Building a Bright Future: How Business Setup in Armenia Can Lead to Residency

Armenia, with its strategic location, favorable business environment, and abundant opportunities, offers a promising platform for growth and success. In this article, we will explore the benefits of starting a business in Armenia and how it can lead to residency.

Benefits of Starting a Business in Armenia

Armenia provides numerous advantages for entrepreneurs who choose to establish their businesses in the country. One key advantage is its strategic location, acting as a bridge between Europe and Asia. This advantageous position opens up vast market opportunities for businesses, both locally and internationally. Additionally, Armenia's membership in the Eurasian Economic Union (EAEU) provides significant benefits. Firstly, Armenia gains access to a larger market comprising over 180 million consumers across EAEU member states. The elimination of customs duties and trade barriers within the union facilitates the flow of goods and services, making it easier for Armenian companies to trade with other member states.

Furthermore, Armenia offers a favorable business environment characterized by low tax rates and simplified regulations. In particular, businesses operating in sectors such as IT and high-tech industries enjoy additional tax benefits, including exemptions from profit tax and reduced personal income tax for employees. These incentives make Armenia an appealing destination for businesses in innovative and technology-driven fields.

Business Registration Process in Armenia

The process of registering a business in Armenia is straightforward and efficient. Entrepreneurs begin by selecting the legal form of their business, typically choosing between a limited liability company (LLC) and private entrepreneurship (PE). PE is not a legal entity but an individual who registers as a business and obtains a tax ID. PE may offer advantages over LLC due to the absence of dividend tax and lower costs for accounting and tax compliance services. However, many opt for an LLC as it provides limited liability, safeguarding personal assets from creditors. In the case of PE, liability is not limited by the assets invested, and the individual is personally responsible for any liabilities arising from business activities.

Once the legal form is chosen, entrepreneurs need to register their business with the State Register of Legal Entities. This involves submitting required documents, such as the company's charter, articles of association (either prepared independently or using the sample provided by the State Registry of Legal Entities), proof of address, and notarized translations of shareholder passports. The registration process typically takes 1-2 business days, after which the business is officially recognized and can commence operations.

Requirements for Obtaining Residency through Business Setup

One unique advantage of starting a business in Armenia is the opportunity to obtain residency through business setup. While the law does not specify a particular type of business that makes one eligible for residency application in Armenia, it emphasizes the importance of an active company with clients/suppliers and a track record of tax payment, increasing the chances of residency application approval.

Conclusion

Entrepreneurs seeking a promising destination to establish their business and secure residency should consider Armenia. Explore the opportunities, benefits, and support systems available in this vibrant country. Embark on your journey towards a bright future by exploring the business setup options in Armenia.

What Makes Armenia a Good Choice for Residency 

Our Proven Process of Making Armenia Your Second Home

What Clients Say

Where to find us