We have compiled a list of ten banks in Georgia, Armenia and Azerbaijan, where foreigners can easily open a bank account.
The process of opening a personal account in Georgian banks is not complicated. You need to personally approach the bank branch in Georgia. You will not be required to have a minimum deposit to open an account, and the operating fees are quite low. That is why many foreigners prefer local financial institutions.
There are dozens of institutions in the country, but expats mention a few of them on forums.
This is one of the largest commercial banks in Georgia. It has over 100 branches. Bank of Georgia is the most popular among those who need SWIFT transfers and supports Apple Pay.
To open an account, you need: a passport, a KYC questionnaire, documents confirming income, confirmation of the address of residence in Georgia, a receipt for payment of the registration fee for processing the application. The procedure usually takes 3-5 days.
One of the leading banks in Georgia. In TBC Bank, non-residents can open a multi-currency account for daily banking operations. With it, they can make unlimited transfers in different currencies around the world, as well as withdraw cash, exchange currencies, pay for goods and services, and use the funds in the account at any time.
The bank is distinguished by higher prices for tariffs. To open an account you will need: an application form, a passport, a local SIM card, proof of income.
Today Liberty Bank is the largest private bank in Georgia.
This is a small bank where expats can open an account. Credo Bank offers three types of cards: universal, debit and nameless Mastercard.
In the leading banks of the country, foreign citizens with a residence permit open an account in any branch of the bank. The relevant document must be obtained from the State Migration Service. However, according to the regulation of the Central Bank of Azerbaijan, non-residents without a residence permit in the territory of Azerbaijan are not allowed to open a bank account and provide a card in the banks of the country.
Universal Bank offers a range of modern products and services of international level. The official opening of VTB Azərbaycan Bank took place on November 23, 2009.
This is a commercial bank founded in 1874 as the Azerbaijan Savings Bank. Kapital Bank is headquartered in Baku and has over 10 branches and 20 outlets across the country.
Non-residents do not face special difficulties while opening an account in local banks. The standard package of documents both for individuals and for opening an account of an organization includes: a foreign passport, a personal income tax certificate-2, an Armenian SIM card, a rental agreement. Depending on the requirements of banks, different documents may be required.
If you want to submit the service online, you should contact the bank of your choice directly.
The bank focuses on high quality customer service, innovation, new approaches and digitalization. Their main goal is to become the best innovative financial institution in Armenia and the number 1 client choice. But it should be borne in mind that the bank is one of the most expensive in the country in terms of fees for transfers and account maintenance.
To open an account, you will not be required to have a residence permit or rent an apartment for six months.
This is a dynamically developing bank that offers various services to individuals and legal entities. The Bank is guided by the following corporate values: responsibility for the social and environment, reputation of the bank, professionalism, innovation.
The bank was founded in 2002. It has more than 60 branches in the Republic and one representative office in Paris.
To open an account you will need: a passport or a foreign passport, a lease agreement. The card supports Apple Pay and the rejection rate is low.
InecoBank offers a full range of banking services, including digital banking solutions for individuals, small and medium businesses and corporate clients.
The bank was founded on February 7, 1996, and since 1998 has been cooperating with more than 30 high-ranking international financial institutions.