Legislative changes enable starting business in Armenia from abroad

YEREVAN, MAY 17, ARMENPRESS. For the first time, Armenian authorities are enabling consular offices abroad to accept applications from both Armenian and foreign nationals on starting a business in Armenia or buying shares of an Armenian company, the Deputy Minister of Justice Vahe Danielyan said at a news conference.

“There is such a demand globally. When someone wants to register a business in another country serious issues of identification happen. We’ve involved consulates, who will regulate that issue,” Danielyan said. He says this toolbox could positively impact the process of investments in Armenia, and a person willing to register a business or buy shares of an Armenian company can do so without personally traveling here.

Danielyan says raising awareness on the initiative is important and the foreign ministry will start notifying the business circles in various countries.

The amendments to the law will officially come into force after the sub-legislative act is adopted.

Editing and Translating by Stepan Kocharyan