Why is worth to set up company in Armenia?
The Armenian government has done hard work to make their market attractive to foreign investors from all over the world. This country is distinguished by a liberal and friendly investment policy, qualified IT specialists and relatively low operating costs. Let’s check why you should open a company in Armenia!
Armenia combines many factors that enable companies from the technology sector to grow rapidly. Favorable investment policies and friendly government approach are some of them. The great advantage of investment in that area is the availability of specialists in mathematics, IT and finance. This allows you to build a strong and specialized team at relatively low costs.
Company in Armenia – open-door policy for foreign investors
Armenian tax system supports the development of new technologies by offering at least a five-year period of total VAT and income tax exemption for new IT companies. The result is numerous technology centers and IT incubators. The technological potential of Armenia was discovered by Microsoft, which launched there the Microsoft Innovation Center, which, among others trains future specialists and supports the development of innovative ideas and products.
Not only entities from the IT industry can count on the support and open-door policy. Armenia also supports small and medium-sized enterprises. If their annual sales do not exceed $ 240,000, they are subject to tax at only 1.5%.
Registration of a company in Armenia with our help is very quick. It usually takes 3 to 14 days. What is more, there is no minimum amount of the Armenian company’s share capital.
Armenia as the gateway to new markets
An additional advantage of the Armenian investment market is that it can be a gateway to the Russian market. It is because Armenia is a part of Eurasian Economic Union. It is also important that the country is located between two important economic centers – the Middle East and North Africa. To encourage foreign investors the Armenian government has implemented foreign investment program which guarantees avoiding expropriation and nationalization. Armenia has a sign a number of trade agreements facilitating cooperation (e.g. on the avoidance of double taxation) with many European countries.
What makes Armenia’s economy stable?
It has been 29 years since Armenia gained independence. During this time, the government carried out a number of reforms, thanks to which gained to the title of ‘Caucasian Tiger’. The dynamic development of the Armenian economy is concretely reflected in the financial sector. Thanks to the highly developed infrastructure of banks, the Armenian administration can boast of the fewest crises in that region of the world, which ensures the stability of business development. In addition, Armenia recorded over 8% of GDP growth in 2019, which gives them one of the best results in the world.
To sum up, the Armenian economy has made a big step after the collapse of the USSR and the privatization of the economy. In order to increase the inflow of foreign capital, the Armenian government has prepared a number of friendly investment solutions. What is more, the government’s friendly approach as well as the country’s economic stability create the conditions for long-term investment in every industry.