What kind of support is available to a startup in Armenia

  • Speed: a business will be registered in under 3 days.
  • No state fees on registration.
  • No need to rent an office.
  • All capital can belong to a foreign citizen or a foreign legal entity. You don’t have to reside in the country. The charter capital can be equal to 1 EUR.
  • An entrepreneur can get a residence permit and apply for citizenship in three years.
  • Citizens and foreigners have equal rights when stating and doing business.
  • Manufacturers get access to the European and Asian markets. It is easier to export and import goods, you have access to a broader market.
  • Low taxes on dividends and on real estate profits. No other fixed payments.
  • Passport of the director and a copy of it.
  • Three versions of the original company name.
  • Resolution on establishing a company or minutes of a shareholders meeting.
  • The charter and corporate documents.
  • A legal address.
  • Notarized translations of Russian documents into Armenian.
  • A sole entrepreneur
  • A limited liability company and an unlimited liability company
  • A closed joint stock company and an open joint stock company
  • A representative office of a foreign company
  • A partnership.
  1. Turnover tax
  1. Land tax
  1. Excise tax
  1. Property tax
  1. You should carefully select employees. It is hard to find experienced professionals because many of them go to work abroad.
  2. You should open a bank account in Armenian currency. This will make your work easier.
  3. You will need a security team that will observe how employees perform their duties.
  4. You will need a control team to keep track of all stages of production, logistics and sales.
  5. A company needs a lawyer and an accountant. They will help you understand local laws and make the right business decisions.
  6. You should sign agreements, make contracts or at least ask for receipts. This will protect an entrepreneur if a partner breaks an engagement.
  7. Armenians are emotional, you should be ready to hold your ground.

Microsoft Innovation Center Armenia

Impact Aim

Enterprise Incubator Foundation

Entrepreneurship and Product Innovation Center (EPIC)

Catalyst Foundation

Beeline Startup Incubator

Startup Grind Yerevan

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