Bank Account in Armenia for Non-residents in 2026: Documents, Methods, and Fees

A non-resident can open a bank account in Armenia, but there is no unified list of required documents for all banks. The law obliges the bank to establish the client's identity, understand the source of funds, and the nature of operations. After that, each bank defines the list of documents and client categories on its own. Published lists by banks and the government guide agree on the basics: passport, proof of income, and justification of connection with Armenia (such as residence permit, real estate, sole proprietorship, share in a company, or deposit). Below are the legal requirements, the conditions of three banks, and the step-by-step process, with data checked as of 11.11.2026.

Legal Requirements

Banks in Armenia operate under the Law “On Combating Money Laundering and Terrorism Financing.” We refer to the translation on the Central Bank website, which includes amendments HO-261-N from 03.07.2025. Five provisions are relevant:

The bank may complete identity verification within a reasonable time, but no later than 7 days after the beginning of the relationship, if risk is under control and needed to maintain normal relations (Art. 16 part 1). For relationships without the client’s physical presence, the bank is obliged to develop policies and procedures for risk management, including identification and verification (Art. 18 part 3).

If the bank cannot fulfill these obligations, it must refuse the operation or business relationship and assess whether it should be considered suspicious (Art. 27 part 1). Therefore, a complete and honest set of documents is more important than speed. General regulatory information is available on the Central Bank page on anti-money laundering.

What Documents Do Banks Require?

There is no unified list. Below is what banks publish for foreign individuals.

The IDBank memo refers to income certificates “for 2021-2022,” and no date is given for the memo itself. Before submitting your documents, request the current list from the bank at nonresident@idbank.am. The official government guide on account opening for non-residents lists in general: passport (sometimes with notarized translation), proof of purpose and economic ties with Armenia, proof of income and source of funds, proof of address—including temporary address in Armenia. Banks may request additional documents, and requirements may depend on the country of origin.

Account for a Non-resident Legal Entity

If you are opening an account for a foreign company, the required document set is broader. According to Evocabank:

• Charter or equivalent document;
• Certificate of registration issued by the competent authority of the country of registration, and document on tax registration;
• Tax number (TIN), if not listed on certificate;
• Passports of the director and appointment document (for non-residents), as well as IDs of account-holders;
• Beneficiary documents: passport for individual, registration documents for legal person;
• Financial statements for the prior year and auditor's report;
• License, if the activity is licensed.

By law, the bank is required to establish the beneficiary (Art. 16 part 5). This is an individual who directly or indirectly owns 20% or more of voting shares or interests, or otherwise controls the company (Art. 3 part 1 par. 14).

Is Residency, Social Security Number, or Lease Required?

• Residence permit or real estate. IDBank requires one of the two. Evocabank, for its remote opening, lists four categories: real estate owner in Armenia, client ready to make a deposit, sole proprietor in Armenia, member of an Armenian legal entity.
• Deposit. According to the Armenian-language page of Evocabank, the client must be ready to make a deposit for at least 6 months and not less than 20,000 USD, 20,000 EUR, 1,500,000 RUB, or 10,000,000 AMD. The English version states “up to”, so check terms with the bank.
• Lease agreement. In published requirements for both banks, lease is not listed as a basis. The bank makes the final decision.
• Social security number (SSN). IDsBank and Evocabank do not list SSN for non-residents in their document lists. However, the law on public service number requires one if applicable, including for foreigners with residence rights (Art. 2 part 1, Art. 3 part 3 par. 3 of the law). Details: SSN and tax number.
• Tax residency. This determines taxes on interest and income: tax residency.

Grounds for residency are provided separately: residency grounds.

Remote or In-Person

According to IDBank’s memo, a branch visit is needed after approval. IDBank’s fees page lists a remote identification service for non-residents for 25,000 AMD—the details of which are not disclosed online, so confirm with the bank. Evocabank claims an account can be opened without a visit, but only for specified categories of clients.

After approval at IDBank, you can open accounts and cards (Visa Debit, Mastercard) in AMD, USD, EUR, and RUB. For withdrawal or transfer of large sums not connected to deposits or bank bonds, a separate agreement may be needed.

Fees: Published Information

Under its remote program, Evocabank charges 0.5% on incoming wire funds and client transfers. Fees outside this program are different; see the bank’s fees page. Account types: USD, EUR, RUB, AED, GBP, CHF, CNY, CAD. Account closure at Evocabank is free. At Ardshinbank, no minimum balance is required, monthly statements are free, account closure by client request is free, and otherwise costs 2,500 AMD (Ardshinbank fees).

Ardshinbank's fees apply to legal entities and sole proprietors; these do not apply to personal accounts. IDBank’s rates are taken from their fees page: first account for a non-resident individual, 10,000 AMD; maintenance 1,000 AMD per month or 12,000 AMD per year; remote identification of a non-resident 25,000 AMD. Effective dates are not indicated.

Russian Citizens

IDBank and Evocabank's published policies do not list citizenship as a restriction. However, banks verify the source of funds and may refuse (Art. 27). For how Armenian banks handle Russian cards and transfers, see the article Transfers from Russia.

Step by Step

1. Determine which category you fall under: residence permit, real estate, sole proprietorship, company share, deposit. IDBank accepts an employment contract with an Armenian employer as an additional document.
2. Prepare passport, proof of income, and the bank’s questionnaire. Check with the bank whether translation is required.
3. Submit your application by email to the bank or via its application.
4. Wait for a decision. IDBank reviews in 72 hours.
5. If a branch visit or video call is needed, schedule the time.
6. If the bank refuses, ask which document was missing, and apply to another bank meeting their requirements.