General terms 

- General terms and conditions of the escrow account (hereinafter referred to as the “Account”). 
- Account Holder (Deponent) – a resident or non-resident legal entity or individual entrepreneur purchasing real or movable property, including a vehicle or securities, within the territory of the Republic of Armenia, or using certain services or benefiting from the performance of works. 
- Beneficiary – a resident or non-resident person selling real or movable property, including a vehicle or securities, within the territory of the Republic of Armenia, providing certain services, or performing works. 
- Account currency: Armenian dram (AMD). 
- Account term: The account is closed upon completion of the transaction. 

One-time account opening fee for transactions involving movable property

Account closure

Maintenance and servicing of an account with no transactions performed during one year

One-time account opening fee for real estate transactions

Possible transactions through the account

- The Escrow Account is a special bank account opened in the name of the Depositor in AMD, the purpose of which is the guaranteed implementation of transactions involving the purchase and sale of immovable or movable property, including vehicles, securities, provision of services, and performance of non-deliverable services. 
- Funds directed to the special account are credited on the same banking day if the documents on the transfer of funds are submitted to the Bank during the operating hours established by the Bank for the performance of a given type of operation, and if they are submitted outside these hours, then on the next banking day. 
- Payment or transfer of funds from the special account is made on the day of submission of the payment order, if the payment order by the Depositor is submitted to the Bank during the operating hours established by the Bank for the performance of a given type of operation, and if the payment order is submitted outside these hours, then on the banking day following the submission of the payment order. 
- A shorter period for payment or transfer or crediting of funds from the account by a payment order is set at the discretion of the Bank. 
- Intrabank transfers are credited to the Account on the same banking day, except for technical problems or other cases stipulated by the RA legislation. 
- In case the transaction envisaged in the Escrow Account is not completed within the period specified in the agreement concluded between the Depositor and the Beneficiary or the original documents confirming the transaction are not submitted to the Bank, the amount frozen in the Escrow Account is transferred to the account number specified in the Depositor's Escrow Application-Agreement. 
- After the amount available in the Escrow Account is provided to the Depositor or Beneficiary, the Escrow Account opened in the name of the Depositor is closed. 
- The Escrow Account Agreement may be terminated early only if there is a written consent of the Depositor and the Beneficiary, or if the relevant agreement concluded between the Depositor and the Beneficiary has been terminated, and no less than 10 days have passed since the termination of that agreement, but no more than the period for the withdrawal of all funds in the Escrow Account.

To open an account and carry out operations, the Depositor submits the following documents to the Bank

**List of Documents Required for Opening a Bank Account or an Unallocated Metal Account for Resident Legal Entities**

1.	Charter including all amendments and supplements thereto. 
2.	Extract from the State Unified Register, issued by the Legal Entities State Register Agency of the Ministry of Justice of the Republic of Armenia. 
3.	For Joint-Stock Companies – a list of securities owners (nominee holders) or an extract from the shareholders’ register, issued by a specialized organization maintaining the register of registered securities owners (nominee holders). 
4.	Identification document of the head of the executive body or the acting head, and the social security card number, or a note confirming refusal to obtain a social security card (a social security card is not required if an ID card is presented). 
5.	For individuals owning 10% or more of the shares, participatory interests, or units in the customer's charter capital – identification documents. 
6.	For legal entities owning 10% or more of the shares, participatory interests, or units in the customer's charter capital – the documents specified in items 1, 2, 3, and 4 of this list. 
7.	In the case of an authorized representative – a power of attorney. 
8.	Account Opening Application and Agreement. 
9.	Specimen Signature and Seal Impression Card (if a seal is available). 
10.	Copies of identification documents of the persons authorized to sign as first- and second-category signatories, as indicated in the specimen signature card.

Copies of all documents shall be submitted with the mark “True to the original”, signed by the executive body of the legal entity or its acting temporary representative, and certified with the Deponent’s seal (at the Deponent’s discretion), except for original powers of attorney submitted by an authorized person.
If necessary, other documents specified by the “Procedure for Combating Money Laundering and Terrorist Financing of AMIO BANK CJSC” may also be required.                                                                                                                         

Notice

Resident

 **List of documents for opening a bank account or an unallocated precious metals account for non-resident legal entities.**
 
 1.	Constituent documents of the Client (Articles of Association with all amendments and supplements thereto; founding agreement or any equivalent document in accordance with the legislation of the country of registration). 
2.	Certificate issued by a competent state authority, or any equivalent document confirming the fact that the Client’s director or the person replacing them is registered. 
3.	Certificate issued by a competent state authority, or any equivalent document confirming the Client’s registration and providing information on the legal entity’s registered address/location. 
4.	Certificate issued by a competent state authority, or any equivalent document confirming the Client’s registration with the tax authority (if applicable). 
5.	Certificate issued by a competent state authority, or any equivalent document confirming the amount of the Client’s charter capital and information on registered owners. 
6.	Certificate issued by a competent state authority, or any equivalent document confirming the registered ownership rights of shareholders/participants/unit holders over shares, participations, or units. 
7.	License, in case of licensed activity. 
8.	Decision of the Client’s authorized body, or an extract from such decision, regarding the appointment of the director or the person replacing them. 
9.	Power of attorney or equivalent document confirming the list of persons authorized to act on behalf of the Client and the scope of operations they are entitled to perform on behalf of the Client in relation to the bank account. 
10.	Specimen signature card and seal (if applicable). 
11.	Identity documents of persons having first and second signing authority in the specimen signature card. 
12.	Account opening application-agreement. 
13.	Identity documents of individual persons who are owners (shareholders, participants, unit holders) of the Client’s charter capital. 
14.	For legal entity owners (shareholders, participants, unit holders) of the Client’s charter capital: documents specified in items 1, 2, 3, 4, 5, 6, 7, 8, 13, and 14 of this list. 
15.	Economic or other lawful justification for using the Armenian financial system, e.g.: 
•	Business interests in Armenia (e.g. market diversification, expansion and localization, joint ventures and partnerships, foreign investments, etc.). 
•	Portfolio diversification (e.g. risk management through investment allocation, etc.). 
16.	Supporting documents for the provided justifications.

Copies of all documents shall be submitted with consular and/or notarial certification, legalized by apostille (unless another procedure is stipulated by international agreements of the Republic of Armenia), and translated into Armenian (translation into Armenian is not required for documents submitted in English and Russian).
If necessary, other documents specified by the “Procedure for Combating Money Laundering and Terrorist Financing” of “AMIO BANK” CJSC may also be required.

Non-resident 

**List of documents required for opening a bank account, an unallocated metal account for an individual entrepreneur, or a bank account for a notary**

1.	Identity document. 
2.	Social card or Public Services Number, or certificate confirming the absence thereof (not required when presenting an identification card). 
3.	Extract from the state unified register of legal entities issued by the Ministry of Justice of the Republic of Armenia (for individual entrepreneurs). 
4.	Power of attorney in case of authorized persons. 
5.	Account opening application-agreement. 
6.	Signature specimen and seal (if available) card. 
7.	Identity documents of persons authorized with first and second signing rights in the signature specimen.


Copies of all documents shall be submitted with consular a certification, legalized by apostille (unless another procedure is stipulated by international agreements of the Republic of Armenia), and translated into Armenian (translation into Armenian is not required for documents submitted in English and Russian).
If necessary, other documents specified by the “Procedure for Combating Money Laundering and Terrorist Financing”of “AMIO BANK” CJSC may also be required.


Individual entrepreneurs

Other Terms and Restrictions

- No interest is accrued on the balance of the Escrow Account. 
- No mutual claims between the Depositor and the Bank may be set off against the Escrow Funds. 
- No banking operations other than those specified in the Escrow Account Agreement may be performed. 
- Escrow Account funds may not be pledged, frozen (put under arrest), seized against the Depositor's obligations or used as a liquidation measure for the fulfillment of obligations in the event of the Depositor's bankruptcy. 
- The Depositor is obliged to comply with the provisions of the RA legislation and the Account Agreement. 
- The Bank has the right to refuse to open a Depositor's Account if: 
- The Depositor has not submitted to the Bank the documents required by the RA legislation and the Bank's internal legal acts for opening an Account, including the identification data provided to the Bank are not sufficient to identify the Depositor within the framework of the norms and requirements established by the legislation (including the US law "On Taxation of Foreign Accounts"), 
- The Depositor has submitted unreliable information, 
- The Account Holder does not pay the fees stipulated in the Tariffs for opening an Account (if any), • There is information about the Depositor's involvement in money laundering, terrorist activities, terrorist financing in accordance with the RA Law "On Combating Money Laundering and Financing of Terrorism" and the Bank's internal legal acts, 
- The Bank has reasonable suspicions of the Depositor's involvement in illegal/fraudulent activities and the Depositor has not submitted sufficient evidence/documents to that effect To exclude doubts, 
- The Bank has decisions of state authorities and/or other bodies preventing the opening of the Account. 
- In other cases specified by the legislation of the Republic of Armenia.
- During the opening, maintenance and/or termination of an account, based on the customer due diligence requirement set forth in the RA Law “On Combating Money Laundering and Financing of Terrorism”, the “Know your customer” principle, the need to determine the fact that the Depositor is a US taxpayer in accordance with the agreement signed with the US based on the “Foreign Account Tax Compliance Act (FATCA)”, as well as taking into account other various circumstances, the Bank may request additional documents and information from the Depositor. 
- In accordance with the requirements of the RA Tax Code and the “Common Reporting Standard for Automatic Exchange of Financial Account Information” (CRS), the Bank may collect and transfer certain information on the accounts and tax residency of non-resident customers to the RA State Revenue Committee. In case of failure to provide the required information to the Bank, the Bank will be forced to refuse (suspend) transactions with the Depositor's financial accounts in accordance with the requirements of the Tax Code of the Republic of Armenia, with the exception of transactions involving the transfer of funds belonging to the Depositor to an account opened in the name of the Depositor in another financial institution or the provision of funds to the Depositor in person. 
- The Bank has the right to unilaterally change the Tariffs for the Depositor's settlement and cash service and the tariffs related to the maintenance of the Account and the conduct of operations therewith, by establishing, changing and/or eliminating new rates of Commission fees, bonuses and/or by providing new types of services provided by the Bank related to the maintenance and maintenance of the Account, including the conduct of operations with the Account, by notifying the Depositor no later than 5 (five) days before the entry into force of such changes. **THE ACCOUNTANT HAS THE RIGHT TO BE COMMUNICATED WITH THE BANK IN THE WAY OF HIS PREFERENCE: BY POSTAL OR ELECTRONIC. RECEIVING INFORMATION ELECTRONIC IS THE MOST CONVENIENT. IT IS AVAILABLE 24/7, FREE FROM THE RISK OF LOSS OF PAPER INFORMATION AND ENSURES CONFIDENTIALITY.**
- In case of changes in the Depositor's company name or name, reorganization, legal address, location, places of residence or registration, seal (at the Depositor's request), composition of persons authorized to carry out operations on the Account, as well as changes in other personal data provided by the Account Holder, the Depositor is obliged to inform the Bank within 5 (five) business days in order to implement the necessary changes, moreover, the Depositor is responsible for the consequences of not informing the Bank about the relevant changes within the above-mentioned period. The Bank, being the Depositor's tax agent, makes deductions in accordance with the tax legislation of the Republic of Armenia.

**Dispute Resolution Procedure and Protection of the Deponent’s Rights**

**Any disputes and disagreements arising between the parties during the term of the account agreement shall be settled through negotiations between the parties, and in the event that no agreement is reached, in accordance with the procedure established by the legislation of the Republic of Armenia.**


Tariffs for the provision of statements and references

**The Bank provides the Deponent with account statements in accordance with the procedure and frequency established by the legislation of the Republic of Armenia and the agreement concluded with the Deponent.**

Provision of an account statement, other payment document, or a document related to transactions performed without an account after each transaction.

Provision of an account statement or other document (certificate), including VAT, via e-mail or other means of communication.

•	Within the territory of the Republic of Armenia

•	Outside the territory of the Republic of Armenia

Provision of a duplicate copy of an account statement (including a loan account statement), other payment document, or a document related to transactions performed without an account, depending on the transaction date (including VAT):

• For a period with a transaction history of up to 1 year

• For a period with a transaction history from 1 to 3 years

• For a period with a transaction history from 3 to 5 years

Provision of information on the account, account balance, transactions made with or without an account at the Bank's premises, via e-mail, internet/mobile banking system (including VAT):

•	In Armenian 

•	In Russian or English

Provision by mail of certificates/information regarding the account, transactions performed through the account or without an account (including VAT).

Provision of a bank account certificate and a copy of the SWIFT message (including VAT).

Preparation and provision of answers (information) to accounting (audit) inquiries (including VAT) This tariff does not apply to current accounts opened for servicing correspondent, securities service depot, credit, card and deposit accounts.

Tariff for Issuing Statements and Certificates

Declaration

**The Deponent’s rights to manage the account and the funds held therein may be restricted by a court decision based on an application submitted by the bodies responsible for the compulsory enforcement of judicial acts or by tax authorities.  The seizure of funds from the account without the Deponent’s instruction may be carried out based on a court decision upon an application submitted by the bodies responsible for the compulsory enforcement of judicial acts or by tax authorities.**


Information Bulletin

A special bank account designed to ensure the secure and guaranteed execution of transactions related to the purchase and sale of property and the provision of services. 

Escrow accounts

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© 2026 "AMIO BANK" CJSC
License of the Central Bank of Armenia #40 issued on 10.12.1991
AMIO BANK is the legal successor of ARMBUSINESSBANK.

General terms

Possible transactions through the account

To open an account and carry out operations, the Depositor submits the following documents to the Bank 3 Tabs

Other Terms and Restrictions

Tariffs for the provision of statements and references

Declaration

Information Bulletin