How to Open a Bank Account in Armenia for a Legal Entity
Below we describe the requirements of banks, the advantages of Armenian banks, and the cost of services.
Bank Requirements for Opening Corporate Accounts
After registration, to begin operations, it is necessary to open bank accounts. Personal presence of the director is mandatory for this process, and in some cases, the presence of all shareholders may also be required.
For sole proprietors or legal entities where the shareholders and the director are non-residents or foreign nationals, Armenian banks usually require contracts with counterparties and proof of the seriousness of their business intentions. Additionally, for certain types of businesses, it may be necessary to demonstrate qualifications and experience in the respective field. The more reputable the bank in terms of business services, the stricter its requirements may be. Each business project is unique, and the requirements can vary significantly. However, with proper preparation for communication with the banks, the process can usually be resolved without major difficulties.
Advantages of Armenian Banks
Many Armenian banks are well-integrated into the global financial system. While this is proportionate to the scale and capitalization of Armenian banks, the number of foreign companies entering the Armenian market is steadily growing. The development of the country’s banking system in recent years provides a solid foundation for a swift transition to servicing larger sums of money—both by Armenian businesses abroad and by foreign businesses operating in Armenia. It’s worth noting that since Armenia’s independence, there has not been a single case of bank bankruptcy.
Service Fees for Opening Accounts and Registering Sole Proprietorships and Legal Entities
Upon request from existing companies.
Banking Consultations
For individuals and legal entities on banking services in Armenia
(For English-speaking clients)
Consultation on choosing a bank, document preparation for account opening, and assistance at the bank.
The cost of services depends on the complexity of the request and your citizenship, as well as the need for tax consultations. The indicated price does not include bank fees or other expenses.
Consultation/Registration/Assistance
Consultation on choosing the legal form, taxation, and selecting a bank. Registration of a sole proprietorship (possible by power of attorney), preparation of founding documents, and registration of a legal entity (also possible by power of attorney), assistance with bank interactions, and tax registration. The indicated prices are base rates and do not include bank commissions, provision of a legal address, office or other space rental, accounting services, legal support, or ongoing financial management. The comprehensive cost of these services is calculated upon request and primarily depends on the citizenship and country of residence of the founders and director of the legal entity or sole proprietorship.
Sole Proprietorships
from $700*Legal Entities
from $950*We look forward to hearing from you
An initial consultation may be free or paid, depending on the initial information and the amount of time required to review and discuss it.
Our employee will respond to your request as soon as possible ↓
