Company 2020.02.26 (Company General Form)

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In 2019, Armenia's GDP grew by 7.6% - the highest rate in all of Europe. Foreign business owners and investors appreciate the pace of the economic reforms, Armenia's safety, freedom and openness. Many prefer to visit Armenia in person and register a business as a first step to enter the market.

A knowledgeable local lawyer can help you to minimize risks by ensuring compliance with tax, labor, immigration and other regulations, avoid pitfalls and take advantage of tax benefits and other government assistance programs, especially if you do not speak Armenian or plan to run your business remotely.

Legal Guide to Company Formation in Armenia

#1. Corporate Forms

To select the right form for your business you may have to consider a number of tax and non-tax factors, such as limited liability, setup and maintenance costs, privacy, number of shareholders, management structure and exit options.

Private Entrepreneur (PE). A PE is an individual registered with the State Registry to whom a tax ID is assigned. A PE is not a company (not a separate legal entity) and his liability is not limited to the assets invested in the business. In other words, a PE's business and personal assets are not separated and he may be held personally responsible for any liabilities resulting from the business activities. On the positive side, this form of business is the easiest and cheapest to set up and maintain (no taxes on dividends, simplified accounting etc.). It suits better for smaller businesses that are owned and operated by a single individual.
Limited Liability Company (LLC). An LLC is the most common corporate form in Armenia. As the name suggests, it offers limited liability to its shareholders who are not personally liable for the company's debts. The LLC form is popular because of easy and inexpensive setup and maintenance, simple management structure and less corporate formalities. The number of members (shareholders) is limited to 49. You may also create an Additional Liability Company, which is essentially the same as an LLC but is different in that the shareholders are personally liable for the debts of the company to the extent specified in the articles or organization.
Joint-Stock Company (JSC). A joint-stock company is a corporate form that suits better for medium and large businesses with several shareholders. This is a stronger entity offering better privacy to shareholders and with more options for structuring the share capital and the management of the company. In an open JSC (OJSC) shares can be transferred freely, and shareholders do not have preemptive rights to purchase the shares.

Enter your text here...	Limited Liability Company (LLC)	Joint-Stock Company (JSC)
Shareholder Register	The register of shareholders is maintained by a governmental agency (National Registry) and is annexed to the articles of organization. The register is public. Articles of organization have to be amended every time share ownership changes.	The register of shareholders is maintained by a bank or an investment company for a fee. The register is not public.
Exit and Sale of Shares	Shareholders have preemptive rights to purchase shares before they are offered to third parties. A shareholder may exit the company any time and claim a refund equal to the value of his share.	In a close joint-stock company (CJSC) shareholders have preemptive rights to purchase shares. In an open joint-stock company (OJSC) no such rights exits and shares can be freely transferable.
Share Capital	Capital may be divided in registered shares.	Share capital can consist of certain classes of common/preferred, voting/non-voting shares.
Annual Meeting of Shareholders	Annual meetings can be held remotely with shareholders casting their votes means of distant communication.	Annual meetings can be held anywhere in the world, and shareholders can be represented by proxies.
Board & Management	Shareholders appoint one executive manager (director). Creation of an upper-tier board of directors is optional.	Shareholders appoint one executive manager or a management board. Creation of an upper-tier board of directors is required only for companies with more than 50 shareholders.
Internal Audit	An internal auditor or audit committee is optional for companies with less than 21 shareholders.	An internal auditor or audit committee is mandatory.
In-Kind (Non-Cash) Contributions	A report by an external appraiser is required if the nominal value of the shares issued in exchange for in-kind contributions exceeds AMD 500,000.	A report by an external appraiser is required for all in-kind contributions.

Partnership. A partnership may be registered as a separate legal entity or it can be formed as an agreement between the partners (contractual partnership). Partnerships generally are less regulated and offer more flexibility. Unlike an LLC or a JSC where the company is managed by a single director (chief executive officer), a partnership may be actively managed by several partners. It is possible to create either a general partnership or a limited partnership. General partners are personally liable for the debts of the business, whereas the limited partners are passive investors who cannot lose more than their investment. A contractual partnership is not subject to registration, however the tax office must be notified of its creation.
Cooperative. A cooperative is an association of workers where each member has one vote and profits are shared based on contribution of labor, not capital. This is a unique corporate form that better suits smaller employee-owned businesses which value labor more than capital. Special regulations apply to agricultural cooperatives.
Private Equity Fund. A private equity fund is an entity used for making investments in real estate, securities and other assets. A private equity fund is registered by the Central Bank of Armenia and enjoys substantial tax benefits, such as annual tax equal to only 0.01% of the net value of its assets, tax-free distribution of profits etc.
Non-Corporate Forms of Doing Business. Business partners may also enter into non-corporate forms of collaboration based on contractual agreements of joint-venture, franchising, trust management, agency, commission, delegation etc.

Illegal entrepreneurship, i.e. operation of an unregistered business, is a serious tax and criminal offense in Armenia. You should seek professional advice if you are not certain whether your business activities in Armenia require registration.

#2. Subsidiary, Branch Office, Representative Office

Branch Office (BO). A branch office is a territorial unit (subdivision) of a foreign company in Armenia. It is not a separate legal entity but an extension of a foreign company. Branch offices operating in Armenia are required to register with the State Registry and to get a taxpayer ID number.
Subsidiary. A subsidiary is a locally registered company (LLC or JSC) that is wholly or partly owned by a foreign company. All corporate matters are regulated by the Armenian law. Because of the limited liability the subsidiary's creditors will not be able to reach the foreign shareholders.

Enter your text here...	Branch Office	Subsidiary
Tax Factors
Taxation of Worldwide Income	Only income from Armenian sources is taxed.	Worldwide income is taxed.
Repatriation of Profits (Dividends & Interest)	Transfers of funds between the branch office and the head office are non-taxable intra-company transfers.	Dividends and interest income paid to a foreign parent company are taxed at 10% or a lower rate if a DTT applies.
Transfer of Assets from/to Head Office (Parent Company)	Intra-company transfers of assets are generally not taxable.	Transfers may result in capital gain taxes or VAT.
Double-Tax Treaties (DTT)	Branch offices are non-residents and Armenia's DTTs do not apply to them.	A subsidiary is an Armenian company that can benefit from Armenia's DTTs.
Taxation of Dividend Income	Dividend income is taxable.	Dividend income is not taxable.
Tax Benefits for Residents	Special rates and exemptions are generally not applicable to branch offices.	Subsidiaries are resident companies and can take advantage of certain tax benefits (reduced rates or exemptions).
Non-Tax Factors
Limited Liability	Head office is liable for all debts of the branch office.	Parent company enjoys limited liability and generally is not responsible for the subsidiary's debts.
Applicable Law	A branch office is not an Armenian entity and is governed by the laws of the jurisdiction where the head office is located.	A subsidiary is an Armenian company and must comply with the Armenian company laws.
Business Name	Branch office must use the name of the foreign company (head office).	Subsidiary's business name can be different from that of the parent company.
Currency Controls	Branch office is considered a non-resident and can use foreign currency in its dealings with Armenian residents.	A subsidiary is an Armenian resident company and must comply with foreign currency control requirements.

Representative Office. A representative office is similar to a branch office with the exception that it is not allowed to engage in business activities. Its role is limited to representing the interests of the foreign company in Armenia. Representative offices operating in Armenia are required to register with the State Registry and to get a taxpayer ID number.
Permanent Establishment. A permanent establishment is primarily a tax concept. It exists where a foreign company maintains a certain level of business presence in Armenia. The choice of registering a permanent establishment is primarily motivated by tax reasons. The Tax Office registers permanent establishments and assigns taxpayer ID numbers to them.

#3. Non-Profit Organizations

#4. Registration Process, Documents, Time, and Costs

Service	Government Fee	Fast-Track Service Fee
Company Formation	None	One business day - AMD 30,000 ($62)
Change of Corporate Name	AMD 10,000 ($21)
Change of Address
Change of Executive Director
Change of Shareholders (LLC)
Change of Capital
Amendments to Articles
Branch Office Registration	AMD 12,000 ($25)	N/A
Dissolution (Deregistration)	None	N/A
Corporate Reorganization	AMD 10,000 ($21)	Two business days - AMD 100,000 ($207); Five business days - AMD 50,000 ($103)
Redomiciliation	AMD 10,000 ($21)	N/A
Certificate of Registration (Good Standing)	AMD 8,000 ($17)	N/A

#5. Business Name

#6. Legal Address

#7. Shareholders & Managers

#8. Bank Account

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.

Because of AML requirements it may be difficult or even impossible to open corporate bank accounts for companies that have limited ties to Armenia, e.g. no actual place of business in Armenia. Not all banks work with clients from countries under international or U.S. sanctions (e.g. Iran, Syria, etc). If the company is owned or managed by a national of one of these countries it is recommended to check the possibility of opening a bank account in advance.

#9. Licenses & Permits

The general business license is generally sufficient to start your business in Armenia. However, certain businesses require additional licenses at the national or local level. In certain cases only a formal notification is required.

National License

Business Activity	Licensing Agency	Annual License Fee
Weapons & Security
Manufacturing of and trade in explosives, blasting operations	Ministry of Emergency Situations	300,000-400,000 ($630-840)
Manufacturing of and trade in weapons; import, export or transit transportation of military products, intermediary activities in trade in military products	Ministry of Defense; Ministry of High-Tech Industry	50,000 -500,000 ($105-1,050)
Private guarding	Police	None
Medicine & Drugs
Manufacturing of and trade in narcotic drugs or psychotropic substances or their precursors	Ministry of Health	100,000 ($210)
Production of drugs		200,000 ($420)
Pharmacies; wholesale trade in drugs		50,000 -100,000 ($105-210)
Medical services		50,000 ($105)
Financial Services
Foreign currency dealers/brokers; foreign currency trading; foreign currency trading auctions	Central Bank	500,000-1M ($1,050-2,020)
Investment services; central depository, operator of a regulated market		500,000 ($1,050)
Banks; credit organizations		6-8M ($12,580-16,770)
Pawnshops		1,5-2M ($3,140-4,190)
Investment fund management		500,000 ($1,050)
Life insurance and non-life insurance; reinsurance; insurance brokerage		250,000-3M ($524-6,290)
Cash-in-transit		300,000 ($629)
Credit bureaus		1M ($2,020)
Money remittance services		1M ($2,020)
Processing and clearing of payment instruments		1M ($2,020)
Energy & Water
Natural gas import/export, distribution, transportation	Public Services Regulatory Commission	10M - 15M ($21,000-31,000)
Electricity production, transmission, distribution, import/export; thermal energy production, transportation, distribution		100,000-30M ($210-63,000)
Electricity and gas supply operator services; services provided to the energy market		100,000 - 5M ($210-$10,000)
Drinking water and wastewater services		100,000 ($210)
Education
Education programs (preschool, elementary, general, vocational, bachelor and master)	Ministry of Education Ministry of Health	10,000-300,000 ($21-630)
Telecommunications
Public electronic communications network	Public Services Regulatory Commission	10,000-1M ($21-$2,020)
Broadcasting of TV or radio programs; multiplexing	Television and Radio Committee	100,000-500,000 ($210-$1,050)
Postal services	Ministry of High-Tech Industry	3M ($6,300)
Gambling
Lotteries; Internet gambling	Ministry of Finance	600M ($1.25M)
Gambling & casinos	Ministry of Finance	35M - 5,5B ($73,000-11.5M)
Transportation
Railway transport	Ministry of Territorial Administration and Infrastructure	1M ($2,020)
Technical inspection of vehicles		1M ($2,020)
Public transportation; taxi cab services		100,000-200,000 ($210-420)
Other
Construction, including document development and inspections	Urban Development Committee	40,000-100,000 ($80-210)
Financial auditing	Ministry of Finance	250,000 ($520)
Hazardous waste utilization	Ministry of Environment	200,000 ($420)
Nuclear energy-related activities	Nuclear Safety Committee	5,000-2M ($10-$4,200)

Local License

Service	Period	License Fees in Yerevan
Restaurants and other food services	Quarterly	578-87,500 ($1.2-183), depending on structure, size and location
Sale of alcoholic beverages	Quarterly	4,200-175,000 ($9-366), depending on size and location
Sale of tobacco products	Quarterly	4,200-175,000 ($9-366), depending on size and location
Operating food services, entertainment, trade, gambling and lottery facilities, saunas after 24:00	Annual	120,000-3M ($251-6,277), depending on type of business
Organizing open-air trade	Daily	500 ($1.05) per sq. m.
Retail sale of jewelry items	Annual	50,000 ($105)
Sale of liquid fuels, compressed natural or liquefied petroleum gases	Annual	600,000 ($1,255) - annually; 87,500 ($183) if sold in retails stores or kiosks
Sale of technical fluids in vehicle repair or inspection shops	Annual	87,500 ($183)
Taxi cab services	Annual	10,000 ($21) per vehicle
Funeral services	Annual	1,500,000 ($3,138)
Private cemeteries	Annual	5-20M ($10,461-41,846)
Karaoke bars, discotheques, baths, or saunas	Annual	150,000 ($314)
Strip clubs	Annual	1,500,000 ($3,138)

Notification

Business Activity

Agency

Annual Fee

Weapons & Security

Manufacturing or trade in pyrotechnic products

Ministry of Finance

10,000-50,000 ($21-105)

Medicine & Drugs

Production of biological substances used in veterinary medicine

Ministry of Economy

200,000 ($420)

Veterinary-sanitary examination

Ministry of Finance

10,000-50,000

($21-105)

Production or sale of chemical or biological substances for plant protection

Ministry of Economy

10,000-50,000

($21-105)

Genetic engineering

Ministry of Health

50,000

($105)

Energy & Water

Drilling operations for the use of freshwater

Ministry of Environment

200,000

($420)

Telecommunications

Public electronic communication services, with the exception of services requiring ownership or operation of a public electronic communications network

Public Services Regulatory Commission

200,000

($420)

Other

Production of liquors, wine, beer; import of vodka

Ministry of Economy; Ministry of Finance

25,000-15M

($51-$30,690)

Hallmarking of items made of precious metals

Ministry of Economy

200,000

($420)

Organization of trading facilities

Ministry of Finance

300,000-1M

($614-2,020)

Trade, import, export, transportation of natural loose diamonds

Ministry of Economy

($2,020)

Import of Cement

Ministry of Economy

14,000 ($29) per ton

#10. Chambers of Commerce

#11. Changes & Dissolution

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.

Government Fees for Corporate Amendments

Service	Government Fee	Fast-Track Service Fee
Company Formation	None	One business day - AMD 30,000 ($62)
Change of Corporate Name	AMD 10,000 ($21)
Change of Address
Change of Executive Director
Change of Shareholders (LLC)
Change of Capital
Amendments to Articles
Branch Office Registration	AMD 12,000 ($25)	N/A
Dissolution (Deregistration)	None	N/A
Corporate Reorganization	AMD 10,000 ($21)	Two business days - AMD 100,000 ($207); Five business days - AMD 50,000 ($103)
Redomiciliation	AMD 10,000 ($21)	N/A
Certificate of Registration (Good Standing)	AMD 8,000 ($17)	N/A

#12. Armenia & Georgia Comparison

#13. Armenia in International Rankings

Index	Position	Number of Countries
World Bank Doing Business 2020	47	190
Index of Economic Freedom 2019	47	180
Global Competitiveness Index 2019	69	141
WIPO Global Innovation Index 2019	64	129
Human Freedom Index 2019	54	162
Global Law and Order 2019	33	142
Prosperity Index 2019	61	167
World Democracy Index 2019	86	167
Corruption Perceptions Index 2019	77	180
Human Development Index 2019	81	189
Human Capital Index 2018	78	157
Travel & Tourism Competitiveness 2019	79	140

9 Reasons for a Company in Armenia

1. Ultra-Fast and Easy Registration

Company registration can be done in a single day if you are physically present in Armenia and choose to use sample registration documents. If the documents are customized or in case of remote registration (with a power of attorney) the process takes one to three business days. Setting up a corporate bank account normally takes one day. Only minimum documents are required, such as the passports of the shareholders and directors. You will get a registration certificate with a taxpayer ID number, ready to start operating immediately.

2. Low Cost of Registration and Maintenance

There are no minimum capital requirements. The company's paid-up capital can be as low as $1. There are no government fees for registering or renewing the registration of a company. The company can be in good standing without paying recurring fees of filing reports. Inactive (dormant) companies do not pay taxes and do not file tax returns. There are no requirements to rent an office, hire local people (directors, officers, secretaries, accountants, etc.), open a bank account, etc.

3. No Restrictions on Foreign Ownership

Foreigners can own 100% of an Armenian company. No local partners or agents are required. No restrictions apply to the citizenship or residency of the shareholders. All the directors and employees of an Armenian company can be foreigners. They are not required to reside in Armenia or have a local address. A foreigner can be the only director and the 100% owner of a company.

4. Residence and Path to Citizenship

Owning or managing an operational company in Armenia can qualify you and your family members for a residence status (temporary, permanent, or special). Foreign business owners and investors can directly petition the Prime Minister for citizenship by exception. Under general naturalization rules, a foreigner may become eligible for Armenian citizenship after three years of residency.

5. Low Taxes

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 $240,000 are subject to sales (turnover) tax of only 1.5-5%. Dividends are generally taxed at 5% but this rate can be lower due to multiple double-tax treaties Armenia has signed. 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.

6. Privacy and Reputation

It is possible to ensure the privacy of company ownership by selecting the right corporate structure or by using nominee services. Bank secrecy is strictly protected by law and it is a crime to disclose it. As of 2020, Armenia does not participate in CRS automatic exchange of information (AEOI). Armenia does not appear on any list of offshore jurisdictions, lending to its positive image and credibility. The country has an up to date anti-money laundering legislation, and the Central Bank has ensured the safety, stability and good reputation of the banking system.

7. Educated and Low-Cost Labor

It is possible to find highly educated and skilled workforce in Armenia. The adult literacy rate is 99.7%. Universities in Russian, English and French operate in Yerevan. The minimum monthly salary for full-time employment is $140, while the average monthly salary in the country is around $380.

8. Economic Growth and Integration; Diaspora

In 2019, Armenia's GDP grew by 7.6% - the highest rate in all of Europe. Armenia is a member of the Eurasian Economic Union (EEU), a Russia-led economic block, with a single market of 180 million people. Armenia is also a member of the WTO, has free-trade agreements with ex-Soviet (CIS) countries and benefits from preferential status (GSP) with the EU, Canada, Japan, Norway and Switzerland. Armenia benefits from the human and financial resources of the Armenian diaspora - Armenian communities around the world numbering an estimated 7 million people.

9. Investment-Friendly Environment

Armenia guarantees free repatriation of invested capital and profit. Foreigners are allowed to own land. Investment projects are encouraged with tax benefits and government assistance programs. Armenia has a wide network of agreements on double taxation and protection of foreign investment.

Country Overview


	Area: 29,700 SQ.KM.
	Population: 2,962,000
	Capital: YEREVAN (1,075,000)
	Religion: Christianity
	lANGUAGE: ARMENIAN
	LITERACY RATE: 99.6%
	KNOWLEDGE OF ENGLISH: 40%

	climate: summer 35c; winter 0c
	Currency: Dram ($1 = 475 AMD)
	average salary: $378
	gdp growth: 7.6%
	gdp per capita: $4,212
	WB DB rank: 41
	unemployment: 16.9%
	inflation (2018): 2.5%

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Nerses Isajanyan

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

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Nerses Isajanyan

Attorney

LL.M. Georgetown University

New York Bar | Armenia Chamber of Advocates

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Why Invest in Yerevan Real Property

100% Foreign Ownership

High Appreciation Rates

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No Gift or Inheritance Taxes

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Low Property Taxes

No Stamp Duties

Residency & Citizenship

NGO
1. https://www.e-register.am/am/docs/427
Licenses & Permits
1. https://mineconomy.am/page/1253
1. Changes & Dissolution
  1. https://www.e-register.am/am/docs/156
Chamber of Commerce

Why Invest in Armenia

Ultra fast
Low cost
100% foreign ownership
International Ranking
1. https://mineconomy.am/page/288
2. https://www.mineconomy.am/page/94
Financing
1. Bank Loan
2. VC

How to Do Business in Armenia

Government Assistance & Tax Benefits

Government Assistance Projects
Property & Land
1. https://mineconomy.am/page/1456
2. Land Code art. 65
Privatization
Public-Private Partnership
1. https://www.stateproperty.am/am/
2. https://mineconomy.am/page/1414
Tax Benefits
1. Tax-Free IT Companies
2. Tax-Free Microbusinesses
3. Tax-Free Towns & Villages
4. FEZ
  1. - https://armenia.eregulations.org/
    - https://www.mineconomy.am/page/255
5. Industrial Zones - https://www.arlis.am/DocumentView.aspx?DocID=94508
6. Tax-Exempt Activities
  1. VAT Exempt
  2. CIT Exempt
7. Investment projects
  1. Tax credit for newly created jobs - up to 30% of the tax bill (127.1)
  2. VAT deferral (79)
  3. Exemption from customs duties - https://www.arlis.am/DocumentView.aspx?DocID=116976
Subsidies
Law on Foreign Investments, bilateral treaties
Free trade agreements
Public Procurement

Business Opportunities

IT
Energy
Agriculture
1. https://mineconomy.am/page/1338
2. https://www.mineconomy.am/page/1326
3. Financial assistance
4. Credits
5. Equipment leasing
6. Insurance
7. http://old.minagro.am/%d6%86%d5%ab%d5%b6%d5%a1%d5%b6%d5%bd%d5%a1%d5%af%d5%a1%d5%b6-%d5%a1%d5%bb%d5%a1%d5%af%d6%81%d5%b8%d6%82%d5%a9%d5%b5%d5%a1%d5%b6-%d5%ae%d6%80%d5%a1%d5%a3%d6%80%d5%a5%d6%80/
Import/Export
1. https://www.mineconomy.am/page/85
2. https://mineconomy.am/page/791
3. Larege exporters of goods and services (40B or 50B) - 5% or 2%
Retail
Construction
Diamonds/Jewelry
Cryptocurrency
Hotels
Tourism
1. https://www.mineconomy.am/page/89
2. https://www.mineconomy.am/page/880
Restaurant
Financial Company
Franchise opportunities
E-commerce
Healthcare
1. http://old.moh.am/?fbclid=IwAR1gJkC2QHTcRIMRre8vomhCnw4xEpM6cuhMULFmHbOELZwXbXE6k4gz-ME#1/104
2. http://old.moh.am/?fbclid=IwAR1gJkC2QHTcRIMRre8vomhCnw4xEpM6cuhMULFmHbOELZwXbXE6k4gz-ME#1/111
Education
Gambling
Database
1. https://www.regions4growth.am/

Company Registration

Taxes, Accounting & Compliance

Tax Systems
Payroll taxes
Import taxes
Tax compliance
Labor compliance
Corporate compliance
Financial Statements
Audits

Permits & Licenses -

Trash Removal, Utilities (PSRC), Condominium, External Advertisement

Businesses for Sale

Services

Tax Planning
Estate Planning
Asset Protection
Intellectual Property
Real Estate
Financial Instruments
Accounting
Audit
Virtual Office
Bank Account
IPO
Redomiciliation
Office Setup
M&A
Dissolution
Corporate Secretary

Tax-Free IT Companies
Free Economic Zones
Tax-Free Towns & Villages
Private Equity Funds
List of Tax-Exempt Activities
Import/Export
Energy
Government Assistance

Tax-Free Mirobusinesses
Document Preparation
Bank (Escrow) Accounts
Assistance with Payments
Shelf Companies
Branch/Subsidiary
Types of Companies
Farming/Agriculture
IT Company
Store

Construction
Diamonds
Export to Russia
Cryptocurrency Business
Virtual Office
Name Availability
Hotel Industry
Travel Agency
Restaurant
NGO/Foundation
Financial Company

Starting a Business in Armenia 2020

Starting a Business in Armenia 2020

Legal Guide to Company Formation in Armenia

#1. Corporate Forms

#2. Subsidiary, Branch Office, Representative Office

#3. Non-Profit Organizations

#4. Registration Process, Documents, Time, and Costs

Government Fees for Company Registration and Amendments

#5. Business Name

#6. Legal Address

#7. Shareholders & Managers

#8. Bank Account

#9. Licenses & Permits

National License

Local License

Notification

#10. Chambers of Commerce

#11. Changes & Dissolution

Government Fees for Corporate Amendments

#12. Armenia & Georgia Comparison

#13. Armenia in International Rankings

9 Reasons for a Company in Armenia

1. Ultra-Fast and Easy Registration

2. Low Cost of Registration and Maintenance

3. No Restrictions on Foreign Ownership

4. Residence and Path to Citizenship

5. Low Taxes

6. Privacy and Reputation

7. Educated and Low-Cost Labor

8. Economic Growth and Integration; Diaspora

9. Investment-Friendly Environment

Country Overview

Nerses Isajanyan

Managing AttorneyLL.M. Georgetown UniversityNew York Bar | Armenian Chamber of Advocates

Why Us

Book Your Meeting in Yerevan

Our Services

Request Call Back

Check Company Name Availability

Check Taxes

Industries

Nerses Isajanyan

Why Choose Us

Why Invest in Yerevan Real Property

100% Foreign Ownership

High Appreciation Rates

High Rental Yield

Fast & Safe Registration

No Gift or Inheritance Taxes

No Tax on Capital Gains

Low Property Taxes

No Stamp Duties

Residency & Citizenship

Why Invest in Armenia

How to Do Business in Armenia

Government Assistance & Tax Benefits

Business Opportunities

Company Registration

Taxes, Accounting & Compliance

Businesses for Sale

Services

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