1. Starting a Business
  2. Becoming an Individual Entrepreneur
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Steps (5) arrow_drop_up arrow_drop_down
Make a payment (EI)  (1) expand_more expand_less
Register as an individual entrepreneur  (1) expand_more expand_less
Open a bank account  (1) expand_more expand_less
Become a turnover taxpayer  (2) expand_more expand_less

3
Open a bank account (IE)
(last modified: 25/02/2020)

Contact details

Entity in charge

Any bank operating in Armenia


Website: https://www.cba.am/en/sitepages/fscfobanks.aspx

Expected results

Bank Account Agreement

Requirements

1. Extract from state register agency (IE)
Extract from state register agency (IE)
In case of Armenian citizens
1. 01 - Libre deuda de patente
National ID card
or 01 - Libre deuda de patente
Passport & Social Services number
In case of foreign citizens
1. 01 - Libre deuda de patente
Passport
or 01 - Libre deuda de patente
Residence Card

Cost

AMD expand_more expand_less
  • AMD Add Name Here
Prices vary from bank to bank.

Generally it is free to open an account in AMD, however, there may be a small cost for other currencies. The maintenance fee ranges from 3000 - 10000 AMD.

Time frame

Waiting time in queue: Min.   5mn - Max.  20mn
Attention at counter: Min.   10mn - Max.   15mn

Additional information

Requirements for opening a bank account may vary from bank to bank.

There are 17 commercial banks operating in Armenia. You can find all the necessary information about all banks by following this link - www.cba.am/en/sitepages/fscfobanks.aspx

Recourse: Financial System Mediator

Entity in charge

Financial System Mediator

15 Khorenatsi str, “Elite Plaza” Business Center, 7th floor, Yerevan 0010
Tel: +374 60 701 111
Tel. 1: +374 10 582 421
Email: info@fsm.am
Website: https://www.fsm.am/en/
Directions: Google maps
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