Personal accounts: Armenia

Updated 6 October 2026

An honest assessment before work starts, the quote is fixed in writing.

Armenian banks open accounts for foreigners, including non-residents, on a passport and operate under the supervision of the Central Bank of Armenia. A Russian citizen does not need a residence permit for an account. But 2026 is not 2022, when anyone who reached the counter got an account: since late 2025 banks have become more cautious, and since 12 August 2026 checks on citizenship, address and tax residence are set in Central Bank rules.

Can you open an account in Armenia without residence or a visit

A residence permit is not needed, but a visit is. Armenian banks do not carry out a client's first identification remotely, so an account is opened only in person. Often everything fits into a single branch visit if the documents are ready and the purpose of the account is clear.

Before the bank you will need a public services number, commonly called the social card. The Migration Service issues it to foreigners lawfully in Armenia, in person, through a representative or online. Without this number no account will be opened.

Which banks accept Russians

Banks decide for themselves who to work with, and there is no single list. What matters more is how they look at a client:

• Large banks with international cards check the source of money and ties to the country more strictly.
• Banks with low fees are convenient for living in Armenia, but their cards are less useful abroad.
• Many people who moved keep two accounts: one in a large bank with an international card and one in a low-fee bank for life in the country.

Banks issue international and local cards. An account is usually multi-currency, and several cards can be issued for it.

Documents for the account

Timelines and running costs

Opening a current account as a non-resident costs from free to about $140, in most banks $30-60. A card costs $10 to $30 a year, free in some banks, and running a personal current account is usually free. Amounts are at the Central Bank of Armenia rate, about 362 dram per dollar.

Armenian residents pay income tax at a flat 20%. Tax residence depends on where you actually live, not on having an account. When applying for residence, bank documents prove funds and income; see the Armenia residence permit page.

The cost of Murblz support depends on the bank and your situation; a manager will calculate it in chat.

Tax data exchange and notifying the Russian tax service

Armenia carried out its first automatic exchange of tax information in September 2025, with 21 partners at the time. Since 12 August 2026, under Central Bank rules, banks check clients' citizenship, address and tax residence, so the form must be filled in accurately and without contradictions.

Russian tax residents notify the tax service of opening a foreign account within one month, separately for each account, and file a report on account flows for the previous year by 1 June. Anyone who spent more than 183 days outside Russia in a calendar year is exempt from both. If the bank's country exchanges tax information with Russia, the report is not filed when no more than 600,000 roubles, about $7,100, came into the account during the year, but the opening notice is still required. How to file is explained in our articles on the foreign account notification and the account flow report.

Common refusals

• No ties to Armenia: no lease, job, business or studies.
• The source of money is not documented.
• Links to countries and persons under sanctions, which Armenian banks check especially closely.
• Activity the bank considers high-risk.
• Turnover does not match the stated purpose.

Banks also reject some payments and close accounts already opened, citing internal checks, so the first check is worth passing carefully.

What we do

Murblz specialists choose the bank for your currencies and payment countries, prepare documents and the explanation of the source of funds, help with the public services number and accompany the branch visit. If needed, we register a company and build the route to a residence permit.

This topic in other countries

Accounts for non-residents in other countries:

• Bank account in Georgia for non-residents
• Bank account in Turkey for non-residents
• Bank account in Serbia for non-residents
• Bank account in Kyrgyzstan for non-residents
• Bank account in the USA for non-residents
• Bank account in Uzbekistan for non-residents
• Bank account in Cyprus for non-residents
• Bank account in Switzerland for non-residents
• Bank account in Singapore for non-residents
• Bank account in Hong Kong for non-residents
• Bank account in Germany for non-residents
• Bank account in Spain for non-residents
• Bank account in Portugal for non-residents
• Bank account in Thailand for non-residents
• Bank account in Argentina for non-residents
• Bank account in Paraguay for non-residents
• Bank account in Uruguay for non-residents

More on this country:

• Armenian bank card for Russians
• Armenia residence permit
• Taxes in Armenia
• Armenia: all programmes

All countries and rules are in the overview a foreign bank account in 2026.

What we do

• Personal account - opening assistance

See also

Company formation · Business account · Investment property · All country programs

FAQ