Business entities in Armenia in 2024

The government of Armenia has an open-door policy for investors in any sector and offers equal treatment to both local and foreign investors, thereby creating an attractive business environment. Healy Consultants will assist our Clients to incorporate the optimal corporate structure in Armenia. There are several ways of doing business in Armenia, the most common being the setting up of a limited liability company. Foreign entrepreneurs may also opt to set up a joint stock company, a branch office or a representative office.

The Armenian limited liability company (LLC)

• The Armenia LLC requires only 1 director and 1 shareholder of any nationality for incorporation process to be complete. The minimum paid-up capital required is €1;
• All LLCs must submit annual audited financial statements to the commercial registry.

The Armenia joint stock company (JSC)

• The Armenia joint stock company is commonly used by investors who would like to trade shares on the stock exchange. The minimum paid-up share capital required to complete the incorporation process is €1;
• A JSC must appoint at least one director and one shareholder who can be of any nationality;
• The Armenia joint stock company must submit annual audited financial statements.

The Armenia branch office

• The Armenian branch office can be 100% foreign owned. The scope of operations for this entity will be defined by the parent company;
• The branch must have a registered office in Armenia and the appointed manager must have power of attorney of the branch on behalf of the company;
• The permitted scope of activities of a branch office are wide, in that it is allowed to perform all necessary business functions and activities on behalf of the parent company.

The Armenia representative office

• A foreign company may operate in Armenia by registering a representative office;
• The representative office is governed by the rules and regulations of the foreign legal entity and is not allowed to carry out any income generating activities in Armenia;
• Consequently, this entity can only engage in i) market research and ii) promoting the business of the parent company.

Table of comparison between Armenia entities