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COMPANY IN ARMENIA

2024-11-13

Armenia is one of the fastest technologically developing countries in the former Soviet bloc. The establishment of a company in Armenia is encouraged by this country’s liberal and friendly investment policy, qualified IT specialists, and relatively low business costs.

The Armenian tax system favours the development of new technologies, offering, for example, 5 years of total VAT exemption for Armenian companies and income tax for new IT companies. The country is putting much effort into creating new regulations and becoming one of the most accommodating places, including for the cryptocurrency market.

The advantage of running a company in Armenia is that the country belongs to Russia’s free trade zone along with Central Asian countries and is still not a party to the Common Reporting Standard information exchange.

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Why setting up a company in Armenia a good idea?

Owning a company in Armenia can be attractive to many entrepreneurs. The Armenian government favours the development of new technologies. Companies in Armenia can count on, among other things, 5 years of total income tax and VAT exemption for new IT companies. This has resulted in a large number of technology centres and IT incubators. Armenia’s technological potential was discovered by Microsoft itself, which launched its Microsoft Innovation Center there; among other things, the centre trains future specialists and supports the development of innovative ideas and products.

The Armenian investment market also enjoys the advantage of being a “gateway” for many European companies in Armenia to enter the Russian market.

Armenia is a member of the Eurasian Economic Union. It is also significant that the country is located between two important economic centres – the Middle East and North Africa. The Armenian government extends a special foreign investment programme to foreign business partners opening companies in Armenia, to ensure they are not at risk of expropriation of property or its nationalisation. It is also worth noting that Armenia has signed a number of trade agreements (e.g. on avoiding double taxation) with many countries, including Poland.

Advantages of owning a company in Armenia

  • TAX RELIEF FOR TECHNOLOGY BUSINESSES
  • A LARGE NUMBER OF IT SPECIALISTS
  • FRIENDLY INVESTMENT POLICY
  • HIGHLY DEVELOPED FINANCIAL INFRASTRUCTURE
  • LOW OPERATING COSTS
  • TECHNOLOGICAL LEADER IN THE REGION
  • NO MINIMUM INITIAL CAPITAL
  • QUICK REGISTRATION OF COMPANIES – UP TO 14 DAYS

    A company in Armenia – who can find it a good solution?

    Not only Armenian IT companies can count on support and an “open door” policy. Armenia also supports small and medium-sized entrepreneurs, and this encourages many entrepreneurs to establish a company in Armenia. If their annual sales do not exceed $240,000, they are taxed at only 1.5%.

    Registering a company in Armenia by granting a power of attorney to our law firm is a relatively fast process. In practice, it takes up to 14 days. It is worth mentioning that there is no specified minimum share capital amount for a company in Armenia.

    A company in Armenia is a good solution for:

    • IT companies
    • blockchain
    • the cryptocurrency industry
    • exporters/importers
    • construction companies
    • consultancy agencies

    The procedure of establishing a company in Armenia

    BUSINESS

    A company in Armenia without the need for you to be present on site. You grant a power of attorney to our lawyer; we handle all the paperwork for you. Everything you need to run a company in Armenia:

     
    • You sign an agreement with us
    • You grant a power of attorney allowing us to represent you in Armenia
    • We register the company in Armenia in line with your instructions (its name, area of business activity, capital)
    • We provide you with a set of documents, including the articles of association, the registration card, the share purchase confirmation

    How long does it take? Up to 14 days

    Scope of our services offered to companies in Armenia

    Thompson&Stein’s services for your company in Armenia:

    • HANDLING THE PROCESS OF REGISTERING A COMPANY IN ARMENIA
    • DRAWING UP CORPORATE DOCUMENTS
    • SUPPORT IN REGISTERING A SEAT FOR YOUR COMPANY IN ARMENIA
    • HANDLING THE INCOME TAX EXEMPTION APPLICATION
    • ACCOUNTING AND TAX SETTLEMENTS

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