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Resources for Armenian
                   Business Owners


         Objective: The three main goals of this lesson are to understand what types
         of businesses can legally registered in Armenia, how interested individuals
         can register their businesses, and what organizations or websites you can go
         to for further information.




Novus Business and IT Training Program
Introduction: Business in Armenia
• Business Structures

• Registration Process

• Legislative Changes

• Further Information


Novus Business and IT Training Program   1
Business Structures
Most common business structures in Armenia:
     – Sole Proprietorships
     – Joint Stock Companies
     – Limited Liability Companies
     – Business Partnerships



Novus Business and IT Training Program           2
Structure: Sole Proprietorships
• Very simple

• Governed by same laws as other businesses

• Unlimited liability of owner for obligations of
  the business



Novus Business and IT Training Program              3
Structure: Joint Stock Companies
• Similar to an American or European corporation
• Can issue and sell shares
• Two types of structure:
     – Open
     – Closed
• Shareholders held liable for “value” of stock

Novus Business and IT Training Program            4
Structure: Limited Liability Companies
• Founders are referred to as “Members”

• Profits divided amongst members

• Members liable for amount of initial investment

• Most common structure in Armenia

Novus Business and IT Training Program          5
Structure: Business Partnership
• Association of two or more individuals or
  organizations
• Two types:
     – General Business Partnership
     – Limited Business Partnership

• General Partner vs. Limited Partner

Novus Business and IT Training Program        6
Recent Legal Changes
                            https://www.e-register.am




Novus Business and IT Training Program                  7
How to Register
•   One-time fee of 17,000 AMD
•   Apply in-person or electronically
•   Approved or Rejected within 5 business days
•   Upon approval, receipt of:
     – Business Name
     – Business Registration
     – Tax Identification Number

Novus Business and IT Training Program            8
Other Considerations
• Do you want a business seal?
• Social Security Fund registration

• Do you need a license?
     – www.e-gov.am

• Do you need to register with the Customs
  Authority?
Novus Business and IT Training Program        9
Further Information
• Small and Medium Entrepreneurship Development
  National Center
     – http://www.smednc.am/
• Armenian Development Agency
     – http://www.ada.am/arm/
• Chamber of Commerce and Industry
     – http://www.armcci.am/am/home
• Enterprise Incubator Foundation
     – http://www.eif.am/
• U.S. Embassy in Armenia
     – http://armenia.usembassy.gov/business.html

Novus Business and IT Training Program              10

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Armenian Business Resources

  • 1. Resources for Armenian Business Owners Objective: The three main goals of this lesson are to understand what types of businesses can legally registered in Armenia, how interested individuals can register their businesses, and what organizations or websites you can go to for further information. Novus Business and IT Training Program
  • 2. Introduction: Business in Armenia • Business Structures • Registration Process • Legislative Changes • Further Information Novus Business and IT Training Program 1
  • 3. Business Structures Most common business structures in Armenia: – Sole Proprietorships – Joint Stock Companies – Limited Liability Companies – Business Partnerships Novus Business and IT Training Program 2
  • 4. Structure: Sole Proprietorships • Very simple • Governed by same laws as other businesses • Unlimited liability of owner for obligations of the business Novus Business and IT Training Program 3
  • 5. Structure: Joint Stock Companies • Similar to an American or European corporation • Can issue and sell shares • Two types of structure: – Open – Closed • Shareholders held liable for “value” of stock Novus Business and IT Training Program 4
  • 6. Structure: Limited Liability Companies • Founders are referred to as “Members” • Profits divided amongst members • Members liable for amount of initial investment • Most common structure in Armenia Novus Business and IT Training Program 5
  • 7. Structure: Business Partnership • Association of two or more individuals or organizations • Two types: – General Business Partnership – Limited Business Partnership • General Partner vs. Limited Partner Novus Business and IT Training Program 6
  • 8. Recent Legal Changes https://www.e-register.am Novus Business and IT Training Program 7
  • 9. How to Register • One-time fee of 17,000 AMD • Apply in-person or electronically • Approved or Rejected within 5 business days • Upon approval, receipt of: – Business Name – Business Registration – Tax Identification Number Novus Business and IT Training Program 8
  • 10. Other Considerations • Do you want a business seal? • Social Security Fund registration • Do you need a license? – www.e-gov.am • Do you need to register with the Customs Authority? Novus Business and IT Training Program 9
  • 11. Further Information • Small and Medium Entrepreneurship Development National Center – http://www.smednc.am/ • Armenian Development Agency – http://www.ada.am/arm/ • Chamber of Commerce and Industry – http://www.armcci.am/am/home • Enterprise Incubator Foundation – http://www.eif.am/ • U.S. Embassy in Armenia – http://armenia.usembassy.gov/business.html Novus Business and IT Training Program 10