Armenia, situated in the South Caucasus region, is a beautiful country known for its ancient history, culture, and breathtaking landscapes. It is also a great place to start a business due to its strategic location, favorable business climate, and low taxes. If you are interested in starting a business in Armenia, this article will guide you through the process of registering your business.
Choose your Business Structure
The first step to register a business in Armenia is to decide on the type of legal structure you want to establish. You can register a Limited Liability Company (LLC), Joint Stock Company (JSC), Sole Proprietorship, or Partnership. Each type of legal structure has its own requirements and benefits, so you must choose the one that best suits your business goals.
Choose your Business Name
Once you have decided on the legal structure, the next step is to choose a unique name for your business. Your business name should not be identical or similar to any existing business in Armenia, and it should also comply with the Armenian naming rules.
Register your Business Name
After choosing a unique name for your business, you must register it with the State Register of Legal Entities of the Republic of Armenia. You can do this by submitting an application form along with the required documents, including a copy of your passport, a copy of your residence permit, and your business plan.
Obtain a Tax Identification Number
After registering your business name, the next step is to obtain a Tax Identification Number (TIN) from the State Revenue Committee of Armenia. You will need your TIN to open a bank account, pay taxes, and conduct other business activities.
Open a Bank Account
To register your business in Armenia, you must open a bank account in an Armenian bank. You will need to provide your business documents, including your registration certificate, passport, and TIN.
Obtain Necessary Licenses and Permits
Depending on the nature of your business, you may need to obtain certain licenses and permits to operate legally in Armenia. You can obtain information about the required licenses and permits from the Ministry of Economic Development and Investments.
Register with the Social Security System
As an employer, you must register with the Social Security System of Armenia to provide social security benefits to your employees.
Register with the Health Insurance Fund
You must also register with the Health Insurance Fund to provide health insurance to your employees.
Generis Global Can Help
Starting a business in a new country can be challenging, but with the help of the right experts, it can be a smooth and successful process. Generis Global can assist you with the legal part of your business journey in Armenia. Contact us to learn more about our services and how we can help you start and grow your business in this beautiful country.