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.
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
No Stay or Visit
Maintaining residency in Armenia does not require physical presence; remote application is possible.
Fast and Easy
The residency application usually takes about 80 days and only a valid passport is required.
Residents can sponsor extended family for residency (parents, siblings, grandchildren, etc.)
After living in Armenia for three years, citizenship can be obtained. Dual citizenship is allowed.
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We are committed to keeping your e-mail address confidential. We do not sell, rent, or lease our contact data or lists to third parties, and we will not provide your personal information to any third party individual, government agency, or company at any time.
Our Proven Process of Making Armenia Your Second Home
As part of the preparation process, we will take care of translating your passport, printing photos, and filling out the necessary forms.
Residency for Family
You can sponsor your spouse, children, parents, siblings, grandparents, and grandchildren to obtain residency in Armenia.
In order to qualify for residency, you have the option of either making a low-risk investment in government bonds or donating to a rural development project.
SSN, Tax ID, Etc.
You can obtain a certificate of registered address, a social security number, personal tax identification number, as well as a tax residency certificate.
Applicants can choose to apply for a temporary (1-year) or permanent (5-year) residence permit remotely or in-person.
You can choose from 18 banks offering online and mobile banking, Visa and MasterCard options, and up to 11% interest on deposits in AMD, RUR, etc.
What Clients Say
Overall, I felt it could not have been any better. Everything was taken care of so smoothly, effortlessly, and managed very well.
It is always daunting when dealing with immigration, visas etc in a foreign country. The team at Vardanyan & Partners made the process for registering the business and applying for residency so much easier. I had no worries at all. The team overall really went out of their way to accommodate and assist us.
The team members were all professional, knowledgeable and most importantly, honest. They are hard-working and patient and were always responsive to my messages and questions. What I like most is, they are very well organised and have a modern system of work.
Armenia is a captivating nation with a rich history and a promising future. Our firm is wholeheartedly committed to supporting individuals and businesses that recognize Armenia's potential and are eager to contribute to its ongoing success.
We trust that this website will serve as a valuable resource for you in gathering the information you need. Should you have any questions or require further assistance, please feel free to get in touch with us. You can easily contact us through various channels, such as completing the form on our website, emailing us directly at [email protected], or reaching out via phone or popular messaging apps like WhatsApp, Viber, Telegram, and Skype at +374.99.00.11.67. We are always available to assist you in any way possible.
LL.M. Georgetown University, licensed to practice in both Armenia (license no. 903) and New York (license no. 5148945)
Vardanyan & Partners is a reputable law firm situated in Yerevan, Armenia, which has been providing excellent legal services since its establishment in 2012. Our team of locally licensed, English-speaking attorneys specializes in immigration, incorporation, and compliance matters, ensuring that clients receive expert legal guidance. We are committed to staying up-to-date with the latest changes in legislation and regulations, ensuring that our clients receive the most relevant and accurate advice. At Vardanyan & Partners, we place a strong emphasis on honesty, transparency, and client care.
Where to find us
4/3 Pirumyanner, 4th Floor, Suite 12 , Yerevan, 0054, Armenia