An investor can conduct business in Armenia as a legal entity (limited liability company, joint stock company, or other designated corporate form of organization), or as a sole proprietor. Legal entities are subject to registration in Armenia, and are considered established as of the date of their registration. This procedure is regulated by the law “On State Registration of Legal Entities, their Subdivisions, Enterprises and Sole Proprietors”.
Registration of legal entities is carried out at the State Registrar through a “one stop shop” process, through which registration can be approved within as little as two days of the date of submission of all required documents at the Registrar; or via the newly introduced online registration system (www.e-registry.am) using an electronic signature.
The registration takes just 15 minutes and costs 3,000 AMD ($8 USD) for a sole proprietorship. Registration is free for other entities. Upon registration, the State Registrar provides a certificate and registration number, a taxpayer identification number, a personal identification card number for social payment purposes, and a unique legal trade name for the company.
The requirement for a company seal has been abolished. According to the law “On State Registration of Legal Entities, their Subdivisions, Enterprises and Sole Proprietors”, a registration may be refused only if the legal entity’s founding documents are incomplete or inaccurate.
The following documents are requested by the State Registrar for the registration of an enterprise:
- an application of a person authorized by the founders of the legal entity;
- the records of the founders’ meeting establishing a legal entity;
- at least two copies of the charter approved by the meeting;
- the passport details of the head of the executive body – a copy of his/her passport, and in case of a foreign citizen, a translated and certified copy of the passport;
- a receipt confirming payment of the registration fees (payable at any bank or at the terminal installed at the State Registrar Office).
If one of the company’s founders is a foreign legal entity, then in addition to the items referenced above, that founder shall also submit:
- a statement from the trade registrar of the founder’s country or an equivalent document regarding the legal status of the foreign investor;
- a copy of the founding documents or relevant statements, which shall be validated and translated into the Armenian language.
*Acknowledgement – this content is provided from Investment Guide Armenia 2013 upon approval. – Full report here