Sectorial Brochure Textile & Apparel Industry of Armenia/BA | Page 8

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
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