Registration of companies in Armenia
MAIN LAWS ON COMPANY REGISTRATION IN ARMENIA:
The Civil Code of Republic of Armenia (July 28, 1998), Law “On the Enterprises and Entrepreneurship” (June 17, 1998).
MAIN BUSINESS LEGAL STRUCTURES IN ARMENIA:
- Limited Liability Company (LLC);
- JSC (Joint-Stock Company);
- Representative Office/Branch.
To choose which legal structure of business in is best for you, you can order us to carry out a legal research on the matter, where we compare pros and cons of business in Armenia, as well as tax burden of a certain legal structure.
NAME OF AN LLC IN ARMENIA
In Armenia, a name of a legal entity is checked, because it must be unique. According to the Law of Republic of Armenia “On the State Registration of Legal Entities, State Accounting of Standalone Subdivisions of Legal Entities, Institutions and Sole Proprietors”, when registering a business entity, a preferred name of a legal entity is also submitted.
Registration of the submitted company name occurs simultaneously with the registration of an entity.
Upon entering of a company name into the information system, it is automatically cross-checked with the base of the registered company names.
According to Article 1168 of the Civil Code of Republic of Armenia, use of words “Armenia”, “Armenian” is permitted only in the procedure established by the government of Republic of Armenia.
MINIMUM AUTHORIZED CHARTER CAPITAL OF LLC IN ARMENIA:
There are no requirements as to the minimum authorized capital of an LLC in Armenia.
MAIN SERVICES OF REGISTRATION OF LLC IN ARMENIA:
- Preparation of constituent documents of an LLC;
- Registration of a company in registration authorities;
- Ordering and receiving of a seal;
- Registration of data on the companies in extra-budgetary funds;
- Opening of accumulation/current accounts in Armenia and abroad.
BACKGROUND DATA REQUIRED FOR REGISTRATION OF LLC IN ARMENIA*:
- Company name;
- Registered address (can be provided by us);
- Participant’s data (name, citizenship, passport/company’s constituent documents, tax identification number);
- Amount of the authorized capital;
- Kinds of activities;
- Chosen bank in Armenia and kinds of accounts to be opened therewith;
- Other documents and data at the request of the experts of ALPS & CHASE.*
*All of the documents must be provided in advance, so we have time to translate them into Armenian.
All provided documents must be notarized and legalized in Armenian Embassy of a participant’s (shareholder’s) country or apostilled according to Hague Convention of 1961 by the relevant authorities after notarization.
For the participants from CIS countries (Russia, Belarus, Uzbekistan, Tajikistan, Armenia, Ukraine, Kyrgyzstan, Moldova, Turkmenistan, Azerbaijan, and Georgia), no apostilization or legalization of the documents is required according to the Minsk Convention on Legal Assistance and Legal Relations in Civil, Family and Criminal Cases (dated January 23, 1993) (note – depending on the kind of legal actions, there can be some exceptions in the document apostilization).
PRESENCE OF THE PARTICIPANTS DURING REGISTRATION OF A COMPANY:
In Armenia, we can solve all matters for you under a properly executed Power of Attorney. We will need the General Director to be present only at the time of opening of bank accounts.
TERM OF REGISTRATION OF LLC IN ARMENIA:
Registration of a foreign-owned LLC in Armenia takes, at an average, around 2 business days from the time of submission of the documents to the public authorities. Please, take account of the time necessary for preparation and translation of the documents.
APPOINTMENT OF THE GENERAL DIRECTOR IN ARMENIA
You can appoint either a citizen of Armenia or a foreign citizen to a position of the General Director.
At that, despite legal standards, there is no practical mechanism of issuance of work permits for foreign citizens.
However, if you need the permanent presence of a Director General for settlement of administrative matters, our company will provide you with the service of temporary directors in Armenia.
Such directors can perform various tasks, interact with the tax inspectorate, customs or the banks. The main requirement to use this service is a complete legality of the client’s business.
OTHER SERVICES IN THE AREA OF REGISTRATION OF A BUSINESS PRESENCE IN ARMENIA:
- Registration of a Branch or a Representative Office in Armenia
- Accounting services in Armenia