This country’s economic expansion, high level of operational security and data protection, and openness to new businesses all contribute to its allure and commercial value. To benefit from tax incentives and other helpful programs created by the government of Armenia to entice foreign investors, company registration in Armenia in 2023 will require strict adherence to all rules and laws. The neighborhood also supports businesspeople who don’t speak the language or want to start an enterprise outside its borders.
Why would it be worthwhile to begin a business venture in Armenia
In Armenia, forming a corporation is a quick and simple process. If you are on Armenian soil and use the forms offered at the registration location, the entire process can be finished in just one day. A bank account can be opened in a day as well. Directors’ and shareholders’ passports are required for this.
Reasonable registration and ongoing maintenance costs
Both start-up money and state obligations are not necessary. Taxes shouldn’t be paid by businesses that are not operating and don’t conduct transactions in the real world. Acting is possible without a workplace or nearby employees.
No limitations apply to foreign ownership
The company may be fully owned by foreigners, without Armenian partners or agents. It is not necessary to live in Armenia or be a citizen.
The ability to receive the proper notifications is a requirement for choosing the company’s address, and choosing the administrative domain in turn determines the tax service authority where the company will be registered.
Since the company’s state registration, an automated system has been used to implement the tax registration of the business, and no longer is it necessary, as in the past, to visit a tax authority for the business’s tax registration.
It is acceptable to either establish a new business with documents that unmistakably meet the requirements or by an organization that has a license but isn’t yet operating, then modify the original documents to reflect the new line of business.
Duration of registration
The process takes 1-3 days if the business is registered remotely and the documents are being mailed. The Agency must complete the necessary state registration no later than two working days after receiving all required documents. The state registration is carried out directly based on an example document for a limited liability company. Other deadlines for state registration may be prescribed regarding the relevant or another law of legal entities with a distinct organizational-legal form. Only after state registration does a legal entity consider itself to have been established. When a legal entity completes the record of information required by law, it is deemed to have been registered in the common state registry.
Shareholders and shares
Enterprises or private citizens, both from Armenia and abroad, may hold shares.
In Armenia, a company can be formed with just one director, who can even be a foreigner. A board of directors that is in charge of management and operational issues must be established as well.
Company name
The suffix “LLC”, “CJSC”, “Branch xxx of the company LLC”, or “Representative office of the xxx company” must be present in the name of the enterprise. Before choosing the final company name for your entire Armenia company setup, you must look it up in the State register (through the WebCHeck program). To guarantee the uniqueness and non-use of a particular trademark by other businesses in the future, it is also necessary to conduct a separate check through the Trademark Registry of the Armenian Intellectual Property Office. The name cannot be chosen if it is a registered trademark of a third party.
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