Business accounts: Armenia
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Armenia has an open banking system in which foreigners, including non-residents, can open an account with a passport. Banks are supervised by the Central Bank of Armenia, and the national currency is the Armenian dram. In recent years Armenia has become popular with entrepreneurs and remote specialists: companies are registered online with no state fee or minimum capital. Below: how to open an account, what the bank checks and how the account, company and residence connect.
What you need for an account
- A passport and usually an Armenian public services number or its non-resident equivalent, which the bank helps arrange.
- Proof of address in Armenia or your country of residence.
- Income details and source of funds.
- The purpose of the account and expected turnover.
A company and the account
Armenian companies are registered online through the electronic state register of legal entities: there is no state fee or minimum capital for a limited liability company, and by law registration takes up to two working days. Within about 20 days of registration the tax regime must be chosen: the simplified turnover tax or the general regime with 20% VAT and 18% profit tax. More in company registration in Armenia.
Documents
- passport;
- an identification number or a certificate of not having one, which the bank helps obtain;
- proof of address;
- income details and source of funds;
- for a company, a register extract, articles and owner details.
Why applications are refused
- an unverified source of funds;
- links to sanctioned countries and persons, which Armenian banks check especially carefully;
- activity the bank considers high risk;
- turnover that does not match the stated purpose.
What we do
We choose a bank, prepare documents and a source-of-funds explanation, support the account opening and, if needed, register a company and build a route to residence. A manager will calculate the cost in the chat.
Moving a business to Armenia: 2026 requirements
The account is opened for an Armenian limited liability company or a sole trader. Every foreigner first needs a public services number, issued free and immediately by the Migration and Citizenship Service against a passport notarised in Armenian. From 1 November 2026 residence for entrepreneurs changes: first temporary for a year, permanent only after three years, the temporary permit fee rises from about $290 to $415, and you must show AMD 1 million, about $2,800, on account or the same turnover.
Company taxes
| Tax | Rate |
|---|---|
| Profit tax | 18% for a company, 23% for a sole trader on the general regime |
| VAT | 20%, exports zero-rated |
| Turnover tax | 1-20%, most often 10%, for turnover up to AMD 115 million, ~$316,000; 1% for high tech |
| Micro business | 0% for turnover up to AMD 24 million, ~$66,000; not for trade, consulting or IT services |
| Dividends | 5% |
Since 1 July 2025 consulting and recruitment have no simplified regimes at all, only the general one. More on our Armenia taxes page.
What changed at banks
Since 12 August 2026 Central Bank of Armenia rules require banks to check a client's citizenship, address and tax residency and to stop payments that look like sanctions evasion. So for a company account we prepare contracts, a business description and proof of the source of funds in advance.
What we do
- We choose the form and tax regime: a sole trader has only 20 days after registration to choose.
- We obtain the public services number and register the company.
- We prepare contracts, a business description and source of funds for the bank.
- We handle the entrepreneur residence documents under the rules from 1 November 2026.
Reporting and deadlines
Turnover tax is calculated and paid quarterly, by the 20th of the month after the quarter: 20 April, 20 July, 20 October and 20 January. Reporting is electronic. The permanent residence fee rises from about $390 to $690 from 1 November 2026, and fees are not refunded on refusal: you pay for the review, not the card.
What we do
- Corporate account - opening assistance
See also
Company formation · Personal account · Investment property · All country programs
FAQ
Can a non-resident open a bank account in Armenia?
Who supervises banks in Armenia?
What is the profit tax rate in Armenia?
Can a foreign company open a bank account in Armenia?
Do I need to visit Armenia to open a company account?
What does compliance at an Armenian bank check?
How long does it take to open a company account in Armenia?
What does moving a business to Armenia require in 2026?
What taxes does a company pay in Armenia?
Is there a simplified tax regime for consulting in Armenia?
When is Armenian turnover tax paid?
Which bank in Armenia suits your company?
We compare Armenian banks on their rules for non-residents and accounts in dram, dollars and euros, prepare the compliance pack and guide the opening. The catalogue covers every country.
The Murblz consultant replies straight away in the chat on this page. Describe your situation and we will work it out together.
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