Practical Guide How to Open a Bank account in ARMSWISSBANK

Dear Customer!

Thank you very much for interesting in ARMSWISSBANK’s Services.

Opening a bank account in our bank will allow you to take all advantages and enjoy the professionalism of our staff and quality of our services. By reading this guide you will find usfull information on how to open bank account in our books and some practical issues you can meet during maintaining account and run financial operations.

ARMSWISSBANK opens account for natural persons, legal entities, as well as professional financial intermediaries, whether resident or non-resident. For non-resident legal entities, the Bank opens accounts if the Client and his / her business, owners’ structure, organizational-legal form are disclosed and acceptable to the Bank.

Not all businesses are acceptable for us. We do not open accounts tocustomers who are involved in trade of weapons,ammunition, army equipment, drugs, trafficking, and money laundering. The customers, applying for account opening must disclose information on type of business, nature of expected financial means turnower and information on ultimate beneficiary owner(s). We do not open account(s) for business whose shares are issued as a bearer ones.

For non-resident legal entities, the Bank opens accounts if the Client and his / her business, owners’ structure, organizational-legal form are disclosed and acceptable to the Bank.

In the account(s) opening process we are following on international community requirements such as UN decrees, National law requirements as well as our internal policy requirement. The Customers may be asked to provide proves of the provided information during the account opening,maintaining and executing financial operation. The suspicious transactions could be suspended or rejected.

ARMSWISSBANK has joined to FATCA (Foreign Account Tax Compliance Act , web site:www.irs.gov, according to which the Information on US Tax Payers will be provided to US appropriate authorities.

ARMSWISSBANK publishes on its web site up to date Tariffs for account opening, maintaining and executing transactions. Please refer to the appropriate sections in our web site to be aware of it.

The set of documents we require for account opening has a purpose of Customer identification, understanding nature of the business and financial transactions.

  1. Account Application Form, provided by ARMSWISSBANK.
  2. Passport or other Identification document or its copy, verified by Public Notary.
  3. Social Services Number, for residents of Armenia
  4. Proof of residence, such as utility bills, bank account statements.
  5. Cards of signature specimen, provided by ARMSWISSBANK.
  6. FATCA form(s) provided by ARMSWISSBANK.
  1. Bank account opening Application provided by ARMSWISSBANK.
  2. Charter of the company.
  3. State Register Certificate.
  4. List of persons authorized to deal with ARMSWISSBANK with their
  5. Signatures specimen provided by ARMSWISSBANK.
  6. ID or passport of executives as well as persons, listed in authorized persons list.
  7. Information about shareholders/participants with the copies of their ID or passports.
  8. Information about ultimate beneficiary or beneficiaries.
  9. Orders or decisions on executive appointment
  10. Copy of tax code (if applicable).
  11. Properly formed and ratified power of attorney (in case of delegated authority)
  12. FATCA form(s) provided by ARMSWISSBANK.

The list of Documents for this type of Customers is the same as for Corporate Entities, but ARMSWISSBANK will require additional set of documents, regulating their professional activities.

For Armenian residents the account opening procedure takes up to two banking days. For Non-resident, especially for those who have applied for account opening remotely, the procedure could take up to two weeks after providing full set of documents required for account opening.

Those, who are interested in opening account in our books can apply by site visiting our premises, use on line forms available in our web site www.armswissbank.am or write us by cs@armswissbank.am or call +374 60 757-000, +374 11 757-000

Our staff will guide you on the account opening process.