In short: Suits non-residents who already have a link to Armenia (property, sole proprietorship, a stake in a company or a deposit) and those who need a UnionPay card. A Russian without such a link should check remote service with the bank.
Terms for non-residents
- Non-residents
- Limited
- Remote account opening
- Yes
- Visa / Mastercard
- Yes
- Russian-language support
- No / not stated
- Owner
- Maresta Gevorgyan: 100% of shares; no indirect significant shareholders
- Founded
- Has operated as Evocabank since 2017
- Opening an account for a non-resident individual
- AMD 50,000
- Annual maintenance for a non-resident individual account
- AMD 250,000; closing the account AMD 0
- Account currencies
- USD, EUR, RUB, AED, GBP, CHF, CNY, CAD
- Non-resident company account
- Opening AMD 100,000, annual maintenance AMD 500,000
- App
- EvocaTOUCH; the website is in Armenian, Russian and English
Pros
- A dedicated page and procedure for remote service of non-residents
- UnionPay Gold and Arca-UnionPay cards for trips to China and other UnionPay countries
- Digital Visa for AMD 1,000 a year with Apple Pay and Google Pay
- Accounts in eight currencies, including rubles and UAE dirhams
Cons and limits
- Remote service is not open to everyone: a link to Armenia is required (property, sole proprietorship, a stake in a company or a deposit)
- Maintaining a non-resident account is expensive: AMD 250,000 a year
- Activating the account requires a transfer of at least $50
- The bank does not state support for Mir
## About the bank
The bank has operated as Evocabank since 2017 and calls itself Armenia's first digital bank. The sole shareholder is Maresta Gevorgyan, who holds 100% of the shares, and there are no indirect significant shareholders. The head office is at 44/2 Hanrapetutyan Avenue in Yerevan.
## Account for non-residents
Evocabank has a separate page on remote service for non-residents, updated on 1 October 2026. The procedure is not meant for every foreigner, though. Remote service is available to non-residents who:
- own property in Armenia (certificate of title registration);
- or are ready to place a deposit with the bank for up to 6 months of up to $20,000, EUR 20,000, RUB 1,500,000 or AMD 10,000,000;
- or are registered as a sole proprietor in Armenia;
- or hold a stake in an Armenian legal entity.
An individual sends a passport, a foreign passport and a document confirming the source of income: last year's tax return or a sale or lease agreement for property, shares or securities. The documents are emailed to the bank, followed by identification over a video call. After approval, at least $50 is transferred to the new account.
The cost is high: opening an individual account costs AMD 50,000, annual maintenance AMD 250,000, and closing is free. For legal entities, opening costs AMD 100,000 and maintenance AMD 500,000. The account can be held in USD, EUR, RUB, AED, GBP, CHF, CNY and CAD.
## Cards and payments
The bank issues UnionPay, Visa and local Arca cards.
| Card | Cost | Notes |
|---|---|---|
| UnionPay Gold | AMD 15,000 a year | 5-year validity, 0.5% cash withdrawal fee; AMD, USD, EUR |
| Visa Digital | AMD 1,000 a year | Activation in minutes, Apple Pay and Google Pay |
| Arca-UnionPay | Not stated | Combined ArCa and UnionPay card |
The bank does not state that it services Mir or is connected to the SBP. Mir cards are accepted by VTB (Armenia).
## Tariffs and limits
The main limitation is access. If you are coming to Armenia for the first time and have no property, sole proprietorship or company stake, you will have to choose the deposit route. Russians without such a link may find it easier to start with Ameriabank. The bank states the deposit amount as "up to", so confirm the exact terms with the bank.
## Who it suits
- Property owners in Armenia, sole proprietors and participants in Armenian companies.
- Those who need a UnionPay card for trips to China.
- Non-residents who need a multi-currency account that includes rubles and dirhams.
It does not suit those looking for the cheapest maintenance: AMD 250,000 a year for a non-resident individual account costs more than at most banks.
Frequently asked questions
Can a Russian citizen open an account at Evocabank remotely?
Yes, if they have a link to Armenia: property, a sole proprietorship, a stake in an Armenian legal entity or a deposit with the bank for up to 6 months. The bank ties remote service to exactly these grounds, so a Russian without them should check with the bank first.
How much does an account for a non-resident individual cost?
Opening costs AMD 50,000, annual maintenance AMD 250,000 and closing AMD 0. The bank's tariff page was updated on 1 October 2026.
Which UnionPay card does the bank issue?
UnionPay Gold costs AMD 15,000 a year, is valid for five years and has a 0.5% cash withdrawal fee. It can be ordered in EvocaTOUCH or on the website, with free delivery. There is also Arca-UnionPay.
What deposit is needed to meet the conditions?
The bank names a deposit for up to 6 months of up to $20,000, EUR 20,000, RUB 1,500,000 or AMD 10,000,000.
Can a non-resident company open an account?
Yes. Opening costs AMD 100,000 and annual maintenance AMD 500,000.
Does Mir work at Evocabank?
The bank does not state this. Only VTB (Armenia) is confirmed to accept Mir.