Well Educated, Skilled, Cost-Efficient and Easily Trainable Workforce with strong Science Based Skills
No Limitation on Foreign Ownership
No Export Duty
No Restrictions on Staff Recruitment Competitive Energy Cost
No Restrictions on Remittances
Foreign Exchange Free Conversion
Free Repatriation of Profit
Corporate Tax Holidays
Stable Local Currency
Armenia’s investment and trade policies are considered by international organizations to be the most open in the CIS. Foreign companies are encouraged to invest and are entitled by law to the same treatment as local companies, moreover they have certain advantages. Armenia’s investment climate is continuously improving with a strong government commitment to attracting FDI, including refining the legislative framework.
The Law on Foreign Investment, adopted in July 1994, regulates foreign investment in Armenia. It provides guarantees to foreign investors and protects investors from changes in the business related laws for 5 years.
Foreign investors can make investments in Armenia through the establishment of fully foreign-owned companies (including representations, affiliates, and branches), the purchase of existing companies and securities, or the establishment of joint ventures. There are no limitations on the volume and type of foreign ownership, the number of foreign employees, and access to financial sources. Although foreigners can only lease land, a company registered by a foreigner as an Armenian business entity does have the right to buy land. Foreigners may obtain permission to use land under long-term leases, and concessions for the use of Armenian natural resources with the participation of an Armenian company.
A state registration has to be obtained for starting a business in Armenia. It takes about a week to register a company.
REGISTRATION REQUIREMENTS
To start a business in Armenia, it is required to register with a number of state bodies, including:
Agency of State Register of the Ministry of Justice,
Agency of Intellectual Property of the Ministry of Trade and Economic Development,
State Tax Service,
State Fund for Social Insurance of the Ministry of Welfare and Social Affairs
National Statistical Service.
The permission for the seal has to be obtained from the Police of RA and the seal has to be prepared by the “Seal” Closed Joined Stock Company.
BUSINESS SUPPORT COUNCIL
To provide an effective mechanism for monitoring the improvement in the investment climate, the Business Support Council (BSC) was established by a Presidential Decree in early 2001. Armenian Development Agency was appointed the secretariat to act as an intermediary for the business community. Chaired by the Prime Minister, the evenly balanced private/state membership (the Chief Economic Adviser to the President, the Ministers of Trade and Economic Development, Finance and Economy, the Mayor of Yerevan, the Executive Director of ADA - as the executive secretary of the Council, and six representatives from the business community on a rotation basis) represents a powerful and influential vehicle to improve the business and investment environment and eliminate administrative barriers to investment.
For more information on how to establish business in Armenia, please visit Business and Economic Sites provided in the Links.
