Open an account in Armenia

Due to its geographical location, convenience of the offered services and their availability, Armenia is gradually acquiring the status of a financial center. At the same time, not only local companies, but also foreign, non-resident companies can open corporate accounts in the country. For Russian-speaking clients, a great advantage will be the opportunity to communicate with bank representatives in their native language.

 

Benefits of opening an account in Armenia

Opening a corporate account in a country like Armenia can be beneficial and convenient for the following reasons:

  • Flexible service rates.
  • Low requirements for the real economic content of the company.
  • Availability of Russian-speaking managers and representatives.
  • Possibility of remote account opening.
  • Quick check and review of documents.
  • Possibility of making payments in foreign currency, including US dollars.

 

In accordance with the existing goals and the indicated tariffs, you can choose a bank that provides the greatest benefits in a particular case.

 

List of documents for opening an account in Armenia

To open an account, you must collect the following package of documents:

  • A completed application with information on the directions of the organization, financial partners of the company. The application form is provided upon receipt of the request.
  • Information about the representatives and owners of the company, indicating work experience and information about the education received.
  • Copies of identification documents.
  • Corporate documents of the company, which depend on the country of registration, organizational and legal form and other factors. Usually these are statutory and title documents, extracts from registers and others.
  • Information about the purposes of opening an account in another country and further economic plans of the organization.
  • Statements from other banks on the availability of open accounts.

 

The presented list of documents is approximate and, depending on the specific situation, can be changed up or down.

 

For documents written in English and Russian, additional translation into Armenian is usually not required.

 

Registration procedure

After choosing a suitable bank in accordance with the proposed terms of service and the benefits it provides, you can proceed to the registration procedure.

 

Opening an account in a foreign bank is always associated with preliminary client verification and preparation. In general, the whole procedure can be divided into 2 main stages:

  • Providing the necessary documents and obtaining preliminary confirmation for opening an account.
  • Direct account opening.

 

At the 1st preliminary stage, there is:

  • Collecting a package of documents indicated in a specific situation.
  • Preparing the collected documents and sending them to the bank for approval to open an account.

 

After the approval of the submitted application, stage 2 begins, which includes:

  • Collection of additional documents at the direction of the bank and their correction, if necessary.
  • Passing the identification of the account manager.
  • Obtaining account details, bank cards, data for entering your personal account.
  • Final opening of a current account.

 

Opening an account in a foreign bank is different from the usual procedure in Russia. During the entire process, it is important to keep in touch with the selected financial institution and respond to all inquiries in a timely manner. To save time and guaranteed results, you can contact Lawrange.

 

Cost of the service of opening an account in Armenia

The cost of the service is determined individually based on the conditions and parameters in a particular case. The main factors affecting the cost are:

  • Initial stage of preparation of documentation, taking into account the need for corrections and changes.
  • Number of related services provided.
  • Terms of service of the selected bank.

 

The price for full support when opening an account in Armenia varies on average from 1000 to 3000 euros.

 

The cost of services provided by Lawrange includes the provision of consultations at every stage of the procedure, legal analysis of documents, preparation, drafting, correction and sending of the entire package of documents, representation of interests in negotiations with bank employees.

 

Conclusions

Opening a bank account in Armenia will allow you to receive quality service with a wide range of services provided at a low cost. According to the reports of various rating agencies, the banking sector of Armenia is characterized by stability and resilience. All large banks are well capitalized and highly liquid. The combination of the above factors makes the country attractive for non-residents wishing to open a bank account. The Lawrange company provides full support when opening a corporate account in Armenia.

 

FAQ

How to open an account in Armenia online?

Some banks in the country, for example, AmeriaBank, provide the ability to open an account remotely without a personal visit to the office. To do this, you need to collect the documents indicated on the official website and send their scans by e-mail. Then a video call is made to identify the client and, if it passes, an account is opened.

To simplify the entire procedure, save time and guarantee the achievement of a result, you can contact the specialists of the Lawrange company.

 

Which is the safest bank in Armenia?

About 20 local banks and branches of international organizations operate in Armenia on a permanent basis. Most of them work with non-residents and provide appropriate services. The largest are AmeriaBank, Armbusinessbank and Unibank.

According to the authoritative magazine Global Finance, Ameriabank is the most reliable financial institution in the country. AmeriaBank is a universal bank providing various services. According to the main financial indicators for 2020, he became the leader in the banking system of Armenia.

 

What are the terms for opening an account in Armenia?

Depending on the internal rules of the chosen organization and the specifics of a particular situation, the term for opening a commercial account may vary. The procedure usually takes from 2 weeks to 1 month.

 

 

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