New Regulations Introduced for Transferring Money Out of Armenia

New regulations for the circulation of money and securities have come into effect today in the EAEU territory, imposing certain restrictions on the transfer of funds across borders. The regulations also pertain to the withdrawal of money from Armenia.

According to the new rules, individuals will be required to submit documentation when withdrawing more than $100,000 from the customs territory of the Union. The authors of the regulations state that this measure aims to prevent potential cases of terrorism financing and money laundering.

In such cases, those transferring funds will need to provide documentation to prove the origin of the money. This may include cashing documents, donation agreements, and other papers that demonstrate that the money owner acquired the funds legally.