Guide to Company Incorporation in Armenia

1. What is the minimum share capital for a Limited Liability Company in Armenia?

A Limited Liability Company in Armenia requires a minimum share capital of 50,000 drams (AMD), approximately 100 EUR.

2. What is the minimum share capital for a Joint Stock Corporation in Armenia?

Joint Stock Companies in Armenia are either open or closed. The difference between them is that Open Joint Stock Companies (OJSC) can offer share to the public, while Closed Joint Stock Companies (CJSC) distribute their shares between shareholders. Regardless of the segment in which the company will activate, its establishment requires at least an initial investment of 1,000 times the minimum monthly wage (OSJC) or 100 times the minimum monthly wage (CSJC).

3. Are there any special requirements for establishing a Limited Liability Company in Armenia?

In order to establish a Limited Liability Company in Armenia and register it, you need to name it and include in its name the type of company it is (LLC, OSJC or CJSC). Besides, you also need to have a definite address of the company’s location. 

4. How can I register for VAT in Armenia?

VAT should be paid at all stages of turnover in Armenian Companies. The registration is required with the Tax Inspectorate in order to obtain a VAT number within one month after the company is registered.

5. How can I open a bank account in Armenia?

When opening a bank account in Armenia, some documents are required. An account opening application has to be submitted, together with the State Registration Certificate, charter, passports of all beneficiaries, tax registration number, signature and seal specimens and a statement from the register of shareholders (mandatory for Joint Stock Companies).

6. How can I recruit personnel in Armenia?

Local organizations and agencies for recruitment in Armenia can help any company find the best qualified personnel.

7. What is the average salary in Armenia?

In May 2011, the average monthly salary in Armenia was 112,054 AMD (217 EUR).

8. What is the overall economic situation in Armenia?

Opening a company in Armenia is quite easy, with an estimated required period of 18 days to start a business. Foreign investment is encouraged by reduced taxes in some domains. For instance, the agricultural sector is tax-free.