Armenia: how to quickly open a company, a bank account
If you want to work successfully and not to pay taxes on profit and VAT, register a company in Armenia. The country is interested in investors, so it creates favorable conditions for business. Today we will talk about how to quickly open a company and a bank account in Armenia.
Registering in FEZ territory
There are Free Economic Zones in Armenia, where reduced or no tax rates are applied:
- FEZ Alliance (Yerevan). It is oriented to the development of high and information technologies, pharmaceuticals, electronics, industrial design, as well as production of goods outside Armenia.
- Meridan FEZ (Yerevan) - focused on jewelry and watchmaking.
- Meghri FEZ is focused on the development of agriculture, trade, electricity supply, culture, recreation, tourism, etc. Another direction is the deepening of relations with Iran, which is explained by the close proximity to this country.
- FEZ Ekos (Raztan) is aimed at the development of IT technologies. Companies can engage in educational, research, communication projects, invest in industries that operate on the basis of blockchain technologies.
- Companies that are registered in the FEZ are exempt from income, value-added, and export taxes, as well as excise tax and customs duties.
How to register a company in FEZ
You can become an FEZ resident by submitting an application and a clear business plan to the regulator. The registration process can take up to 4 months, including the stage of collecting documents. Each FEZ has its own requirements which you should check with our experts in advance.
Business Registration outside Free Economic Zones
Business in Armenia outside FEZ can be registered quickly, usually in one business day online. If you submit the documents in person, it will take 1-3 days to register. The main thing is to collect and properly process all the papers.
Among the advantages:
- Low cost of registering a company in Armenia 2022;
- No minimum capital requirements;
- No residency requirements for directors, shareholders, employees;
- Low tax rates for small and medium businesses;
- Over 40 Double Taxation Treaties, Free Trade Agreements have been signed.
What information is necessary for registration
To register a company you should apply to the State Register of Legal Entities in Yerevan. Here you can reserve the name of the company, register the business, and get a taxpayer identification number.
It is necessary to submit the documents for registration both in hard copy and electronically (the first option requires more time for verification though):
- original name;
- list of owners;
- information about the director, shareholders, responsible managers, beneficiaries;
- legal address;amount of the authorized capital;
- articles of association;
- receipt on payment of state fees.
How to Start a Business Quickly in Armenia
If you want to quickly start operating in Armenia without spending time on collecting documents and registration, buy a ready-made company and contact IT-OFFSHORE specialists.
We offer a list of shelf companies that have been registered but haven't worked anywhere, so they have a clean credit history and no liabilities. If you want to buy an operating company, we will find the right option for you, check the company, provide a full report, and help open a bank account in Armenia 2022.