For those who consider or have a bank account in Georgia

[Mark Rucken]

Crypto is the only place to stay safe

Crypto is so 2019.

 

[Obelix]

As link i paste say, easy online at least in Ameriabank, only ask for a transfer from another bank account, and papers......
as im thinking in send another bill not from my countrie, i need see how ill do it

 

[Luganese]

Crypto is so 2019.

Whats for 2020? Toilet Paper ?

 

[avalanche]

Armenia is open to everything that can flow through its banks.
Cryptocurrencies are not regulated and there are no restriction on such transactions.
The country, following Georgia lead, proactively push to become a crypto hub.
In 2018, Gagik Tsarukyan, founder of Tsarukyan Alliance, the second biggest party in Armenia, opened one of the biggest mining farm in the world Omnia Tech.
The cerimony was led by PM, Nikol Pashinyan.

I thought central bank of armenia is against it no?

 

[avalanche]

Looks nice, as Georgia its the end with new CRS
Do you know how many $ guarantee on account? i mean in case problems with bank how many $ guarantee?
In EU its 100k example, Georgia its so so low

$4k

 

[Benzouser]

So if open a account in Armenia and and cash in 10k € monthly ... will they start to ask where the orgin of the money came from? . .or any other issues . . .

 

[JohnLocke]

$4k

are you serious?

 

[Granwasa]

@Benzouser with cash in you mean deposit cash?
If that is the case, no they won't ask you questions.

@Admin yes, the statement is true.
Deposit Guarantee Fund of Armenia, a Gov NGO, covers deposits up to 10mln DRAM if deposited in local currency. Otherwise, any foreign currency is insured up to 5mln DRAM
Link 1, Link 2.

Granwasa

 

[avalanche]

are you serious?

TBC bank made an announcement in their mobile app with something like "Now our deposits are insured by Georgian government for X GEL" which is around $4k lol

 

[Obelix]

Basically bank ask for passport and bill for show address to open an account,correct?
means in case send info to country will send it to bill of address?
cause im thinking in open new account with my passport and a bill from another country (not mine)
good idea?

 

[Granwasa]

@Obelix you're correct, your line of thoughts would work.
Banks in Armenia will simply ask for Passport and your residence.
It can happen that neither an utility bill has to be shown, only your word for your residence may be accepted.

In general, banks do not investigate whatever you live or not, in the country reported by your utility bill.
Neither if the utility bill is original.
This is one of the last methods to avoid CRS, globally and in EU.

 

[Obelix]

thx , ip and sim from country will do too to do it better

 

[Obelix]

Ill try Armenia then when have bill and sim
But my Georgia account its under my real address, as Armenia ask for a transfer from another bank to active the account, and ill do it from Georgia (they will see diferent address?) if this happen ill need change in Georgia too first, but im afraid change can block account, as banks are so stupids now.

 

[JohnLocke]

TBC bank made an announcement in their mobile app with something like "Now our deposits are insured by Georgian government for X GEL" which is around $4k lol

That's simply a joke, it is something but nothing at the same time, useless. Anyway, this may be the last stop for people looking for a bank account for that reason this may be a good alternative to the majority of global banks.

 

[avalanche]

Ill try Armenia then when have bill and sim
But my Georgia account its under my real address, as Armenia ask for a transfer from another bank to active the account, and ill do it from Georgia (they will see diferent address?) if this happen ill need change in Georgia too first, but im afraid change can block account, as banks are so stupids now.

They dont give a s**t from my experience

 

[avalanche]

That's simply a joke, it is something but nothing at the same time, useless. Anyway, this may be the last stop for people looking for a bank account for that reason this may be a good alternative to the majority of global banks.

They have Apple Pay and transfers in/out with crypto exchanges with no questions asked. Thats really useful

 

[Obelix]

They dont give a s**t from my experience

Waiting my bills from the other country, and ill try to open in armenia, thx

 

[Benzouser]

@Benzouser with cash in you mean deposit cash?
If that is the case, no they won't ask you questions.

@Admin yes, the statement is true.
Deposit Guarantee Fund of Armenia, a Gov NGO, covers deposits up to 10mln DRAM if deposited in local currency. Otherwise, any foreign currency is insured up to 5mln DRAM
Link 1, Link 2.

Granwasa

If people send my about 10k EUR/USD monthly to my Armenia bank account by Wire . . . if the bank start to ask questions where the money coming from etc.

 

[avalanche]

If people send my about 10k EUR/USD monthly to my Armenia bank account by Wire . . . if the bank start to ask questions where the money coming from etc.

Depends on the bank, what country people are sending money from, what did they put in transfer details and how you built the relationships with the manager. You definitely need to explain them where this money is coming from. Don't deal with Ameriabank in that case, find a smaller one. But your case would look like money laundering for sure.

But unless you are registered as Individual entrepreneur in Armenia, your activity would look like illegal entrepreneurship

 

[Txaxandlxaxwxyxexr]

Crypto is the only place to stay safe

Hi. Thanks. Do you know any exchange that is for sure not under crs rules? Which ones?