Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Armenia. It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy's per-capita gross national income.
| No. | Procedure | Time to Complete | Associated Costs |
|---|---|---|---|
| 1 | Register at the One-stop shop Agency: State Register of Legal Entities In March 2011, the Business Entry One-stop Shop was launched within the Ministry of Justice. Companies and individual entrepreneurs can now obtain the name reservation, business registration and tax identification number at a single location and at the same time. An application for a taxpayer identification number is filed to tax authority at the one-stop shop and the TIN is issued by the State Registrar. The legal time limit is 2 working days but the application may be dealt with in one day. According to the law on state registry of enterprises, a registration may be refused only if the legal entity’s founding documents are either incomplete or inaccurate. |
2 days | no charge |
| 2 | Order a company seal Agency: Seal maker The seal is not required by law but entrepreneurs tend to obtain the company's seal that may be asked during the operations of the company. The fee for seal issuance varies according to turnaround time as following. - 1 day: AMD 15,500. - 30 days: AMD 2,800. |
1 day | AMD 15,500 |