Starting a business in Armenia involves important steps and paperwork. In this article, we'll explain the important things you need to do and how to make it easier. We'll talk about deciding to start a business and using online tools to speed things up. Whether you're from Armenia or thinking about doing business here, knowing these details is crucial for your success.
In parallel with the growing interest in property purchases, the market of Armenia's real estate has registered a significant 19% price growth per square meter between 2021 and 2022. The data of 2023 is not yet available, but with a simple sneak peek at the real estate market and tracking the prices, you will clearly see the stable growth of prices.
Discover a dynamic array of 18 banks in Armenia, encompassing both local and international institutions. These banks provide a wide range of services, accommodating major foreign currencies. Rest assured, all banks are licensed by the esteemed Central Bank of Armenia, ensuring adherence to legal regulations.
Are you considering investing in Armenia but find yourself overwhelmed with questions and uncertainties? This article aims to provide you with a comprehensive guide to frequently asked questions about investments in Armenia.
Providing a comprehensive insight into the Armenian tax system, this overview sheds light on the various legal entity types and the corresponding tax obligations applicable in Armenia. Understanding the intricacies of the tax framework...
As well known, Armenia has quite flexible regulations for investments and setting up international business. In this context, investment-worthy consists of broad opportunities from the perspective of various tax regimes for business.
Armenia’s business environment evolves at an exciting pace regardless of or due to external factors. And even though the ecosystem is quite developed and fully compliant with the latest digital transformations, it is sometimes challenging to find...
Armenia’s tech industry has been evolving at a quite predictable and stable pace for the last five years. And this pace might have continued or grown steadily if not for several groundbreaking historical (already historical) events we all witnessed.
In independent Armenia, the IT sector gained momentum again in the late 1990s, and most companies were founded in the 2000s. Initially, most of the products were made with the Outsourcing model․ In 2008-2009 the Outsourcing index decreased, giving way to Product Development.
Armenia is a hidden gem, a cultural and historical center, that is already shifting to an attractive destination for business and investments. The IT talent pool, scientific centers, and sustainability in all the segments will transform the country’s economic environment...
The construction of new apartment buildings, which have significantly increased in previous years, was mainly carried out by private organizations, and the activity of the sphere is connected by specialists with the well-known income tax return law.
Тhe hi-tech industry is the fastest growing economic industry in Armenia. Last year, the turnover of Armenian tech/IT companies increased to ~$ 400 million, or by 20 percent. In 2020, also the number of employees in this industry increase by 22%
Tower, based on the current situation, wanting to contribute to the development of this sector in Armenia, decided to take a unique approach to IT companies, offering high quality services with even more affordable pricing conditions
According to the ArmBanks research, the loan capacity of 17 Armenian banks has grown by 5.7% during the last 2 quarters of 2020, reaching 3.770.5 trillion AMD
Official statistics states – there are 68 500 small and medium-size businesses currently operating in Armenia, and their number has not increased compared to last year mainly because of the COVID-19 pandemic impact
During the preliminary stages of making investments in any field, each investor first studies the legal norms of the country or region, which regulate the economic and employment activities of companies
The opinion that globalization and the rapid development of the economy's business segment make a specialized professional highly undemanding is a completely false statement. The narrower specialization of a company or a person means higher professionalism and deeper knowledge
Tower International Consultants CJSC has an extensive network of business and professional contacts and knows key actors (other companies, government entities, officials, experts) that would be instrumental in resolving matters, finding the right and trusted partners, or conducting regular business in general
Tower International Consultants CJSC is one of the few financial service advisory companies which has continued to operate under Covid-19 and the recent political situation in the RA thus making its small investment in the economy.
The current year registered an unprecedented rise of online payments, because of many reasons, including the global healthcare situation: it is predicted to have 1 billion people using mobile payment apps worldwide at the end of the year and 1.31 billion by 2023!
In general, the tax system in Armenia offers small and medium-sized businesses a number of tax advantages to allowing this sector to stabilize and develop. The tax legislation rules in Armenia are rather flexible and are subject to frequent changes. These changes often happen so quickly that even many professionals do not have time to respond in time.
From January 2020 Armenian switched to a flat income tax rate that sets income tax at 23% for each RA citizen regardless of their income size and will continue to decrease to 20% by 2023
The last 7-month world is living in a state of an emergency, and the banking industry is not an exception. Banks’ performance on the debt market and equity is at the same level as during Lehman Brothers’ collapse in 2008. During the starting phase businesses and borrowers started to lose income, jobs and sales, facing...
Examining the part of the legislative changes in the Republic of Armenia that is closely related to Accounting, such as tax legislation, customs legislation, etc., we can state that professional accountants in Armenia and many other financial professionals must be constantly trained to follow these processes, if they wish to avoid many issues which occur during work.
Advantages of production business in Armenia Located in western Asia, Armenia exported US$2.6 billion worth of products around the globe in 2019. With the highest GDP rate in all Europe (7.6% GDP growth and GDP CAGR to 2020 is 3.2% for Armenia vs. CAGR of 2.7% for global GDP), economic reforms, and “open door” policy,...