Eternity Law International — News — Company registration in Armenia in 2023

Company registration in Armenia in 2023

Published:
November 7, 2022

Attractiveness and commercial value of this jurisdiction is due to the rapid growth of its economy, the high level of security of operations and data protection, and openness to new enterprises. Company registration in Armenia in 2023 requires mandatory compliance with all rules and laws, in return giving the opportunity to take advantage of tax incentives and other useful programs developed by the government of the country to attract foreign investors. The local community also favors those entrepreneurs who do not know the local language, or who want to establish organization outside jurisdiction.

Armenian company registration: why is it worth launching a commercial project there?

  1. Register Company in Armenia is fairly quick and easy. This process can be fully completed in just one day if you are in the territory of Armenia and use the forms provided on registration spot. If enterprise is registered remotely and the documents are to be delivered by mail, the procedure lasts 1-3 days. You can also open a bank account in 1 day. For this, directors and shareholders passports are needed.
  2. Reasonable cost of registration and further maintenance. There are no requirements for start-up capital, as well as state duties. Firms that are in a non-operational state and do not actually carry out transactions in the actual mode should not pay taxes. You can act without an office and local workers.
  3. There are no restrictions on foreign ownership. Foreign citizens can fully own the company, without Armenian partners or agents. There is no obligation to reside in Armenia or hold citizenship.
  4. The owner of a company in Armenia and his family can become residents of the country. And after 3 years of residence in the territory of the state, and citizens.
  5. Minimum tax rates. Micro-companies, IT start-ups and some other firms have a 0% tax. Other small companies whose income is less than 240 thousand dollars a year pay sales tax from 1.5% to 5%. No commission on gifts, personal capital, insurance, pensions, etc.
  6. Privacy and excellent reputation. You can work confidentially if you choose the right firm structure or use the services of specialists. Bank secrecy in this country is not disclosed, it is legally punishable. In addition, Armenia has an exceptionally clean reputation and an excellent image.
  7. Economic growth and rapid global integration. The jurisdiction’s GDP is constantly growing. The country is included in the EAEU, the WTO and has trade agreements in the CIS. Armenia also enjoys preferential status (GSP) with Canada, Japan, Norway and Switzerland.
  8. Excellent investment environment. Registering a company in Armenia is profitable, because the country guarantees the free repatriation of invested money and profits. Foreign citizens can be land owners. Investment projects enjoy tax incentives and various government assistance programs. There are a lot of agreements here to avoid double taxation and to protect investments.

Registration of companies in Armenia

A firm is an officially-certified structure with a separate identity from those who own or manage it. Setting up a company in Armenia takes place by collecting all the required papers and paying fees.

As soon as the State Register issues a certificate of registration, enterprise is considered open. It is allowed either to create a new enterprise with documents that clearly match the requirements, or to acquire organization that is licensed but not yet operating, and change the constituent documents to match the new direction of work.

Shares and shareholders

Shareholders can be enterprises or individuals – both from Armenia and foreign citizens.

Company formation in Armenia requires only 1 director, it can even be a foreigner. It is also necessary to establish a board of directors responsible for management and operational matters.

Firm’s name

Enterprise’s name must have the ending “LLC”, “CJSC”, “Branch xxx of the company LLC” or “Representative office of the xxx company”.

Before you decide on final firm’s name for complete Armenia company setup, you need to check it in State Register (through WebCHeck program). It is also necessary to carry out a separate check through the Trademark Registry of the Armenian Intellectual Property Office so that in the future there will be no problems with guaranteeing the uniqueness and non-use of a particular trademark by other enterprises. If the name has a registered trademark of a third party, then it cannot be selected.

Our specialists have many years of experience in starting a Business in Armenia and licensing businesses in this jurisdiction. We have extensive professional knowledge in the field of buying and selling commercial structures, providing the most efficient and fast results for our clients. Contact us right now, and we will not only provide you with comprehensive advice on the issues you are interested in, but also offer a list of ready-made companies for sale.

You can see our current offers in the categories “Cryptocoins and licensing of cryptocurrency operations”, “Banks for sale” and “Licenses for sale”.

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