Special services for IT companies in Armenia

Armenia has maintained its competitive advantage in technology development as a known hub for software development, industrial computing, electronics, and the production of semiconductors. The sector has remained significant in the Armenian economy due to a highly skilled and competitive labor force, its share of GDP, constant growth in the number of companies, and total turnover.

Tower’s support for IT companies and High-Tech in Armenia

“Tower International Consultants” CJSC encourages the establishment of IT startups as well as support to already established and successful international IT companies which aim to have a branch or subsidiary company in Armenia.

As an advantage, Tower is offering IT companies a 50% discount on company registration services as well as 2 hours of free legal/tax consulting in case of choosing “Tower” as a service provider.
With this offer “Tower” intends to support by giving a boost to the IT sector in Armenia. We offer the following services to the IT sector:

• Registration of the IT company or branch in Armenia with a 50% discount on our standard rate;
• Maintenance and recording (bookkeeping) of all accounting of IT company with ArmSoft;
• Keeping accounting records of IT company in sufficient detail such that the calculation by Tower of all relevant taxes payable can be made accurately and on time;
• Preparation of bank payment orders in the on-line banking system of the IT company;
• Assistance in preparation of documentation relating to Petty Cash statements of IT company;
• Preparation of year-end financial statements;
• Monthly VAT calculation statements of IT company;
• Monthly Individual Reports on Income Tax and Funded Pensions of IT company;
• Employees’ tax registration applications (upon hiring and dismissal);
  Withholding Profit Tax of Non-residents;
• Annual Profit Tax Calculation of IT company;
• Statistical reports of IT company (monthly, quarterly, annual);
• Calculation of monthly salaries according to the Armenian legislation;
• Preparation of employment contracts of IT company;
• Preparation of pay slips of the employees of IT company;
• Legal and Tax Due diligence in case of acquisitions;
• Ongoing legal consulting;
• Negotiation of Contracts;
• Acquisition of Work Permit in Armenia for international employees of IT company;
• Acquisition of Residency Card in Armenia for international employees of IT company