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Business Opportunities in Armenia 2021  

Business Opportunities in Armenia 2021 

Foreign business owners and investors appreciate the pace of the economic reforms, Armenia's safety, freedom and openness. There are generally no restrictions on foreign ownership of companies, real property and other assets. Armenia guarantees free repatriation of invested capital and profit. Investment projects are encouraged with tax benefits and government assistance programs. 


Zero-tax status is available to micro-businesses, IT start-ups, companies operating in free economic zones, industrial zones, certain border towns and villages. Other small businesses with annual sales of less than around $220,000 are subject to sales (turnover) tax of only 1.5-5%. Armenia generally does not tax capital gains on the sale of securities, real estate or other assets. Insurance and pension payment are also exempt from taxes. There are no taxes on gifts, inheritance, net worth, etc. Property taxes are very low. 


Investing in Armenia can qualify you and your family members for a residence status (temporary, permanent, or special). Under general naturalization rules, a foreigner may become eligible for Armenian citizenship after three years of residency. 

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2021.01.26 Investment
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Bank Deposits

Rates as of Feb. 2021

Bank

Armenian Dram (1-3 Years)

US Dollar (1-3 Years)

ACBA

7.5%-9%

3.25%-4%

Ameriabank

7.7%-8.6%

2.7%-3.5%

Araratbank

8%

3.5%

Ardshinbank

8.25%-9%

3.25%-4.5%

Armbusinessbank

9.5%-10.75%

3.55%-4.65%

Armeconombank

9.25%-9.5%

4.3%-4.5%

Armswissbank

6.5%-7.75%

4%-4.75%

Artsakhbank

9.5%-10%

3.75%-5.25%

Byblos Bank Armenia

9%-9.25%

4%-4.25%

Converse Bank

8%-8.25%

3.75%-4%

Evocabank

8%-10.75%

3%-5.75%

HSBC Armenia

7%-7.5%

1.5%

ID Bank

8.25%-9.5%

3.5%-4.5%

Inecobank

8.9%-9.15%

3.65%

Unibank

9.5%-10.25%

3.25%-4.5%

VTB

10%

1.75%-2.15%

Small Business Opportunities

1. Agriculture

  • Beekeeping & honey production
  • Greenhouse (flowers, vegetables, berries, herbs, lemons, etc.)
  • Dried fruits (apricots, prunes, peaches, etc.)
  • Winemaking
  • Vegetables (celery, asparagus, broccoli, etc.)
  • Poultry farming & hatchery operation
  • Berries (strawberry, blackberry, raspberry, etc.)
  • Cattle farming 
  • Sheep & goat farming
  • Pig farming
  • Fish farming (crawfish, caviar, etc.)
  • Herb growing (herbal teas, spices, medicinal herbs, stevia)
  • Dried herbs and medicinal herbs
  • Wild harvest
  • Paulownia tree farming
  • Crops (buckwheat, emmer wheat, etc.)
  • Corn farming
  • Cotton farming
  • Mushroom farming, harvesting
  • Snail farming
  • Horse breeding

2. Food Processing

  • Cold storage for fruits and vegetables
  • Slaughterhouse
  • Fish processing
  • Cheese making, milk processing
  • Meat processing
  • Canning, packaging, freezing, etc.
  • Juice
  • Compote, jam, syrup, concentrate, pickles
  • Mushroom processing
  • Vodka (grape, apricot, apple, plum, etc.)
  • Brandy, fruit & herbal wine, tinctures
  • Pasta manufacturing
  • Processing of wild harvest (canned fruits, berries, herbs)
  • Flour milling
  • Oil production (olive, linseed, grape seed, etc.)
  • Livestock feed manufacturing
  • Organic fertilizer production
  • Leasing of farm equipment

3. Travel & Tourism

  • Guest house, bed & breakfast
  • Camping & glamping
  • Wooden, light-structure, treehouse cottages
  • Rest area (shelter, food, WC, market, souvenir shop, etc.)
  • Co-living space
  • Workation space
  • Rental of recreational vehicles
  • Travel agency
  • Souvenir shop
  • Gastronomy & wine tourism
  • Restaurants (café, pavilion, gastro-yard, etc.)
  • Craft tourism
  • Archeological tourism
  • Adventure tourism 
  • Hiking trails & tours
  • Horseback riding
  • Mountain climbing
  • Cave tourism
  • Off-road tours
  • Rental of all-terrain vehicles
  • Bicycle rental station
  • Mountain bike trails & tours
  • Fishing 
  • Eco-village 
  • Birdwatching 
  • Winter tourism (ski lodges, ski equipment rental)
  • Rental of snowmobiles
  • Recreational & athletic facilities
  • Amusement park
  • Skating rink
  • Zip line
  • Ropeway

4. Automotive

  • Gas station
  • Auto parts
  • Auto pawnshop
  • Car wash
  • Car service station
  • Carsharing
  • Help with buying used cars

5. Children's Products and Services

  • Children's center
  • Play rooms and playgrounds
  • Kindergartens
  • Goods for kids
  • Children's clothing
  • Mental math
  • Toys and games for children
  • Children's' hairdressing saloons

6. Food

  • Café
  • Restaurant
  • Fast food outlet
  • Bar
  • Coffeehouse
  • Coffee to go
  • Beer house
  • Sushi, rolls
  • Canteen
  • Hookah bars
  • Children's café
  • Burgers
  • Pizzerias
  • Pancakes & waffles
  • Ice cream
  • Shawarma

7. Education

  • Courses
  • English language schools
  • Schools & training centers
  • Schools of programming and robotics
  • Language schools and centers
  • Football schools

8. Manufacturing

  • Bakery
  • Food production
  • Building materials production

9. Trade

  • Car accessories
  • Liquor stores
  • Pharmacies
  • Vape shops, hookahs
  • Vending machines
  • Healthy food
  • Pet shops
  • Stationery
  • Confectionery
  • Cosmetics and perfumery
  • Furniture
  • Butcher shops
  • Underwear
  • Equipment and tools
  • Shoes
  • Clothing
  • Optics
  • Gifts
  • Food
  • Fish
  • Sweets
  • Building materials
  • Bags and suitcases
  • Phones & gadgets
  • Household goods
  • Health and beauty products
  • Dropshipping 
  • Flowers and plants
  • Jewelry

10. Services

  • Rentals and hire
  • Apartment rentals
  • Car rentals
  • ATV & snowmobile rentals
  • Bicycle and scooter rental
  • Manpower supply
  • Food delivery
  • Call center
  • Cleaning services
  • Courier delivery services
  • Shipping and cargo services
  • Nursing homes
  • Advertisement/marketing agency
  • Phone repair service centers
  • Construction and renovation
  • Taxi, cargo transportation
  • Shooting range
  • Pet grooming
  • Photo studios
  • Dry cleaners, laundries
  • Certification centers
  • Security & surveillance
  • Coworking spaces

11. Health & Beauty

  • Epilation and sugaring
  • Fitness clubs
  • Athletic clubs
  • Dentistry
  • Beauty salons
  • Hairdressing salons
  • Eyelash extensions
  • Medical laboratories
  • Medical centers
  • Manicure, pedicure
  • Massage parlors
  • Barbershops
  • Grooming salons
  • Fitness/yoga studios

12. Online & Home-Based Businesses

  • Online stores
  • Digital & social media marketing

13. Entertainment

  • Quests
  • Bookmakers
  • Pools, water parks
  • Virtual reality
  • Computer/cybersport clubs

14. Finances

  • Insurance brokers
  • Pawnshops
  • Credit brokers
  • Cryptocurrencies & mining

15. Professional Services

  • Legal services
  • Real estate
  • Migration center
  • Consulting
  • Bankruptcy
  • Accounting services
  • Visa application centers

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Copyright 2021 - Vardanyan & Partners LLC

Nerses Isajanyan

Managing Attorney
LL.M. Georgetown University
New York Bar | Armenian Chamber of Advocates

We are a team of licensed lawyers based in Armenia and Georgia. Our primary commitment is to provide quality service to clients at a compelling value that helps manage risk, overcome regulatory issues and advance their personal and business goals. 


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Nerses Isajanyan

Attorney

LL.M. Georgetown University

New York Bar | Armenia Chamber of Advocates

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