Armenia is located between Asia and Europe and occupies a land area of 29,800 sq km, with a population estimated to be around 3 million. The country is bordered by Turkey to the west, Georgia to the north, Azerbaijan to the east, and Iran to the south.
According to international rankings, Armenia is a relatively easy country where one could invest and establish a business. The World Bank study Doing Business 2014 ranked Armenia as the 37 easiest country with which to do business, out of the 189 surveyed. Furthermore, Armenia’s economic freedom ranks 41 among 178 countries, as stated within the 2014 Index of Economic Freedom.
Armenia is a member of the World Trade Organization, United Nations, Council of Europe, Commonwealth of Independent States, and other international organizations promoting economic cooperation. As of 2014, negotiations have panned out with the expectation of joining the Eurasian Economic Union comprised of Russia, Kazakhstan, and Belarus on January 1, 2015, a single economic market of 170 million people and a GDP of 2.7 trillion dollars.
Armenia has a continental climate with dry, sunny summers and cold, snowy winters. The country has a well-developed road and transportation network, alongside telephone, internet, and postal services. The international airport is located 12km away from the center of Yerevan. In terms of security, the country’s crime rate is quite low. There are both public and private schools, while the populace has an official literacy rate of 99.6%. Russian is the most popular foreign language at present, with English flanking at its heels. The capital city of Yerevan is home to over 1.1 million of the country’s population, with a wide array of choices in dining, entertainment and shopping. Malls cater to the populace with both local and international brands.
The banking system is well-regulated. There are strict bank secrecy laws which make it a crime to disclose information on bank accounts. HSBC Bank Armenia, as well as 20 other local and international banks offer a wide range of banking services that pay up to 8-9% in annual interest for deposits in US dollars.