Establishing of Business
Establishing of business starts with the state registration. To be registered businesses are required to file an application (attaching their constituent documents) to the State Register by presenting all necessary documents in hard copies or through the www.e-register.am website.
At present, registration is carried out on one stop shop basis, which means that both the registration of company name, the obtainment of tax code and the registration of company in whole is exercised as one procedure by filing one application. It is worth mentionng that, at present, the registration of legal entities in Armenia is free of charge.
According to the State Registration Law, State Register must either approve or deny registration applications within 2 working days. For companies established with template constituent documents stipulated by Minister of Justice of the RA, registration is carried out immediately.
As it was mentioned above, the registration of businesses can be executed also on-line through the www.e-register.am website by filing an electronic application. All the necessary documents can be submitted through State Registrar’s electronic system. The applicant is informed immediately of any inequality of submitted information with State Register’s database. After the documents are submitted properly, the company is registered immediately .
There are several types of business activity which require state license. The law on Licensing of the RA provides (according to the fields of activity) two types of licenses: simple and compound. Simple licenses are issued by Ministry of Finance of the RA (www.minfin.am). Compound licenses are issued by state agencies which oversee corresponding economic activities. Due to recent legislative amendments, the number of business activities subject to licensing has approximately been halved. Also, due to recent amendments, it is possible to acquire license on-line through www.e-gov.am website.
Dealing with Customs
Not all companies are required to register with Customs Authorities, only those companies that plan on exporting and/or importing are required to register with customs.