USD business account in Armenia
An Armenian company can hold US dollars in a foreign currency account at an Armenian bank, in a USD account abroad, or through a separate US company with its own account. Armenia's currency law places no restriction on current international transactions and lets residents conduct currency transactions abroad without restriction, while payments between residents inside Armenia are generally made in drams. This guide compares the options, the Central Bank of Armenia (CBA) rules, documents and the legal position of stablecoins under the 2025 Law on Crypto-Assets.
- Article 4 of Armenia's Law on Currency Regulation and Currency Control states that no restrictions may apply to current currency transactions and that residents may conduct currency transactions outside Armenia without restrictions.
- Article 6 of the same law requires prices and payments between residents for goods and services inside Armenia to be in drams, unless the law provides otherwise.
- Written non-cash contracts between an Armenian company or individual entrepreneur and a non-resident may be priced in foreign currency under Article 6(7).
- Armenia is not on Wise's list of countries where businesses can hold money, which Wise requires before it gives USD account details, and Airwallex does not list Armenia as a supported registration location.
- Armenia's National Assembly adopted the Law on Crypto-Assets on 29 May 2025, and providing crypto-asset services in Armenia requires a CBA license.
- A USD account abroad in the company's own name lets US clients pay by ACH or Fedwire, while local salaries, rent and taxes are paid in drams from an Armenian bank account.
USD business account options in Armenia: the short answer
An Armenian business can hold and receive US dollars in three main ways: a foreign currency account at an Armenian bank, a USD account with a provider outside Armenia, or a US company with its own US account. Armenian banks open business accounts in drams (AMD) and in foreign currencies, and Armenia is one of the more open currency regimes in the region.
Armenia's Law on Currency Regulation and Currency Control states that no restrictions may apply to current currency transactions, such as paying for imports and receiving export proceeds, and that residents may conduct currency transactions outside Armenia without restrictions, subject to the law of the other country. There is no export proceeds deadline or contract registration in the law's text. The main domestic rule is that prices and payments between residents for goods and services inside Armenia are generally in drams.
Each route answers a different need. Armenia's IT companies and agencies want US clients to pay them as easily as they pay a US vendor. Importers want dollars ready to pay suppliers in China, Russia and Europe. Trading companies often need both. This guide covers the Armenian rules, which foreign providers say they accept Armenian businesses, the US company route, documents, the legal position of USDC and USDT, and where a Helm USD account in the company's own name fits.
The options compared
The table compares the option types. It is not a ranking: many Armenian businesses use an Armenian bank account plus one account abroad.
| Option | Account name and location | How US payers pay it | Main rules and limits |
|---|---|---|---|
| USD account at an Armenian bank | Company's own name, Armenian bank | International wire (SWIFT) through the bank's US correspondent | Currency law; domestic payments between residents generally in drams |
| USD account with a foreign provider | Company's own name or a pooled account, held abroad | ACH, Fedwire or SWIFT, depending on the provider | Residents may transact abroad without restriction; provider's country list decides eligibility |
| US company with a US account | A new US company's name, US bank or fintech | ACH and Fedwire as a US business | Separate company, US tax number and filings |
| Stablecoin wallet | Wallet address, not a bank account | USDC or USDT on a blockchain | Law on Crypto-Assets; service providers need a CBA license |
Sources: Law of the Republic of Armenia HO-135-N On Currency Regulation and Currency Control; Law on Crypto-Assets; providers' own pages. As published on 29 October 2026.
ACH is the low-cost US domestic bank transfer system that US companies use for routine supplier payments. Fedwire is the Federal Reserve's same-day system for large US dollar payments. SWIFT is the international network banks use to send cross-border payments, identified by an 8 or 11 character bank code.
How to choose: start from where the dollars come from and where they go. A service exporter paid by US clients gains most from US account details, because a US client can then pay by ACH instead of an international wire. An importer needs a reliable outgoing wire and a clear rate when it converts drams. Any business with staff and premises in Armenia needs a dram account for salaries, rent and taxes. Most businesses end up with an Armenian bank account for local costs and one USD account abroad for collections and supplier payments.
Armenia's currency rules for companies
Armenia's currency rules sit in Law HO-135-N On Currency Regulation and Currency Control, adopted on 24 November 2004 and in force since 28 June 2005, with later amendments. The Central Bank of Armenia (CBA) supervises its application and sets the reporting forms.
Cross-border transactions
Article 4(1) states that no restrictions may apply to current currency transactions. Article 4(3) states that residents may conduct currency transactions outside Armenia without restrictions, subject to the law of the foreign country. Article 4(2) allows the CBA to set a procedure and conditions for capital flow and financial currency transactions, such as loans and investments.
Payments inside Armenia
Article 6 requires prices for goods, services and work to be quoted in drams, and payments between residents for them to be accepted and made in drams, unless the law provides otherwise. Article 6(7) allows prices in foreign currency in written non-cash contracts between a resident legal person or individual entrepreneur and a non-resident. Article 7(3) requires payments for currency transactions inside Armenia to be made in drams except in listed cases, and Article 7(4) allows non-cash payments for current, capital flow and financial currency transactions in foreign currency between legal persons and individual entrepreneurs. Banks may provide consumer loans and residential mortgage loans only in drams.
| Activity | Rule under the currency law |
|---|---|
| Holding US dollars at an Armenian bank | Allowed, in the company's own name |
| Paying for imports and receiving export proceeds | Current transactions; no restrictions may apply (Article 4(1)) |
| Holding an account and transacting abroad | Residents may conduct currency transactions abroad without restrictions (Article 4(3)) |
| Pricing a contract with a foreign buyer in USD | Allowed in written non-cash contracts with a non-resident (Article 6(7)) |
| Prices and payments for goods and services between residents | In drams, unless the law provides otherwise (Article 6) |
| Loans and investments across the border | Subject to any procedure the CBA sets (Article 4(2)) |
| Violations by non-licensed persons | Sanctions under the Code on Administrative Offences (Article 10) |
Source: Law of the Republic of Armenia HO-135-N On Currency Regulation and Currency Control, official translation on ARLIS. As published on 29 October 2026. Confirm current rules with your bank or counsel.
In practice, invoice foreign clients in dollars under a written contract, invoice Armenian customers in drams unless your adviser confirms an exception applies, and keep the contract and invoice for each foreign payment, because Armenian banks apply anti-money laundering and sanctions checks to incoming and outgoing wires.
Opening a USD account at an Armenian bank
Armenian banks open current accounts for companies in drams and in foreign currencies, with internet and mobile banking. Fees are set in each bank's published tariff for legal entities. Ameriabank's tariff for legal entities, for example, lists account opening, account maintenance, incoming foreign currency wire transfers and outgoing SWIFT transfers as separate items, with different maintenance terms for resident and non-resident companies. Ask for the current tariff edition before you open the account, and check three items in it: whether incoming USD wires are charged, the percentage, minimum and maximum for outgoing SWIFT transfers, and whether the bank or the beneficiary bears correspondent bank costs.
For outgoing wires, the charging option matters. OUR means the sender pays all charges, SHA means each side pays its own bank, and BEN means the recipient pays all charges. A supplier that must receive the full invoice amount needs OUR. Our guide to SWIFT fee options OUR, SHA and BEN explains the difference.
Companies owned by non-residents should expect a fuller review, including the source of the owners' funds and the company's real activity in Armenia. A USD account at an Armenian bank receives payments from US clients by SWIFT through a correspondent bank, which may deduct a fee in transit. Test the route with a small payment before a large invoice falls due.
Individual entrepreneurs and freelancers
Many Armenian freelancers work as registered individual entrepreneurs. Article 6(7) of the currency law covers them too: a written non-cash contract between an Armenian individual entrepreneur and a non-resident client may be priced in foreign currency. They can receive dollars into a USD account at an Armenian bank or through an online provider that accepts Armenian residents. Keep business receipts in an account separate from personal spending, and form a company once the business takes on staff.
Foreign USD account providers and the US company route
Eligibility is set by each provider. The table records what each states on its own pages; it is not a ranking.
| Provider | What its own pages state |
|---|---|
| Wise | Armenia is not on its list of countries where businesses can hold money; Wise states that USD details are available only where your address is in a country where you can open a currency account |
| Airwallex | Armenia is not on its list of supported registration locations; unlisted locations cannot be processed |
| Payoneer | Global fee page: receiving into an account in a currency that is not your local currency costs 1% (minimum 1.00 USD); different prices may apply in different territories; availability is subject to eligibility |
| Mercury | Accepts only companies formed and registered in the United States or a US territory, and publishes a list of founder countries it cannot support |
Sources: Wise on USD account details, Airwallex eligible countries, Payoneer pricing, Mercury eligibility. As published on 29 October 2026.
Before you apply, check whose name is on the account details, which rails they accept (ACH only, or also Fedwire and SWIFT), and how money reaches Armenia when you need drams.
A US company
Some Armenian founders form a US company, usually a limited liability company (LLC) or a Delaware corporation, and open a US account in its name. Mercury requires the company to be formed and registered in the United States or a US territory and to have existing or planned US operations. The company needs an Employer Identification Number (EIN), the US federal tax number for a business. The IRS instructions for Form SS-4 state that applicants with no legal residence, principal place of business or principal office in the US may call 267-941-1099 from 6:00 a.m. to 11:00 p.m. Eastern Time, Monday to Friday, and may fax the form to 304-707-9471 from outside the United States.
The US company is a separate entity with its own filings, and money it earns belongs to it, not to the Armenian company. Take Armenian and US tax advice before choosing this route; for many service firms, a USD account in the Armenian company's own name does the same job with one company instead of two.
Documents you need
Banks and providers ask for broadly the same company file. The list below is a typical checklist; each bank sets its own.
| Document | Armenian bank account | USD account with a foreign provider |
|---|---|---|
| State registration certificate and extract from the state register of legal entities | Yes | Yes, often with a certified English translation |
| Charter | Yes | Usually |
| Decision appointing the director and signatories | Yes | Usually |
| Passports of directors, signatories and owners of 25% or more | Yes | Yes |
| Taxpayer identification number | Yes | Often |
| Description of activity, counterparties and expected volumes | Often, especially for non-resident owners | Yes |
| Source of funds of the owners | Often | Often |
| Contracts or invoices for the first payments | Sometimes | Often, for the first large payments |
Typical requirements compiled by the Helm Editorial Team; requirements vary by bank and provider. As published on 29 October 2026.
Keep the company's name in the same Latin spelling on the register extract, contracts and invoices. A transliteration that differs between documents is a common cause of delay in incoming wires.
Crypto and stablecoins in Armenia: the Law on Crypto-Assets
Stablecoins are digital tokens designed to hold a steady value against a currency such as the US dollar. USDC and USDT are the two most widely used dollar stablecoins. Armenia's National Assembly adopted the Law on Crypto-Assets on 29 May 2025, a standalone framework that makes the CBA the regulator of crypto-asset services.
- License required. Article 17(1) prohibits offering crypto-asset services without a license except in the cases the law sets, and Article 20(8) gives the CBA two months to decide on registration and licensing. Law firm MB Legal lists the regulated services as including trading platforms, crypto-to-crypto exchange, custody and portfolio management.
- Token types. The law defines an electronic money token as a token pegged to the Armenian dram, and regulates the issuance of asset-referenced tokens, for which the CBA may require stress testing of reserve assets.
- Implementing rules. As reported by MB Legal, the CBA published its first package of rules on 21 January 2026, effective 31 January 2026, covering licensing, minimum capital, white papers and registration of foreign providers' branches, and existing businesses must obtain a license by 31 January 2027.
- Payments. MB Legal states that crypto is legal to buy, sell and hold in Armenia but is not recognized as legal tender.
| Question | What the sources say |
|---|---|
| Who regulates crypto services? | The CBA, under the Law on Crypto-Assets adopted on 29 May 2025 |
| Can a company hold USDT or USDC? | Holding crypto is legal; services to others need a CBA license |
| Is crypto legal tender? | No; the dram is legal tender |
| Deadline for existing crypto businesses | License by 31 January 2027, as reported by MB Legal |
Sources: Law of the Republic of Armenia on Crypto-Assets, official translation on ARLIS; MB Legal, 2026 guide to crypto regulation in Armenia. As published on 29 October 2026.
An Armenian company paid in USDC or USDT by a buyer abroad should document the underlying sale, convert through a licensed provider, and take advice on tax treatment. Our overview of stablecoin payment rules by country compares Armenia with other markets.
Where a Helm USD account fits
Helm is a financial technology company, not a bank. Accounts are held with regulated partner institutions. Helm provides USD account details in your company's own name, with a US routing and account number that receives ACH, Fedwire and SWIFT payments, alongside EUR and GBP details. Armenia's currency law lets residents conduct currency transactions abroad without restriction.
- IT companies, agencies and other service exporters can give US clients domestic US payment details, so a client pays by ACH as it would pay a US vendor, and hold the fees in USD or convert them.
- Importers can send international payments to suppliers by SWIFT, or by local rails in the supplier's currency where available, with the rate, fee and expected arrival shown before sending.
- Companies paid in stablecoins can receive USDC and USDT and convert them to USD inside the account.
- Local costs such as salaries, rent and taxes are paid in drams from the Armenian bank account.
Each account has a named account manager, and review questions are answered in writing within one business day. Trade finance, such as supplier finance, receivables finance and working capital, is arranged case by case. Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Can an Armenian company open a USD bank account?
Yes. Armenian banks open business accounts in drams and foreign currencies, including US dollars, in the company's own name. An Armenian company can also hold a USD account abroad, because the currency law lets residents conduct currency transactions outside Armenia without restriction.
Is there currency control in Armenia?
Armenia's regime is liberal. Article 4 of the Law on Currency Regulation and Currency Control states that no restrictions may apply to current currency transactions, while the CBA may set a procedure for capital flow and financial transactions such as cross-border loans and investments.
Can an Armenian company have a bank account abroad?
Yes. Article 4(3) of the currency law states that residents may conduct currency transactions outside Armenia without restrictions, subject to the law of the foreign country. The company's tax reporting still applies, so confirm it with your accountant.
Can an Armenian company invoice in US dollars?
Yes, for foreign clients: Article 6(7) allows prices in foreign currency in written non-cash contracts between a resident legal person or individual entrepreneur and a non-resident. Prices and payments between residents for goods and services inside Armenia must generally be in drams.
Do Armenian exporters have to repatriate dollars?
The text of Armenia's Law on Currency Regulation and Currency Control does not contain a repatriation requirement or an export proceeds deadline. Current currency transactions, including receiving export proceeds, are not restricted.
Can an Armenian business get a Wise USD account?
Not at present. Armenia is not on Wise's list of countries where businesses can hold money, and Wise gives USD account details only where you can hold money. Wise also states that USD details are available only where your address is in a country where you can open a currency account, so check eligibility for your business on Wise's own pages.
Is crypto legal in Armenia?
Yes. Armenia's National Assembly adopted the Law on Crypto-Assets on 29 May 2025, and providing crypto-asset services requires a license from the Central Bank of Armenia. Crypto is not legal tender.
When must Armenian crypto businesses be licensed?
As reported by MB Legal, the CBA's first implementing rules took effect on 31 January 2026, and existing businesses must obtain a license by 31 January 2027. The CBA decides on licensing within two months under Article 20(8) of the law.
Can an Armenian founder get a US EIN?
Yes. The IRS instructions for Form SS-4 let international applicants call 267-941-1099 to obtain an EIN, Monday to Friday from 6:00 a.m. to 11:00 p.m. Eastern Time. Applicants outside the US can also fax Form SS-4 to 304-707-9471.
References
- ARLIS: Law of the Republic of Armenia HO-135-N On Currency Regulation and Currency Control (official translation)
- ARLIS: Law of the Republic of Armenia on Crypto-Assets (official translation)
- MB Legal: Complete 2026 guide to crypto regulations in Armenia
- Wise: Can I get USD account details?
- Airwallex: Eligible countries and territories
- Mercury: Eligibility and requirements for opening a Mercury account
- Ameriabank: Tariffs for legal entities
- Internal Revenue Service: Instructions for Form SS-4
- Wise: where do I need to live to hold money with Wise
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.