Open joint-stock company ԲԲԸArmenia
What it takes to form, own and run a public limited company in Armenia, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
Quote
The shareholders of a Company shall not be liable for the obligations of the Company
Quote
Առնվազն քանի՞ անձ կարող է հիմնադրել Բաց բաժնետիրական ընկերություն։ 1 կամ ավելի բաժնետեր։
Quote
Management of current activities of a Company shall be carried out by the executive body of the Company, i.e. by the single-person executive body
Quote
No minimum amount of the authorised capital of a Company shall not be prescribed.
Quote
the profit tax shall be calculated at the rate of 18 percent, except for the cases prescribed by parts 2, 3 and 3.1 of this Article
Form it
Who registers it
- Registry
- Formed without visiting
- Yes
- Formed online
- Yes
What it takes to form
- A notary
- Not required
- A resident director
- Not required
- Paying up the capital
- Stocks placed at foundation must be paid for in full within the time limit set by the founding decision or agreement or the charter, and no later than three months after state registration (JSC Law Art. 42(2)).
Quote
The stocks placed at the time of foundation of a Company must be paid for in full within the time limit prescribed by the decision or agreement on founding a Company or by the charter of a Company but not later than within three months upon state registration of a Company.
Own it
Who may own and run it
- Directors
- At least 1 · none need live there · a company may be one
Quote
Management of current activities of a Company shall be carried out by the executive body of the Company, i.e. by the single-person executive body
- Shareholders
- At least 1 · a company may be one · nominees allowed
Quote
Առնվազն քանի՞ անձ կարող է հիմնադրել Բաց բաժնետիրական ընկերություն։ 1 կամ ավելի բաժնետեր։
- Members
- At least 1 · one person may form it alone
Quote
Առնվազն քանի՞ անձ կարող է հիմնադրել Բաց բաժնետիրական ընկերություն։ 1 կամ ավելի բաժնետեր։
- A local company secretary
- Not stated
The registry’s and the law’s own pages do not mention it.
- A local registered agent
- Not required
Quote
The principal place of business of a Company shall be the place where the permanently functioning body
Each year, at the registry
- Annual registry fee
- Free
Quote
Ծառայության արժեք 0
- Accounts on the public record
- Small exempt
Quote
Բոլոր կազմակերպությունները և խմբերը, բացի փոքր կազմակերպություններից և խմբերից ու միկրոկազմակերպություններից, պարտավոր են տարեկան ֆինանսական հաշվետվությունները հրապարակել
- Audit for a small company
- Not required
Quote
Պարտադիր աուդիտի ենթակա են հետևյալ կազմակերպությունների և խմբերի ֆինանսական հաշվետվությունները
- Audit
- Law on Accounting Art. 26(1): mandatory audit for public-interest organisations, large organisations and medium-sized organisations; a small organisation is not on that list (other laws may add types).
Important dates
When each obligation falls due, as the authority states it.
- Declaration of actual
- 40 days after incorporation
With Agency for State Register of Legal Persons, Ministry of Justice
Law on State Registration Art. 60.3(4), as quoted in evidence (arlis.am/en/acts/221246); days not stated as business days.
- Publish the annual financial statements
- 30 June
With the organisation's own website, azdarar.am or a registered media site (publication, not a registry filing)
Law on Accounting Art. 27(2): by 30 June of the year following the reporting year. Small and micro organisations are exempt from publication (Art. 27(1)).
- See shared_dates: annual beneficial-owner declaration or confirmation
- 20 February
With Agency for State Register of Legal Persons, Ministry of Justice
Same rule as shared_dates.beneficial_owner_confirmation; Law on State Registration Art. 60.3(5).
- Declare a change in the actual-beneficiary data
- 40 days after change of beneficial owners
With Agency for State Register of Legal Persons, Ministry of Justice
Law on State Registration Art. 60.3(4): immediately after becoming known to the legal person, no later than 40 days.
What is public
- Directors
- Public
Quote
Բաժնետիրական ընկերությունների ռեեստր գործակալությունը չի վարում
- Shareholders
- Not recorded
Quote
Բաժնետիրական ընկերությունների ռեեստր գործակալությունը չի վարում
- Beneficial owners
- Public
Quote
Բաժնետիրական ընկերությունների ռեեստր գործակալությունը չի վարում
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Flat · 18%+2 regimes
the profit tax shall be calculated at the rate of 18 percent, except for the cases prescribed by parts 2, 3 and 3.1 of this Article
Quote
the profit tax shall be calculated at the rate of 18 percent, except for the cases prescribed by parts 2, 3 and 3.1 of this Article
Work it out on a profit figure: the company’s tax, the owner’s, and what is left.
Special regimes that may apply
- Ստացվող շահաբաժինների նվազեցում համախառն եկամտից holding · 100% exempt
Resident profit-tax payers, and permanent establishments in Armenia, on dividends they receive ՀՀ հարկային օրենսգիրք, հոդված 123, մաս 2, կետ 1 - Ազատ տնտեսական գոտու շահագործողի շահութահարկից ազատումը free zone · 100% exempt
Profit-tax payers holding free economic zone operator status, on income from activity carried on inside a FEZ established in Armenia, whether that income arises from Armenian or foreign sources ՀՀ հարկային օրենսգիրք, հոդված 126, մաս 7; «Ազատ տնտեսական գոտիների մասին» ՀՀ օրենք
Whether a company qualifies depends on its activity and conditions set in each statute.
- CFC rules in Armenia
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- Liquidation through a liquidation commission (JSC Law, Art. 28); no further route read
Quote
The powers to manage the affairs of a Company shall be vested in its liquidation commission
- Statutory fee
- Free
Quote
No state duty shall be charged in case of state registration of liquidation of the legal person.
Every business in Armenia
VAT
- Standard rate
- 20%
Quote
VAT against the tax base of transactions and operations considered to be the object of VAT taxation as prescribed by Article 60 of the Code shall be calculated at the rate of 20%
- Other rates
- 0% Transactions taxable at the zero rate under Article 65, including goods exported under the customs procedure 'Export'
Quote
Taxation at zero rate of VAT shall be the calculation of VAT at zero percent rate with respect to the tax base of transactions deemed to be VAT taxable objects prescribed by Article 60 of the Code.
- Registration threshold
- AMD 115,000,000
sales turnover for all types of activities; preceding tax year, or the current tax year once the threshold is exceeded
Quote
in case of being considered a VAT payer on the ground of exceeding the threshold of the amount of AMD 115 million of sales turnover with respect to all types of activities in the tax year, the VAT shall be calculated and paid in the amount exceeding the VAT threshold
- Voluntary registration
- Yes
A taxpayer below the threshold may submit a statement to the tax authority to be record-registered as a VAT payer, from a day not earlier than the 20th day before the statement.
Quote
in case where the organisation or individual entrepreneur submits a statement to the tax authority making an indication of the fact of being considered a VAT payer and being record-registered as a VAT payer
- A foreign company
- Registers from its first taxable supply
A non-resident organisation without a permanent establishment that supplies electronic services to natural persons is placed on record-registration regardless of turnover; where it supplies other taxable goods or services, the Armenian VAT payer contracting with it accounts for the VAT as tax agent. No representative is required by the provisions read, but the registration procedure is set by Government decree which was not read.
Quote
In case a non-resident organisation not having a permanent establishment in the Republic of Armenia provides electronic service to a natural person who is not considered to be an individual entrepreneur or a notary
- Returns filed
- Monthly
Quote
Every reporting month shall be deemed to be a reporting period for the calculation and payment of VAT, except for cases prescribed by part 2 of this Article.
- Tax authority
- State Revenue Committee of the Republic of Armenia (SRC)
Payment and banking services
1 service names Armenia on its own list: Paysera. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Public limited companyDerived our grouping, the same words in every country
- Name in law
- Open joint-stock company (ԲԲԸ)
- ISO 20275 code
- OLTRSecondary GLEIF, Entity Legal Forms code list