Company registration in Armenia is becoming increasingly popular among entrepreneurs looking to benefit from the country’s favorable business environment. Armenia offers foreign investors a number of advantages, including straightforward incorporation procedures, tax incentives, and the ability to fully own a company as a foreigner. In this article, we will walk you through the step-by-step process of remote, turnkey company registration in Armenia, which can be fully managed by our team.
Benefits of Registering a Company in Armenia
- Simple registration process: Setting up an LLC in Armenia is relatively quick and straightforward. Remote registration is available without the physical presence of the founders.
- Tax incentives: Armenia offers several favorable tax regimes, including a simplified turnover-based tax of as low as 1% for IT companies. There are also support programs that offer partial tax compensation for hiring new staff and foreign specialists.
- No restrictions on foreign ownership: Foreign citizens may own 100% of an Armenian LLC.
- Remote registration: With a notarized power of attorney, a company can be incorporated in Armenia entirely remotely.
Step-by-Step: Remote Company Registration in Armenia
1. Preparation of Required Documents
You’ll need to submit the following:
- Company name: Must be unique and comply with Armenian legal standards.
- Legal address: A registered office address is required (can be provided by your accounting provider).
- Business activity: Define the main fields of operation.
- Director’s information: Full name, passport details, contact info.
- Ownership structure: Share distribution between founders.
- Copies of founders’ passports: Notarized and translated into Armenian.
- Power of attorney for the director
These are provided to a local representative who will handle the process on your behalf.
2. Drafting the Incorporation Documents
The representative prepares:
- Power of attorney
- Company charter (Articles of Association)
- Decision to establish the company (for one founder)
- Founders’ meeting minutes (if multiple)
Documents are then sent for review and signature.
3. Filing for Registration
The signed documents are submitted to the State Register under the Ministry of Justice. The registration process typically takes 1–2 business days.
Opening a Company Bank Account Remotely
Once the company is registered, a corporate bank account must be opened. Required documents include:
- Company charter
- Registration certificate
- Tax identification number (TIN)
- Director and shareholder passport copies
- Licenses, if applicable
Additional documents banks may request:
- Business plan
- Office lease or ownership documents
- Information about expected transactions
- Account statements from other banks
- Proof of Armenian residence
- Income statements, etc.
Note: The director must obtain a social card (similar to a social security number). This takes about 2 business days.
Banking Conditions and Fees in Armenia
Ameriabank
- Account opening: 3,000 AMD (residents), 20,000 AMD (non-residents)
- No monthly fee
- Transfer fees:
- Domestic (same bank): free
- Domestic (other banks): 0.1%, min 1,000 AMD
- International: 0.15%, min 10,000 AMD
Ardshinbank
- Account opening: free (residents), 15,000 AMD (non-residents)
- No monthly fee
- Transfer fees:
- Same bank: free
- Domestic: 0.2%, min 1,000 AMD
- International: 0.2%, min 12,000 AMD
- Offers remote account opening and card delivery abroad
IDBank
- Account opening: 3,000 AMD (residents), 20,000 AMD (non-residents)
- No monthly fee
- Transfer fees:
- Same bank: free
- Domestic: 0.1%, min 1,000 AMD
- International: 0.15%, min 8,000 AMD
- Known for excellent online and mobile banking
Converse Bank
- Account opening: free (residents), 10,000 AMD (non-residents)
- Monthly fee: 0–2,000 AMD depending on plan
- Transfer fees:
- Same bank: free
- Domestic: 0.15%, min 1,000 AMD
- International: 0.2%, min 12,000 AMD
- Ideal for international trade and flexible banking plans
Tax Registration
Once the company is formed, it must register with the tax authority and obtain a tax code (TIN). This process takes approximately 1 business day.
If you need help with remote registration of an LLC in Armenia — including full document handling, legal address, tax registration, and bank account opening — our company offers turnkey incorporation services.
Tax Regimes and Incentives in Armenia
Armenia offers several tax regimes suitable for different types and sizes of businesses:
- Microbusiness regime: For companies with annual turnover up to 24 million AMD. The tax rate is 5% of turnover. This is ideal for small-scale manufacturing or retail outside Yerevan.
- Turnover tax regime: Applicable for businesses with turnover up to 115 million AMD. The tax rate varies depending on the type of activity — from 1% (for IT companies) to 5%.
- General tax regime: For companies with turnover above 115 million AMD or those not eligible for the simplified regimes. It includes corporate income tax at 18% and VAT at 20%.
There are also special tax incentives for IT companies, including reduced tax rates and partial reimbursement of taxes for new employees and foreign specialists.
Accounting and Reporting Requirements
- All reports must be submitted in Armenian
One of the critical requirements for accounting in Armenia is that all tax returns and financial statements must be filed in the Armenian language. This includes reporting to tax authorities and other government bodies. As a result, having a qualified accountant who is fluent in Armenian and familiar with tax terminology is essential.
Foreign entrepreneurs often face challenges complying with this rule, which is why professional accounting services are in high demand in Armenia.
How Much Does Remote Company Registration in Armenia Cost?
Turnkey remote company registration in Armenia starts at around $460. Opening a business bank account typically costs from $390. Ongoing accounting services vary depending on the company’s activities and volume of transactions, usually starting from 35,000 AMD per month.
Prices may increase based on business complexity, number of transactions, or if additional services are required.
What’s Included in a Turnkey Registration Package?
A turnkey company registration package generally includes the following:
Consulting
- Help selecting the appropriate legal structure and tax regime
- Assessment of business potential in Armenia
Company Registration
- Company name check and reservation
- Preparation and filing of documents with the registrar
- Receiving the registration certificate
Legal Address
- Provision of a registered office address (temporary or permanent)
Bank Account Opening
- Preparing the required documentation
- Assistance in choosing the right bank
Tax Compliance
- Tax registration
- Preparation and submission of tax filings
Accounting Services
- Bookkeeping
- Preparation of quarterly and annual reports
Additional Services
- Assistance with licensing (if needed)
- HR and payroll documentation
- Advice on labor law compliance
We also provide remote liquidation services for LLCs and sole proprietors in Armenia.
