Sectorial Brochure Pharmaceutical Sector of Armenia/ BA - Page 7

1 BUSINESS ENVIRONMENT DOING BUSINESS 2019 41 ECONOMIC FREEDOM INDEX 2018 MODERATELY FREE st STARTING A BUSINESS 8 th 44 th REGISTERING PROPERTY 14 th INVESTMENT FREEDOM 75 % MOSTLY FREE OUT OF 190 COUNTRIES OUT OF 180 COUNTRIES Source: World Bank, Doing Business Database Source: Heritage Foundation Database Takes 3 days to open a company, 7 days to register property Five-year investment protection from changes in legislation E cient e-governance services in place Free exchange of foreign currencies and repatriation of profit 100% foreign ownership permitted Well-regulated banking system No restrictions on investment sectors Foreign companies registered in Armenia have the right to buy land GOVERNMENT SUPPORT Taxes £ VAT (Value Added Tax) payments’ postponement for up to 3 years for importing equipment and goods within investment programs £ 0% VAT for more than 230 product groups imported to Armenia £ Up to 30% profit tax reduction for new jobs created within business projects in the 5 reporting years following the year of launch £ Customs duty exemption for materials and equipment/technology imported from non-EAEU countries that cannot be replaced by materials and equipment/ technology produced by EAEU countries within investment programs £ Legal entities can construct up to 500 kW Solar Installation to get electro energy for their own needs without License 6