How to open a bank account in Armenia for a Russian citizen in 2022? | Compare Banks
Good evening! I don’t want to dwell too much on why opening an account with a foreign bank has become relevant in 2022. In terms of opening an account abroad, Armenia stands out because:
Armenia is a friendly country simultaneously with the Russian Federation and Europe,
here, almost any employee of a bank or government institution speaks Russian,
In Armenia, there is a fairly wide range of options for opening a ruble bank account, unlike, for example, Georgia.
I rode in a number of CIS countries and not only, I discovered something, I received something. Today is about banks and about Armenia.
The flow of IT to Armenia is very very large, in addition to IT and freelancing, who need to receive salaries in foreign currency from foreign counterparties, to do proof of residence, a crowd of people has been added who run to withdraw the ruble for subsequent conversion into foreign currency in Armenian banks, with subsequent transit to third countries. Banks, on the one hand, are happy, on the other hand, in this flow of people there is a lot of gray material that is difficult to process. As a result, Armenian banks set more than severe requirements for opening an account. The Russians who have moved to Armenia for real, in a serious way, somehow cope with these requirements, while it becomes more and more difficult for card tourists.
We compare banks from the simplest to the most complex. In advance, to the question whether it is possible to open an account in a bank of Armenia remotely or on a turnkey basis, by proxy – the answer is – it is impossible! In Georgia it is possible, in Kazakhstan it is still possible, in Armenia it is impossible. By proxy, no accounts are opened by individuals. neither legal persons.
They say that you can open an account with IDBank remotely, but this is not true. There is only the option of remote filing for a preliminary application, this is the maximum that is available.
So for banks:
In the past, it was a private bank that dealt with mortgages and loans. When the mass move began, the guys decided to take advantage of the situation and reorganized under the service of physical. persons. Open an account in one day just a passport. The AMD/USD/EUR multi-currency card can be obtained the next day under the accelerated program. For additional bills, you will have to pay 300,000 AMD. Maintenance of a Visa Classic card costs AMD 50,000. per year (paid immediately). Unibank is heavily criticized for ancient banking, delayed SMS notifications, and delayed account balance updates. Unibank has gained a record number of clients, therefore, most likely, the service will be put in order after some time. Unibank is the easiest and most expensive bank to open an account.
notarized lease agreement for at least 4 months,
Armenian SIM card.*
It is very, very difficult and expensive to live with an Armenian SIM card if you return to your homeland. Ardshin Bank is the only bank without glasses where you can try to ask an employee to open a Russian SIM card.
Opening an account costs AMD 15,000. If you need accounts in different currencies, you need to pay money for each, monthly maintenance for each card is 400 AMD.
Cons: Very long queues, stand for at least two hours, it is better to come and take a queue in the morning, before the bank opens. The application, in March, was similar to Windows XP Explorer. Now there is an improvement in the picture, the application has become more or less tolerable. In general, one should not count on super-cool banking in Armenia yet. The worst banking will have the level of 2012 in the Russian Federation, the coolest – 2017.
rental agreement for 6+ months,
an employment contract in Armenia or an extract from an account in the Russian Federation for six months or an extract from a local account for 3 months.
Opening a multi-currency account – AMD 50,000, for each card another AMD 30,000. Neither I nor my friends opened an account, and it is not known who opened it. There are people who came in and left, saying “not very good”, but I’m sure that now, with new requirements, it’s better to bypass all 17 Armenian banks and calm down only when at least one approval is obtained.
lease agreement for 3+ months,
2-NDFL / Tax return for individual entrepreneurs / sometimes a bank account statement,
Employment contract or certificate of registration of IP.
AMD account is free of charge, maintenance is 1200 AMD. in year. Foreign currency accounts are opened only after 6 months of residence in Armenia*
* A social card is something like SNILS, only paper. It is issued in a passport sheet at the place of registration. If you are older than 1980 and arrived on a passport, then everything is OK, they will issue you within 30 minutes, if you are older (they do not have a base), then they will issue you with a scratch or you will have to wait 3 days, if you arrived on a Russian passport, then it will be hell, you need to provide copies of parents’ birth certificates and wait 7-10 days.
** I suspect that this requirement will soon appear in all banks and institutions in Armenia that work with non-residents.
notarized translation into Armenian
registration in Armenia (or certificate from the hotel with a stamp)
Service 20000 per year per card. Previously, non-residents generally abhorred, now 50/50 – a lot of failures.
Passport / internal passport,
notarized translation into Armenian of the registration page,
a lease agreement for 3+ months or a deposit in the equivalent of $10,000 or a certificate of registration of an individual entrepreneur, or a certificate of ownership of real estate in Armenia.
Service for three years 75 000 AMD. Paid at the time of account opening.
The most tolerable (in terms of banking) of the more or less light banks.
After Evoca, the most difficult banks begin..
foreign passport and internal passport of the Russian Federation,
2-NDFL, registration in Armenia or lease agreement for 6 months,
an employment contract in Armenia or a certificate of registration of an individual entrepreneur.
Account opening + Visa Classic AMD 15,000 If the balance is more than 50,000 AMD, the service is free, otherwise 300 AMD.
Passport / internal passport of the Russian Federation
employment contract (RF/RA)
certificate of employment / lease agreement (min. 6 months)
2-personal income tax for the previous year
Inecobank opens accounts for 12,000 AMD, another 4,000 AMD per year is charged for servicing the Visa Classic card. They also issue virtual cards for AMD 2,000 per year. For service, you can bind a Russian phone number.
A good bank with a normal application and average commissions. There is a support in the cart.
Russian passport page with registration
Residence permit in Armenia or certificate of legality of residence in Armenia.
Lease agreement for 3 months
2-NDFL or Tax Declaration, or an employment contract in the Republic of Armenia or the Russian Federation)
A cool bank in terms of application, it can be compared with Tinkov, it has its own Idpay payment system through which you can send and receive money to any RF bank card.
There are also disadvantages. The bank is the most expensive, each non-resident must first send a questionnaire and attach the required documents, no matter where you are in the Russian Federation or Armenia. You need to wait 3-7 days for approval. There are many rejections.
lease agreement for 6 months,
employment contract in Armenia / residence permit / certificate of registration of an individual entrepreneur in Armenia
Opening an account 25 000 AMD, maintenance 2 000 per year. If the turnover for six months on the account is more than 150,000 AMD – free of charge. Visa Classic – 2500 AMD per year. The commission for withdrawing currency from ATMs is the smallest in Armenia, 1%.
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