Nationals of almost all European countries as well as certain Asian and American countries (see the full list below) do not need a visa to enter Armenia. Normally they can stay in Armenia visa-free for up to 180 days in a year. A longer stay is possible for holders of residence permits (check this page for more information on residence permits).

In practice, the 180-day rule is currently not enforced on returning visitors (e.g. those who cross the border with Georgia/Iran and come back); only uninterrupted stays of over 180 days are punishable by a fine of up to $209, payable upon exiting the country.

A company registered in Armenia must have a business name (firm name) to which it has exclusive rights. The business name shall consist of a distinguishing word or expression (common or proper name, fictitious name or sequence of letters) and the corporate form of the company (e.g. ACME LLC). A business name can be changed but it cannot be assigned to another person unless the company reorganizes. 

The use of words "Armenia," "Armenian," "Arm," the names of Armenian regions, cities, villages can only be used with the approval of the national or local authorities. The annual government fee for using the words "Armenia" or "Armenian" is AMD 600,000 (US$1,233). Moreover, a business name cannot contain names the use of which requires a special license or permit (e.g. "bank," "insurance," "notary" etc). 

A business name cannot be identical or confusingly similar to a business name or trademark previously registered in Armenia. Name searches can be conducted in advance of registration at the websites of the State Registry and the Intellectual Property Agency. While a firm name grants its holder exclusive rights to use it, you should also consider registering a trademark as it generally offers a better protection. 

As of 2020, there are seventeen banks in Armenia offering banking services to individual and corporate clients, both resident and non-resident. All the banks are privately owned and regulated by the Central Bank. In addition to the well-known HSBC international bank, many local banks are with foreign capital from Russia (VTB Bank), France (ACBA-Credit Agricole Bank), Lebanon (Byblos Bank, Anelik Bank), Argentina (Converse Bank), Iran (Mellat Bank) and other countries.

Armenian banks offer excellent customer service, low charges, enhanced privacy and a wide range of modern banking services, including:

• Online and mobile banking, phone banking;
• Debit and credit cards (Visa, MasterCard, AmEx);
• International bank transfers and money remittance services;
• Accounts in USD, EUR, CHF, GBP, CAD, AED, RUR, JPY;
• Gold accounts;
• Wealth management and private banking;
• Deposit boxes, etc.
  

• Opening a Bank Account. Opening a corporate bank account in Armenia typically takes 1-3 business days, depending on the length of background checks conducted by the bank. It may also be possible to open a bank account in Armenia remotely, with a power of attorney. Armenian banks generally do not have minimum deposit requirements and charge only minimum fees for maintaining a bank account. A corporate applicant would be required to present the company registration papers and passport copies of directors, shareholders and beneficiaries (UBO). The bank may request additional documents, such as proof of address, source of income, police clearance certificate, etc.
• Secrecy. Bank secrecy is strictly protected by law. Disclosing bank secrets is a crime punishable by imprisonment and monetary fines. Normally a court order is required for a bank to release information on bank accounts. Under anti-money laundering (AML) regulations banks are  required to report suspicious activity to the Central Bank.  Armenia does not participate in AEOI/CRS but has a FATCA agreement with the U.S.
• Interest rates and taxes. As of February 2020, banks offer interest rates of up to 10% for deposits in local currency and 4.5% for deposits in U.S. dollars. Corporate bonds listed on the Armenian stock exchange generally offer higher rates. Investment services are provided by banks and investment companies, also licensed by the Central Bank. Interest income is generally taxed at 10%. 
• Safety. All banks are licensed and regulated by the Central Bank of Armenia. Bank deposits and bank account balances of up to AMD 10 million in local currency (approx. $21,000) and AMD 5 million in foreign currency (approx. $10,500) are insured by the Deposit Guarantee Fund of Armenia. The deposit insurance system has never been used as there have been no bank runs in the recent history.
• Merchant accounts and payment gateways. Merchant account and Internet acquiring services are available. They allow merchants to accept online payments made with VISA and MasterCard cards through their websites. Generally banks provide the required software free of charge and the merchant does not have to incur additional expenses on programming, certification procedures etc. Payment gateways such as 2checkout work with Armenian bank accounts.

There are no requirements for a newly registered business to become a member of a chamber of commerce or any other other professional association. However, you may join such associations on a voluntary basis. Below is a list of the most popular associations:

• Chamber of Commerce and Industry of the Republic of Armenia
• Chamber of Commerce and Industry of Yerevan
• American Chamber of Commerce
• Union of Manufacturers and Businessmen of Armenia
• Republican Union of Employers of Armenia
• Women Entrepreneurs Network in Armenia
• Union of Advanced Technology Enterprises

Corporate Amendments. Amendments in the articles of the company must be registered with the State Registry.  In particular, changes in the name of the company, its statutory capital, address, executive directorship require making amendments to the articles. In case of a limited liability company (LLC) changes in shareholding also must be registered. Documents submitted are checked and registered within two business days, unless the applicant pays the fast-track service fees for urgent registration (see the table below).

Dissolution. Dissolution of a company requires posting an announcement on the official website www.azdarar.am to notify the creditors of the company. The creditors have two months to file their claims. The tax office has 20 days to submit its claims for unpaid taxes. Normally this is preceded by a tax audit in the company. The dissolution of the company also involves working with the National Archive and the Police in order to archive the corporate documents and to hand over the company's stamp, respectively. 

The alternative to dissolution can be filing a declaration with the tax office stating that the company is inactive. The inactive (dormant) company will remain on the register but will not be required to file tax returns or pay taxes. 

Reorganization. Reorganization of the company can take the form of a merger, spin-off, split-off, or change in the corporate structure (e.g. LLC turns into a JSC or vice versa). Reorganization also requires posting a public announcement to notify potential creditors. 

Dissolution or corporate amendments can be registered remotely by your lawyer or other representative having the necessary power of attorney.