Bank Account Opening in Armenia
We open Armenian bank accounts for foreigners and non-residents — including Chinese citizens — handling the PSN, document translation, KYC dossier and bank appointments end to end, in person or remotely.
Who can open a bank account in Armenia
Armenian banks serve foreign citizens, including non-residents who do not live in the country. You do not need an Armenian residence permit or a local company to open a personal account. For business accounts, a registered Armenian company (which we can set up in a few days) is required.
- Personal multi-currency accounts: AMD, USD, EUR and other currencies
- Business accounts for Armenian companies with foreign founders
- Accounts for investors, freelancers, IT specialists and retirees
Required documents
The core requirement is a valid passport plus an Armenian Public Services Number (PSN). If you do not have a PSN yet, we obtain it for you — it typically takes a few working days. Banks may also ask for proof of address and an explanation of the source of funds.
- Passport with notarized Armenian translation
- Armenian Public Services Number (PSN) — we arrange it
- Proof of address (home country or Armenia)
- Source-of-funds explanation for compliance (KYC)
How the process works
We start with a free consultation to understand your situation and select the right bank. Then we prepare the full compliance dossier, book the appointment, and accompany you (or act on your behalf) at the bank. Most personal accounts are opened within a few days once documents are ready.
- Step 1 — free consultation and bank selection
- Step 2 — PSN, translations and notarizations
- Step 3 — KYC dossier and bank appointment
- Step 4 — account opened, online banking and card issued
Remote account opening without visiting Armenia
In many cases the account can be opened remotely via a notarized power of attorney — you sign documents at the Armenian embassy or with a local notary abroad, and we complete the process in Yerevan. Availability depends on the bank and your citizenship; we confirm the route during the consultation.
Banking in Armenia for Chinese clients
Our Chinese-speaking team prepares documents in Chinese, English and Armenian, explains every compliance requirement in plain language, and stays in touch over WeChat. UnionPay cards work in Armenia, and a China–Armenia central bank currency swap line supports CNY-related settlement infrastructure.
Frequently asked questions
Can a foreigner open a bank account in Armenia without living there?
Yes. Armenian banks open accounts for non-residents. You need a valid passport, an Armenian Public Services Number (PSN) and a clean KYC dossier. No residence permit is required for a personal account.
How long does it take to open an account?
With documents ready, a personal account is usually opened within a few working days. The PSN and translations add a few more days if you do not have them yet.
Can the account be opened remotely?
Often yes, via a notarized power of attorney. The exact route depends on the bank and your citizenship — we confirm it during the free consultation.
Which currencies can I hold?
Most accounts are multi-currency: Armenian dram (AMD), US dollar, euro and others. UnionPay-compatible and dual-brand cards are available.
Related reading
The Armenian Banking System: A Practical Guide for Foreigners
Armenian banks are modern, multi-currency and open to non-residents. This guide explains the major players, what KYC looks like for foreigners, card systems including UnionPay, and how accounts get opened — in person or remotely.
Money and Currency in Armenia: AMD, Exchanges and Transfers
Everything practical about money in Armenia: the dram and exchange rates, how transfers to and from China, Russia and the CIS actually work, card systems including UnionPay, and the compliance norms to respect.
Armenia for Chinese Citizens: Visa-Free Living, Banking and Business
Since 2020, Chinese passport holders can stay in Armenia visa-free for up to 90 days in any 180-day period — and stay longer with a residence permit. This is the deepest practical guide for Chinese entrepreneurs, families and remote professionals considering Armenia as a base.