Armenia

corporate Bank Account

Opening a business bank account in Armenia

Armenia is a growing financial center, and it may be an ideal banking location for companies doing business in CIS countries and transacting in Russian Rubles. Non-resident individuals and companies are welcome to open accounts, including companies incorporated in tax neutral jurisdictions.

Our banking connection offers current accounts, call-deposit accounts and fixed deposit accounts in AMD, USD, EUR and RUB with high-interest rates (5% to 10%). The bank also offers Visa Multicurrency cards and full-service internet and mobile banking facilities.

There are no significant requirements to open the account other than a minimum deposit of USD 50,000 for companies and USD 100,000 for individuals.

All in all, Armenia is an interesting banking hub for those doing business in Eastern Europe or looking at high-yielding fixed deposits.

We work with 1 different banks in Armenia, each bank has different eligibility requirements, types of accounts available and onboarding processes.
We invite you to carefully review each banks requirements and services to better understand if their banking services meet your needs.

Bank Accounts in Armenia

click the bank for more details

Bank Option 1

Account Details

Corporate
Not Required
USD 50,000

Country Details

Armenia
AMD
Yerevan
Asia
2,968,000

Armenia, officially known as the Republic of Armenia, is a landlocked country situated in the South Caucasus region of Eurasia and is bordered by Turkey to the west, Georgia to the north, Azerbaijan to the east, and Iran to the south. Despite its landlocked status, the country is home to Lake Sevan, one of the largest freshwater, high-altitude lakes in the world. Armenia's capital city is Yerevan, which is both the largest city and the political, cultural, and economic heart of the nation. The official language is Armenian, but Russian is also a commonly spoken language, and the national currency is the Armenian Dram (AMD).

Armenia has a heritage that can be traced back to ancient times, with a history that includes the Urartu Kingdom, the Kingdom of Urartu, and the Kingdom of Urartu, as well as a rich tapestry of cultural, religious, and historical milestones. One of the most iconic symbols of Armenia is the biblical Mount Ararat, said to be the resting place of Noah's Ark. This mountain is located just across the border in modern-day Turkey, and it can be seen from Yerevan.

Armenia is a democratic republic with a parliamentary system of government. The President is the head of state, and the Prime Minister is the head of government. The National Assembly, Armenia's legislative body, plays a vital role in the nation's political landscape.

In recent years, Armenia has made significant strides in strengthening its democratic institutions and processes. The Velvet Revolution in 2018 marked a turning point, as peaceful protests led to a change in leadership and a renewed commitment to transparency and good governance.

Armenia has an active presence on the international stage. It is a member of the United Nations (UN) and various international organisations, contributing to global initiatives and development programs. The country has also been a part of the Commonwealth of Independent States (CIS), an association of former Soviet republics, and maintains relations with numerous countries worldwide.

The country's economy has experienced periods of growth and transformation. While it faces challenges, including geopolitical complexities and the legacy of a devastating earthquake in 1988, the nation has shown resilience and adaptability.

Today, Armenia's economy is diverse, encompassing sectors such as agriculture, manufacturing, IT, and mining. The IT sector, in particular, has seen remarkable growth, earning Armenia the nickname "Silicon Mountains."

Tourism is also an emerging industry, as visitors explore Armenia's historical sites, including ancient monasteries, fortresses, and museums. The country's natural beauty, like Lake Sevan and the scenic landscapes of the Caucasus Mountains, attracts travellers, too.

Services & Fees

Our banking support service is not just a mere introduction to the bank. We assist you in filling out the business questionnaires appropriately and help you understand and provide business details, commercial information and purpose/use of the bank account that a given bank wants to know in order to approve your account application. Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal 'back and forth' and a smooth account opening process.

Bank Account opening requirements are subject to change at the discretion of the bank. There might be additional fees charged by the bank itself. Bank account opening is not guaranteed and is subject to the bank policies and compliance department. There might be restrictions on UBO nationalities, business activities and/or jurisdictions. A refund is available if the account is not successfully opened subject to our terms of service (20% to partly cover service and payment processing and administrative costs apply).

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