16December2018

Multilateral and bilateral treaties

Armenia is a growing market offering promi- sing business opportunities to traders and investors. Trade agreements signed by Armenia which promote and protect recipro-cal investments are among the key attractions of the business and investment environment.

Table 4. The list of countries having bilateral investment treaties for the promotion and protection of foreign investments with Armenia (as of 15.02.2012)

N Country Signed Validated Entered into force
1 Argentina 16.04.1993 27.09.1993 10.10.1994
2 Austria 17.10.2001 09.10.2002 01.02.2003
3 USA 23.09.1992 26.09.1995 29.03.1996
4 Bulgaria 10.04.1995 29.08.1995 27.03.1996
5 Belgium-Luxemburg 07.06.2001 20.02.2002 19.12.2003
6 Germany 21.12.1995 23.06.1997 04.08.2000
7 Iran 06.05.1995 14.11.1995 26.02.1997
8 Lebanon 01.05.1995 29.08.1995 01.10.1998
9 Canada 08.05.1997 17.03.1999 29.03.1999
10 Cyprus 18.01.1995 12.06.1996 03.08.1998
11 India 23.05.2003 27.04.2004 30.05.2006
12 Greece 25.05.1993 13.10.1993 28.04.1995
13 Kyrgyzstan 04.07.1994 29.08.1995 26.11.1995
14 United Kingdom of Great Britain and Northern Ireland 27.05.1993 13.10.1993 11.07.1996
15 China 04.07.1992 06.10.1992 17.03.1993
16 Romania 20.09.1994 11.10.1995 24.12.1995
17 Vietnamm 01.02.1993 28.04.1993
18 Georgia 04.06.1996 18.02.1997 18.01.1999
19 Ukraine 07.10.1994 16.01.1996 07.03.1996
20 France 04.11.1995 05.08.1996 21.06.1997
21 Italy 23.07.1998 11.10.2000 12.12.2000
22 Switzerland 19.11.1998 09.10.2002 04.11.2002
23 Israel 19.01.2000 21.03.2001 25.06.2003
24 Qatar 22.04.2002 23.10.2002 08.10.2007
25 Tajikistan 03.04.2002 04.11.2002 18.11.2002
26 Russian Federation 15.09.2001 02.12.2005 08.02.2006
27 Belarus 26.05.2001 21.11.2001 10.02.2002
28 UAE 20.04.2002 04.11.2002 27.04.2009  is sent to UAE
29 Uruguay 06.05.2002 25.03.2003 Hasn’t been validated by Uruguay yet
30 Finland 05.10.2004 27.02.2007 20.04.2007
31 Turkmenistan 19/03/1996 -  
32 Egypt 09/06/1996 08.12.2005 21.02.2006
33 Netherlands 10.06.2005 02.12.2005 01.08.2006
34 Latvia 07.10.2005 27.02.2007 21.04.2007
35 Sweden 08.02.2006 25.02.2008 01.05.2008
36 Litva 25.04.2006 27.02.2007 16.03.2007
37 Kazakhstan 06.11.2006 25.02.2008 01.08.2010
38 Syria 17.06.2009 16.11.2009 26.04.2010
39 Kuwait 25.06.2010 -  

Armenia has signed bilateral treaties on reciprocal promotion and protection of investments with 39 countries (see table 4), and is currently negotiating more such treaties with an additional 24 countries. Armenia is also a signatory of the International Convention on Investment Disputes. In addition, it has double taxation treaties with 35 countries as of 2012 (see table 5). The benefts of these particular treaties are easy to access by providing supporting documentation of residency from foreign tax authorities.

Table 5. The list of countries having Double taxation treaties with Armenia and the summary of withholding rates under the various treaties

Armenia Treaty Partner Dividends (%) Interest (1) (%) Royalties (%)
Country Non-Portfolio Portfolio
Non-treaty 10 10 10 10
Austria 5 (2) 10 (3) 5
Belarus 10 (4) 10 10 10
Belgium 5 (2) 10 (3) 8
Bulgaria 5 (5) 10 10 10
Canada 5 (6) 10 10 10
China (P.R.C.) 5 (7) 10 10 10
Croatia 0 (8) 10 10 5
Cyprus 0/5 (9) 10 5 5
Czech Republic 10 10 (10) (11)
Estonia 5 (7) 10 10 10
Finland 5 (7) 10 5 5/10 (12)
France 5 (2) 10 (13) (14)
Georgia 5 (7) 10 10 5
Greece 10 10 10 5
Hungary 5/7 (7) 10 0/5/10 (10) 5
India 10 10 10 10
Iran 10 (7) 10 10 5
Italy 5 (15) 10 0/10 (16) 7
Kazakhstan 10 10 10 10
Latvia 5 (7) 10 10 10
Lebanon 5 (7) 10 8 5
Lithuania 5 (7) 10 10 10
Luxembourg 5 (2) 10 10 (16) 5
Moldova 5 (7) 10 10 10
Netherlands 0/5 (17) 10 0/5 (13) 5
Poland 10 10 5 10
Qatar 5 (18) 10 5 5
Romania 5 (7) 10 10 10
Russia 5 (5) 10 0 0
Switzerland 5 (19) 10 0/10 (3) 5
Syria 10 10 10 12
Thailand 10 10 10 10
Turkmenistan 5 (7) 10 10 10
Ukraine 5 (7) 10  10 0
United Arab Emirates 3 3 0 5

The treaty generally applies automatically when a local company holds an appropriate residency certifcate issued by foreign tax authorities.Armenia is actively involved in the regional trade integration process. The country has signed free-trade agreements with Georgia and most of the CIS countries, including Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russian Federation, Tajikistan, Turkmenistan and Ukraine. Armenia is a signatory to the CIS Multilateral Convention on the Protection of Investor Rights and the CIS free trade zone agreement, which is designed to reduce all trade fees on a number of goods between the countries involved.Armenia has full membership status in the World Trade Organization (WTO). Armenia is also a member of a number of international organizations including IMF, WHO, World Bank, IDA, UNECE, EBRD, BSEC, WCO, UN, UNCTAD, UNESCO, IFAD, UNIDO, ILO, WIPO, INTERPOL, ITU, IAEA, ISO and others. Currently Armenia is actively involved in negotiations with the EU on an Association Agreement which will include the establishment of a Deep and Comprehensive Free Trade Area (DCFTA).

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