OPEN A BUSINESS IN ARMENIA
IN 3 DAYS
IN 3 DAYS
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COMPANY REGISTRATION AND BANK ACCOUNT OPENING IN ARMENIA
Armenia serves as a bridge between the member states of the European Union and the Eurasian Economic Union, as well as the USA, Switzerland, the United Kingdom, and Asian countries. These are nations with which Armenia has a wide range of trade agreements and a proven record of effective cooperation.
Armenia is a democratic country that in recent years has been attracting foreign investors with startups, simplified business registration procedures, as well as its unique culture and national traditions.
FORMS OF BUSINESS OWNERSHIP IN ARMENIA:
“Sole Proprietor”
“LLC”
“Closed JSC”
“Open JSC”
“Representative office / Branch”
What Makes Armenia Convenient for Business:
Favorable geographical location
Fully remote company registration and bank account opening
No minimum capital requirements
Stable and developed banking system
No currency control
Access to European and Asian markets
Over 40 DTA agreements (to avoid double taxation)
Terms and Conditions of Registration
01
The company can be registered remotely within 3 days from the moment a power of attorney is received.
The company may be managed by a foreign director without involving local employees.
The director is not required to reside in Armenia or have a local address.
The director is not required to reside in Armenia or have a local address.
02
Registration – a business in Armenia can be opened in just 3 days (a taxpayer number is issued immediately).
03
KEY FACTS:
Possibility of 100% foreign ownership
Availability of free economic zones (FEZ)
Remote company registration option
Not included in the EU "grey list"
The company can open bank accounts in Armenian banks
Minimal package of documents required for company registration
TAXES IN ARMENIA
Corporate income tax rate: 18%
Taxpayers include:
Taxpayers include:
- Resident companies
- Individual entrepreneurs
- Non-resident companies conducting business in Armenia through a permanent establishment
- Income from agricultural production
- IT startups registered in Armenia
- Resident companies and individual entrepreneurs pay turnover tax instead of corporate income tax and VAT;
- OR they benefit from reduced corporate income tax rates.
- VAT in Armenia: 20%
- VAT applies to most goods and services, including imports.
- Certain basic food products
- Educational services
- Study materials
- Exported goods are subject to zero rate
For imported goods, VAT is 20%.Exceptions: some categories of goods. Payment of VAT may be deferred for up to three years for goods imported under government-approved projects.
Since 2015, Armenia has been a member of the Eurasian Economic Union (EAEU) together with Russia, Kazakhstan, Belarus, and Kyrgyzstan. Goods imported from these countries are exempt from import duties.
Since 2015, Armenia has been a member of the Eurasian Economic Union (EAEU) together with Russia, Kazakhstan, Belarus, and Kyrgyzstan. Goods imported from these countries are exempt from import duties.
- Turnover tax: <5%
- The turnover tax replaces corporate income tax and value-added tax (VAT)
- Taxpayers: small businesses with an annual turnover of less than 115 million AMD
Levied on imports of alcoholic beverages, beer, wine, tobacco substitutes, crude oil, gas (excluding compressed natural gas), oil, and diesel fuel.
Since January 1, 2020, the excise tax, which was previously expressed as a percentage, has been replaced with new fixed rates based on the quantity of goods.
Since January 1, 2020, the excise tax, which was previously expressed as a percentage, has been replaced with new fixed rates based on the quantity of goods.
Employers in Armenia are required to withhold personal income tax (PIT) and social security contributions from the income paid to their employees or contractors.
- PIT: a flat rate of 21% for both Armenian citizens and foreigners (regardless of the amount of compensation).
- Over the next few years, PIT will gradually be reduced to 20%, specifically:
- 21% from January 1, 2022 (already in effect);
- 20% from January 1, 2023.
- 5% (for income up to 500,000 AMD, approx. USD 1,030);
- 10% (for income above 500,000 AMD).
- Non-Resident Tax RatesDividends – 5%
- Profit – 10%
- Royalties – 10%
- Rental income from real estate – 10% (+ additional 10% for income exceeding 60 million AMD)
- Capital gains from real estate sales – 10% to 20% (depending on property type and buyer status; sale of non-business property by individuals is not taxed)
- COVID-19 Related Changes (as of April 2020)Late payment penalties reduced from 0.075% to 0.04% per day of delay.
- Threshold for non-compliance with tax obligations increased from 500,000 AMD to 1,500,000 AMD.
Individual taxpayers are entitled to the following deductions:
- Paid benefits;
- Pension and insurance payments;
- Insurance contributions (paid by the employer on behalf of their employees — up to 10,000 AMD per month);
- Lump-sum assistance in case of death of an employee or family member;
- Work, services, or assets received free of charge from non-profit organizations;
- Cash prizes received in competitions (up to 50,000 AMD per prize).
Residents are taxed on their income earned anywhere in the world, whereas non-residents are taxed only on their income earned in Armenia.
Residence Permit in Armenia
BASED ON AN EMPLOYMENT CONTRACT
Step 1
Signing an employment contract
You must be hired in Armenia with an employment contract in Armenian (we can provide a template).
Step 2
Translation of your passport into Armenian
The translation must be notarized (can be arranged through us).
Step 3
Visit to the country
Your passport must have an entry stamp; at the airport, our driver will meet you
Step 4
Obtaining a social card
Two working days, personal presence required.
Step 5
Submission of documents for a residence permit (RP)
Processing time — two months (you don’t need to stay in Armenia; documents can be submitted online.
Step 6
Obtaining a residence permit (RP)
Valid for one year with the possibility of extension.
Signing an employment contract
You must be hired in Armenia with an employment contract in Armenian (we can provide a template).
Step 2
Translation of your passport into Armenian
The translation must be notarized (can be arranged through us).
Step 3
Visit to the country
Your passport must have an entry stamp; at the airport, our driver will meet you
Step 4
Obtaining a social card
Two working days, personal presence required.
Step 5
Submission of documents for a residence permit (RP)
Processing time — two months (you don’t need to stay in Armenia; documents can be submitted online.
Step 6
Obtaining a residence permit (RP)
Valid for one year with the possibility of extension.
Step 1
Visit to the country
Our driver will meet you at the airport.
Step 2
Company registration
Two working days, paid separately.
Step 3
Opening an account at Unibank Armenia
On the day of application, personal presence required.
Step 4
Lease agreement registration
Within the day, personal presence required.
Step 5
Obtaining a social card
Two working days, personal presence required.
Step 6
Submission of documents for residence permit (RP)
Processing time — two months (you may leave Armenia and submit documents online).
Step 7
Obtaining a residence permit
Valid for one year with the possibility of extension.
Visit to the country
Our driver will meet you at the airport.
Step 2
Company registration
Two working days, paid separately.
Step 3
Opening an account at Unibank Armenia
On the day of application, personal presence required.
Step 4
Lease agreement registration
Within the day, personal presence required.
Step 5
Obtaining a social card
Two working days, personal presence required.
Step 6
Submission of documents for residence permit (RP)
Processing time — two months (you may leave Armenia and submit documents online).
Step 7
Obtaining a residence permit
Valid for one year with the possibility of extension.
THROUGH BUSINESS REGISTRATION
Our specialists will assist you at every stage, ensuring your documents are prepared correctly and addressing any questions you may have.
SERVICE FEES
The cost of company registration and opening a bank account in Armenia
-
COMPANY REGISTRATION- Company registration, including payment of state duties
- Preparation, translation, and notarization of the power of attorney for remote opening
- Legal address for one year
- Preparation of the company’s charter documents
- Preparation of printed company materials
- REMOTE COMPANY REGISTRATIONAdditional fee for remote registration.
Registration period: 2–3 days from the moment of receiving the power of attorney.
+€1000 - OPENING A BANK ACCOUNTAccount opening. Cost + bank commission depends on the client’s risk profile and business volume.
Key features:- Fast opening after submitting the full package of documents: 1–3 days;
- Online banking available;
- Individual service (a personal manager is assigned, most issues can be resolved over the phone);
- No requirements to maintain a minimum balance;
- Works with all major currencies: USD, EUR, CNY, and others;
- Large network of correspondent banks;
- Conservative compliance, AML policy based on EU AMLD 6th, FATF.
- RESIDENCE PERMIT PROCESSING€2000
- RESIDENCE PERMIT RENEWAL€ 1000
- ACCOUNTING SERVICESStandard package of up to 20 transactions per month.
90 €/месяц
TESTED BY REAL COMPANIES
Looking for a legal and transparent solution for your business?
Fill out the form to receive a calculation and consultation.
+37444222489
info@tailor-made.me
info@tailor-made.me
Brothers Orbeli street 8
Yerevan, Armenia
Yerevan, Armenia
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