account is invisible to your tax office. Whether you must declare a foreign account depends on your own country's rules.

Don’t want to figure this out alone?

We handle the whole process end to end: we assess your chances with specific banks, prepare your documents and give you honest timelines. Leave your details and a personal banking expert will get back to you. The first consultation is free.

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