OUR SERVICES;  

• Consultation (in person, online, phone)
• Helping to prepare your documents
• Start to finish your company registration process
• Immigration services

 

 

Armenia

 

Armenia is a country located in the South Caucasus region of Eurasia, bordering Turkey to the west, Georgia to the north, Azerbaijan to the east, and Iran to the south. The country has a rich history and culture that dates back to ancient times, and it has played an important role in the region’s political, economic, and cultural landscape.

Historically, Armenia has been home to various empires and kingdoms, including the Kingdom of Armenia, the Roman Empire, the Byzantine Empire, and the Ottoman Empire. In the early 20th century, Armenia became part of the Soviet Union, which had a profound impact on the country’s political, economic, and cultural development.

Armenia is also known for its rich cultural heritage, which includes a diverse range of music, dance, literature, and art. One of the most famous examples of Armenian culture is the Armenian Apostolic Church, which has been an integral part of the country’s religious and cultural life for over 1,700 years.

In terms of the economy, Armenia has undergone significant changes since gaining independence from the Soviet Union in 1991. The country has transitioned from a centrally-planned economy to a market-oriented economy, and it has implemented a number of economic reforms to improve its competitiveness and attract foreign investment.

Armenia’s political system is a presidential representative democratic republic, with the President serving as the head of state and the Prime Minister serving as the head of government. The country has a multi-party system, with the Armenian National Congress and the Republican Party being two of the most prominent political parties.

Despite its rich history and culture, Armenia faces a number of challenges, including high levels of poverty and unemployment, political instability, and ongoing conflicts with neighboring Azerbaijan over the disputed Nagorno-Karabakh region. However, the country has made significant progress in recent years, and it is widely considered to be one of the most dynamic and promising economies in the region.

Overall, Armenia is a country with a rich history, culture, and economy, and it continues to play an important role in the geopolitical landscape of the South Caucasus region.

 

Types of Companies in Armenia

 

Limited Liability Company (LLC) – This is the most common type of company in Armenia. An LLC can have one or more shareholders and the liability of the shareholders is limited to their share in the company. The minimum share capital for an LLC is AMD 1 million (approximately USD 2,000) and it can be fully owned by foreign investors.

Joint Stock Company (JSC) – A JSC is a company whose capital is divided into shares. A JSC can be public or private and can have a minimum of two shareholders. The liability of the shareholders is limited to the amount of their share capital.

General Partnership (GP) – A GP is a company that is formed by two or more partners who share profits and losses. The partners have unlimited liability for the debts and obligations of the company.

Limited Partnership (LP) – An LP is a company that has one or more general partners who manage the company and are personally liable for its debts, and one or more limited partners who do not participate in the management of the company and have limited liability.

Sole Proprietorship – This is a company owned and operated by a single individual. The owner is personally liable for the debts and obligations of the company.

Cooperative – A cooperative is a company that is owned and operated by a group of individuals who share profits and have a say in the decision-making process.

 

Advantages of company registration in Armenia

 

Simple registration process: The process of registering a company in Armenia is relatively simple and straightforward. The entire process can be completed within a few days with minimal paperwork.

Low startup costs: The costs of starting a company in Armenia are comparatively low, making it an attractive destination for startups and small businesses. The government has also implemented several measures to support startups, including tax incentives and grants.

Favorable tax regime: Armenia offers a highly favorable tax regime, with one of the lowest corporate tax rates in the region at 18%. Additionally, Armenia has signed double taxation treaties with many countries, making it easier for companies to do business internationally.

Strategic location: Armenia is strategically located at the crossroads of Europe and Asia, providing companies with access to major markets in both regions. The country is also a member of the Eurasian Economic Union, which grants it preferential access to the markets of other member states.

Skilled workforce: Armenia has a highly skilled and educated workforce, with a strong tradition in science, technology, and engineering. The country boasts a large pool of talented professionals in various industries, making it an attractive destination for companies looking to expand their operations.

Supportive business environment: The Armenian government has implemented several measures to support businesses, including the establishment of free economic zones, investment incentives, and streamlined business regulations. The country is also actively working to improve its infrastructure, including its transportation and telecommunications networks.

“Our team can provide assistance if you need help registering a company in Amenia.”

 

General Question

 

What is the process of setting up a company in Armenia?
The process of setting up a company in Armenia involves several steps, including choosing a business structure, registering the company with the State Register of Legal Entities, obtaining necessary licenses and permits, and opening a bank account.

What are the legal requirements for company registration in Armenia?
The legal requirements for company registration in Armenia include a registration application, company charter, identification documents for founders, and payment of registration fees.

What is the minimum share capital requirement for setting up a company in Armenia?
The minimum share capital requirement for setting up a company in Armenia depends on the type of company being registered. For example, the minimum share capital requirement for a Limited Liability Company (LLC) is AMD 100,000 (approximately USD 200).

What are the different types of companies that can be set up in Armenia?
The different types of companies that can be set up in Armenia include LLCs, Joint-Stock Companies (JSCs), sole proprietorships, partnerships, and branches of foreign companies.

What are the advantages of setting up a company in Armenia?
The advantages of setting up a company in Armenia include a favorable tax regime, low labor costs, a skilled workforce, strategic location, and access to regional markets.

What are the disadvantages of setting up a company in Armenia?
The disadvantages of setting up a company in Armenia include a relatively small domestic market, corruption, bureaucracy, and limited access to financing.

What is the tax regime for companies in Armenia?
The tax regime for companies in Armenia includes corporate income tax, value-added tax (VAT), and social security contributions.

What is the corporate tax rate in Armenia?
The corporate tax rate in Armenia is a flat rate of 18%.

What are the other taxes that companies in Armenia need to pay?
Other taxes that companies in Armenia may need to pay include VAT, excise taxes, property taxes, and payroll taxes.

What are the accounting requirements for companies in Armenia?
Companies in Armenia are required to maintain accounting records and file tax returns annually.

Are there any restrictions on foreign ownership of companies in Armenia?
There are no restrictions on foreign ownership of companies in Armenia.

What is the procedure for obtaining a business license in Armenia?
The procedure for obtaining a business license in Armenia depends on the type of business and may involve obtaining permits and approvals from various government agencies.

What is the procedure for opening a bank account in Armenia?
The procedure for opening a bank account in Armenia involves submitting identification documents, company registration documents, and other required forms to a bank.

What are the banking options available in Armenia for businesses?
There are several banking options available in Armenia for businesses, including local banks, international banks, and specialized financial institutions.

What are the employment regulations in Armenia?
The employment regulations in Armenia include minimum wage requirements, maximum working hours, overtime pay, and mandatory social security contributions.

What are the labor laws in Armenia?
The labor laws in Armenia govern the relationship between employers and employees, including hiring, termination, and working conditions.

What is the minimum wage in Armenia?
The minimum wage in Armenia is AMD 68,000 (approximately USD 135) per month as of 2021.

What is the working week in Armenia?
The standard working week in Armenia is 40 hours.

What are the requirements for obtaining a work permit in Armenia?
Foreign nationals who want to work in Armenia need to obtain a work permit. The requirements for obtaining a work permit in Armenia include providing a valid passport, a valid visa, a signed employment contract, a health certificate, and payment of a work permit fee.

Are there any incentives for foreign investors in Armenia?
Yes, there are incentives for foreign investors in Armenia, including tax exemptions, reduced customs duties, and investment subsidies. The Armenian government has also established free economic zones to encourage foreign investment.

What is the legal system in Armenia?
The legal system in Armenia is based on civil law. The country has a written constitution, and the legal system includes a hierarchy of courts, including the Constitutional Court, the Court of Cassation, and the Courts of First Instance.

What are the dispute resolution mechanisms in Armenia?
The dispute resolution mechanisms in Armenia include both judicial and alternative dispute resolution methods. Judicial methods include the court system, while alternative dispute resolution methods include mediation and arbitration.

What are the intellectual property laws in Armenia?
The intellectual property laws in Armenia are in compliance with international standards and include protections for trademarks, patents, copyrights, and trade secrets. The Armenian government has also established an Intellectual Property Agency to oversee the implementation of these laws.

What is the process for registering a trademark in Armenia?
The process for registering a trademark in Armenia involves filing an application with the Armenian Intellectual Property Agency. The application must include a description of the trademark, the goods or services to be covered, and the name and address of the trademark owner.

What is the process for registering a patent in Armenia?
The process for registering a patent in Armenia involves filing an application with the Armenian Intellectual Property Agency. The application must include a description of the invention and any relevant drawings or diagrams.

What is the process for registering a copyright in Armenia?
The process for registering a copyright in Armenia involves filing an application with the Armenian Intellectual Property Agency. The application must include a copy of the work being copyrighted and information about the copyright owner.

What are the rules for data protection in Armenia?
The rules for data protection in Armenia are governed by the Law on Personal Data. The law requires that personal data be collected and processed in accordance with certain principles, including the principle of transparency and the principle of consent.

What are the rules for privacy protection in Armenia?
The rules for privacy protection in Armenia are governed by the Law on Personal Data. The law requires that personal data be collected and processed in accordance with certain principles, including the principle of transparency and the principle of consent.

What are the rules for cybercrime in Armenia?
The rules for cybercrime in Armenia are governed by the Criminal Code of Armenia. The code includes provisions that criminalize a range of cybercrimes, including hacking, identity theft, and cyber espionage.

What are the rules for e-commerce in Armenia?
The rules for e-commerce in Armenia are governed by the Law on Electronic Commerce. The law includes provisions that regulate online contracts, electronic signatures, and electronic payments.

What are the rules for online payments in Armenia?
The rules for online payments in Armenia are governed by the Law on Payment and Settlement Systems and Payment Services. The law includes provisions that regulate payment systems and payment services, including online payment systems.

What are the rules for online advertising in Armenia?
The rules for online advertising in Armenia are governed by the Advertising Law. The law includes provisions that regulate the content and placement of advertisements, including online advertisements.

What are the rules for social media advertising in Armenia?
The rules for social media advertising in Armenia are governed by the Advertising Law. The law includes provisions that regulate the content and placement of advertisements, including advertisements on social media platforms.

What are the rules for email marketing in Armenia?
Email marketing in Armenia is governed by the Law on Advertising and the Law on Electronic Communication, which require that all commercial emails must contain a clear and conspicuous opt-out mechanism. In addition, email marketers must obtain prior consent from recipients before sending any promotional emails.

What are the rules for SMS marketing in Armenia?
SMS marketing in Armenia is also subject to the Law on Advertising and the Law on Electronic Communication, which require that all commercial SMS messages must contain an opt-out mechanism. Marketers must also obtain prior consent from recipients before sending any promotional messages.

What are the rules for telemarketing in Armenia?
Telemarketing in Armenia is regulated by the Law on Advertising and the Law on Telecommunications, which require that marketers must obtain prior consent from recipients before making any promotional calls. In addition, telemarketers must not call individuals who have registered on the National “Do Not Call” Registry.

What are the rules for direct mail marketing in Armenia?
Direct mail marketing in Armenia is governed by the Law on Advertising, which requires that all promotional mailings must contain a clear and conspicuous opt-out mechanism. Marketers must also obtain prior consent from recipients before sending any promotional mailings.

What are the rules for sweepstakes and contests in Armenia?
Sweepstakes and contests in Armenia are governed by the Law on Lotteries and Games of Chance, which requires that all promotional sweepstakes and contests must be registered with the Ministry of Finance. Marketers must also provide clear and conspicuous rules, terms, and conditions for participation.

What are the rules for consumer protection in Armenia?
Consumer protection in Armenia is primarily governed by the Law on Consumer Rights Protection, which provides protections for consumers in relation to goods and services. The law requires that marketers must not engage in any deceptive or unfair trade practices and must provide accurate and truthful information about their products or services.

What are the rules for product liability in Armenia?
Product liability in Armenia is governed by the Civil Code of Armenia, which provides that manufacturers and sellers are liable for any harm caused by their defective products. The law requires that marketers must ensure that their products meet all applicable safety and quality standards.

What are the rules for warranties and guarantees in Armenia?
Warranties and guarantees in Armenia are governed by the Civil Code of Armenia, which requires that marketers must provide clear and conspicuous warranties or guarantees for their products or services. Marketers must ensure that their warranties and guarantees comply with all applicable laws and regulations.

What are the rules for refunds and returns in Armenia?
Refunds and returns in Armenia are primarily governed by the Civil Code of Armenia, which provides that consumers have the right to return defective or unsatisfactory products for a refund or exchange. Marketers must ensure that their refund and return policies comply with all applicable laws and regulations.

What are the rules for pricing in Armenia?
Pricing in Armenia is governed by the Law on Prices and Pricing, which requires that marketers must not engage in any deceptive or unfair pricing practices. Marketers must provide clear and accurate pricing information for their products or services.

What are the rules for sales promotions in Armenia?
Sales promotions in Armenia are governed by the Law on Advertising, which requires that marketers must not engage in any deceptive or unfair sales promotion practices. Marketers must provide clear and accurate information about the terms and conditions of their promotions.

What are the rules for import and export in Armenia?
In Armenia, import and export are regulated by the Customs Code of the Republic of Armenia. Businesses engaging in these activities are required to register with the State Revenue Committee and obtain relevant licenses and permits. The import and export of certain goods may be subject to restrictions or prohibitions.

What are the rules for customs clearance in Armenia?
Customs clearance in Armenia is governed by the Customs Code of the Republic of Armenia. Businesses are required to provide accurate information and necessary documents related to the goods being imported or exported. Customs duties and taxes may also be applicable depending on the nature and value of the goods.

What are the rules for tariffs and duties in Armenia?
Armenia applies a generally low tariff rate on imports, with the average applied tariff rate being around 4%. Specific rates depend on the nature of the goods being imported and their country of origin. The country also has preferential trade agreements with some countries that may offer reduced tariffs or duty-free access.

What are the rules for free trade agreements in Armenia?
Armenia has entered into several free trade agreements (FTAs) with other countries and regional blocs, such as the European Union, the Eurasian Economic Union, and Iran. These agreements provide for reduced tariffs, streamlined customs procedures, and other benefits for businesses engaging in trade with these countries or regions.

What are the rules for VAT in Armenia?
Value-added tax (VAT) is applicable to the supply of goods and services in Armenia. The standard VAT rate is 20%, with reduced rates of 0% and 10% applicable to certain goods and services.

What are the rules for excise taxes in Armenia?
Excise taxes are applicable to certain goods in Armenia, such as tobacco products, alcohol, and fuel. The rates of excise tax vary depending on the type of goods and their value.

What are the rules for property taxes in Armenia?
In Armenia, property taxes are levied on immovable property, such as land and buildings. The tax rate depends on the location and type of property, with rates ranging from 0.1% to 2% of the property’s value.

What are the rules for sales taxes in Armenia?
In Armenia, there is no separate sales tax. The applicable tax on the supply of goods and services is the value-added tax (VAT).

What are the rules for payroll taxes in Armenia?
Businesses in Armenia are required to make social security contributions on behalf of their employees. The employer’s share of social security contributions is 23.5% of the employee’s gross salary, while the employee’s share is 5%.

What are the rules for social security taxes in Armenia?
As mentioned, businesses in Armenia are required to make social security contributions on behalf of their employees. The social security system covers various benefits, such as pensions, healthcare, and maternity leave.

What are the rules for personal income taxes in Armenia?
Personal income tax in Armenia is levied on the income of individuals, with a progressive tax rate ranging from 23% to 36%. Non-residents are subject to a flat tax rate of 20% on their income from Armenian sources.

What are the rules for capital gains taxes in Armenia?
Capital gains tax in Armenia is levied on the sale of immovable property and securities. The tax rate is 10% for individuals and 20% for legal entities.

What are the rules for inheritance taxes in Armenia?
Inheritance tax is not applicable in Armenia.

What are the rules for gift taxes in Armenia?
Gift tax is not applicable in Armenia.

What are the rules for estate taxes in Armenia?
Estate tax is not applicable in Armenia.

What are the rules for dividends in Armenia?
In Armenia, dividends are subject to a 10% withholding tax. This tax is imposed on the gross amount of the dividend paid to both resident and non-resident individuals and legal entities. However, if the recipient is a resident of a country with which Armenia has a tax treaty, the withholding tax rate may be reduced or eliminated. The tax is usually withheld by the company distributing the dividends and then remitted to the tax authorities. It’s important to note that the dividend income is also included in the recipient’s taxable income, which may be subject to personal income tax.

 

Documents required to register a company

 

Articles of Association – this is a legal document that outlines the company’s purpose, structure, and regulations.

Identification documents – copies of the passports of all shareholders, directors, and legal representatives.

Proof of address – a utility bill or other official document verifying the address of the company’s registered office.

Certificate of Incorporation – this is a document certifying the formation of the company, issued by the State Register of Legal Entities.

Tax Identification Number (TIN) – all companies in Armenia must have a TIN.

Bank statement – proof of payment of the company registration fee and minimum share capital deposit.

Application for registration – this is a form that needs to be filled out with details about the company and its shareholders, directors, and legal representatives.

 

Major banks in Armenia

 

Ameriabank: Ameriabank is one of the largest banks in Armenia, offering a wide range of banking services including deposits, loans, and credit cards. The bank also provides online banking services and mobile banking, making it easy for customers to manage their finances.

ACBA-Credit Agricole Bank: ACBA-Credit Agricole Bank is a leading bank in Armenia with a strong focus on supporting local agriculture and small businesses. The bank offers a range of services, including personal banking, business banking, and wealth management.

Araratbank: Araratbank is one of the largest banks in Armenia, offering a range of financial services, including personal banking, business banking, and online banking. The bank also has a large network of ATMs and branches throughout the country.

HSBC Bank Armenia: HSBC Bank Armenia is a subsidiary of the global banking giant HSBC. The bank offers a range of financial services, including personal banking, business banking, and wealth management. HSBC Bank Armenia also provides online banking services and mobile banking.

“Our team can provide assistance if you need to open a bank account in Armenia.”

 

The top universities in Armenia

 

Yerevan State University
Location: Yerevan, Armenia
Website: https://www.ysu.am/
Major Courses: Law, Economics, Philology, Physics, Mathematics, Chemistry

American University of Armenia
Location: Yerevan, Armenia
Website: https://aua.am/
Major Courses: Business, Law, Political Science, Computer Science, Engineering, Public Health

Russian-Armenian University
Location: Yerevan, Armenia
Website: https://rau.am/
Major Courses: Business, Law, Computer Science, International Relations, Applied Mathematics

Armenian National Agrarian University
Location: Yerevan, Armenia
Website: https://www.anau.am/
Major Courses: Agriculture, Veterinary Medicine, Food Science, Economics, Management

National Polytechnic University of Armenia
Location: Yerevan, Armenia
Website: http://www.polytechnic.am/
Major Courses: Engineering, Architecture, Applied Mathematics, Computer Science, Management

“If you need assistance registering for college or university, our team is here to help.”

 

International Language Centre in Armenia 

 

American University of Armenia Extension: The American University of Armenia offers English language courses for students of all levels, including general English, business English, and academic English. They also offer preparation courses for exams such as TOEFL and IELTS.

British Council Armenia: The British Council offers English language courses for adults and children, as well as preparation courses for exams such as IELTS and Cambridge English exams. They also offer courses in other languages, such as Spanish and French.

Armenian-Russian (Slavonic) University Language Center: The language center at Armenian-Russian (Slavonic) University offers courses in several languages, including English, French, German, and Russian. They offer courses for all levels and ages, from beginner to advanced.

Inlingua Armenia: Inlingua Armenia offers language courses in English, Russian, French, German, Spanish, and Italian. They offer courses for all levels, from beginner to advanced, and also offer preparation courses for language exams such as TOEFL and IELTS.

Berlitz Language Center Armenia: Berlitz offers language courses in several languages, including English, French, German, and Spanish. They offer courses for all levels, from beginner to advanced, and also offer courses in business language and cultural training.

 

Strange or unusual to visitors in Armenia

 

Toasting: In Armenia, toasting is a big part of the culture, and it can sometimes go on for a while. It is common for people to make toasts to honor people, events, and even inanimate objects. It is also customary to clink glasses and say “cheers” after each toast.

Lavash: Lavash is a type of flatbread that is a staple in Armenian cuisine. It is usually served with meals and used to wrap meats, cheeses, and vegetables. Visitors may find it unusual to see locals using it as a utensil, tearing off pieces of lavash to scoop up their food instead of using a fork or spoon.

Armenian Genocide: The Armenian Genocide was the Ottoman government’s systematic extermination of its minority Armenian subjects. This event is a significant part of Armenian history and is remembered and commemorated by Armenians around the world. Visitors may encounter memorials, museums, and other tributes to the victims of the genocide, which can be a somber and emotional experience.

Hospitality: Armenians are known for their hospitality, and visitors may be surprised at how warmly they are welcomed and how generously they are treated. It is not uncommon for strangers to offer food, drinks, and even a place to stay to visitors they meet.

Cross-stones: Cross-stones, or khachkars, are traditional Armenian gravestones and monuments that are intricately carved with Christian symbols and motifs. They can be found all over the country, and visitors may find them unusual due to their unique style and the fact that they are still being produced and used today.

 

 

“Tips for Newcomers: Adjusting to Life in Armenia”

 

Learn the language: While many Armenians speak English, learning some Armenian will help you navigate daily life, communicate with locals, and gain a deeper appreciation for Armenian culture.

Embrace the culture: Armenians are proud of their rich history and culture, so taking an interest in it can help you connect with locals and feel more at home. Participating in local festivals, trying traditional foods, and exploring historical sites are great ways to immerse yourself in the culture.

Be patient: Life in Armenia can be different from what you’re used to, and it may take time to adjust. Be patient and open-minded, and try to find joy in the little things.

Build a support network: Making connections with locals and other expats can help you feel more at home. Joining clubs or organizations related to your interests or volunteering are great ways to meet people.

Explore your surroundings: Armenia is a small country with a rich history and natural beauty. Take advantage of your time there by exploring the countryside, visiting monasteries and historical sites, and trying new activities.

Stay safe: While Armenia is generally a safe country, it’s always important to take precautions to stay safe. Be aware of your surroundings, avoid walking alone at night, and be cautious when using public transportation.

Be prepared for bureaucracy: Like many countries, Armenia has its fair share of bureaucratic processes. Be patient and prepared to fill out paperwork and wait in lines.

Have a sense of humor: Life in Armenia can be full of surprises and unexpected challenges. Having a sense of humor and being able to laugh at yourself will help you navigate the ups and downs of expat life.

 

Top recruitment agencies in Armenia

 

Career Center: https://careercenter.am/
Ameria Personnel Services: https://www.ameriapersonnel.am/
Skillteam: https://skillteam.am/
MCO Group: https://www.mco.am/
JobFinder.am: https://www.jobfinder.am/
Staff.am: https://staff.am/
JobList.am: https://joblist.am/
JobTrust: https://jobtrust.am/
Prostaff: https://prostaff.am/
HR Solutions: http://www.hrsolutions.am/

 

Necessary phone numbers in ِArmenia

 

• Emergency Services: 911
• Police: 102
• Ambulance: 103
• Fire Department: 101
• Ministry of Emergency Situations: 911
• Gas Emergency Service: 104
• Electric Networks of Armenia: 105
• Yerevan Municipality Hotline: 10-80
• National Security Service: 010-54-40-01
• Border Guard Service: 010-58-45-25
• Ministry of Foreign Affairs: 010-56-00-04

 

The best way to immigrate to Armenia

 

Employment: One of the most common ways to immigrate to Armenia is through employment. You can look for job opportunities through online job portals or connect with recruitment agencies in Armenia to find a suitable job. Once you have a job offer, your employer can help you obtain the necessary work visa and residency permits.

Entrepreneurship: Armenia offers a startup visa program for entrepreneurs who wish to launch or expand their businesses in the country. To qualify, you need to have a well-developed business plan, sufficient funds to support yourself and your business, and be endorsed by a business incubator, accelerator, or other recognized organization in Armenia.

Education: If you want to study in Armenia, you can apply for a student visa. You need to have an acceptance letter from a recognized educational institution in Armenia and provide proof of sufficient funds to support yourself during your studies.

Family reunification: If you have family members who are Armenian citizens or permanent residents, you may be eligible to apply for a family reunification visa.

Investment: If you are willing to make a significant investment in Armenia, you may be eligible for a special investor visa that grants residency and work permits. The investment must be in an approved sector, and you need to demonstrate that you have sufficient funds to invest and support yourself.