How to open a business in the Republic of Armenia?
Recently in the Republic of Armenia, the business development is quite active and Yerevan, with some confidence, can be called the most attractive place for business. To begin the embodiment of business programs it is necessary to determine on the basis of which the activity the business will be carried out. Most often businessmen prefer to register a company in Yerevan.
One of the most important steps in the establishment of the company is a question of its organizational and legal form. The RA legislation provides for the following legal forms:
- LLC (Limited Liability Company);
- CJS (Closed Joint Stock Company);
- JSC (Joint Stock Company).
To open a business in the Republic of Armenia, one needs to collect documents provided for by law and pass the state registration in the public register of The Ministry of Justice of the RA. Prior to submitting the founding documents, it is necessary to determine the legal address of the company. The simplest and most profitable form is an open type of company, IE: Ltd. In contrast to the JSC and JSC, the Ltd may be registered without a lot of authorized capital, as the RA legislation provides for the minimum authorized capital to open an Ltd company only in individual cases.
Necessary documents for the state registration of an Ltd Company:
- The decision to establish a company. This decision must contain information on the approval and the amount of authorized capital, the timing of the payment of capital, and so on;
- The application;
- The charter of the company.
State registration of the company in the Republic of Armenia is carried out within two working days. One can also register as an IP (individual entrepreneur). In this case, there is no need to declare authorized capital, determining the legal address and so on. This is due to the fact that in contrast to the LLC (Ltd), OJSC and CJSC who are responsible to the creditors with the company’s assets, the IP is responsible to the creditors with their personal property.
Registering CJS Company in the Republic of Armenia:
State registration of CJS (Closed Joint Stock) Company is a fairly complicated procedure associated with the collection and submission of all necessary documents. Our professional lawyers will take care of all matters relating to the registration of CJS.
The registration service for the JSC includes:
- The preparation of all required documents;
- The submission of documents for registration to the registering authority in the Republic of Armenia;
- Receiving the documents confirming the registration, the certificate of the Company, certificate of tax registration, the charter and the extract;
- Preparation of documents and support of registration of the shares of the JSC;
- The presentation of official company seal.